© Dukascopy Bank SA
- Bank of Tokyo-Mitsubishi UFJ (based on CNBC)
Pair's Outlook
Just ahead of the monthly pivot point at 0.9053/47 USD/CHF turned around and started a recovery. But the currency pair still needs to settle above the June low and the 100-day SMA before claiming its readiness to rally in the medium-term, also taking into account absence of any backing of a bullish scenario from the technical indicators—they are largely mixed at the moment.
Traders' Sentiment
Regardless of the fact that the greenback increased in value, the positioning of the market participants remained completely unresponsive to these changes. Just as yesterday, right now 73% of positions are long. The percentage of by orders, on the other hand, went up from 65% to 68%.
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