Joined Mar 2008
Status: Name real with real own way
Hi all, hope traded well this pair. me never traded before & just checking how it works . It seems a beast & very hard to tame it at the first glance with full of spikes here & there . Any factors behind those spikes ? may others know .
By Justin Carrigan
Jan. 6 (Bloomberg) -- The franc’s advance to less than 1.50
per euro shows the Swiss National Bank’s resistance to the
currency’s gains has shifted rather than disappeared, according
to Commerzbank AG.
The franc appreciated to 1.4809 per euro on Jan. 4, its
strongest level in nine months. It was at 1.4846 as of 8:09 a.m.
in London today.
“The only thing that has changed is that the SNB’s pain
threshold has been moved downwards with the lower level now
located in the area around 1.45-1.46,” a Comerzbank team
including Lutz Karpowitz in Frankfurt wrote in a report today.
“Moreover the speed of a possible appreciation of the
franc now plays a more important role,” the analysts wrote.
“Should the franc appreciate rapidly, with euro-franc quickly
falling below the 1.48 mark, the SNB is likely to take action