Here are the key factors to keep in mind today for US Dollar trades:
- US PPI: The US PPI for June is predicted flat at 0.0% monthly and to increase by 1.9% annualized. Forex traders can compare this to the US PPI for May which was reported flat at 0.0% monthly and which increased by 2.4% annualized. The US Core PPI for June is predicted to increase by 0.2% monthly and by 2.0% annualized. Forex traders can compare this to the US Core PPI for May which increased by 0.3% monthly and by 2.1% annualized. The US Core PPI ex Trade for June is predicted to increase by 0.2% monthly and by 2.1% annualized. Forex traders can compare this to the US Core PPI ex Trade for May which decreased by 0.1% monthly and which increased by 2.1% annualized.
- US Initial Jobless Claims and Continuing Claims: US Initial Jobless Claims for the week of July 8th are predicted at 245K and US Continuing Claims for the week of July 1st are predicted at 1,950K. Forex traders can compare this to US Initial Jobless Claims for the week of July 1st which were reported at 248K and US Continuing Claims for the week of June 24th which were reported at 1,956K.
Here is the key factor to keep in mind today for Swiss Franc trades:
- Swiss Producer Import Prices: Swiss Producer Import Prices for June decreased by 0.1% monthly and by 0.1% annualized. Economists predicted a flat reading of 0.0% monthly and of 0.0% annualized. Forex traders can compare this to Swiss Producer Import Prices for May which decreased by 0.3% monthly and which increased by 0.1% annualized.
Should price action for the USDCHF remain inside the or breakout above the 0.9645 to 0.9685 zone the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Long Position
- Entry Level: Long Position @ 0.9665
- Take Profit Zone: 0.9960 – 1.0000
- Stop Loss Level: 0.9550
Should price action for the USDCHF breakdown below 0.9645 the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Short Position
- Entry Level: Short Position @ 0.9620
- Take Profit Zone: 0.9500 – 0.9550
- Stop Loss Level: 0.9685
Open your PaxForex Trading Account now and add this currency pair to your forex portfolio.
