The Swiss National Bank (SNB) had set a price floor for EURCHF at 1.2000, and price is dangerously close at 1.2010 right now. Actually, it has been hovering at that price for a good many months! Take a look at the chart here:
Each vertical section represents 1 month, so we can see that prices have been stagnating for many months now. Now, EURCHF is not a currency pair that I usually trade, nor am I a fundamentals trader, so I didn’t even know about the price floor until a friend told me.
And since I know now, I thought you should know too!
If you are keen to take a position, you might want to consider going long (it’s a price floor after all). But remember, there are no guarantees in trading, so remember your risk management and position sizing too.
Here’s an April 2012 special report by DailyFX which I found:
Euro/Swiss Franc Nears 1.20, Swiss National Bank Hovers-Trade Setups?
