Here is the key factor to keep in mind today for US Dollar trades:
- US Chicago Fed National Activity Index: The US Chicago Fed National Activity Index for September is predicted at 0.22. Forex traders can compare this to the US Chicago Fed National Activity Index for August which was reported at 0.18.
Here are the key factors to keep in mind today for Swiss Franc trades:
- Swiss Money Supply M3: Swiss Money Supply M3 for September increased by 2.3% annualized. Forex traders can compare this to Swiss Money Supply M3 for August which increased by 2.5% annualized.
- Swiss Total Sight Deposits and Swiss Domestic Sight Deposits: Swiss Total Sight Deposits for the week of October 19th were reported at CHF577.9B and Swiss Domestic Sight Deposits were reported at CHF471.6B. Forex traders can compare this to Swiss Total Sight Deposits for the week of October 12th which were reported at CHF577.6B and to Swiss Domestic Sight Deposits which were reported at CHF468.2B.
Should price action for the USDCHF remain inside the or breakdown below the 0.9920 to 0.9975 zone the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Short Position
- Entry Level: Short Position @ 0.9970
- Take Profit Zone: 0.9650 – 0.9715
- Stop Loss Level: 1.0065
Should price action for the USDCHF breakout above 0.9975 the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Long Position
- Entry Level: Long Position @ 0.9995
- Take Profit Zone: 1.0065 – 1.0100
- Stop Loss Level: 0.9945
Open your PaxForex Trading Account now and add this currency pair to your forex portfolio.
