About as flat as a giant Toblerone

Yes folks it’s another hum-dinger, blink-and-you-miss it performance from these little tinkers again amidst continuing gossip about SNB targets around 1.1000/revised CHFcap policy to include a basket of currencies

USDCHF highs of 0.9242 from 0.9080 early doors and EURCHF 1.0449 from 1.0240

Currently 0.9170 and 1.0391 in an equal rush with CHFJPY128.56 from sub 127.80 lows after a 129.80 opener

Toblerone- other chocolate bars are available but not ones that look so much like CHF pairs

Other chocolate bars are available but not ones that look so much like the price action in CHF pairs

I said earlier, and have done for a while now, that I prefer to buy the dips on EURCHF but judging the moment on a rising market is not so easy, particularly given the sharp pull backs that we’ve seen after similar rallies this week.

This is not a time/market for precise science since the SNB debacle but 1.0350-55 would be a near-term buy area from here with more bids expected into 1.0305-15 and plenty into 1.0250. Offers we know at 1.0450-60 and more into 1.0560

Good two-way business and arguably equal reason to be selling rallies, as I’m sure some of you are and indeed as I was pre-SNB (though not short at the time as you know to my eternal chagrin) but this feels a little different/overdone down here/below 1.0000.

Not price action for the feint hearted but great opportunity nonetheless

EURCHF 5 min 29 Jan

EURCHF 5 min 29 Jan