Here are the key factors to keep in mind today for US Dollar trades:
- US New Home Sales: US New Home Sales for October are predicted to decrease by 6.3% monthly to 625K new homes. Forex traders can compare this to US New Home Sales for September which increased by 18.9% monthly to 667K new homes.
- US Dallas Fed Manufacturing Index: The US Dallas Fed Manufacturing Index for November is predicted at 24.0. Forex traders can compare this to the US Dallas Fed Manufacturing Index for October which was reported at 27.6.
Here is the key factor to keep in mind today for Swiss Franc trades:
- Swiss Total Sight Deposits and Swiss Domestic Sight Deposits: Swiss Total Sight Deposits for the week of November 24th were reported at CHF577.5B and Swiss Domestic Sight Deposits were reported at CHF477.9B. Forex traders can compare this to Swiss Total Sight Deposits for the week of November 17th which were reported at CHF577.6B and to Swiss Domestic Sight Deposits which were reported at CHF475.1B.
Should price action for the USDCHF remain inside the or breakout above the 0.9790 to 0.9830 zone the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Long Position
- Entry Level: Long Position @ 0.9810
- Take Profit Zone: 1.0000 – 1.0035
- Stop Loss Level: 0.9680
Should price action for the USDCHF breakdown below 0.9790 the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Short Position
- Entry Level: Short Position @ 0.9775
- Take Profit Zone: 0.9650 – 0.9680
- Stop Loss Level: 0.9810
Open your PaxForex Trading Account now and add this currency pair to your forex portfolio.
