Here are the key factors to keep in mind today for US Dollar trades:
- US Chicago Fed National Activity Index: The US Chicago Fed National Activity Index for June is predicted at 0.25. Forex traders can compare this to the US Chicago Fed National Activity Index for May which was reported at -0.15.
- US Existing Home Sales: US Existing Home Sales for June are predicted to increase by 0.2% monthly to 5.45M. Forex traders can compare this to US Existing Home Sales for May which decreased by 0.4% monthly to 5.43M.
Here are the key factors to keep in mind today for Swiss Franc trades:
- Swiss Money Supply M3: Swiss Money Supply M3 for June increased by 2.4% annualized. Forex traders can compare this to Swiss Money Supply M3 for May which increased by 2.9% annualized.
- Swiss Total Sight Deposits and Swiss Domestic Sight Deposits: Swiss Total Sight Deposits for the week of July 20th were reported at CHF576.3B and Swiss Domestic Sight Deposits were reported at CHF474.2B. Forex traders can compare this to Swiss Total Sight Deposits for the week of July 13th which were reported at CHF576.1B and to Swiss Domestic Sight Deposits which were reported at CHF473.0B.
Should price action for the USDCHF remain inside the or breakdown below the 0.9900 to 0.9935 zone the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Short Position
- Entry Level: Short Position @ 0.9920
- Take Profit Zone: 0.9520 – 0.9575
- Stop Loss Level: 1.0000
Should price action for the USDCHF breakout above 0.9935 the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Long Position
- Entry Level: Long Position @ 0.9960
- Take Profit Zone: 1.0045 – 1.0065
- Stop Loss Level: 0.9900
Open your PaxForex Trading Account now and add this currency pair to your forex portfolio.
