USD/CHF defies bullish outlook

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
"The prevailing views are that the Fed will conduct another round of quantitative easing"
- FX Prime Corp. (based on Bloomberg)

Pair's Outlook

USD/CHF has effortlessly pierced through a confluence of supports at 0.9410/0.9385, signifying that proximate rallies are likely to act as bullish corrections rather than an establishment of a long-term trend. The initial support lies at 0.9317, while subsequent levels are at 0.9253 and 0.9205, but these are not viewed as probable turning points.

Traders' Sentiment
SWFX traders' sentiment is bullish towards USD/CHF, since 71% of market participants stay long on the currency pair, while merely 29% of them believe the U.S. Dollar is going to carry on losing value relatively to the Swiss Franc. Moreover, 66% of orders placed are buy orders.

© Dukascopy Bank SA
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Actual Topics

Thu, 13 Sep 2012 15:12:06 GMT

EUR/JPY pushed back below 100

Pair rebounded from Bollinger's band at 100.576 and is back below 100. Cluster of resistance levels above current price and technical indicators suggest that this bearish correction should last for few more days. However, weekly PP at 99.501 should provide enough support and keep pair in tight range.

Thu, 13 Sep 2012 07:42:49 GMT

USD/JPY violates supports

If we are to see more bearish action form USD/JPY, supports at 77.63 and 77.40 will come under considerable pressure, although, being that levels at 76.89/79 and 76.37 are too ready to absorb downward momentum, the pair is expected to stabilise and commence recovery. Still, daily and weekly studies give "sell" signals, implying that present weakness is going to persist

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