Euro Remains in Clear Downtrend versus Swiss Franc
Receive the Weekly Speculative Sentiment Index report via PDF via David’s e-mail distribution list.
Trade Implications – EURCHF:Over 95 percent of open positions in our sample remain long EURCHF. Given that we typically go against the crowd, our algorithms will likely continue to sell the Euro until we see a substantial turn in sentiment. The critical caveat is that the Swiss National Bank seems very likely to defend the SFr1.20 mark if tested; there is relatively limited downside in the currency pair.
See next currency section: EURUSD - Euro May have Set Significant Low versus the Dollar
--- 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.