Swiss Franc Forecast to Strengthen
USDCHF – Trading crowds are once again net-long the US Dollar against the Swiss Franc, giving contrarian signal that the pair may continue its recent losses. The ratio of long to short positions in the USDCHF stands at 1.41 as nearly 59% of traders are long. Said ratio is up slightly from yesterday as long positions gained 8.4 percent overnight and short positions slipped 6.2 percent.
The net-long SSI ratio and continued crowd USDCHF buying gives contrarian signal that the pair may continue its recent declines.
How do we interpret the SSI? Watch an FXCM Expo Presentation that explains the SSI.
--- Written by David Rodriguez, Quantitative Strategist for DailyFX.com
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