© Dukascopy Bank SA
"We're prepared for a sustainable bull market in the dollar, probably starting later in Q4. The goal here is to buy the dollar in dips."
- Credit Agricole (based on CNBC)
Pair's Outlook
USD/CHF is presently well-supported by the monthly R2 at 0.93, meaning there is a high chance the bulls are eventually going to emerge victorious and make the Greenback surpass the recent highs. However, it may take a lot of time for them to erode the resistance above 0.94 due to its density. But this will most likely open a path towards the last year's high at 0.98, despite a half of the monthly indicators pointing South.
Traders' Sentiment
The traders start perceiving the U.S. Dollar as more attractive—the percentage of long positions in the market went from 54 to 56%. At the same time, the advantage of buy orders (62%) over the sell ones (38%) widened.
© Dukascopy Bank SA