Source: PaxForex Premium Analytics Portal, Fundamental Insight

The Swiss CPI for June is predicted to increase 0.2% monthly and 0.7% annualized. Forex traders can compare this to the Swiss CPI for May, which increased 0.3% monthly and 0.6% annualized. The Swiss manufacturing PMI for June is predicted at 69.7. Forex traders can compare this to the Swiss Manufacturing PMI for May, reported at 69.9.

US Initial Jobless Claims for the week of June 26th are predicted at 390K, and US Continuing Claims for the week of June 19th are predicted at 3,382K. Forex traders can compare this to US Initial Jobless Claims for the week of June 19th, reported at 411K, and to US Continuing Claims for the week of June 12th, reported at 3,390K. 

US Construction Spending for May is predicted to increase 0.4% monthly. Forex traders can compare this to US Construction Spending for April, which increased 0.2% monthly. The US ISM Manufacturing Index for June is predicted at 61.0. Forex traders can compare this to the US ISM Manufacturing Index for May, reported at 61.2. ISM Prices Paid for June are predicted at 86.5. Forex traders can compare this to ISM Prices Paid for May, reported at 88.0. 

The forecast for the USD/CHF started to turn bearish after this currency pair advanced into its resistance area. After the Tenkan-sen and the Kijun-sen turned sideways, bullish momentum is fading. Adding to downside pressures is the descending Ichimoku Kinko Hyo Cloud. The CCI is nearing extreme overbought territory and shows a negative divergence, suggesting a trend reversal may follow. Can bears pressure the USD/CHF 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 0.9230 to 0.9300 zone, PaxForex recommends the following trade set-up:

• Timeframe: D1           
• Recommendation: Short Position
• Entry Level: Short Position @ 0.9255
• Take Profit Zone: 0.8930 – 0.8985
• Stop Loss Level: 0.9340

Should price action for the USD/CHF breakout above 0.9300, PaxForex recommends the following trade set-up:

• Timeframe: D1           
• Recommendation: Long Position
• Entry Level: Long Position @ 0.9340
• Take Profit Zone: 0.9395 – 0.9420
• Stop Loss Level: 0.9300

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