Swiss Franc May see Further Correction Before Continued Gains

[B]USD/CHF[/B][B] Ratio: 1.42
[/B][B]Signal: Bearish[/B]

                                 [B]Currency[/B]             [B]Last Week[/B]             [B]Present*[/B]             [B]% Long[/B]             [B]% Change in Positions   Outstanding[/B]             [B]Signal[/B]                               USD/CHF             1.7             [B]1.42[/B]             59%             13.23%             Bearish                


[B]USDCHF – [/B]Recent recovery in the USDCHF has left our Speculative Sentiment Indicator in less extreme territory. The ratio of long to short positions in the USDCHF stands at 1.43 as nearly 59% of traders are long. Yesterday, the ratio was at 1.65 as 62% of open positions were long. In detail, long positions are 5.5% lower than yesterday and 16.1% stronger since last week. Short positions are 9.0% higher than yesterday and 10.3% stronger since last week. Open interest is 0.0% weaker than yesterday and 2.2% above its monthly average. The SSI is a contrarian indicator and signals more USDCHF losses.