Here are the key factors to keep in mind today for US Dollar trades:
- US ADP Employment Change: The US ADP Employment Change for June is predicted at 190K. Forex traders can compare this to the US ADP Employment Change for May which was reported at 178K.
- US Initial Jobless Claims and Continuing Claims: US Initial Jobless Claims for the week of June 30th are predicted at 225K and US Continuing Claims for the week of June 23rd are predicted at 1,718K. Forex traders can compare this to US Initial Jobless Claims for the week of June 23rd which were reported at 227K and to US Continuing Claims for the week of June 16th which were reported at 1,705K.
- US Markit Services PMI and Markit Composite PMI: The US Final Markit Services PMI for June is predicted at 56.5. Forex traders can compare this to the previous US Markit Services PMI for June which was reported at 56.5. The US Final Markit Composite PMI for June is predicted at 56.0. Forex traders can compare this to the previous US Markit Composite PMI for June which was reported at 56.0.
- US ISM Non-Manufacturing PMI: US ISM Non-Manufacturing PMI for June is predicted at 58.2. Forex traders can compare this to the US ISM Non-Manufacturing PMI for May which was reported at 58.6.
Here is the key factor to keep in mind today for Swiss Franc trades:
- Swiss CPI: The Swiss CPI for June was reported flat at 0.0% monthly and increased by 1.1% annualized. Economists predicted an increase of 0.1% monthly and of 1.1% annualized. Forex traders can compare this to the Swiss CPI for May which increased by 0.4% monthly and by 1.0% annualized. The Swiss EU Harmonized CPI for June was reported flat at 0.0% monthly and increased by 0.9% annualized. Forex traders can compare this to the Swiss EU Harmonized CPI for May which increased by 0.4% monthly and by 1.0% annualized.
Should price action for the USDCHF remain inside the or breakdown below the 0.9890 to 0.9940 zone the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Short Position
- Entry Level: Short Position @ 0.9915
- Take Profit Zone: 0.9425 – 0.9480
- Stop Loss Level: 1.0000
Should price action for the USDCHF breakout above 0.9940 the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Long Position
- Entry Level: Long Position @ 0.9965
- Take Profit Zone: 1.0015 – 1.0055
- Stop Loss Level: 0.9915
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