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12 Aug 2014
Sell signal in USD/CHF on crowded longs - Standard Chartered
FXStreet (Bali) - According to Standard Chartered, their IMM positioning model has generated a sell signal in USD/CHF on crowded longs.
Key Quotes
"Our IMM positioning model is showing a tactical ‘Sell’ signal for USD-CHF on extreme position skew. The short-term USD-CHF technical outlook has also turned down, supporting a corrective pullback. The medium-term outlook remains bullish USD-CHF on policy divergence, rate spreads, valuation. The best way, in our view, to play this tactical rebound in the CHF is against the USD rather than crosses."
Key Quotes
"Our IMM positioning model is showing a tactical ‘Sell’ signal for USD-CHF on extreme position skew. The short-term USD-CHF technical outlook has also turned down, supporting a corrective pullback. The medium-term outlook remains bullish USD-CHF on policy divergence, rate spreads, valuation. The best way, in our view, to play this tactical rebound in the CHF is against the USD rather than crosses."