Intraday Market Thoughts

CHF & GBP Positioning

by Ashraf Laidi
May 20, 2014 19:16

Whether we expect USDCHF to break above its 100-DMA this time around, what's the better tactical play in CHF ahead of the Eurozone event-risk. After having been stopped out by 7 pips from our Mar 20 USDCHF long trade at 0.8710, what is the next action plan? We issue fresh CHF trades and 3 charts (Net CHF longs positioning, CHFJPY & & 100-DMA spot). 2 existing GBPUSD Premium trades are in progress ahead of Wednesday's UK retail sales & MPC minutes as are the existing shorts in USDJPY, NZDUSD and NZDJPY. All charts & trades in latest premium Insights.

Act Exp Prev GMT
Retail Sales (APR) (m/m)
0.5% 0.1% May 21 8:30
Retail Sales ex-Fuel (APR) (m/m)
0.5% -0.4% May 21 8:30
Retail Sales (APR) (y/y)
5.2% 4.2% May 21 8:30
Retail Sales ex-Fuel (APR) (y/y)
5.3% 4.2% May 21 8:30
Bank of England Minutes
May 21 8:30

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