US Labour holiday and market undecided with no fresh flows post- NFP data led Asian and European sessions having a quiet day.

EURUSD closing above 1.2855 resistance supported the bullish picture on the horizon over the weekend but market failed to push the price beyond 1.2920 level due to corporate supply after 1.2900 option barrier was taken out.

USDCHF / EURCHF heading south after the news suggesting that “German Banks May Need to Raise $135 Billion on Regulations” and let’s see if the news bad enough to take EURUSD lower as well..

1.2830-1.2925 would be a safe range (1.2875 spot ref.) while 1.2865 appears as a good intraday level to watch today.

USDJPY failing to take the resistance levels out and heading south after each rally makes us feel like a new “EURCHF” status.  A possible double bottom test on its way at 83.6s as market long in xxx-jpy  post NFP with decent stop orders located below the support.

Good Luck All.

After the high print of 1.6847 in 2007,  EURCHF started to drift lower to touch 1.4324 ( 23.6%  Fibonacci retrace of 1. 6847 to 1.3545 drop as well) with a quick bounce to 1.56.  Since then, market pushing the pair lower with flight to quality interest. Trying to catch SNB on the wrong foot is another story to add on the excessive, gappy moves.

The SNB’s indicator of excess liquidity also suggests that the risk posed by its current policy, although still tolerable, is rising. Broad money M3 growth accelerated to 7.1% yoy in May from 5.4% yoy in April, pushing the measure of excess liquidity.  If broad money growth accelerates further, it would challenge the sustainability of the SNB’s current policy regime from a monetary perspective.

I always mention the burden, agony of catching a falling knife but it feels like we reached the bottom in EURCHF at least for now.

Buy EURCHF below 1.3600, stop at 1.3490 while targeting a test and a break of of 1.3970 to double-up the position to take the profit at 1.4325.

Good Luck.

SNB showed us on Friday, that they are not sleeping… Technically and with that in mind, being long EUR/CHF can be tried again. I am currently sitting long some spot around 1.4710-15, will add through 1.4695-85-75 and lobb it out below 1.4650 on S/L. I think the moment has come to see it rise again, into the mid 1.48s. Good Luck!

After a few painful encounters with EUR/CHF longs and absence of SNB for the last 3 big figures, I refrained from trading it for a while now.

Currently, we are approaching a very important level though – and I won’t get around putting a bit of cash into that trade.

EUR/CHF’ last low – 1.4580-00 area – should be acting as a massive, massive support. I will try to get long around 1.4610-00 with a S/L sub 1.4560. T/P i will leave around 1.4700-20 for starters or trail the S/L once we take off from there.

The rest of the currencies are bit fickle today.. loads of headlines, “risk on” /  “risk off” and very flow driven.  Want to try to sell some EUR/USD around 1.4130-50, should I get the chance.

Early Asian trading, EURCHF dropped 1 big figure from 1.5010 to 1.4912 after an opening at 1.5015 this morning.

On 26th of November, SNB did an early London session intervention after a low print of 1.5012.

So anyone dare to wake him up while market playing hide&seek with massive SL orders on the downside ?