DislikedWhat caused USD/CHF jumped 175 pips in 7 minutes today?
Itís very unusual.Ignored
GBP/CHF and USD/CHF 951 replies
EUR/CHF, USD/CHF turning up? 1 reply
Dislikedi saw 60~70 pips moves in a few minutes without news once in a while, but have never seen 175 pips move like this.Ignored
DislikedIt is due to SNB intervention in EURCHF which took it from 1.4144 to 1.4410 and in the bargain USDCHF also jumped with EURUSD also jumping as the swiss franc was sold hard by their bank to curtail its strength. Nothing of supply and demand.
Dislikedfunny ... got filled at 4409 as well ... but closed at 1.435 .... time to head into the well deserved weekend. plus position was big enough to give me a handsome profit ;-)Ignored
DislikedI wonder how traders use this kind of intervention in trading. For example, do you short USD/CHF now following the intervention earlier today?Ignored
DislikedWhat would be the point if it will drop back right after the usual liquidity is restored?Ignored
DislikedWell, as has been the case for all the interventions since summer, most of it is quickly retraced on EURCHF within the coming days. I'm short expecting 1.4210. Yes, the downward trend in EURCHF will stop, but the SNB won't stop it. I shorted on the spike up when I noticed massive bids weren't coming through anymore, for a quick 50 pips. Don't play the interventions through dollar/swiss unless you really know what you're doing.Ignored
Dislikedya... I had a sell limit order set at 1.4400 on eur/chf... had it there far a long time. My broker got me in at the very top at 4409, and i took profit at 4318. talk about gettin lucky.... bout dam time after so many unlucky breaks in the market... hahaIgnored
DislikedI just did a basic TA on EUR/CHF chart. The longer-term (Monthly) chart seems to have touched a channel bottom. It may move back up from here.
If the TA is correct on this monthly chart, The hourly chart may form a double bottom or an inverted H&S or simply move back up from the current price level.
But I could be wrong.Ignored