Swiss Franc Short-term Bias Turns Bullish
USDCHF – The ratio of long to short positions in the USDCHF stands at -1.01 as nearly 50% of traders are short. Yesterday, the ratio was at -2.47 as 71% of open positions were short. In detail, long positions are 45.3% higher than yesterday and 1.1% weaker since last week. Short positions are 40.3% lower than yesterday and 20.1% weaker since last week. Open interest is 15.7% weaker than yesterday and 13.3% below its monthly average. The sharp shift towards long positions gives us a contrarian bearish short-term trading bias.
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