USD/CHF

can i ask where you got this info from please

bloomberg

--Swiss government expects marked economic slowdown
--Swiss government confirms current policy
--Swiss government wants importers to pass on currency gains
--Swiss government says CHF is considerably overvalued
(Updates with background on the idea of pegging the Swiss franc to the euro, beginning in the fourth paragraph, and details on the Swiss economy in the last three paragraphs.)
By Anita Greil and John Revill Of DOW JONES NEWSWIRES ZURICH (Dow Jones)--The Swiss government confirmed its current Swiss franc policy Monday, even as it said it expects a marked slowdown in economic growth in coming quarters as the country deals with the soaring value of its currency.
The government's measures aim to support economic growth in the mid- to long-term. But it said it is evaluating further measures.
"Such measures must be taken at the right moment, and they must have a positive impact in the mid- to medium term, not just in the short term," the government said in a statement.
The comments seem to imply that the government isn't considering pegging the Swiss franc to the euro.
Economics minister Johann Schneider-Ammann said last week that a peg isn't an option. Central bank officials frequently have pointed out that a peg would result in higher interest rates, and deprive the country of conducting its own independent monetary policy.
Putting pressure on importers to pass on currency gains to consumers is high on the government's agenda.
The government said it welcomed the monetary policy steps undertaken by the Swiss National Bank last week, which cut interest rates to near zero from 0.25%.
The government met with the central bank Monday to discuss the impact of the soaring franc on the economy.
"The government shares the opinion of the SNB that the Swiss franc is considerably overvalued," it said in a statement.
The government's statement came after the franc continued its surge against the dollar and the euro and the Swiss stock market headed deep into negative territory.
The currency gained 2.4% against the euro and 1.84% against the dollar Monday as investors stampeded to its safe-haven status amid heightened fears over the future of the euro and the Standard & Poor's downgrade of American debt.
Swiss companies have been seen their profits cut back by the soaring value of the currency.
Small and midsize manufacturers were the first to say the government and central bank should take measures to counter the currency's strength. Yet the government made it clear that there is little it can do to counter the franc's safe-haven appeal in times of crisis, while the central bank already failed when it tried to stem the franc's rise in 2009 and early last year.
The government said it considers the economic situation in Switzerland as "better than in neighboring states," adding it will monitor further developments closely.
-By John Revill and Anita Greil, Dow Jones Newswires; +41 43 443 8042; [email protected]
(END) Dow Jones Newswires
August 08, 2011 13:54 ET (17:54 GMT)

I expect very good support 0.7480 - 0.7500, which should hold for some time + i expect retracement to levels around 0.7720 -> 0.7950 .. i think that 0.8000 will not be broken on retracement, but its quit dangers to plan now some bigger retracement, because can come some big bad news and everything will be in another way. Be carefull!!

I bought at 0.8520 -> SL 0.8487 was hitted, but without big fall, so i bought second position at 0.8485 with SL 0.8470 . .i hope it will keep alive for bigger retracement.

Swiss bank can't stop this they'd be better off standing back until the momentum drops then force the shorts to cover

I do not understand your last statement, "you hope it will keep alive for bigger retracement" if your talking about the USDCHF maybe you have your numbers wrong because your second position would of been stopped out ages ago but sure there will be a correction at some point.

pip

bought more CHF...yay keep dropping...all these discounted rates...gonna make my wallett fat!

Thanks, frothy! Just waiting for some stabilization on daily ...higher highs & higher lows ... and I'm in long. The talk of an intervention is imminent. Will it be similar profits like USDJPY intervention? Let's wait & see...

Hmmm risky by the sounds of it? GBPCHF still looks rather bearish... i wouldnt know where a good long entry would be, no S/R to go off... we have exceeded recent fib targets... any suggestions?!

Agree Jazznos.... a strong support is required here to turn to the longs. However, it's still way too cheap and the intervention is just around the corner it seems. So... just go for it!

Where are you hearing the intervention rumours from?

http://www.ratesfx.com/news/news-chf.html

Market talk, every now and then it pops up in on one of the Dow Jones newswires too.

You get around dontcha!! Ok... well ive taken a long just for the lulz, seems slightly mad but we'll give it a shot... SL is 2203, on GBPCHF, dunnow if that may be a touch tight but...

Hmm yes very much too tight... could see 2130 or at least s1 before any turnaround... everything is dropping it seems...

I do, I'm trying little longs too on this pair too in anticipation of SNB rally but keep getting stopped out.

I think SNB has got enough from their currency strenght, though, safe flows these days must be overwhelming to intervene?

I've short many CHF crosses but now I have a bad feeling, this fall can not last forever......

Plus, government and SNB president had extraordinary session today AUG 08

Not trading those pairs before a decent pullback or intervention, all of them are now on extremely oversold condition.

NOW the fucker goes up! Just had to take my stop out first though of course didnt it... Sick of this shit!

You should see it now.



Lowering exit to 0.7609.

Swiss intervention=Fart in a whirlwind.

Any one going long?


LOL

pip