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"Expectations were mounting for the dollar to move higher and participants were waiting for a trigger."
- State Street (based on CNBC)
Pair's Outlook
Just like the Euro, the Franc is also largely unchanged with respect to the Dollar, even though the latter seems to be in demand throughout the market. And while there is a possibility of a step back to 0.9150, the bulls should remain in control and keep on pushing the price towards 0.9250, the main nearby supply area. Though the technical indicators suggest a different scenario—bullishness in the short term and bearishness in the longer term.
Traders' Sentiment
Similarly to the situation 24 hours ago, at the moment the gaps between the amounts of long (46%) and short (54%) positions and buy (51%) and sell (49%) orders are negligible, as they do not exceed ten percentage points.
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