Swiss Franc Forecast to Strengthen Further
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 indeed long interest has grown since last week.
Trade Implications – Two of our sentiment-based trading strategies have sold the USDCHF from SFr 0.9277 and SFr 0.9257, and a break below 8-month lows near SFr 0.9080 would further solidify our bearish trading bias.
--- Written by David Rodriguez, Quantitative Strategist for DailyFX.com
To receive the Speculative Sentiment Index and other reports from this author via e-mail, sign up for his distribution list via this link.
New to FX markets? Learn more in our video trading guide.
Contact David via
Twitter at http://www.twitter.com/DRodriguezFX
Facebook at http://www.Facebook.com/DRodriguezFX