I’m expecting the SNB to raise the EUR/CHF ‘base’ to 1.25 later today, so that being the case surely I should be buying EUR/CHF now. I suppose so, but the risk-reward isn’t attractive; the market is long ahead of the decision so I cannot see a big rally happening and if the SNB sit on their hands, then we will see a sharp 200 pip sell-off imho.
Nothing has moved at all in Asia but EUR/CHF has managed to edge 20 pips higher ahead of the European open. Sell orders noted 1.2425/50 in particular and if I were long, I’d also sell at that level and forget the possible 75 pips extra.
