Number of traders net-short has increased by 31.79% from last week.
CHANGE IN LONGS
CHANGE IN SHORTS
CHANGE IN OI
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.