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USDCHF-Forex Trading Signals Buy the USDCHF on SSI-based Forecasts
Thursday, 09 October 2008 14:20:48 GMT  |  David Rodriguez, Quantitative Analyst
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USD/CHF Ratio: -1.68
Trading Forecast: Bullish

Forex Positioning in the USDCHF

10-09-08-SSI4

 

USDCHF – The ratio of long to short positions in the USDCHF stands at -1.69 as nearly 63% of traders are short. Yesterday, the ratio was at -1.66 as 62% of open positions were short. In detail, long positions are 10.8% lower than yesterday and 33.9% weaker since last week. Short positions are 9.1% lower than yesterday and 26.6% weaker since last week. Open interest is 9.7% weaker than yesterday and 39.0% below its monthly average. The SSI is a contrarian indicator and signals more USDCHF gains. Our contrarian positioning indicator accurately forecast that the US Dollar would rally against the Swiss franc through recent trade, and our SSI-based forex trading signals on DailyFX+ actually bought the USDCHF at 1.0887, 1.1016, and 1.1038.

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