* Optimal weighting for first target is 80%. When Target price is achieved set remainder with a stop at break even. Trailing stops can improve the performance of this strategy as well.
CHF Commentary -
With the risk profile seen as "asymmetrical" Dollar majors have been happy to maintain recent ranges ahead of the release, USD/CHF continues to trade around the 1.2150 mark while option barriers into 1.2200 are confirmed on the topside. Below 1.2135 props with more support into 1.2095/2100. Following this 13:40 sees the ECRI release its monthly inflation gauge index for April and at 13:45 GMT the Fed"s Geithner is set to speak. Elsewhere, the unexpected rise in Swiss inflation (data released yesterday) may well prove short-lived but this will not stop the market mulling over the potential for a more aggressive SNB rate move in Q2. There is an old expression "make hay while the sun shines" and economists are simply putting this to practice as the market mulls over the potential for a 50bp hike.
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