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Forex Sentiment Gives Little US Dollar/Swiss Franc Bias
Thursday, 29 January 2009 14:22:54 GMT  |  David Rodriguez, Quantitative Analyst
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USD/CHF ratio: 1.05
Trading Forecast: Bearish

Forex_Trading_2009-01-29_5

USDCHF – Our sentiment-based bias on the USD/CHF remains relatively neutral, as traders sentiment does not point to gains or losses and open interest is well-below its medium-term average. The ratio of long to short positions in the USDCHF stands at 1.07 as nearly 52% of traders are long. Yesterday, the ratio was at 1.08 as 52% of open positions were long. In detail, long positions are 18.3% higher than yesterday and 6.5% stronger since last week. Short positions are 19.3% higher than yesterday and 2.8% stronger since last week. Open interest is 18.8% stronger than yesterday and 28.3% below its monthly average. The SSI is a contrarian indicator and signals more USDCHF losses. All the same, our forex trading signals are currently aggressively long the USD/CHF.

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