09 January 2012

EUR/CHF : Partial Switch from EUR/USD

  • 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.

3 comments:

Taichiseal said...

Bought back USD/CHF at 0.9527

Taichiseal said...

Re-sold EUR/USD @ 1.2725 and 1.2771

Taichiseal said...

Philipp Hildebrand announced resignation.