Source: PaxForex Premium Analytics Portal, Fundamental Insight
The Swiss KOF Leading Indicator for August is predicted at 91.5. Forex traders can compare this to the Swiss KOF Leading Indicator for July, reported at 92.2.
The Swiss Economic Sentiment Index for August is predicted at -31.3. Forex traders can compare this to the Swiss Economic Sentiment Index for July, reported at -32.6.
The US ADP Employment Change for August is predicted at 195K. Forex traders can compare this to the US ADP Employment Change for July, reported at 324K.
The Advanced US GDP for the second quarter is predicted to expand by 2.4% quarterly. Forex traders can compare this to the first quarter GDP, which rose 2.0% quarterly. GDP Sales for the second quarter are predicted to increase by 2.3% quarterly, and Corporate Profits to drop by 5.9% quarterly. Forex traders can compare this to GDP sales for the first quarter, which rose 4.2%, and Corporate Profits, which contracted by 5.9% quarterly. Personal Consumption for the second quarter is predicted to increase 1.6% quarterly. Forex traders can compare this to the fourth quarter Personal Consumption, which rose 4.2% quarterly. The GDP Price Index for the second quarter is predicted to accelerate by 2.2% quarterly, the PCE Price Index by 2.6%, and the Core PCE by 3.8%. Forex traders can compare this to the first quarter GDP Price Index, which rose 4.1% quarterly, the PCE Price Index by 4.1% quarterly, and the Core PCE by 4.9% annualized.
The US Trade Balance for July is predicted at -$89.94B. Forex traders can compare this to the US Trade Balance for June, reported at -$88.83B.
US Pending Home Sales for July are predicted to decrease by 0.6% monthly. Forex traders can compare this to US Pending Home Sales for February, which rose 0.3% monthly.
US Preliminary Wholesale Inventories for July are predicted to decrease by 0.4% monthly. Forex traders can compare this to US Wholesale Inventories for June, which dropped 0.5% monthly.
US Crude Oil Inventories Change for the week ending August 25th are predicted at -3.267M. Traders can compare this to US Crude Oil Inventories Change for the week ending August 18th, reported at -6.135M. US Gasoline Inventories Change for the week ending August 25th are predicted at -0.933M, and US Distillate Stocks Change at 0.189M. Traders can compare this to US Gasoline Inventories Change for the week ending August 18th, reported at 1.467M, and US Distillate Stocks Change at 0.945M.
The forecast for the USD/CHF remains bearish after this currency pair advanced into its downward-shifting Ichimoku Kinko Hyo Cloud. Volatility could rise as price action trades above its flat Kijun-sen but below its flat Tenkan-sen. Traders should also monitor the CCI following its double breakdown from extreme overbought territory and below zero. This technical indicator has plenty of downside potential and should lead this currency pair lower. Can bears maintain control over the USD/CHF and pressure 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 USD/CHF remain inside the or breakdown below the 0.8760 to 0.8815 zone, PaxForex recommends the following trade set-up:
- Timeframe: D1
- Recommendation: Short Position
- Entry Level: Short Position @ 0.8790
- Take Profit Zone: 0.8500 – 0.8550
- Stop Loss Level: 0.8850
Should price action for the USD/CHF breakout above 0.8815, PaxForex recommends the following trade set-up:
- Timeframe: D1
- Recommendation: Long Position
- Entry Level: Long Position @ 0.8850
- Take Profit Zone: 0.8910 – 0.8970
- Stop Loss Level: 0.8815
Open your PaxForex Trading Account now and add this currency pair to your forex portfolio.
