Swiss Franc Rallies to Continue
USDCHF – Crowds have remained net-long the US Dollar against the Swiss Franc since the pair traded near the 1.10 mark, giving consistent contrarian signal to stay short the fast-falling pair.The ratio of long to short positions in the USDCHF stands at 4.64 as nearly 82% of traders are long. Yesterday, the ratio was at 3.65 as 78% of open positions were long. In detail, long positions are 1.6% lower than yesterday and 11.4% weaker since last week. Short positions are 22.6% lower than yesterday and 28.5% stronger since last week. Open interest is 6.1% weaker than yesterday and 15.3% below its monthly average. The SSI is a contrarian indicator and signals more USDCHF losses.
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