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EURUSD

  • #534,941
  • Sep 6, 2011 4:01am Sep 6, 2011 4:01am
Quoting penetration
My expectation for Eur/usd
Tomorrow is Bullish ( not 100 %)
Weekly is Bullish (not 100 %)

let see tomorrow:

good luck for every body
Already my positions closed at 1.4170

i just reached to my goal.

even thuogh i miss the direction of asian market
  • #534,942
  • Sep 6, 2011 4:02am Sep 6, 2011 4:02am
Quoting ProreX
Any link available to that article?
http://www.snb.ch/en/mmr/reference/p...0110906.en.pdf
We live in a finite world with infinite possibilities.
FxTyrant M-Series (Live - Darwinex) All Time Return: 0.7%
  • #534,943
  • Sep 6, 2011 4:02am Sep 6, 2011 4:02am
Last trade is short at 1.4182, hope for a serious drop, charts are showing the possibility. If not, I have a 30 pip sl in place. Good luck !
  • #534,944
  • Sep 6, 2011 4:02am Sep 6, 2011 4:02am
please could someone tell me what just happened in the forex market? Ws there some announcement? I haven't seen this sort of price spike outside NFP! And for the record, I am sorry for anyone trading seriously with the likes of FXpro. They shut us out as soon as pricing started the spike. Only cos I also trade thru alpari ..whom I consider dodgy too...did I see what happened!
  • #534,945
  • Sep 6, 2011 4:03am Sep 6, 2011 4:03am
i think eurusd and usdchf will retrace... i closed my longs i will open them later
When life gives you lemons, make lemonade
  • #534,946
  • Sep 6, 2011 4:06am Sep 6, 2011 4:06am
Quoting lechidi
please could someone tell me what just happened in the forex market? Ws there some announcement? I haven't seen this sort of price spike outside NFP! And for the record, I am sorry for anyone trading seriously with the likes of FXpro. They shut us out as soon as pricing started the spike. Only cos I also trade thru alpari ..whom I consider dodgy too...did I see what happened!
SNB dumping CHF to buy Other currencies in unlimited quantities...
http://www.snb.ch/en/mmr/reference/p...0110906.en.pdf
We live in a finite world with infinite possibilities.
FxTyrant M-Series (Live - Darwinex) All Time Return: 0.7%
  • #534,947
  • Sep 6, 2011 4:06am Sep 6, 2011 4:06am
Quoting bguguen
for people who think EURCHF is worth shorting now...
watch out for your ass being burnt...

this is the official statement...

"Swiss National Bank sets minimum exchange rate at CHF 1.20 per euro
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...
This is forex, never trust what you read. I'm sure there are plenty out there who think the SNB is bluffing and can't/won't hold the line.
  • #534,948
  • Sep 6, 2011 4:08am Sep 6, 2011 4:08am
As i warned before... the Decision made by SNB to peg with EURCHF at 1.2 is not their own decision...
i was right...
http://www.forexlive.com/blog/2011/0...n-eurchf-rate/

Please do not think the EURCHF will attack 1.2 areas as technical say it should... today is pure fundie on EURCHF shorting @ 1.2 is suicidal...
Dont think the market will want a retrace when Markets ARE the big boys... and i knew is that SNB aint alone on this other wise a retrace would happen but no... SNB and ECB are on board of this move... god knows what other banks chipped in to work this peg out...
We live in a finite world with infinite possibilities.
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  • #534,949
  • Sep 6, 2011 4:09am Sep 6, 2011 4:09am
Quoting FishHead
This is forex, never trust what you read. I'm sure there are plenty out there who think the SNB is bluffing and can't/won't hold the line.
they're gona get burnt if they expect to win TODAY shorting 1.2 because of SNB bluff...
ECB is on board this move...
http://www.forexlive.com/blog/2011/0...n-eurchf-rate/
We live in a finite world with infinite possibilities.
FxTyrant M-Series (Live - Darwinex) All Time Return: 0.7%
  • #534,950
  • Sep 6, 2011 4:11am Sep 6, 2011 4:11am
Quoting lechidi
please could someone tell me what just happened in the forex market? Ws there some announcement? I haven't seen this sort of price spike outside NFP! And for the record, I am sorry for anyone trading seriously with the likes of FXpro. They shut us out as soon as pricing started the spike. Only cos I also trade thru alpari ..whom I consider dodgy too...did I see what happened!
Yes this is the biggest one day movement in the swiss franc ever. Basically the SNB have come out and said they will put the franc under pressure and peg the EURCHF at 1.20 (And have said they will defend the level with unlimited currency purchases). This caused huge repercussions on FX and gold markets, and has caused swiss stocks to rally. Pegging the currency is because the strong franc was hurting swiss exporters - the SNB couldn't justify letting swiss business suffer because of global weakness. The franc may strengthen only if the SNB cannot defend the level strong enough, huge pressure could be put on the franc if there is increasing pressure in the eurozone.

However, we now have to look at where save haven flows will move...Some say the dollar, but with the possibility of QE3 this is a risky bet. Money will flow into both German Bunds and, as I expect, UK Gilts.

US treasuries will fair well but not quite as well proportionally IMHO.

We now need to keep an eye on the ECB cutting rates (as N.Roubini reccomended)

BUT >>> WHEN IN DOUBT SIT IT OUT.
  • #534,951
  • Sep 6, 2011 4:12am Sep 6, 2011 4:12am
Quoting frogger
true bro might get out soon if close below 71
How do you think so but may possible as shaking out thing ON . limit down 4109 to play top & possibly further top & almost impossible to opposite , failure at top only. Not 4287 ,4315 is great level of the failure if or all reverse possible . lets see
fontu
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Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #534,952
  • Sep 6, 2011 4:12am Sep 6, 2011 4:12am
Quoting MiG123
roger on the yen... SNB intervention usually gives Yoda the 'balls' to act. Remember the previous yen intervention was 2 days after SNB intervention.

