USD/CHF IG Client Sentiment: Our Data Shows Traders Are Now Net-Short USD/CHF For The First Time Since Sep 09, 2022 When USD/CHF Traded Near 0.96.
Date
9/22/2022 2:41:48 PM
(MENAFN- DailyFX)
Number of traders net-short has increased by 6.52% from last week.
SYMBOLTRADING BIASNET-LONG%NET-SHORT%CHANGE IN LONGSCHANGE IN SHORTSCHANGE IN OI
| USD/CHF | BULLISH | 49.22% | 50.78% | -38.51% Daily -34.03% Weekly | 11.36% Daily 6.52% Weekly | -20.41% Daily -18.22% Weekly |
USD/CHF : Retail trader data shows 49.22% of traders are net-long with the ratio of traders short to long at 1.03 to 1. In fact, traders have remained net-short since Sep 09 when USD /CHF traded near 0.96, price has moved 1.93% higher since then. The number of traders net-long is 38.51% lower than yesterday and 34.03% lower from last week, while the number of traders net-short is 11.36% higher than yesterday and 6.52% higher from last week.
We typically take a contrarian view to crowd sentiment, and the fact traders are net-short suggests USD/CHF prices may continue to rise.
Our data shows traders are now net-short USD/CHF for the first time since Sep 09, 2022 when USD/CHF traded near 0.96. Traders are further net-short than yesterday and last week, and the combination of current sentiment and recent changes gives us a stronger USD/CHF-bullish contrarian trading bias.
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