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"We still think Spain will be downgraded more than one notch to junk status"
- National Alliance Securities (based on MarketWatch)
Pair's Outlook
Being that technical indicators are silent at the moment for all three time frames observed, USD/CHF may be choppy during the next few days without explicitly giving away its future intentions. Nevertheless, the outlook is from neutral to negative due to the fact that a downtrend resistance is still respected by the market and may provide sufficient selling pressure in order to renew bearish activity of the pair.
Traders' Sentiment
Even though a bearish correction seems to have come to an end, 74% of market participants are bullish on USD/CHF, as currently the U.S. Dollar is the most popular currency in SWFX, being bought in 61% of cases. On the other hand, 26% of traders remain bearish on it. Concerning orders, 55% are to enter long and 45% to enter short positions.
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