FOREX ANALYSIS: Swiss Franc Outlook Remains Bullish
USDCHF–Retail forex trading crowds have remained steadily net-long the US Dollar (ticker: USDOLLAR) versus the Swiss Franc since it crossed below SFr 0.9500, and relatively unchanged sentiment gives us little reason to go against our contrarian bearish trading bias.
According to our proprietary Speculative Sentiment Index data, there are currently 3.7 traders long USDCHF for every 1 short. This is almost unchanged from the 4.0:1 seen last week, and we remain bearish as a result.
--- Written by David Rodriguez, Quantitative Strategist for DailyFX.com
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