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EUR/CHF

  • #1,181
  • Sep 6, 2011 3:55am Sep 6, 2011 3:55am
C'mon Guys!!!
Is anybody really surprised?
We've been talking and talking about it for weeks here on this thread...
There was hundreds of news about possible SNB intervention on FF...
There were even rumors about stiff correlation CHF to EUR, negative effect of dear franc on Swiss economy etc…

There worst is it has affected all other currencies...

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  • #1,182
  • Sep 6, 2011 3:58am Sep 6, 2011 3:58am
How does this work? SNB print whatever they need to sell Franc? But they have to buy back no???
  • #1,183
  • Sep 6, 2011 4:00am Sep 6, 2011 4:00am
Just keep buying at 1.20 (SNB says they will defend 1.20 at all cost since money clearly grows on trees now) let's see if the SNB can come to our rescue (like taking candy from a baby, I smell millions thank you SNB for making this possible)...LOL!
  • #1,184
  • Sep 6, 2011 4:10am Sep 6, 2011 4:10am
the EUR/CHF is pegged at 1.20 won't be a good pair to trade. btw, do some traders still believe CHF to be safe heaven ? for me, not at all since it reached 0.70
  • #1,185
  • Sep 6, 2011 4:12am Sep 6, 2011 4:12am
The current massive overvaluation of the Swiss franc poses an acute threat to the Swiss economy and carries the risk of a deflationary development.
The Swiss National Bank (SNB) is therefore aiming for a substantial and sustained weakening of the Swiss franc. With immediate effect, it will no longer tolerate a EUR/CHF exchange rate below the minimum rate of CHF 1.20. The SNB will enforce this minimum rate with the utmost determination and is prepared to buy foreign currency in unlimited quantities.
Even at a rate of CHF 1.20 per euro, the Swiss franc is still high and should continue to weaken over time. If the economic outlook and deflationary risks so require, the SNB will take further measures.
  • #1,186
  • Sep 6, 2011 4:16am Sep 6, 2011 4:16am
Quoting hamad00
the EUR/CHF is pegged at 1.20 won't be a good pair to trade. btw, do some traders still believe CHF to be safe heaven ? for me, not at all since it reached 0.70
I wouldn't discount the EUR/CHF for trading just yet, the next few days will be very informative as to what's to come, but as a safe heaven it's done for now. But buying at 1.20 seems like the only proper direction for this currency, for the immediate time being anyways...
  • #1,187
  • Sep 6, 2011 4:17am Sep 6, 2011 4:17am
Quoting Aad
Just keep buying at 1.20 (SNB says they will defend 1.20 at all cost since money clearly grows on trees now) let's see if the SNB can come to our rescue (like taking candy from a baby, I smell millions thank you SNB for making this possible)...LOL!
I'll buy this pair big time as long as 1.17 won't be breached - let's c...
  • #1,188
  • Sep 6, 2011 4:25am Sep 6, 2011 4:25am
Quoting 853efx
I'll buy this pair big time as long as 1.17 won't be breached - let's c...
I'm sure we won't be the only folks buying, the big boys will come to play soon enough just keep a decent SL in accordance with your strategy just in case. I have no problems currently testing 50/100 pip SL to buy this puppy, I smell iceberg buy orders, ready set go...LOL!
  • #1,189
  • Sep 6, 2011 4:31am Sep 6, 2011 4:31am
Guys, I've got an idea for SNB
I think Switzerland should take over Greece and become one country

I can see nothing else but only advantages:
1. Swiss will throw billions of CHF into Greek economy and never see it coming back, then nobody will want to buy their Franc
2. Greeks will be happy to see someone else pays their debts
3. Greeks will learn to ski, as they will have their own place to do it in winter
4. We all could trade safely using technical analysis instead of gambling

Why Andrea Merkel didn't come up with this idea !!!

