📍 EURCHF
On the CHF side, we had started to see a lot of plumbing from SNB at the lows 1.06xx-1.05xx and for those following the flows it was the 🔑 level we were to tracking in Q1.
It is no surprise that we are reaching the end of 'Phase 1' and constituting a very powerful base that we can now use as an attacking weapon. The purpose of the sweep was to shake the tree and put out of action early buyers and late sellers. The concept of Eurobonds is more than enough to capture the highlights of this establishment, a consolidation that will undoubtedly be endurable.
Well done all those riding this pig, a move that will be difficult to defend against. A nice late breakfast while EURCHF trades levels not seen since 2019. Although CHF is going to benefit from risk off flows versus USD, I am bullish on the euro and could not step against this train. A break of 1.10 will send the message.
On the CHF side, we had started to see a lot of plumbing from SNB at the lows 1.06xx-1.05xx and for those following the flows it was the 🔑 level we were to tracking in Q1.
It is no surprise that we are reaching the end of 'Phase 1' and constituting a very powerful base that we can now use as an attacking weapon. The purpose of the sweep was to shake the tree and put out of action early buyers and late sellers. The concept of Eurobonds is more than enough to capture the highlights of this establishment, a consolidation that will undoubtedly be endurable.
Well done all those riding this pig, a move that will be difficult to defend against. A nice late breakfast while EURCHF trades levels not seen since 2019. Although CHF is going to benefit from risk off flows versus USD, I am bullish on the euro and could not step against this train. A break of 1.10 will send the message.
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about EURCHF