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USD/CHF Close to All-time Low

USD/CHF Close to All-time Low

Thomas Long, Course Instructor

This pair is less than 100 pips from an all-time low which confirms the extreme bearishness. The current SSI reading is +5.61 which means that there are more than five open buy positions for every open sell position at FXCM. This is a contrarian indicator which means that the odds favor more downside for this pair. I would continue to look for sells as long as the pair remains below the 1.01823 high noted on the chart.

USDCHF_body_trend-day-usdchf-929.png, USD/CHF Close to All-time Low

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.