- EBF President Christian Clausen (based on Bloomberg)
Pair's Outlook
Last few weeks were really good for the Swiss Franc, as it sharply appreciated and reached a 9-month high. Recently the price bounced to the lower line of the Bollinger band and is presently consolidating around this level. The pair still has not reached the 423% Fibonacci line at 0.9034 and a convergence point of the weekly and monthly S1 slightly lower, at 0.8980. Accordingly, it is likely to see at least one more dip to the Fibonacci, but in a long term, the price should move up, as analysts' consensus is at a 0.95 level.
Traders' Sentiment
Traders have easily reversed their positions to bullish, as today there are 56% of long positions and 44% of short. Pending orders market is almost neutral, as 49% of orders are for a long and 51% for a short.
© Dukascopy Bank SA
© Dukascopy Bank SA