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FOREX ANALYSIS: Swiss Franc Outlook Favors Gains

FOREX ANALYSIS: Swiss Franc Outlook Favors Gains

2012-12-20 16:00:00
David Rodriguez, Head of Product
Share:
ssi_usd-chf_body_Picture_11.png, FOREX ANALYSIS: Swiss Franc Outlook Favors Gains

USDCHF Retail forex traders have remained aggressively net-long the US Dollar (ticker: USDOLLAR) versus the Swiss Franc since it crossed below the SFr 0.9500 mark in early September. We have accordingly called for further declines, and a recent build in long positions solidifies our bearish bias.

There are currently 3.4 retail traders long the USDCHF for every one that is short. Said ratio is mostly unchanged since last week and leaves our contrarian bearish bias intact.

--- Written by David Rodriguez, Quantitative Strategist for DailyFX.com

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