We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site.

Free Trading Guides
EUR/USD
Mixed
GBP/USD
Bearish
USD/JPY
Bullish
Gold
Bearish
Oil - US Crude
Bearish
Bitcoin
Mixed
More View more
Real Time News
  • making this happen, the webinar begins now -> https://www.dailyfx.com/webinars/3952937094787220994?webinar=3952937094787220994&utm_source=Twitter&utm_medium=DFXGeneric&utm_campaign=twr https://t.co/IhM6bDD8H1
  • LIVE IN 5 MINUTES: Join @JStanleyFX as he runs through price action set-ups for the FX and CFDs market. https://www.dailyfx.com/registerToSeminar?webinar=3952937094787220994&utm_source=Twitter&utm_medium=DFXGeneric&utm_campaign=twr
  • Secretary Mnuchin says he intends to stay in position through second term $DXY
  • LIVE IN 15 MINUTES: Join @JStanleyFX as he runs through price action set-ups for the FX and CFDs market. https://www.dailyfx.com/registerToSeminar?webinar=3952937094787220994&utm_source=Twitter&utm_medium=DFXGeneric&utm_campaign=twr
  • It's been a while since I updated this, but here is what the Fed funds rate would be if we equated stimulus to rate changes (using a Ben Bernanke formula). It is plenty accommodative... https://t.co/BDhje8Ba0Z
  • $DXY continues to weaken through mid-day trading https://t.co/i3xEXsNiZP
  • The #RBA’s unease over subdued household consumption, which had been highlighted in the Q3 GDP report, looks to have spilled into Q4 with the October retail sales dropping to 0%, missing expectations of 0.3%. Get your market update from @JMcQueenFX here:https://t.co/4PB6UbPsQE https://t.co/DkE5rKNeFs
  • I'll be watching the $CAC to $DAX ratio in the coming days as a way of gauging the impact of the ongoing French protests Here's where it is now https://t.co/K3LqrX39aY
  • I'll be watching the $CAC to $DAX ratio in the coming days for any palpable impact of the ongoing French protests You can already see a bit of a drop-off, but time will tell https://t.co/mpWoNBfXRv
  • Secretary Mnuchin says work is being done on Volcker rule, coordinating with other regulators $SPX
Euro Likely to Ignore SNB and Test SFr1.20

Euro Likely to Ignore SNB and Test SFr1.20

2014-09-18 17:00:00
David Rodriguez, Head of Business Development
Share:
Euro Likely to Ignore SNB and Test SFr1.20

Receive the Weekly Speculative Sentiment Index report via PDF via David’s e-mail distribution list.

EURCHFRetail traders remain near their most long the Euro versus the Swiss Franc on record, and such incredibly one-sided positions warn that the EURCHF may continue onto test key SFr1.2000 lows.

Trade Implications – EURCHF:A nearly-unbelievable 97 percent of open positions are currently long the EURCHF, and such one-sided positions give us a steady contrarian signal that the pair may continue lower. Today’s Swiss National Bank decision made clear that officials would not hesitate to defend the key 1.2000 mark, and it seems like markets remain poised to test the SNB’s resolve.

See next currency section:EURUSD - Euro at Major Inflection Point

--- Written by David Rodriguez, Quantitative Strategist for DailyFX.com

Euro Likely to Ignore SNB and Test SFr1.20

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.

DISCLOSURES

News & Analysis at your fingertips.