Source: PaxForex Premium Analytics Portal, Fundamental Insight
The Swiss KOF Leading Indicator for August is predicted at 100.6. Forex traders can compare this to the Swiss KOF Leading Indicator for July, reported at 101.0.
US Personal Income for July is predicted to increase by 0.2% monthly and Personal Spending by 0.5% monthly. Forex traders can compare this to Personal Income for June, which rose by 0.2% monthly, and Personal Spending by 0.3% monthly. The PCE Deflator for July is predicted to expand by 0.2% monthly and 2.6% annualized. Forex traders can compare this to the PCE Deflator for June, which rose 0.1% monthly and 2.5% annualized. The PCE Core Deflator for July is predicted to expand by 0.2% monthly and 2.7% annualized. Forex traders can compare this to the PCE Core Deflator for June, which increased by 0.2% monthly and 2.6% annualized.
The US Chicago PMI for August is predicted at 45.0. Forex traders can compare this to the US Chicago PMI for July, reported at 45.3.
The Final US Michigan Consumer Sentiment for August is predicted at 67.8. Forex traders can compare this to US Michigan Consumer Confidence for July, reported at 66.4. Final Current Conditions for August are predicted at 60.9, and Final Expectations are predicted at 72.1. Forex traders can compare this to Current Conditions for July, reported at 62.7, and Expectations, reported at 68.8. Final US Michigan Inflation Expectations for August are predicted at 2.9%, and Final US Michigan 5-year Inflation Expectations at 3.0%. Forex traders can compare this to Final US Michigan Inflation Expectations for July, reported at 2.9%, and Final US Michigan 5-Year Inflation Expectations at 3.0%.
The forecast for the USD/CHF turned cautiously bullish after this currency pair corrected into its horizontal support area. Short-term volatility could rise with the Tenkan-sen and the Kijun-sen drifting lower. The Senkou Span A and the Senkou Span B of the Ichimoku Kinko Hyo Cloud have flatlined after a bullish crossover and could attract price action higher. Traders should also monitor the CCI in extreme oversold territory. A breakout could spark the next leg higher. Can bulls regain control over the USD/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 USD/CHF remain inside the or breakout above 0.8430 to 0.8515 zone, PaxForex recommends the following trade setup:
- Timeframe: D1
- Recommendation: Long Position
- Entry Level: Long Position @ 0.8475
- Take Profit Zone: 0.8675 – 0.8730
- Stop Loss Level: 0.8400
Should price action for the USD/CHF break down below 0.8430, PaxForex recommends the following trade setup:
- Timeframe: D1
- Recommendation: Short Position
- Entry Level: Short Position @ 0.8400
- Take Profit Zone: 0.8300 – 0.8330
- Stop Loss Level: 0.8430
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