Swiss Franc Expected to Weaken Further
The ratio of long to short positions in the USDCHF stands at -1.69 as nearly 63% of traders are short, according to the FXCM SSI which measures the positioning of thousands of retail traders. Last week, the ratio was at -1.80 as 64% of open positions were short. Retail traders have been buying the USDCHF and long positions are up by 11.5% since last week. The SSI is a contrarian indicator and signals more USDCHF gains.
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