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Swiss Franc Forecast Turns Bullish

Swiss Franc Forecast Turns Bullish

2011-09-15 15:05:00
David Rodriguez, Head of Product
Share:
ssi_usd-chf_body_Picture_9.png, Swiss Franc Forecast Turns Bullish

USDCHF – A recent shift in USDCHF sentiment suggests that the pair could see further short-term declines. Last week we pointed out a substantial shift in USDCHF positioning that called for further rallies. Indeed, it does seem as though the USDCHF set a lasting bottom and stands to rally through the coming months. Yet that doesn’t preclude shorter-term declines, and that’s exactly what the SSI forecasts for upcoming trade.

The ratio of long to short positions in the USDCHF stands at 1.86 as nearly 65% of traders are long. In detail, long positions are 0.7% lower than yesterday and a sizeable 62.3% stronger since last week. Short positions are 10.7% lower than yesterday and 22.9% weaker since last week. The SSI is a contrarian indicator and signals more USDCHF losses.

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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