FOREX ANALYSIS: Swiss Franc Outlook Remains Bullish
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
To receive the Speculative Sentiment Index and other reports from this author via e-mail, sign up for his distribution list via this link.
New to FX markets? Learn more in our video trading guide.
Contact David via
Twitter at http://www.twitter.com/DRodriguezFX
Facebook at http://www.Facebook.com/DRodriguezFX