ridethepig | EURCHF Market Commentary 2020.15.01
Updated
CHF a clear winner in the G10 space has been a finding strong bid via smart money smelling the markets strength of conviction in the SNB ability to intervene decreasing. Positioning is far from stretched, meaning there is plenty of room left on the boat.
For those tracking the USDCHF flows 0.970x remains the key level to track:
The technical picture is clearer in EURCHF in my books, a clean breakdown in play with eyes on the C leg completing at 1.06xx. I have switched to the sell side after the recent breakdown and actively adding shorts in the 1.08xx handle.
The 1.06xx handle will become very attractive for longs next month... good luck all trading the selloff into end of Jan.
For those tracking the USDCHF flows 0.970x remains the key level to track:
The technical picture is clearer in EURCHF in my books, a clean breakdown in play with eyes on the C leg completing at 1.06xx. I have switched to the sell side after the recent breakdown and actively adding shorts in the 1.08xx handle.
The 1.06xx handle will become very attractive for longs next month... good luck all trading the selloff into end of Jan.
Note
Note
Note
Starting to get itchy handsTrade closed: target reached
Well done sellers, all targets cleared here!
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