Trading the USDCHF on July 24, 2013 44 ITM

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USD/CHF IG Client Sentiment: Our data shows traders are now net-short USD/CHF for the first time since Mar 27, 2020 when USD/CHF traded near 0.95.

Number of traders net-short has increased by 31.79% from last week.

CHANGE IN LONGS

CHANGE IN SHORTS

USD/CHF: Retail trader data shows 49.21% 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 Mar 27 when USD/CHF traded near 0.95, price has moved 2.53% higher since then. The number of traders net-long is 7.78% lower than yesterday and 7.43% lower from last week, while the number of traders net-short is 25.98% higher than yesterday and 31.79% 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 Mar 27, 2020 when USD/CHF traded near 0.95. 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.

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

USD/CHF Forecast Swiss Franc on July 4, 2020

Currency pair USD/CHF US Dollar to Swiss Franc continues to trade as part of the decline. At the moment, the values ​​of the relative strength indicator have broken through the resistance line. It is expected to rebound and the growth of quotations of the Dollar Frank pair in the area above the level of 0.9720.

USD/CHF Forecast Swiss Franc on July 4, 2020

Cancel the option of growth of the pair USD/CHF will fall and breakdown of the area of ​​0.95, indicating that the acceleration of the pair’s quotes decline.

Important news from Switzerland, which may have an impact on the Swiss Franc, is not expected, so the pair will continue to move in the technical analysis of USD/CHF.

USD/CHF Forecast Swiss Franc on July 4, 2020 suggests a correction attempt to the upper border of the bearish channel at the level of 0.9720, an additional signal is a breakdown of the trend line on the relative strength indicator, the breakdown of the area will be 0.95.

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Danske Bank Forex Trade Signals – July 24, 2020

Trade Signals provided by Danske Bank

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EUR/USD: await trade opportunity to sell

USD/JPY: hold short from 101.83 with a target of 100.76 and a revised stop at 101.63

GBP/USD: hold short at 1.7100 with a target of 1.6972 and a revised stop at 1.7100

USD/CHF: hold long from 0.8909 with a target of 0.9064 and a revised stop at 0.8955

AUD/USD: possibly buy

USD/CAD: hold short from 1.0785 with a target of 1.0620 and a revised stop at 1.0770

FOREX EU news, opinions, analyses, research, quotes, charts, or other information on this website is provided as general market commentary, and does not constitute investment advice. FOREX EU will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information.

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