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It appears the Swiss keep “raising the floor” on the EUR/CHF trade!
By Sean Hyman | July 24, 2009
Okay, I realize that this isn’t the only pair out there. However, it is likely the ideal candidate right now as it likely has much more upside potential than downside due to the constant intervening of the SNB – Swiss National Bank (Switzerland’s central bank).
Also, keep in mind, the trend is now upward recently…and no longer downward. Being that the EUR/CHF is one of the more widely watched/traded pairs by institutions (which produce such enormous volume for a “cross pair”), it won’t be long before their automated “trend following” programs kick in and aid the central bank’s efforts.
And…it appears that the SNB keeps going into the market and selling francs “sooner and sooner” all the time. See how it continues to “raise the floor” for the EUR/CHF pair. Click on the chart to enlarge it.
Sean Hyman
www.forextradingblog.com
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Tags: account, bank, blog, central bank, CHF, course, currency, demo, dow, EUR, forex, forextrading, free, fundamental, fx, fxedu, Hyman, market, mywealth, pair, practice, Sean, Sean Hyman, Swiss, technical, time, trade, trend
Topics: What To Look At In The Market | 1 Comment »
August 6th, 2009 at 12:09 am
Yes, I agree. With your comment.