Afraid to short the USDCHF?
I’m asking you this because of a possible Swiss National Bank (SNB) intervention. But let me tell you something, they didn’t intervened on the USDCHF, but in the EURCHF.
If you take a look at both daily charts, you’ll see a big difference from one chart to the other. The EURCHF looks artificial, while the USDCHF is smoother, just like any other currency pair.
If the SNB intervenes on the EURCHF, yes, it will hurt my trade, but I don’t think they will allow the EURCHF to fall below 1.2… What do you think?
Anyway, the USD CHF just broke through an important support level, it’s one of the currency pairs I’m currently monitoring and I will be looking for short opportunities as long as it trade below 0.9094:
<img class=”aligncenter size-full wp-image-3802″ title=”usdchf61″ src=”http://www.protradingnow.com/wp-content/uploads/2012/02/usdchf61.png” alt=”” width=”351″ height=”373″ />
Are you with me?