© Dukascopy Bank SA
- JF Asset Management Ltd. (based on Bloomberg)
Pair's Outlook
A bullish trend during the last two weeks reversed with a strong bearish impetus, as the price has decreased to a 0.93 benchmark yesterday and currently is testing the 100-day SMA at 0.9298. If the price breaches this SMA, it is very possible to see a pull-back till a 0.9240 level, where the 55-day SMA merges the 20-day SMA. However, the pair still remains in the upper part of Bollinger bands and the consensus of top banks for the first quarter remains between 0.94 and 0.95 levels, implying a bullish trend.
Traders' Sentiment
Currently traders maintain bullish sentiments in USD/CHF pair, since 82% of opened positions are long and only 18% are short. Pending orders situation is rather neutral, as 52% of waiting orders are long and 48% are short.
© Dukascopy Bank SA