Swiss Franc Shows Mixed Positioning, Outlook
The ratio of long to short positions in the USDCHF stands at 1.26 as nearly 56% of traders are long. Yesterday, the ratio was at -1.55 as 61% of open positions were short. In detail, long positions are 54.6% higher than yesterday and 43.9% stronger since last week. Short positions are 21.1% lower than yesterday and 14.6% stronger since last week.
The sharp shift towards buying gives us a modestly bearish short-term trading bias. Yet we caution against taking aggressive short positions against what has been a fairly clear USDCHF uptrend.
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--- Written by David Rodriguez, Quantitative Strategist for DailyFX.com
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