Here are the key factors to keep in mind today for US Dollar trades:
- US Consumer Confidence: US Consumer Confidence for December is predicted at 128.0. Forex traders can compare this to US Consumer Confidence for November which was reported at 129.5.
- US Pending Home Sales: US Pending Home Sales for November are predicted to decrease by 0.5% monthly and to increase by 0.3% annualized. Forex traders can compare this to US Pending Home Sales for October which increased by 3.5% monthly and by 1.2% annualized.
Here are the key factors to keep in mind today for Swiss Franc trades:
- Swiss UBS Consumption Indicator: The Swiss UBS Consumption Indicator for November was reported at 1.67. Forex traders can compare this to the Swiss UBS Consumption Indicator for October which was reported at 1.68.
- Swiss Total Sight Deposits and Swiss Domestic Sight Deposits: Swiss Total Sight Deposits for the week of December 22nd were reported at CHF574.6B and Swiss Domestic Sight Deposits were reported at CHF481.1B. Forex traders can compare this to Swiss Total Sight Deposits for the week of December 15th which were reported at CHF575.4B and to Swiss Domestic Sight Deposits which were reported at CHF479.9B.
- Swiss Credit Suisse Survey Expectations: Swiss Credit Suisse Survey Expectations for December were reported at 52.0. Forex traders can compare this to Swiss Credit Suisse Survey Expectations for November which were reported at 40.7.
Should price action for the USDCHF remain inside the or breakdown below the 0.9880 to 0.9920 zone the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Short Position
- Entry Level: Short Position @ 0.9900
- Take Profit Zone: 0.9420 – 0.9500
- Stop Loss Level: 1.0035
Should price action for the USDCHF breakout above 0.9920 the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Long Position
- Entry Level: Long Position @ 0.9945
- Take Profit Zone: 1.0035 – 1.0200
- Stop Loss Level: 0.9900
Open your PaxForex Trading Account now and add this currency pair to your forex portfolio.
