Month-end not providing us with too many fireworks; however, it generally saw CHF trade with an offered tone. This took CHFJPY briefly below 169 and towards 168.80 support, although we find ourselves higher today. I continue to hold CHFJPY shorts; however, I would be frustrated to see the pair back on a 170 handle and towards the 100-day at 170.84. The view here remains bearish on CHF due to a dovish SNB, low yields, and both RM and systematics sitting with decent-sized longs in CHF. EURCHF and USDCHF, however, remain trading with the broader dollar/market sentiment, so for now, I have little appetite to be involved in either, especially as tomorrow should be whippy. Flow-wise, we saw decent appetite to buy CHF from HFs yesterday, and interestingly, RM and systematics selling CHF.
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1. AccuTrade System:
tradingview.com/v/yDFPnb1J/
2. Signal Performance:
thedailyfx.com/performance/
3. We provide Free TradingView Premium and Essential Membership.
tradingview.com/v/yDFPnb1J/
2. Signal Performance:
thedailyfx.com/performance/
3. We provide Free TradingView Premium and Essential Membership.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.