Looks like the franc is providing a safe harbor for those who want to be short dollars but are nervous about holding EUR/USD longs amid a rekindling of sovereign debt tensions within Europe. EUR/CHF has come off to 1.3700 from … Continue reading
EUR/CHF up at 1.3680 from early 1.3635. Talk of 1.3700 option interest. Guess we should expect some defensive selling to kick in then.
As I wrote yesterday, I thought this was a bad trade anyway, jumping in with the herd simply because it was headed in one direction. Putting on a medium-term trade with aggressive profit-limits and then cutting it less than 24 … Continue reading
No change in the prognosis here with heavy demand below 1.3850 providing a base overnight and there is also talk of barriers at 1.3800 which will be protected. With the topside also heavy with option-related selling, we can expect more … Continue reading
The dollar is showing strength across the board today with covering of stale short positions the primary driver. USD/CHF has pushed to a new session high at 0.9860 and more and more that pair looks like it has made a … Continue reading
They apparently went long EUR/CHF on Friday at 1.3536. Target 1.4500. Stop loss 1.3305. We’re presently at 1.3640.
EUR/GBP and EUR/CHF both made strong gains on Friday night. As I mentioned on Friday, the EUR/CHF order board gave us a lot of clues with big bids on the downside and stops above the market. Those stops have now … Continue reading
USD/JPY: Kampo and China buying dips below 81.00; Real-money funds and Japanese corporates selling above 82.00 EUR/USD: Option related bids 1.3850/60; stops below 1.3825; light stops above 1.3945; sell orders starting 1.3980 EUR/CHF: Plentiful bids reported starting at 1.3420; stops … Continue reading
EUR/CHF up at 1.3445 from around 1.3410 when I arrived with a UK clearer said to have been notable buyer of the cross in this latest leg higher. EUR/GBP up at .8785 from early .8765. Talk of sell orders up … Continue reading
Yesterday in Asia we saw AUD/JPY fall and overnight there was a very big fall in GBP/CHF, both traditional risk pairs. This suggests to me that we may be entering a slightly different phase where the market concentrates more on cross … Continue reading