Yes, that was my position and I had to apply some dynamic hedging when we reached 1.45 something. Bad timing. Agreed. Actually, I am playing now the range 1.41 - 1.49. You know, there are thousands of put option holders in the range 1.41-1.44. Usually a sign for mega bull trends. But hey, what do I know ? Nothing.
Retail traders still short massively EUR/USD. Look for a short squeeze. I am exiting all PUT options assembled in the last 2 weeks. GL+GT
hate to think what will happen to eur if eurchf breaks down. Playing at all time lows right now. Stat says eurchf more likely to go down than up. qe3 ? maybe not. Sure us hedge funds are short eur....
EURCHF has much more room. Every habitant of Greece and other EU countries is running into Swiss banks fearful of a EURO disaster. Remember: bank(st)ers have always been specialists in fear mongering-which creates volatility-which creates "opportunity".
Last print 1.2181. Ouch, this must hurt Swiss exporters.Maybe UBS and CS will finally start to think the "Swiss way"?