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Swiss Franc Forecast to Gain Despite SNB

Swiss Franc Forecast to Gain Despite SNB

2011-08-11 14:52:00
David Rodriguez, Head of Product
Share:
ssi_usd-chf_body_Picture_5.png, Swiss Franc Forecast to Gain Despite SNB

USDCHF A substantial pullback in the USDCHF has forced a noteworthy correction in forex trading crowd sentiment, but crowds remain net-long the US Dollar against the Swiss Franc since the pair traded near the 1.10 mark. Though the short-term shift is substantial, our SSI gives consistent contrarian signal to stay short as the pair continues to trade near record-lows.

The ratio of long to short positions in the USDCHF stands at a sizeable 3.67 as nearly 80% of traders are long. It is worth noting that long positions are 19.4% weaker since last week on the significant USDCHF bounce. Yet the consistent net-long ratio gives contrarian signal that the USDCHF may continue to challenge record-lows.

To get on the mailing list for the SSI and other reports from author David Rodriguez, e-mail subject line “Distribution list” to drodriguez@dailyfx.com

How do we interpret the SSI? Watch an FXCM Expo Presentation that explains the SSI.

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