USDCHF – Forex trading crowds remain net-long the US Dollar against the Swiss Franc, giving steady contrarian signal that the pair may continue recent declines.
Our Speculative Sentiment Index ratio stands at 2.54 as 72% of traders in our sample are currently long. This is a noteworthy shift from last week as long positions jumped 33%. It’s interesting that short positions are likewise 28% higher through the same stretch, but overall momentum points to further USD losses and we remain bearish.
How do we interpret the SSI? Watch an FXCM Expo Presentation that explains the SSI.
--- Written by David Rodriguez, Quantitative Strategist for DailyFX.com
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