Swiss Franc Expectations Mixed as US Dollar Resilient
USDCHF - The ratio of long to short positions in the USDCHF stands at 1.53 as approximately 61% of traders are long. Yesterday the ratio was 1.55; 61% of open positions were long. In detail, long positions are 7.4% higher than yesterday and 7.3% above levels seen last week. Short positions are 8.8% higher than yesterday and 1.4% above levels seen last week. We use our SSI as a contrarian indicator to price action, and the fact that the majority of traders are long gives signal that the USDCHF may continue lower. Current SSI is lower than yesterday and higher from last week. The combination of current sentiment and recent changes gives a further mixed trading bias.
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