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Swiss Franc Outlook Turns Bearish
Written by article default Thursday, 07 October 2010 10:33
USDCHF – The ratio of long to short positions in the USDCHF stands at 4.21 as nearly 81% of traders are long. Yesterday, the ratio was at 4.98 as 83% of open positions were long. In detail, long positions are 12.2% lower than yesterday and 7.3% stronger since last week. Short positions are 4.0% higher than yesterday and 8.7% weaker since last week. Open interest is 9.5% weaker than yesterday and 13.3% above its monthly average. Much like we see in the EURUSD, price has set a new extreme while SSI has not. The overnight decline in long positions suggests we are at a sentiment extreme and a turn is increasingly likely.
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