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Attachments: EUR/CHF
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EUR/CHF

EURCHF is rising strongly on interbank. If this keeps on, official open at 23pm GMT will see gap up:

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Short squeeze is coming, buy as much as you can!!
It's true that EC don't really care of technical. But it still has its effect on the pair.

People who are posting their political views must calm down, you know nothing. If you see yourselves intelligent in that category, go post on Bloomberg, CNN, NBC.....not here on a Forex thread.
Trade according to current market condition, not what you think would be.
Quoting InsiderFX
EURCHF is rising strongly on interbank. If this keeps on, official open at 23pm GMT will see gap up: Short squeeze is coming, buy as much as you can!!
This is right. My decision of adding more long before Friday market close was smart I now have 4 Super Heavy longs 1.2130 1.2113 1.2094 1.2090
Trade according to current market condition, not what you think would be.
Quoting J.Clinton
It's true that EC don't really care of technical. But it still has its effect on the pair. People who are posting their political views must calm down, you know nothing. If you see yourselves intelligent in that category, go post on Bloomberg, CNN, NBC.....not here on a Forex thread.
LOL. Ukraine-russia made the CHF stronger. What dont you understand. Big money rather have it on a safe currency. Smarthead...
EURCHF is living its on life. But when it comes to crises CHF gets stronger. We have seen it before and we did it again on last Friday.

Im also in pretty hard on the Long at 1.2094. But trading this pair technically is just stupid. We all know the bottom is at 1.2 and that it is great risk reward. But technically u cant come up with much more.

Dont push people down, you know as litle as anyone else here does.
The only possible options are:

1) Floor unchanged at 1.20
2) Floor raised to 1.22, or 1.23

Check this 44 years USD/CHF monthly chart:

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No way Floor will be lowered. That is NOT possible. Switzerland has a long term real problem with their extremely strong franc.
Output in Switzerland is growing close to trend (unlike every country in Euroland) and there's very little labor slack.
This is reflected in SNB's measure of core inflation.

The persistent decline in EZ yields across the curve increases the attractiveness of Swissie.
The only question is when. Today's macro environment is still relatively uncertain.
A crawling peg seems much more likely than returning to a free float.

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Twitter - @Jimbaloo
Quoting Jimbaloo
Output in Switzerland is growing close to trend (unlike every country in Euroland) and there's very little labor slack. This is reflected in SNB's measure of core inflation. The persistent decline in EZ yields across the curve increases the attractiveness of Swissie. The only question is when. Today's macro environment is still relatively uncertain. A crawling peg seems much more likely than returning to a free float. {image}
I don't agree.. I think that there are no inflationary pressures in sight. Wages and domestic prices are rising modestly, while lower inflation in the euro area and the strong franc are pulling down imported inflation. The real exchange rate is stable and remains moderately overvalued, but this is no longer having a significant negative effect on the overall external performance.
Quoting enivid
{quote} That would squeeze the long-side speculators out, adding even more pressure on EUR/CHF. That's not what SNB wants.

They could also just support it enough to just keep it at exactly 1.2 like they did from April-Sept 2012
I have no doubt SNB have a plan for when they want to remove the peg when the right conditions are meet. I can only assume they would likely gradually remove it. The peg was never meant to be permanent.
I when read many imagining in their dreams that the peg will be removed more than thinking logically that SNB will raise the floor or simply intervene one soon day, when SNB mentioned in all its statements from the peg introduction date till today that they are ready to buy unlimited foreign currencies and defend the peg with utmost determination. What must make the peg remove lovers wake up from their dreams found in the same sentences they write!!! about safe haven ukraine conflict and any other war will increase yen and swiss franc currencies demands hugely, so why in hell will SNB remove the peg!!!!, to see EC the next day below parity!!! Can you go back to your rationality if any!!!!
Trade according to current market condition, not what you think would be.
I believe raising the floor to 1.25 1.30 or more will not be a problem for SNB. There's no practical relation between 1.20 peg is easier to defend than 1.30 or more.
When SNB intervene to 1.30(supposedly) and announce the new peg will be 1.30, it will finish there. They would have already paid the cost from the intervention money, no more. And just the new peg announcement will be enough to spike EC above 1.30 by far, that in its own will help SNB cover the intervention cost and might even use it to its advantage to make counter buying
Trade according to current market condition, not what you think would be.
I agree with J.Clinton. Simply read all the SNB's monetary policy statements from Sept 2011 (when floor at 1.20 was introduced). This is the last one, from 19 June 2014, which shows clearly SNB's position towards the 1.20 floor:

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Full document is avaiable here:

http://www.snb.ch/en/mmr/reference/p...40619_1.en.pdf

So please stop fapping at the idea of a floor lowering/floor removal. It will be better for your trading accounts
Above 1.21 again
Daily candle, if closing at this level or higher, is pretty nice.

