CHF

still going up in the channel.. but showing divergences..

time has come to go short EURCHF with stop sell 1.2 SNB's words of mouth are about to be tested now they must sell their cheese

so far so good.. might go lower now..

eur/chf fixed.. so best trading swissie and euro seperately..

The SNB has committed itself to creating unlimited amounts of francs and selling them versus the euro to defend the currencys level, said Fabian Heller, an economist at Credit Suisse Group AG in Zurich. They will follow through on their commitment as otherwise their credibility would be clearly damaged and speculation would start again, most likely leading to renewed franc gains.
Ooops. Yes the SNB has no reserves left so it joins the liquidity printer's club. But SNB cannot print as much as the ECB and when inevitably EUR is sold again for CHF SNB is 800 bln behind in printing.
Thus CHF long is the name of the game. Its a matter of entry. With all that vola ahead I roughly calculate entry between 1.22 and 1.25 to the EUR.