Since Swiss vote no for the Gold referendum, there won't be pressure on SNB, so they can keep and protect their floor at 1,2000.
From now it is a very low risk bet to go long with a clear stop. One good advise: do not place your stops below the 1,2000 floor, but rather at 1,2005 if offered. You know the devil never sleeps, and in case by some reason the peg is released this pair will have no bid at all, and you can end up in a pretty ugly stop execution. Anyway, even if once SNB decides abandon its floor, I doubt they would do it in one sudden move and/or without a pre-notice, but this is an assumption, and you can never base your risk management only on assumptions.
Daily: Bullish DMI cross, bullish MACD and Slow Stoch too. We may get a weak bullish Tenkan/Kijun cross and a weak bullish Chikou Span cross soon as well. Upper resistances are: 1,2054 (horizontal key) and 1,2075 (trendline and Senkou B). It worths to watch these levels, especially if by some magic reason Mr. Draghi disappoints mkts this Thursday, with not delivering an immediate full sovereign QE. That would trigger EUR short covering on all crosses before year end.
4 Hrs: All indicators turned bullish. I bought some after Price turned up again from Kijun Sen. I am looking to add to longs on dips.
p.s.: As I had 1,2000 Put option redemptions yesterday, I sold again some 1M 1,20 puts too.
From now it is a very low risk bet to go long with a clear stop. One good advise: do not place your stops below the 1,2000 floor, but rather at 1,2005 if offered. You know the devil never sleeps, and in case by some reason the peg is released this pair will have no bid at all, and you can end up in a pretty ugly stop execution. Anyway, even if once SNB decides abandon its floor, I doubt they would do it in one sudden move and/or without a pre-notice, but this is an assumption, and you can never base your risk management only on assumptions.
Daily: Bullish DMI cross, bullish MACD and Slow Stoch too. We may get a weak bullish Tenkan/Kijun cross and a weak bullish Chikou Span cross soon as well. Upper resistances are: 1,2054 (horizontal key) and 1,2075 (trendline and Senkou B). It worths to watch these levels, especially if by some magic reason Mr. Draghi disappoints mkts this Thursday, with not delivering an immediate full sovereign QE. That would trigger EUR short covering on all crosses before year end.
4 Hrs: All indicators turned bullish. I bought some after Price turned up again from Kijun Sen. I am looking to add to longs on dips.
p.s.: As I had 1,2000 Put option redemptions yesterday, I sold again some 1M 1,20 puts too.