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Forex Sentiment Calls for Further USDCHF Advances
Thursday, 05 February 2009 13:58:12 GMT  |  David Rodriguez, Quantitative Analyst and Antonio Sousa, Chief Strategist
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USD/CHF ratio: 1.06
Trading Forecast: Bearish

020509_ssi_5

USDCHF – An increasingly bearish forex trading crowd gives a contrarian view that the US Dollar/Swiss Franc pair may continue its advance. 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 -1.04 as 51% of open positions were short. In detail, long positions are 39.7% higher than yesterday and 45.0% stronger since last week. Short positions are 24.8% higher than yesterday and a massive 44.4% stronger since last week. Open interest is 32.1% stronger than yesterday and only 16.0% 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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