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EURCHF – Retail traders remain extremely long the Euro versus the Swiss Franc, and impressively consistent sentiment leaves our focus on further EURCHF declines.
Trade Implications – EURCHF:An almost-incredible 96 percent of open positions in the EURCHF are currently long, and until that changes we’ll stick to our contrarian calls for Euro weakness. A re-test of the Swiss National Bank’s critical SFr1.2000 price level seems likely.
See next currency section:EURUSD - Euro Can’t Fall Forever - Here's What to Watch
--- Written by David Rodriguez, Quantitative Strategist for DailyFX.com
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