© Dukascopy Bank SA
"It's highly likely that additional easing will be announced at the FOMC meeting. Should QE3 be announced, the dollar will be sold and probably continue to weaken"
- Sumitomo Mitsui Trust Bank Ltd. (based on Bloomberg)
Pair's Outlook
USD/CHF did bounce off an uptrend support, but seems to be lacking bullish impetus. For now majority of studies suggest the pair will remain sideways, but eventually it is expected to start trimming preceding losses (since July 25) and move towards mean forecast of the major banks at 0.9902 (for the last quarter of the current year), which implies bullish outlook until the end of 2012.
Traders' Sentiment
The Swiss Franc is the least preferred currency (being bought in 26% of cases) in SWFX marketplace, leading to an increasingly bullish sentiment (75%) of traders towards USD/CHF. As for the distribution of orders, for 57% it reinforces positive outlook and for 43% undermines it.
© Dukascopy Bank SA