if you believe that we are in for a hard landing as I do, then this trade makes sense in so much that during the potential upcoming risk off in the next 6mths, everything (including gold) will get sold... and EUR being more of a funding ccy these days could be bid back as CHF gets sold off in sympathy with Gold? we may not see bottom of this channel again soon but if we do then that's decent RvR imho....
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