USD/CHF client sentiment: 90% long
Midway through the trading week, we update Client Sentiment levels - percentage of tastyfx clients with long or short positions - for major forex pairs like EUR/USD, USD/JPY, and more. Find out what traders are thinking this week.
Forex sentiment update
Lower-than-expected inflation data from the US this week has shaken up USD pairs across the board. Now at its lowest value since the start of 2015, only 10% of tastyfx traders believe USD/CHF will go lower.
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How client sentiment works
Client Sentiment shows the percentage of tastyfx client accounts with open positions that are currently long or short. If the majority of client accounts with open positions are long a given market, then they expect the price to rise; if the majority is short, then they expect it to fall. (Values taken using tastyfx's Client Sentiment measure as of the previous day's close.)
Trend followers might go with sentiment, while contrarians would tend to go against the trend. For example, a 65% long measure in EUR/USD could reflect a buying opportunity for trend followers or a selling opportunity for contrarians.
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EUR/USD sentiment - 71% short
Last week's sentiment: 52% short
Euro sentiment jumps to over 70% short as the pair breaks out of its recent range, trading over 1.1100. The last time EUR/USD traded that high was March 2022.
GBP/USD sentiment - 69% short
Last week's sentiment: 55% short
The British pound is also experiencing a yearlong high, fast approaching 1.3000. Traders are anticipating a reversal towards the dollar with an additional 14% of tastyfx clients holding short positions this week.
USD/JPY sentiment - 58% short
Last week's sentiment: 73% short
After multiple weeks above 142.00, USD/JPY is back under 140.00. Traders are split on the future direction of the yen as sentiment gets closer to 50/50.
USD/CHF sentiment - 90% long
Last week's sentiment: 79% long
Nine out of ten now hold long positions in USD/CHF. Traders expect a reversion towards its long-term mean as the pair continues to trend lower.
AUD/USD sentiment - 58% long
Last week's sentiment: 66% long
Australian dollar sentiment has fallen eight percent versus the US dollar in the past week. Traders are still short USD as AUD/USD is down over 300 pips from its year-to-date high.
USD/CAD sentiment - 65% long
Last week's sentiment: 68% long
With only a three percent change from last week, sentiment remains long USD. Traders are weighing both the US inflation data and the 25 bps interest rate hike from the Bank of Canada.
How to trade client sentiment
- Open an account to get started, or practice on a demo account
- Choose your forex trading platform
- Open, monitor, and close positions on forex pairs
Trading forex requires an account with a forex provider like tastyfx. Many traders also watch major forex pairs like EUR/USD and USD/JPY for potential opportunities based on economic events such as inflation releases or interest rate decisions. Economic events can produce more volatility for forex pairs, which can mean greater potential profits and losses as risks can increase at these times.
You can help develop your forex trading strategies using resources like tastyfx’s YouTube channel. Once your strategy is developed, you can follow the above steps to opening an account and getting started trading forex.
Your profit or loss is calculated according to your full position size. Leverage will magnify both your profits and losses. It’s important to manage your risks carefully as losses can exceed your deposit. Ensure you understand the risks and benefits associated with trading leveraged products before you start trading with them. Trade using money you’re comfortable losing.
This information has been prepared by tastyfx, a trading name of tastyfx LLC. This material does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. You should not treat any opinion expressed in this material as a specific inducement to make any investment or follow any strategy, but only as an expression of opinion. This material does not consider your investment objectives, financial situation or needs and is not intended as recommendations appropriate for you. No representation or warranty is given as to the accuracy or completeness of the above information. tastyfx accepts no responsibility for any use that may be made of these comments and for any consequences that result. See our Summary Conflicts Policy, available on our website.
