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Swiss Franc expected to Rally Further

Swiss Franc expected to Rally Further

David Rodriguez, Head of Product
ssi_usd-chf_body_Picture_19.png, Swiss Franc expected to Rally Further

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 2.49 as nearly 71% of traders are long. Long positions are 3.7% lower than yesterday yet 32.3% stronger since last week. Short positions are 4.3% higher than yesterday but 33.9% weaker since last week.

Consistent USDCHF buying suggests that the pair could continue towards fresh lows.

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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