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"We expect a strategically strong dollar over an extended period measured in months and years. Our central bank )the Fed) is at neutral and unlikely to revert to QE (quantitative easing) again. The rest of the world has not reached that stage."
- Cumberland Advisors (based on CNBC)
Pair's Outlook
After a test of the monthly R1 the selling pressure forced the U.S. Dollar to retreat behind the weekly PP, even though the near-term technical studies favoured the currency. Now the pair is supported by the weekly S1 at 0.9548, but we should not rule out dips to 0.9450—the current location of the up-trend that has been respected by the market since mid-August. Any fluctuations above this level are not considered dangerous for the overall outlook.
Traders' Sentiment
The bullish market participants keep outnumbering the traders who expect the Greenback to underperform. At the momentum their share amounts to 63%. In the meantime, the percentage of buy orders fell from 77 to 55%.
© Dukascopy Bank SA