August 24, 2011
Ranging, ranging, ranging! That’s all what franc pairs have been doing lately! Once again, USD/CHF traded within a tight consolidation of just 80 pips, as traders are unsure what to do with the pair. Will we finally see a breakout today?
Chances are no… UNLESS of course, the SNB decides to intervene in the markets. After all, it’s been the threat of SNB intervention that has kept franc trading subdued over the past week. While there is still a lot of tension in the markets, traders are afraid to keep buying up the franc.
For the meantime, all you Swissy traders just be patient and once you see a breakout of the consolidation, make sure you’re ready for some wild moves!
"The only cable I watch is the pound baby."