Refer to the recent past live analyses in February and March 2016 when I said I would be shorting the EURCHF on the bearish wedge breakdown which I deemed to be a reliable breakdown and for which I deemed to be a good reward-risk ratio:
Swiss Franc is weak beyond my expectation. Seems like SNB's negative interest rate and Switzerland's preposterous idea of even giving out free money of US$2,500 per month (S$3,485 a month) to every Swiss national for doing nothing (unconditional minimum income) is having some effects. This is as good as flushing boatloads of Swiss Francs down to the main street.
Full technicals as illustrated on chart.
Below are the losses converted into (SD) Singapore Dollar (SGD).
- S$ 57,586 SGD
= + S$ 1,154,915 SGD