Swiss Franc expected to Strengthen
The ratio of long to short positions in the USDCHF stands at 1.22 as nearly 55% of traders are long. Yesterday, the ratio was at 1.12 as 53% of open positions were long. In detail, long positions are 16.2% higher than yesterday and 21.5% stronger since last week. Short positions are 6.2% higher than yesterday and 15.7% weaker since last week.
The shift towards crowd USDCHF buying gives us contrarian signal that the pair may continue to trade at least modestly lower.
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--- Written by David Rodriguez, Quantitative Strategist for DailyFX.com
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