EUR/CHF

anybody thinking of going long from 1.4 area if it gets there? i got a buy order at 1.4006, with a stop at 1.3989, tp1 1.43, tp2 1.45
very good r:r, worked very nicely last time

not so good this time, barely had time for entry to kick in before stopped out. ah well, very small loss. onto the next one
may consider re entering long if hourly closes above 1.4
probly best to stay away though, till after nfp

LONDON (Dow Jones) - The Swiss National Bank is likely to face a fresh fight soon, as the currency markets gear up for another attempt to push the franc higher.

In stark contrast to the euro zone, the outlook for the Swiss economy continues to show marked improvements, as evidenced by stronger-than-expected gross domestic product data released Tuesday. The data showed the Swiss economy expanded 2.2% in the first quarter compared with a year earlier.

Set against the bleaker euro-zone outlook, further appreciation pressure on the franc against the euro looks almost inevitable, particularly as the euro is so vulnerable to another bout of weakness from already-depressed levels. That leaves the central bank once again with little choice but to intervene more heavily to stem the franc's strength, despite the clear clash in this policy with the growing need for higher interest rates, analysts say.

"While the outlook for Europe remains uncertain we expect the SNB to continue with its intervention policy for the time being. With the Swiss export sector heavily exposed to the euro zone, a too rapid appreciation of the Swiss franc will not be desirable at this stage , "said analysts at BNP Paribas.

However, that policy sits awkwardly with the prospect of currency-boosting interest-rate rises. "Hiking rates directly conflicts with a currency weakening intervention operation, and central banks who have attempted this in the past have suffered a loss of credibility," the BNP Paribas analysts added.

The SNB has reminded the market frequently that it will resist a sharp move higher in the currency, and traders say that it has been buying euros regularly of late to try and slow the pace of the franc's ascent, though the central bank itself never confirms or denies its involvement. Still, signs of persistent euro-buying are clear, with the central bank's foreign-currency reserves at new heights, totalling $ 145 billion in April.

These efforts may have succeeded in slowing the euro's decline against the franc, particularly when judged against the 16-country currency's dive to a four-year low against the dollar earlier this week.

Yet the franc remains close to its highest point against the euro on record, with its role as a perceived safe haven acting as a magnet to investors in times of volatility and uncertainty. Analysts think this pressure will eventually force the SNB to accept greater currency strength.

"The SNB is likely to ease off on foreign-exchange interventions eventually, despite its professed aversion against Swiss franc appreciation," said Michael Hart, a currency strategist at Citigroup in London.

"In a risk averse environment, Switzerland's current account surplus of 8% of GDP, its small fiscal surplus and public debt of less than 50% of GDP boost safe-haven demand for the currency," said Citigroup's Hart.

At 1348 GMT Thursday, the euro was trading at CHF1.4144 against the franc, roughly equal to its levels late in New York Wednesday, according to trading system EBS.

-By Clare Connaghan, Dow Jones Newswires; +44 (0) 20 7842 9496;

clare.connaghan @ dowjones.com

thanks for that.
I am not far from getting in with a long, probably 1.387 is a good entry. I might see how the europe sharemarket open first

Buy EURCHF
Entry: 1.3915 Target: 1.3965 Stop: 1.3890

Probing the long side with a LOW-LEVERAGE trade. Low conviction.

SWISS FOREIGN CURRENCY RESERVES RISE TO 232.4 BLN SFR IN MAY VS 153.6 BLN IN APRIL - STATS OFFICE WEBSITE. This is a huge leap over the space of a month and will continue to fuel expectations of how long the SNB will keep intervening. We know that in theory that it could do so indefinitely but we also know that the SNB has wavered a couple of times, allowing CHF to rise quickly and suddenly. It is still very consensus that EUR-CHF goes down. I think it is one of the most consensus trades out there

Just opened a small position LONG on this one 5 minutes ago. Expect it to rebound util 1.3850. 50 pips profit. SL @ 1.3780. Let's see.

Intervention ???

fear before intervention ;-)

Hope so! After my stop loss I just opened new longs @1.3768...

I was so lucky that i longed usd/chf @ 1.1520...after about 5 minutes...it shot to the roof with my target hits...

This was a post in April. I wonder if most of the retail traders still go long on this pair and how the market sentiment is these days.

Enter Short again at 1.3993 just now with target around 1.3500 in a longer run this year.

another intervention of the Swiss bank just below 1.40 to bring it up to 1.4040?
wouldn't have never expected intervention after the euro gained 200 pips.
I have exit m position long before reaching 1.40. i think it is a no trade pair for the moment

Wan't SNB intervention. Just an aim for stops. We're at very good levels to short in my opinion. I'm scalping on the short side for 20+ pips on spikes.

SNB has propped the EURCHF with more then 75 Billions (till now), an extremely controversial action to hear in the economical discussion.
So 1.40 might not be hold longer.

Go out at 1.3885 and wait. May be there are a next good chance near 1.3990 to go short once more.

Profit +108 pips

http://askafo.com/apic/2162010ec-465g4h6f4ghfgh.PNG

Daily Uptrend

EURCHF holding onto the Pitchfork supports - 60min chart.

I expect the price level 1.35