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    EMgist_Virg
    Nov 23, 2017

    12-24 hour trade: Sell CHF vs PLN or EUR

    in EMgist Live

    Trade of the day - Long PLN and EUR vs CHF on cenbank speak:


    CHF (-): SNB Jordan to reiterate overvaluation (1205pm SG time). Target EUR-CHF higher towards resistance 1.1642 (24hr high), 1.1667 (48hr high). Current 1.1604.


    PLN (+): NBP minutes neutral or mildly hawkish. Target EUR-PLN support at 4.205 (24hr low). Current 4.2129.

    EUR (+): ECB minutes could show more internal dissent than Draghi let on. Germany "new grand coalition" talks are emerging. Target EUR-USD towards or past 1.1846 (15 Nov high), 1.1852 (19 Oct high). Current 1.1819.


    Another plus:

    This trade is dollar-neutral.


    Visual: EUR-USD (blue) vs PLN-EUR (red) and CHF-EUR (pink) (Rebased 100 = 1mth ago)


    2 comments
    0
    EMgist_admin
    Nov 23, 2017

    Mild risk-off this European morning --> overlaying this strategy with a long JPY and a short GBP

    0
    EMgist_admin
    Nov 23, 2017

    SNB Jordan was underwhelming. Closing trades in case of no-go for SPD-Merkel arrangement (would be bearish EUR and PLN, bullish CHF).


    Closed trade for 0.4% gain (0.5% from long PLN-CHF, 0.3% from long EUR-CHF):

    Long PLN-CHF:

    Long EUR-CHF:


    0
    2 comments
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