USD/CHF surges from an up-trend line

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
"Payrolls exceeding estimates "will send a message that the U.S. economy is still expanding at a modest pace. "I'm more positive on U.S. economic growth, and therefore the U.S. dollar growth"
- Hans Kunnen, chief economist at St. George Bank Ltd. (based on Bloomberg)


Pair's Outlook
As USD/JPY pair ended a consolidation in a 0.9246/66 range, the price surges and has already reached the monthly PP and the 55-day SMA at 0.9349. The next resistance is the 100-day SMA at 0.9408 and after that the upper Bollinger band at 0.9461. However, currently the price is traded around the 20-day SMA, which indicates a middle of the Bollinger bands, and a price's settlement on one of the sides will be a strong signal to open a position.

Traders' Sentiment
Bears' dominance in USD/CHF pair reached a significant extent, as the buy side controls 89% of the market and the sell side only 11%. Pending segment is more balanced, as 64% of placed orders are buy and 36% are sell.
© Dukascopy Bank SA

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