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  • #1,190
  • Sep 6, 2011 6:50am Sep 6, 2011 6:50am
Was debating a long before I went to bed after the already 120 pip move so I threw one in on my demo just for fun and woke up to +862!!! WTF is wrong with me! haha. Coulda, shoulda, woulda traded the real account on that one
  • #1,191
  • Sep 6, 2011 6:57am Sep 6, 2011 6:57am
Long Term Buy @ 1.2037--stops 1.1988-no limit
Quoting GumballCGT
Was debating a long before I went to bed after the already 120 pip move so I threw one in on my demo just for fun and woke up to +862!!! WTF is wrong with me! haha. Coulda, shoulda, woulda traded the real account on that one
  • #1,192
  • Sep 6, 2011 7:27am Sep 6, 2011 7:27am
Hate to show u this pic then
Attached Image (click to enlarge)
Click to Enlarge Name: eurchf20110906.jpg Size: 96 KB
  • #1,193
  • Sep 6, 2011 8:10am Sep 6, 2011 8:10am
All other chf pairs moved up after the big spykes.But this blo**y Eur/Chf s**t isnt moving up damn.wasted my time and money trading this pair.
Any one got struck in this same like me expecting a big move?
Believe in your thesis and stick to the plan, don't get scared with moves
  • #1,194
  • Sep 6, 2011 8:14am Sep 6, 2011 8:14am
Quoting akash14
All other chf pairs moved up after the big spykes.But this blo**y Eur/Chf s**t isnt moving up damn.wasted my time and money trading this pair.
Any one got struck in this same like me expecting a big move?
2am eastern to 4am was the initial move buddy....
  • #1,195
  • Sep 6, 2011 8:20am Sep 6, 2011 8:20am
Quoting theIEguy9_09
2am eastern to 4am was the initial move buddy....
as SNB announced news i thought Eurchf would settle somewhere around 1.21 but this f sh** is not at all moving up.its acting according to EU and trying to move down lol.may be someone should put big money and make it move up.
Believe in your thesis and stick to the plan, don't get scared with moves
  • #1,196
  • Sep 6, 2011 8:23am Sep 6, 2011 8:23am
@akash
Should expect retest of 1.2 zone & resolution of SNB(latter in coming days)

So Guys,
who banked more than 1000 pips in this move? Anyone?
100 Fold Challenge->Interested? ->https://www.forexfactory.com/thread/32152
  • #1,197
  • Sep 6, 2011 8:23am Sep 6, 2011 8:23am
Quoting akash14
as SNB announced news i thought Eurchf would settle somewhere around 1.21 but this f sh** is not at all moving up.its acting according to EU and trying to move down lol.may be someone should put big money and make it move up.
eurchf is in supply zone....
  • #1,198
  • Sep 6, 2011 8:28am Sep 6, 2011 8:28am
Quoting akash14
All other chf pairs moved up after the big spykes.But this blo**y Eur/Chf s**t isnt moving up damn.wasted my time and money trading this pair.
Any one got struck in this same like me expecting a big move?
I'd rather expect now some retracement then further upward movement.
It was kind of shock to EURCHF. The market is volatile.
Let it calm down. Let it find some support and resistance and catch a breath.
As for now trading EURCHF is like gambling as anything can happen.

SNB statement doesn’t mean that they will “click and buy” on every little spike under 1.2000 level.
The price can fluctuate a little bit above or under this line and they will intervene when some substantial movements occur.

So don’t be lured that you will set up your orders on 1.2000 and it will automatically jump up and make you loads of money…
Ha ha... no way, guys ;-)))
We still have to work hard on it

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  • #1,199
  • Sep 6, 2011 8:36am Sep 6, 2011 8:36am
Watch out 1.2345 as a nice target area



( 12345 cool )
  • #1,200
  • Sep 6, 2011 8:54am Sep 6, 2011 8:54am
Quoting forexsaint
@akash
Should expect retest of 1.2 zone & resolution of SNB(latter in coming days)

So Guys,
who banked more than 1000 pips in this move? Anyone?

Almost. 979 pips on one trade and 938 on another. This was an awsome morning.
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