USDCHF –Retail forex traders have remained aggressively net-long the US Dollar (ticker: USDOLLAR) versus the Swiss Franc since it crossed below the SFr 0.9500 mark in early September. We have accordingly called for further declines, and a recent build in long positions solidifies our bearish bias.
There are currently 4.0 retail traders long the USDCHF for every one that is short. Said ratio is above where it stood last week and leaves our contrarian bearish bias intact.
--- Written by David Rodriguez, Quantitative Strategist for DailyFX.com
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