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Quoting InsiderFX
I agree with J.Clinton. Simply read all the SNB's monetary policy statements from Sept 2011 (when floor at 1.20 was introduced). This is the last one, from 19 June 2014, which shows clearly SNB's position towards the 1.20 floor: {image} Full document is avaiable here: http://www.snb.ch/en/mmr/reference/p...40619_1.en.pdf So please stop fapping at the idea of a floor lowering/floor removal. It will be better for your trading accounts
The problem relies on finding people that have a little common sense nowadays, to read and think logically.
Trade according to current market condition, not what you think would be.
Quoting InsiderFX
Daily candle, if closing at this level or higher, is pretty nice. {image}
Yeah, right. It's going to 1.2130s first, it will have to stay there and hit 1.2150s then form a bullish path to 1.2175-80 that will be great if it breaks and go bullishly toward 1.2230s or 1.2250s.
Trade according to current market condition, not what you think would be.
After market dipped on reopen to 1.2084, I knew that it's doing that just to form a bottom from there on the daily, weekly and monthly.
Not sure if many brokers had same low but took advantage of that executing another Super Heavy Long at 1.2093 at that same instant the spread was 9 pips but I cared less, knowing that it will spike up soon and that's what happened

My Super Heavy Longs 1.2090 1.2093 1.2094 1.2113 1.2130 Take Profit= The Sky
Trade according to current market condition, not what you think would be.
Quoting J.Clinton
...My Super Heavy Longs 1.2090 1.2093 1.2094 1.2113 1.2130 Take Profit= The Sky
The big question is where to decide your sky ends (when to take profit)

I went super, super heavy long @ 1.205 back in 2011. I took some profit on the ride up to 1.26... but kept most of my longs. Now we are back 1.21.
Quoting J.Clinton
After market dipped on reopen to 1.2084, I knew that it's doing that just to form a bottom from there on the daily, weekly and monthly. Not sure if many brokers had same low but took advantage of that executing another Super Heavy Long at 1.2093 at that same instant the spread was 9 pips but I cared less, knowing that it will spike up soon and that's what happened My Super Heavy Longs 1.2090 1.2093 1.2094 1.2113 1.2130 Take Profit= The Sky
I really hope it shoots up. I have heavy longs at 1.2093 aswell. I see good potential technically. But lately it has not worked out trading it technically with this pair, at least for me. I just hope it will shoot up some day which im pretty sure of.
Quoting KarlHakan
{quote} I really hope it shoots up. I have heavy longs at 1.2093 aswell. I see good potential technically. But lately it has not worked out trading it technically with this pair, at least for me. I just hope it will shoot up some day which im pretty sure of.
we just need Draghi to say some good words a couple of times and the EC will skyrocket which eventually will happen. remember what happened in Jan 2013? exactly... now there has been a lot of long squeeze and i fear that it might extend more (hope not) maybe to 1.2030.. but i don't think there will be a soros moment and the floor won't break even if they decided to take the pair there.. it is also really funny how banks put forecasts at 1.25 etc.. for the next few months and there aren't any indications of any easing downside pressure on the pair.
Quoting fred3
{quote} The big question is where to decide your sky ends (when to take profit) I went super, super heavy long @ 1.205 back in 2011. I took some profit on the ride up to 1.26... but kept most of my longs. Now we are back 1.21.
I never do your same mistake. EC held much and tested 1.25-1.26 in different periods. 500 pips in hand for EC is more than enough when the pair moves up normally without intervention.
My take profits had been always realistic and I had trade EC as any other pair after it went from 1.200s to 1.26
I mix technical with fundamental, know when to stop.
Trade according to current market condition, not what you think would be.
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