Positioning on the swiss franc prior to the Swiss National Bank's interest rate decision fueled some volatility on the swissie pairs during the early portion of today's New York session. A classic breakout-pullback-extension move on the EUR/CHF currency pair reached the daily M4 pivot point within minutes of the SNB news. While some traders who took the 80-pip profit off the table might have felt cheated as the next 15-minute candle stretched north some 360 pips in response to the SNB's decision to pursue competitive devaluation and debt monetization, seasoned traders are already looking ahead to future opportunities to profit from the swissie.
yeah buying eurchf, was a good trade earning many pips
aleventy 3 years ago
What a drop in the CHF!!!!
cadelevans 3 years ago