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Swiss Franc expected to Fall Further

Swiss Franc expected to Fall Further

2012-01-05 16:10:00
David Rodriguez, Head of Product
Share:
ssi_usd-chf_body_Picture_10.png, Swiss Franc expected to Fall Further

USDCHF – A sudden shift towards crowd USDCHF selling gives contrarian signal that the pair could see fresh highs.

The ratio of long to short positions in the USDCHF stands at -1.39 as nearly 58% of traders are short. Yesterday, the ratio was at 1.14 as 53% of open positions were long. In detail, long positions are 24.9% lower than yesterday and 24.6% weaker since last week. Short positions are 19.8% higher than yesterday and 36.3% stronger since last week. Open interest is 4.1% weaker than yesterday and 2.4% below its monthly average.

The broad shift towards USDCHF selling gives us a contrarian bullish bias.

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

--- Written by David Rodriguez, Quantitative Strategist for DailyFX.com

To receive the SSI via e-mail and other reports from author David Rodríguez, e-mail subject line “Distribution List” to drodriguez@dailyfx.com

Contact David via Twitter at http://www.twitter.com/DRodriguezFX

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

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