I think they were trying to make their line in sand. They're basically saying... "either you're with the SNB or not". We could see a very massive intervention soon.
Ignored
Ok, so before you said you couldn't see them pushing it up 300 pips. Seeing what's happening now, based on what we saw last week, you think we could see a huge push from them?
the truth is that we don't know what type of intervention makes the most sense for the SNB's own P&L. Maybe a series of small interventions like last friday is cheaper than throwing everything into one big one
we all take our chances ... personally i wouldn't short right here because i don't think that i can go down much more than 60 -70 pips. but i sure as hell can go up 200 - 300. i don't like that risk reward ratio.
of course i could be all wrong ... but that is what stop losses are for
Maybe a series of small interventions like last friday is cheaper than throwing everything into one big one
Ignored
That could be the route they take, however, I don't think that will accomplish as much as a huge push would. Keep in mind though, the Swiss have very, very deep pockets. They can afford to do whatever (they made a killing in gold in 2009), it's just what is in their best interest, especially with how to handle this situation when there is a lot of negative news out of EZ.
That could be the route they take, however, I don't think that will accomplish as much as a huge push would. Keep in mind though, the Swiss have very, very deep pockets. They can afford to do whatever (they made a killing in gold in 2009), it's just what is in their best interest, especially with how to handle this situation when there is a lot of negative news out of EZ.
Ignored
Well the SNB has unlimited amount of swiss francs they can use. If they wanted to, they could push this to 10 tomorrow. But at an expense of possibly being cutoff from trade, significantly reduced liquidity in their currency, having to tighten monetary policy and politics(they have complained about Chinese yuan).
So far we know that the SNB has spent over $40B on interventions. They have to keep their interventions within a reasonable level though. Too much, and they'll creep out people.
Number #1 in PnL and Pips on Dukascopy Trader Contest since 2011
Ok, so before you said you couldn't see them pushing it up 300 pips. Seeing what's happening now, based on what we saw last week, you think we could see a huge push from them?
Ignored
Considering that there seems to be really heavy selling pressure and that gruesome trade balance figure. Yes, chances for huge push up is much more. I wonder if institutional traders are keeping large sized sells on this, cause clearly retail traders are not.
Originally it seemed like the intervention last Friday was appropriate in maintaining stability in EUR/CHF. But now that's not the case. So yea, given the circumstancesof what's happened this week, I think a more aggressive intervention is definitely in the cards.
Number #1 in PnL and Pips on Dukascopy Trader Contest since 2011
I knew Asia would knock this down....darnit. Their the ones that drove it below 1.50 in december. Wonder if SNB is being woke up early from their sleep?
they don't care about a move during asia ... swiss businesses arent hurt by this move ... this move is purely technical and we will see if the SNB wants to correct it in a few hours
i got really lucky ... limit filled at 1.46 .... and my market order got filled right at 1.4562. i love these moves in asia ... they always correct so nicely after the spike. this is the 3rd substantial spike during asia in eurchf and they all corrected to the level from where they started. i believe that we will see at 1.467 before the weekend even without intervention
Joined Jul 2009
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Status: The Alchemist
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SNB intervention, try to buy when it comes down , that is safer, in the line of SNB intervention
there is a heavyweight fight between SNB and some sell orders located in higher level
