- Attached chart = EUR/CHF daily. Looks very much like a topping price action. In addition to EUR weakness, one wonder if perhaps "insider trading" suspicions of the EUR/CHF floor's chief architect might perhaps contribute to the chart performing on the downside. Had previously planned to be buying EUR/CHF near to 1.2150 but have now changed my mind and gone the other way instead.
- Have today :=
- 1. taken profit on 25% of short EUR/USD 1.2680.
- 2. switched 25% of short EUR/USD to short EUR/CHF by selling USD/CHF at 0.9594 (almost high of the day). [Actual trade = Bought SFH2 @ 1.0433].
- 3. Balance of 50% - still holding (direct short EUR/USD).
- Markets tend to always want to challenge central banks' line in the sand. Buy more CHF if we close convincingly below 1.2130. Since day 1, I had thought the SNB move was foolish.
09 January 2012
EUR/CHF : Partial Switch from EUR/USD
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3 comments:
Bought back USD/CHF at 0.9527
Re-sold EUR/USD @ 1.2725 and 1.2771
Philipp Hildebrand announced resignation.
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