USD/CHF Outlook Weak According to IG Client Sentiment Data
Bearish signal for USD/CHF from IG client sentiment data. Positioning data from retail traders using IG show that almost three quarters of them are now net long for USD/CHF, with the ratio of traders long to short at almost three to one. The number of traders net long is nearly 11% higher than on Tuesday and 1.3% higher than last week, while the number of traders net short is more than 9% lower than on Tuesday and a remarkable 35% lower than last week. The bearish signal follows a period of relative stability for the USD/CHF pair and implies that it could now drop to the recent low at CHf93.76 touched on 11 June.