© Dukascopy bank SA
- HighTower Advisors (based on Bloomberg)
Pair's Outlook
USD/CHF skyrocketed yesterday, as the pair jumped from the 100-day SMA at 0.9341 and reached the upper Bollinger band at 0.9511, breaching the 20-day SMA at 0.9384 and the 55-day SMA at 0.9406. In case the pair maintains strong bullish sentiments, the price will reach the weekly R2 at 0.9526 or even attempt to breach a nine-month high at 0.9567.
Traders' Sentiment
Bears sharply sold the pair since yesterday, the sell side increased by 10% to a 62% share. Traders took a huge risk by betting on a correction. Pending orders market is bearish, since 58% of waiting orders are to sell the buck.
© Dukascopy bank SA