© Dukascopy Bank SA
- Deloitte (based on Bloomberg)
Pair's Outlook
USD/CHF continued an upside movement yesterday, as the price stepped towards the monthly PP at 0.9473 and even executed an upside spike, touching the Bollinger band at 0.9485. However, today the pair is slowly moving away from the monthly pivot point, which suspended the rapid appreciation of the pair. Further advancements are not very likely, being that the Bollinger band is still moving downwards, contradicting the current direction of the price.
Traders' Sentiment
As the pair steps higher, bears enter the market more boldly - the sell side enlarged by 2% to a 67% share. Waiting orders market is gently bullish, as advantage is only minor - 51% of long orders versus 49% of short positions.
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