Swiss Franc expected to Rally
The ratio of long to short positions in the USDCHF stands at 1.18 as nearly 54% of traders are long. Yesterday, the ratio was at 1.36 as 58% of open positions were long. In detail, long positions are 3.6% higher than yesterday and 3.6% weaker since last week. Short positions are 19.7% higher than yesterday and 19.3% stronger 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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