USDCHF – Recently aggressive USDCHF buying has given our forex trading strategies contrarian signal to go short the currency pair. The ratio of long to short positions in the USDCHF stands at 2.95 as nearly 75% of traders are long. Yesterday, the ratio was at 3.60 as 78% of open positions were long. In detail, long positions are 19.0% lower than yesterday and an incredible 77.3% stronger since last week. Short positions are 1.2% lower than yesterday and 31.7% weaker since last week. The very recent drop in long orders gives us pause in our aggressively bearish bias, but longs continue to outnumber shorts by nearly 3:1—giving us contrarian bias to sell into USDCHF declines.
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