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Swiss Franc Forecast to Fall Further on Post-SNB Trading
Thursday, 12 March 2009 14:01:23 GMT  |  David Rodriguez, Quantitative Analyst
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USD/CHF ratio: -2.36
Trading Forecast: Bullish

US Dollar/Swiss Franc

USDCHF – A massive US Dollar/Swiss Franc rally has invited aggressive USD/CHF selling, and our contrarian indicator gives signal that the pair may continue to rally. The ratio of long to short positions in the USDCHF stands at -2.68 as nearly 73% of traders are short. Yesterday, the ratio was at 1.34 as 57% of open positions were long. In detail, long positions are 41.1% lower than yesterday and 12.0% weaker since last week. Short positions are an incredible 111.5% higher than yesterday and 79.8% stronger since last week. Open interest is 24.2% stronger than yesterday and 23.8% above its monthly average. The SSI is a contrarian indicator and signals more USDCHF gains. Our forex trading signals are accordingly long the USD/CHF.

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