USD/CHF: Retail trader data shows 83.72% of traders are net-long with the ratio of traders long to short at 5.14 to 1. Our data shows traders are now at their most net-long USD/CHF since Nov 17 when USD/CHF traded near 0.95. The number of traders net-long is 10.64% higher than yesterday and 24.47% higher from last week, while the number of traders net-short is 25.41% lower than yesterday and 5.21% lower from last week.
We typically take a contrarian view to crowd sentiment, and the fact traders are net-long suggests USD/CHF prices may continue to fall.
Traders are further net-long than yesterday and last week, and the combination of current sentiment and recent changes gives us a stronger USD/CHF-bearish contrarian trading bias.
