Banker928
Long

EURCHF - Long

FX:EURCHF   Euro / Swiss Franc
67 0 3
the Swiss national bank imposes a strict floor on this pair at 1.2000. There is no reason to reasonably expect this floor to be broken, therefore the risk behind this trade is minimal. The lowest this pair has ever been since this floor has been established 3 years ago is 1.1985 so I will place my SL slightly below this at 1.1981. Target will be 1.2050.

There is a referendum on whether or not the SNB should be restricted (this could influence its ability to enforce the 1.20 floor) that will be voted on the 30th. I would not expect this to be passed, therefore I would expect the pair to appreciate following the voting results.
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