USDCHF – Our contrarian positioning indicator accurately forecast that the US Dollar would rally against the Swiss franc through recent trade, and our SSI-based forex trading signals on DailyFX+ actually bought the USDCHF at 1.0887, 1.1016, and 1.1038. We see that the SSI continues to forecast USDCHF rallies, as the ratio of long to short positions in the pair currently stands at -1.64; 62 percent of traders are currently short the pair. We likewise see that forex trading crowds scaled back long positions, as USDCHF-buy orders fell 10.5 percent overnight. The SSI is a contrarian indicator and signals more USDCHF gains.
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