USD/CHF tries to reverse

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Source: Dukascopy Bank SA
© Dukascopy
"A series of upbeat U.S. economic indicators this month including data pointing to a strengthening recovery in the housing market, have helped lift U.S. Treasury yields"
- Reuters

Pair's Outlook
Today we can see that USD/CHF pair yesterday's session finished with a candle without a body, which indicates that the market's trend might be losing momentum. Also, candle has long shadows on both sides, the so-called long-legged candle, thus showing a reverse of a trend. Therefore, it is very likely to see a change of a trend's direction, as a long term downside movement has not reached serious support levels around a 0.92 zone.

Traders' Sentiment
USD/CHF pair keeps SWFX market participants' support from a buy side, as the majority of traders (73%) have a long position and only a quarter of investors (27%) believes in a further depreciation. Placed orders market delivers slightly different figures, as 63% placed a buy order and 37% a short order.

© Dukascopy
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Actual Topics

Thu, 25 Oct 2012 14:16:46 GMT

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