Swiss Retail Sales for March decreased by 5.6% annualized. Economists predicted an increase of 0.1% annualized. Forex traders can compare this to Swiss Retail Sales for February, which increased by 0.3% annualized. The Swiss KOF Leading Indicator for April was reported at 63.5. Economists predicted a figure of 63.5. Forex traders can compare this to the Swiss KOF Leading Indicator for March, which was reported at 91.7.
US Personal Income for March is predicted to decrease by 1.5% monthly, and Personal Spending is predicted to decrease by 5.0% monthly. Forex traders can compare this to Personal Income for February, which increased by 0.6% monthly and to Personal Spending, which increased by 0.2% monthly. The PCE Core Deflator for March is predicted to decrease by 0.1% monthly, and to increase by 1.6% annualized. Forex traders can compare this to the PCE Core Deflator for February, which increased by 0.2% monthly and by 1.8% annualized.
Our Analysis:
Should price action for the USD/CHF remain inside the or breakdown below the 0.9700 to 0.9755 zone the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Short Position
- Entry Level: Short Position @ 0.9720
- Take Profit Zone: 0.9390 – 0.9455
- Stop Loss Level: 0.9800
Alternative scenario:
Should price action for the USD/CHF breakout above 0.9755 the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Long Position
- Entry Level: Long Position @ 0.9800
- Take Profit Zone: 0.9900 – 0.9935
- Stop Loss Level: 0.9755
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