ridethepig
Long

After taking profits here we are switching sides...

FOREXCOM:USDCHF   U.S. Dollar / Swiss Franc
=> As mentioned previously we are not expecting anything but dovish commentary from the SNB later this week.... vol is cheap and we see USDCHF trading back to the previous break down levels.
=> The higher US rates = higher USD narrative is starting to fade so this remains only a short-term play before the hikes later this month. The stage is being set for a mid-term devaluation in the dollar against major currencies. (Despite growth continuing to tick above trend cracks are beginning to appear. )
=> This backdrop on the macro positioning means we see this only as a short-term valuation play using a dovish SNB as the ebb and flow.
=> Good luck to those trading this one in live
Comment: First target cleared here in USDCHF
Comment: 170 pips well done all
Trade closed: target reached
Thanks for sharing!! Got in !!
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@USAS_INC, GL mate, as expected bulls are showing up..
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USAS_INC ridethepig
@ridethepig, FED rate hike bulls or bears for dollar?
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@USAS_INC, Initial reaction will be dollar positive. I am going to be covering in more detail this event live in the telegram. In a nutshell mate: we are tracking any change in description of "accommodative" ... personally I am expecting this to be the last and final hike of the year, a mention from FED on EM risks and trade tensions will do the trick.

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USAS_INC ridethepig
@ridethepig, Fakey recovery it seemes!!!
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@USAS_INC, We are aligning for a soft hike, will be more than enough to clear the targets here.
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@USAS_INC, "accommodative" removed as widely expected... :)
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USAS_INC ridethepig
@ridethepig, U read it well!!
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Got knocked out of my long for break even, could be a short...
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@br0qn, Good luck mate
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