Euro/Swiss Franc Positions at Record Long - Where's the SNB?
Receive the Weekly Speculative Sentiment Index report via PDF via David’s e-mail distribution list.
EURCHF – Incredibly one-sided positions warn that the Euro is at a major inflection point versus the Swiss Franc. The key question is: will the Swiss National Bank intervene as the exchange rate nears SFr1.20?
Trade Implications – EURCHF:We’ve seen up to 98 percent of open positions long the Euro versus the Swiss Franc—a new record. The last time we saw anything similar was in 2012 when the Euro similarly traded near SFr1.20 for months on end. In that instance, the Swiss National Bank ably defended its stated SFr1.20 price floor. The critical question remains: will they once again give traders a free ride?
See next currency section:EURUSD - Euro Trend Overwhelmingly Negative as ECB Cuts Rates
--- Written by David Rodriguez, Quantitative Strategist for DailyFX.com
Automate our SSI-based trading strategies via Mirror Trader free of charge
To receive the Speculative Sentiment Index and other reports from this author via e-mail, sign up for his distribution list via this link.
Contact David via
Twitter at http://www.twitter.com/DRodriguezFX
Facebook at http://www.Facebook.com/DRodriguezFX
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.