The chart am sure is self explanatory but additional information:
- 28 trading calls
- 22 correct trading calls which hit targets for a 79% success ratio
- Average Var on executed trades were a mere 2.4%
One trade is currently still open and hence we have not shared it here.
This is not a trade update so you may not want to read if you are time pressed.
Find our detailed analysis on CHF when SNB intervened. We were probably the only ones who backed the SNB to have successfully defended the EURO and more importantly the USD against a rampaging CHF. Not many on blogosphere would back a CB after Bank of Japan failed in defending the dollar against the YEN.
But we also went ahead and said that the CHF was weakening naturally given bad macro data from Switzerland and negative inflation. It was a matter of time before CHF really weakened. SNB did not have to intervene.
Find our analysis here
Since then the CHF has dramatically weakened against the USD. Check our trade today USD/CHF suggested at 0.8580 with a target of .8650-.8660. It was taken out 2 hours back.
8 Sept trades
Check back later for a detailed analysis on CHF. We believe CHF has now turned an important corner and so has the dollar.
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