Source: PaxForex Premium Analytics Portal, Fundamental Insight

The Swiss Unemployment Rate for August was reported at 2.7% and the Seasonally Adjusted Unemployment Rate at 2.9%. Economists predicted a rate of 2.8% and 3.0%. Forex traders can compare this to the Swiss Unemployment Rate for July, reported at 2.8%, and the Seasonally Adjusted Unemployment Rate, reported at 3.0%. 

German Industrial Production for July increased 1.0% monthly. Economists predicted an increase of 0.9%. Forex traders can compare this to German Industrial Production for June, which decreased 1.0% monthly.

The German ZEW Survey Current Situation Index for September is predicted at 34.0, and the German ZEW Survey Economic Sentiment Index at 30.0. Forex traders can compare this to the German ZEW Survey Current Situation Index for August, reported at 29.3, and to the German ZEW Survey Economic Sentiment Index, reported at 40.4.

Final Eurozone Employment Change for the second quarter is predicted to increase 0.5% quarterly and 1.8% annualized. Forex traders can compare this to the Eurozone Employment Change for the first quarter, which decreased 0.2% quarterly and 1.8% annualized. The Eurozone Final GDP for the second quarter is predicted to increase 2.0% quarterly and 13.6% annualized. Forex traders can compare this to the Eurozone GDP for the first quarter, which decreased 0.3% quarterly and 1.3% annualized.

The forecast for the EUR/CHF turned bearish after this currency pair ran into its descending Ichimoku Kinko Hyo Cloud. Traders should expect a rise in volatility as bulls and bears struggle for control, and the Tenkan-sen continues to advance. The Kijun-sen turned sideways, and the CCI moved out of extreme overbought territory with more downside expected. Can bears regain control of the EUR/CHF and force price action into its horizontal support 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 breakdown below the 1.0845 to 1.0880 zone, PaxForex recommends the following trade set-up:

• Timeframe: D1           
• Recommendation: Short Position
• Entry Level: Short Position @ 1.0860
• Take Profit Zone: 1.0695 – 1.0720
• Stop Loss Level: 1.0905

Should price action for the EUR/CHF breakout above 1.0880, PaxForex recommends the following trade set-up:

• Timeframe: D1           
• Recommendation: Long Position
• Entry Level: Long Position @ 1.0905
• Take Profit Zone: 1.0955 – 1.0985
• Stop Loss Level: 1.0880

Open your PaxForex Trading Account now and add this currency pair to your forex portfolio.