I’m a EUR/CHF bull but…

Author: Adam Button | Category: Central Banks

I’m taking profits on EUR/CHF longs here.

The SNB can come out tomorrow and say just about anything but unless they hike the peg, it’s hard to see this pair going higher. The market is so long that any upside move will be overwhelmed by profit taking.

For me, the trade is to buy at 1.2030/40, sell at 1.2100/20 and repeat. Spot is at 1.2135.

USD/CHF is getting squeezed, up to 0.9322 as stops above 0.9300 gave way.

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