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EUR/CHF

  • #441
  • Apr 1, 2010 12:21pm Apr 1, 2010 12:21pm
Quoting ridingwaves2
What caused USD/CHF jumped 175 pips in 7 minutes today?
It’s very unusual.
http://www.reuters.com/article/idUSN...pe=usDollarRpt
  • #442
  • Apr 1, 2010 12:22pm Apr 1, 2010 12:22pm
Quoting ridingwaves2
What caused USD/CHF jumped 175 pips in 7 minutes today?
It’s very unusual.
Yea it was a messive move... Totally unexpected...
  • #443
  • Apr 1, 2010 12:22pm Apr 1, 2010 12:22pm
Quoting ridingwaves2
What caused USD/CHF jumped 175 pips in 7 minutes today?
It’s very unusual.

demand
  • #444
  • Apr 1, 2010 12:25pm Apr 1, 2010 12:25pm
Mr Hildebrant caused it
  • #445
  • Apr 1, 2010 12:30pm Apr 1, 2010 12:30pm
Quoting ziko123
demand
Yeh, everyday we have supply and demand but doesn’t look like this unless there’s a big news.
  • #446
  • Apr 1, 2010 12:32pm Apr 1, 2010 12:32pm
i saw 60~70 pips moves in a few minutes without news once in a while, but have never seen 175 pips move like this.
  • #447
  • Apr 1, 2010 12:39pm Apr 1, 2010 12:39pm
It 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.

Balaji

Quoting ridingwaves2
i saw 60~70 pips moves in a few minutes without news once in a while, but have never seen 175 pips move like this.
  • #448
  • Apr 1, 2010 1:21pm Apr 1, 2010 1:21pm
Quoting balajis
It 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.

Balaji
Looks like a good answer to me, thanks!
  • #449
  • Apr 1, 2010 1:29pm Apr 1, 2010 1:29pm
Quoting mikekneip
funny ... 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 ;-)
lucky guys. i got 1.4370 on sell. closed off +50. still have a tiny short i entered at this level aiming for 1.4210.
Number #1 in PnL and Pips on Dukascopy Trader Contest since 2011
  • #450
  • Apr 1, 2010 1:31pm Apr 1, 2010 1:31pm
I wonder how traders use this kind of intervention in trading. For example, do you short USD/CHF now following the intervention earlier today?
  • #451
  • Apr 1, 2010 1:34pm Apr 1, 2010 1:34pm
Quoting ridingwaves2
I wonder how traders use this kind of intervention in trading. For example, do you short USD/CHF now following the intervention earlier today?
Well, 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.
Number #1 in PnL and Pips on Dukascopy Trader Contest since 2011
  • #452
  • Apr 1, 2010 1:38pm Apr 1, 2010 1:38pm
Quoting siko
What would be the point if it will drop back right after the usual liquidity is restored?
Well an intervention under thin liquidity would scare the market much more in my opinion. But yea, the SNB would get worse fills on their euro bids. Traders would think twice about shorting euro/swiss knowing that the SNB may intervene in times of thin liquidity.

But yea, the interventions are more to slow appreciation of the swiss franc, not necessarily depreciate it.

Also, it sends a message to the business community in Switzerland that the SNB is trying to do something about CHF strength.
Number #1 in PnL and Pips on Dukascopy Trader Contest since 2011
  • #453
  • Apr 1, 2010 2:36pm Apr 1, 2010 2:36pm
Quoting rahulkghosh
Well, 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.
Thanks for the tips
  • #454
  • Apr 1, 2010 3:57pm Apr 1, 2010 3:57pm
just curious anyone here was short when the jump happened? would like to hear from a sellers point of view
  • #455
  • Apr 1, 2010 4:03pm Apr 1, 2010 4:03pm
ya... 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... haha
  • #456
  • Apr 1, 2010 4:08pm Apr 1, 2010 4:08pm
Quoting dual-c
ya... 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... haha
lol lucky guy hope u made a good amount i just thinking about the sellers who came to thier computer to see negative -300 pips .. that must be the worst feeling lmfao
  • #457
  • Apr 1, 2010 5:13pm Apr 1, 2010 5:13pm
Quoting DavidValera
lol lucky guy hope u made a good amount i just thinking about the sellers who came to thier computer to see negative -300 pips .. that must be the worst feeling lmfao
they probably had a sl....
  • #458
  • Apr 3, 2010 2:30pm Apr 3, 2010 2:30pm
I 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.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: (p-l)eurchf monthly.gif Size: 36 KB
Click to Enlarge Name: eurchf 2010-04-02(4-h).gif Size: 32 KB
  • #459
  • Apr 4, 2010 12:39am Apr 4, 2010 12:39am
Quoting ridingwaves2
I 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.
The coming week is going to be really interesting. Looking back over last week's PA. I'm amazed that New York traders didn't put more pressure on euro/swiss after the intervention. We may have reached a bottom on this pair. And definitely the PA is going to be very jittery if/when it gets down to the <1.4200 region. However, retail traders are still heavily net long on the pair. I'm 90% sure we'll see a retest of 1.4200, then see how it goes from there. The last intervention was very aggressive and shows the SNB really means business. I'd say it's the most aggressive intervention since last June.
Number #1 in PnL and Pips on Dukascopy Trader Contest since 2011
  • #460
  • Apr 7, 2010 11:26am Apr 7, 2010 11:26am
Do we see another (mini)intervention? eurchf just shot up 35 pips
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