UJ is more or less starting to price that in, it's maintaining above 77.00 even as other non chf USD crosses quickly retracing their spikes...
Yes last 3 attempts have all failed, will be interesting what tool he use, wont be chf geppy 132 this spike, he just got 8 hrs respite much yen news tomorrow, imagine if he unleash tonight US session, should be signs pricing in tonight anyway, 1 intervention a day is enought, 2nd one might implode market,
Dust is settlling, back to work

Be on the right side bro.
If you are new to Forex? Say Goodbye to your account!!
  • #534,953
  • Sep 6, 2011 4:13am Sep 6, 2011 4:13am
Quoting bguguen
By the way when you say Market.... big banks are the Market... and SNB is one of them... dont be surprised when i tell you SNB works with other banks to push for the peg on EURCHF at 1.2... that'll leave retail traders like us in a pickle dick if you try shorting it thinking its on SNB working alone....
http://www.forexlive.com/blog/2011/0...n-eurchf-rate/


i would like to say the Swiss has enough to discourage any shorting EURCHF below 1.1...
1.2 may be broken but swiss will intervene again...
No CB in history has ever beaten the market and SNB will not be first. Period.



Seb
  • #534,954
  • Sep 6, 2011 4:13am Sep 6, 2011 4:13am
Quoting bguguen
they're gona get burnt if they expect to win TODAY shorting 1.2 because of SNB bluff...
ECB is on board this move...
http://www.forexlive.com/blog/2011/0...n-eurchf-rate/
Yeah, I know it's highly unlikely. But you know how the market likes to move in the direction that hurts the most. The SNB and ECB aren't the only big boys on the block and the market is a vicious place. Maybe China feels like fucking with them for shits and giggles.
  • #534,955
  • Sep 6, 2011 4:16am Sep 6, 2011 4:16am
Quoting Flynchenberg
No CB in history has ever beaten the market and SNB will not be first. Period.



Seb
Check out Soros here


But i guess its true, although it would need a catalyst such as a nuclear move in the EUR (Much like Soros had the i/r differentials on his side)
  • #534,956
  • Sep 6, 2011 4:16am Sep 6, 2011 4:16am
Quoting FishHead
Yeah, I know it's highly unlikely. But you know how the market likes to move in the direction that hurts the most. The SNB and ECB aren't the only big boys on the block and the market is a vicious place. Maybe China feels like fucking with them for shits and giggles.
yea well doesnt look like China is in to that stuff... they are already in alot of trouble on their side... did you know Hong Kong, Taiwan and China PMI has fallen drastically in August... Suggesting Manufactured Goods in Asia is in contraction... means people are buying less.. means less money available... i think China is better or wiser spending money to fix this than to dump money betting agains the ECB and SNB today for shits and giggles when they got more serious stuff to watch out...
We live in a finite world with infinite possibilities.
FxTyrant M-Series (Live - Darwinex) All Time Return: 0.7%
  • #534,957
  • Sep 6, 2011 4:18am Sep 6, 2011 4:18am
Quoting Flynchenberg
No CB in history has ever beaten the market and SNB will not be first. Period.



Seb
Ya i agree with you no CB (singular) has ever beaten the market... but the Market is CREATED by CBs (MULTIPLE).. and if SNB and ECB works together and god knows maybe BIS and other institute work together you can see EURCHF holding that 1.2 for sure.... depends how many banks are on board...
so far i see >5 Central Banks on this peg.... not only SNB and ECB... if only i knew who were the other banks... but thats inside info....
We live in a finite world with infinite possibilities.
FxTyrant M-Series (Live - Darwinex) All Time Return: 0.7%
  • #534,958
  • Sep 6, 2011 4:18am Sep 6, 2011 4:18am
Quoting Walker93
Check out Soros here


But i guess its true, although it would need a catalyst such as a nuclear move in the EUR (Much like Soros had the i/r differentials on his side)
This 1.2 PEG is out of desperation BTW......

Seb
  • #534,959
  • Sep 6, 2011 4:21am Sep 6, 2011 4:21am
Quoting KiwiTrada
Yes last 3 attempts have all failed, will be interesting what tool he use, wont be chf geppy 132 this spike, he just got 8 hrs respite much yen news tomorrow, imagine if he unleash tonight US session, should be signs pricing in tonight anyway, 1 intervention a day is enought, 2nd one might implode market,
Dust is settlling, back to work

Be on the right side bro.
I am waiting for it to settle...
but so far I think sideline is better for me...
intervention ruin my chart
Patience, Emotion Control and Discipline.
  • #534,960
  • Sep 6, 2011 4:21am Sep 6, 2011 4:21am
Quoting Flynchenberg
This 1.2 PEG is out of desperation BTW......

Seb
which is why this desperation may end up in MORE easing... by the SNB... watch out... the Swissy is OVERVALUED and easing is not a stupid idea...
the US on the other hand is Depreciating in Value and they are still looking for more Easing... now thats retarded... but who knows... maybe one day the Dollar would reaching a point where people think its worth buying and refuel the US economy to production but im guessing its not gona happen...
Jobs are all moving away from US to other expanding countries like the BRICs..
We live in a finite world with infinite possibilities.
FxTyrant M-Series (Live - Darwinex) All Time Return: 0.7%
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