In a shock move the Swiss National Bank abandoned the 1.2000 floor today. The EUR/CHF crashed from 1.2000 to below 1.0000 within minutes of the announcement. Because I think the moves in the Swiss Franc may be overdone, I decided to play this with the EUR/USD. The SNB move will remove buying pressure from the Euro. We will no longer have a central bank buying up Euro denominated assets in an attempt to keep the 1.2000 floor. In addition to this, the rumblings about more QE on the European side grow louder every day, this too should aid my Euro short. I'm short from 1.1730 and currently up 34 pips.
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