Source: PaxForex Premium Analytics Portal, Fundamental Insight
German Factory Orders for November rose by 0.3% monthly. Economists predicted an increase of 1.0%. Forex traders can compare this to German Factory Orders for October, which dropped 3.8% monthly.
The German Trade Balance for November came in at €20.4B. Economists predicted a figure of €17.9B. Forex traders can compare this to the German Trade Balance for October, reported at €17.7B. Exports for November rose by 3.7% monthly, and Imports expanded by 1.9% monthly. Economists predicted a rise of 0.3% and 0.2%. Forex traders can compare this to Exports for October, which decreased by 0.4% monthly, and Imports, which contracted by 1.1% monthly.
Swiss Retail Sales for November increased by 0.7% monthly and 0.7% annualized. Forex traders can compare this to Swiss Retail Sales for October, which rose by 0.4% monthly and decreased by 0.3% annualized.
The Swiss CPI for December came in flat at 0.0% monthly and increased by 1.7% annualized. Economists predicted a decrease of 0.2% and an expansion of 1.5%. Forex traders can compare this to the Swiss CPI for November, which contracted by 0.2% monthly and rose by 1.4% annualized.
French Total Reserve Assets for December came in at €223.2B. Forex traders can compare this to French Total Reserve Assets for November, reported at €222.9B.
Eurozone Sentix Investor Confidence for January is predicted at -15.5. Forex traders can compare this to Eurozone Sentix Investor Confidence for December, reported at -16.8.
Final Eurozone Consumer Confidence for December is predicted at -15.1. Forex traders can compare this to the previous Eurozone Consumer Confidence for November, reported at -16.9.
Eurozone Retail Sales for November are predicted to decrease by 0.3% monthly and 1.5% annualized. Forex traders can compare this to Eurozone Retail Sales for October, which rose by 0.1% monthly and contracted by 1.2% annualized.
The forecast for the EUR/CHF turned cautiously bullish after this currency pair corrected into its horizontal support area. The Ichimoku Kinko Hyo Cloud flatlined, but volatility could increase with the Kijun-sen descending. Adding to the slowly rising bullishness is the flat Tenkan-sen, which could begin to reverse this week. Traders should also monitor the CCI after a positive divergence formed in extreme oversold territory followed by a breakout. This technical indicator has plenty of upside potential, and a move above zero could trigger a reversal rally. Can bulls regain control over the EUR/CHF and push price action into its horizontal resistance area? Subscribe to the PaxForex Daily Fundamental Analysis and earn over 5,000 pips per month.
Should price action for the EUR/CHF remain inside the or breakout above the 0.9270 to 0.9330 zone, PaxForex recommends the following trade set-up:
- Timeframe: D1
- Recommendation: Long Position
- Entry Level: Long Position @ 0.9300
- Take Profit Zone: 0.9450 – 0.9500
- Stop Loss Level: 0.9245
Should price action for the EUR/CHF breakdown below 0.9270, PaxForex recommends the following trade set-up:
- Timeframe: D1
- Recommendation: Short Position
- Entry Level: Short Position @ 0.9245
- Take Profit Zone: 0.9155 – 0.9195
- Stop Loss Level: 0.9270
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