Here is the key factor to keep in mind today for US Dollar trades:
- US Housing Starts and Building Permits: US Housing Starts for October are predicted to increase by 2.4% monthly to 1,230K starts and Building Permits are predicted to decrease by 0.8% monthly to 1,260K permits. Forex traders can compare this to US Housing Starts for September which decreased by 5.3% monthly to 1,201K starts and to Building Permits which decreased by 0.6% monthly to 1,241K permits.
Here is the key factor to keep in mind today for Swiss Franc trades:
- Swiss Exports and Swiss Imports: Swiss Exports for October increased by 6.3% monthly and Swiss Imports decreased by 3.6% monthly. Forex traders can compare this to Swiss Exports for September which decreased by 2.1% monthly and to Swiss Imports which decreased by 0.1% monthly. Swiss Watch Exports for October increased by 7.2% annualized. Forex traders can compare this to Swiss Watch Exports for September which decreased by 6.8% annualized.
Should price action for the USDCHF remain inside the or breakdown below the 0.9910 to 0.9950 zone the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Short Position
- Entry Level: Short Position @ 0.9930
- Take Profit Zone: 0.9540 – 0.9600
- Stop Loss Level: 1.0060
Should price action for the USDCHF breakout above 0.9950 the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Long Position
- Entry Level: Long Position @ 0.9970
- Take Profit Zone: 1.0090 – 1.0125
- Stop Loss Level: 0.9930
Open your PaxForex Trading Account now and add this currency pair to your forex portfolio.
