Others/Trade Ideas

USD/CHF: Longs looking better but still a long way to go

The charts aren’t a whole lot of help to me with this trade and my reasoning has been fairly simplified; the breakdown in Gold and the sell-off in the Yen should be enough of an indicator to drive the market out of its supposedly ‘safe’ safe-haven trade in the CHF.

I prefer to trade this idea via the USD rather than the EUR, but I’ve been finding it tricky to find the correct levels to increase the position at. I’ll just sit on the position for a while and hope that volatility picks up, as I find that trading swings is easier in volatile markets.

  1. Good evening Sean,

    Thanks for this reply on USD/CHF. I got out yesterday on EUR/GBP. By the way, you have had the right level at 8510.

  2. Nice cut on EUR/GBP, its very choppy at mom and suits range/swing traders. Not 100% sure on Swissy lvls but we have the right position. Maybe some consolidation 9350/9500 be4 higher?

  3. Thanks Sean,

    Did you heard something on EUR/CHF ? Is it only the rumour about the SNB peg ? or a real opportunity and the HFs jumped in yesterday ?

  4. Usual mkt rumours can be ignored for now I feel, CHF is historically way overvalued and reasons for holding it are diminishing, that’s the main story.

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