Trading the EUR/CHF Long at the moment is the epitome of hope. All those longs hope and pray that the SNB will come to the rescue. I only hope that there are longs out there that have other plays in the market. Really being long just because the SNB said something in very different economic environments is pure hope, nothing more. The trend has been down for a long time now, the technicals are bearish and even the fundamentals don't look sound but still there are plenty of longs, some that have held for 30-40 or more pips in losses, absorbing the costs of each little down tick for what, a peg.
I have my popcorn ready, just hope people have protected themselves in case the SNB fail to hold the peg at 1.2 and all those stops get wiped out.
I have my popcorn ready, just hope people have protected themselves in case the SNB fail to hold the peg at 1.2 and all those stops get wiped out.