Swiss Franc Likely to Strengthen Further
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
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