Good call yesterday

Deciding to sit the rest of the day out was a good call. The first thought after a significant move, at least for many traders, is to catch the "inevitable" retracement which would have meant going short. However, I bet very few people expected the SNB or someone else to start purchasing the USDCHF in large quantities which drove up the EURCHF in kind. This was especially surprising because of the time, very late in the European session. All of the previous large moves have taken place much earlier in the day.