© Dukascopy Bank SA
"Without a clear expectation of QE3 in September [at the next Fed meeting], the market will have to adjust to life without additional stimulus — until at least after the U.S. presidential election in November"
- Standard Life Investments (based on MarketWatch)
Pair's Outlook
An accelerated downtrend resistance line and the 100 day SMA did not allow the price to increase any further and terminated bullish correction last week. Accordingly, they are anticipated to shape behaviour of USD/CHF this week as well, forcing it to dive down to 0.9429/0.9397 before we could see a robust recovery performed by the currency pair.
Traders' Sentiment
While the U.S. Dollar is the most frequently acquired (in 63% of cases) currency in the SWFX marketplace, sentiment towards USD/CHF is strongly positive, as 72% of traders stay long and only 28% stay short on the currency pair. As for the orders, 62% of them are buy orders and 38% are sell orders.
© Dukascopy Bank SA