No Brainer Trades - Seeking Alpha 'No Brainer Trades' Tag RSS Syndication from SeekingAlpha.com SeekingAlpha.com http://seekingalpha.com/author/no-brainer-trades CHF Intervention and Short Term Outlook for the USD http://seekingalpha.com/article/145287-chf-intervention-and-short-term-outlook-for-the-usd?source=feed 145287 When we look at the range of opportunities as traders, one world typically comes to mind: volatility. Yesterday provided us with perhaps some of the biggest string of events we have perhaps seen a several weeks, despite the ongoing, consolidated patterns across the breadth of majors.

If you follow my updates, I’ve been mentioning the 1.5000 SNB ‘tolerance’ level on EUR/CHF for the past week. Close to getting hit yet again Tuesday, the SNB reacted, this time in a very aggressive manner. Though they declined comments regarding any action, reports were coming through of ‘direct buys’ from the Bank and one particular UK clearer that spiked EUR/CHF from a low of 1.5013 to a high of 1.5381, for a daily range of approximately +368 pips. USD/CHF created a daily range of +390 pips. The pair currently trades towards the high of the initial spike, and consolidation is to be expected at this point. The luster seems to be over for the time being, and I currently don’t see a clear conviction to either buy or sell either of these pairs for the time being.

]]> Thu, 25 Jun 2009 06:26:26 -0400 No Brainer Trades When we look at the range of opportunities as traders, one world typically comes to mind: volatility. Yesterday provided us with perhaps some of the biggest string of events we have perhaps seen a several weeks, despite the ongoing, consolidated patterns across the breadth of majors.

If you follow my updates, I’ve been mentioning the 1.5000 SNB ‘tolerance’ level on EUR/CHF for the past week. Close to getting hit yet again Tuesday, the SNB reacted, this time in a very aggressive manner. Though they declined comments regarding any action, reports were coming through of ‘direct buys’ from the Bank and one particular UK clearer that spiked EUR/CHF from a low of 1.5013 to a high of 1.5381, for a daily range of approximately +368 pips. USD/CHF created a daily range of +390 pips. The pair currently trades towards the high of the initial spike, and consolidation is to be expected at this point. The luster seems to be over for the time being, and I currently don’t see a clear conviction to either buy or sell either of these pairs for the time being.


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