Here is the key factor to keep in mind today for US Dollar trades:
- US Chicago Fed National Activity Index: The US Chicago Fed National Activity Index for November is predicted at 0.20. Forex traders can compare this to the US Chicago Fed National Activity Index for October which was reported at 0.24.
Here is the key factor to keep in mind today for Swiss Franc trades:
- Swiss Total Sight Deposits and Swiss Domestic Sight Deposits: Swiss Total Sight Deposits for the week of December 21st were reported at CHF575.5B and Swiss Domestic Sight Deposits were reported at CHF474.5B. Forex traders can compare this to Swiss Total Sight Deposits for the week of December 14th which were reported at CHF576.3B and to Swiss Domestic Sight Deposits which were reported at CHF471.6B.
Should price action for the USDCHF remain inside the or breakdown below the 0.9900 to 0.9955 zone the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Short Position
- Entry Level: Short Position @ 0.9930
- Take Profit Zone: 0.9540 – 0.9575
- Stop Loss Level: 1.0000
Should price action for the USDCHF breakout above 0.9955 the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Long Position
- Entry Level: Long Position @ 0.9985
- Take Profit Zone: 1.0095 – 1.0125
- Stop Loss Level: 0.9930
Open your PaxForex Trading Account now and add this currency pair to your forex portfolio.
