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Swiss Franc Likely to Strengthen Further

Swiss Franc Likely to Strengthen Further

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

USDCHF – Forex trading crowds remain net-long the US Dollar against the Swiss Franc, giving steady contrarian signal that the pair may continue recent declines.

Our Speculative Sentiment Index ratio stands at 2.78 as 74% of traders in our sample are currently long. It is worth noting that long interest has fallen 13% since last week while shorts are down a lesser 7%. Yet such one-sided sentiment gives us little reason to favor anything other than further US Dollar losses against the Swiss Franc.

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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