maccabean
Long

Trade of the day. Buy USDCHF. Oversold.

FX:USDCHF   U.S. Dollar/Swiss Franc
This could be a very profitable trade.

The way I see it is that the price is oversold, dropping to fundamental support.

Now, this is important, if the SNB anticipates larger QE by the ECB, they will drop the interest rate further into negative territory. This could be a huge event as the SNB believes the currency is already severely overvalued.

The SNB will hit the market like they did a year ago with this announcement. I recommend buy stops with stop losses below long term support.
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