That didn’t last long
Dennis Gartman put out his latest letter a few hours ago with a new FX trade recommendation.
He suggested selling EUR/CHF at 1.1285 with a retail-like stop of 1.1315 and a target of 1.07-1.08.
The trade was stopped out almost as soon as it was issued as EUR/CHF rose on Draghi’s hawkish comments.
In the bigger picture, Gartman was going with the trend and there is more resistance at the Sept high of 1.1343 but a 30-pip stop is insanely tight for a big global macro trade.
Gartman is also short the euro and long gold in a separate trade.