Disclaimer: The opinions expressed in this article are the personal views of the author and do not constitute investment advice.
Since the SNB has put a floor under the swissie, the CHF pairs were probably out of favour for most traders, bar the 5 minute scalpers.
However, as this crazy market is desperately trying to find “safe havens” for money, we could see over the next two weeks a strong demand for the CHF and perhaps the yen, also for gold. As I’m writing this, USD/CHF has breached the 4 hour ascending trendline and is turning bearish. Gold has given us a false break yesterday but as traders are leaving their desks for the holidays, most of them would probably like to see their investment in gold rather than anything else.
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