The EUR/CHF pair continued to do very little during the Thursday session as the 1.20 level is still being defended by the Swiss National Bank. The pair simply hasn’t been able to do much as the Euro is certainly a currency that nobody wants to hold at this point, and the Franc is being so aggressively worked against. With this in mind, there is a good chance this pair will continue to grind sideways, and therefore keep us out of this pair now. (We have been collecting the positive swap from our broker, but have since closed at breakeven plus the swap we had accumulated.) For us, this market is dead money.

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Originally posted here