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Swiss Franc expected to Strengthen

Swiss Franc expected to Strengthen

David Rodriguez, Head of Product
ssi_usd-chf_body_Picture_10.png, Swiss Franc expected to Strengthen

USDCHF – Forex trading crowds have turned net-long the US Dollar against the Swiss Franc, giving contrarian signal that the pair could trade lower through the foreseeable future.

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.

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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