© Dukascopy Bank SA
- Credit Agricole (based on Bloomberg)
Pair's Outlook
After USD/CHF pair's upside correction was stopped by the weekly and monthly PP levels at 0.9322/33 area, the price edges lower and moves to retest the uptrend at 0.9270. If this move is successful, it is very likely that 0.9210 area will be reached, where the monthly and weekly S1 level cross with the lower line of Bollinger band.
Traders' Sentiment
SWFX market distribution in USD/CHF pair remains heavily bullish, since 71% opened positions are buy and only 29% are sell. That tempts about expectations to see a pair's recovery and further increase. Placed orders segment better reflects current situation, as numbers are more balanced: 54% orders are buy and 46% are sell.
© Dukascopy Bank SA