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EUR/CHF

  • #1,861
  • Dec 15, 2011 7:18am Dec 15, 2011 7:18am
i am wondering what is best SL to setup? If u are from 1.235 in buy would u hold it yes or no?
  • #1,862
  • Dec 15, 2011 8:26am Dec 15, 2011 8:26am
Quoting freeForexMan
i am wondering what is best SL to setup? If u are from 1.235 in buy would u hold it yes or no?

If i have the means to hold, I'll hold....just hope SNB to intervene to get out at BE or higher, just my 2 cents.
  • #1,863
  • Dec 15, 2011 9:53am Dec 15, 2011 9:53am
Looks like the biggest daily drop since September 1. Though I am still long on EUR/CHF. The price is still inside the ascending triangle on the daily chart:
Attached Image (click to enlarge)
Click to Enlarge Name: eruchf.png Size: 5 KB
  • #1,864
  • Dec 15, 2011 9:58am Dec 15, 2011 9:58am
Quoting enivid
Looks like the biggest daily drop since September 1. Though I am still long on EUR/CHF. The price is still inside the ascending triangle on the daily chart:

I'll long at 1.22 and below if it ever get there...
  • #1,865
  • Dec 15, 2011 10:34am Dec 15, 2011 10:34am
Quoting multi888
I'll long at 1.22 and below if it ever get there...
What do u think it can reach by the end of Friday (in Long Position) ... b4 the market closes for the weekend..
  • #1,866
  • Dec 15, 2011 9:59pm Dec 15, 2011 9:59pm
By: Sean Lee

Unsubstantiated talk that the SNB was on the bid near 1.2220 in order to slow the fall last night, after the already-long market was left disappointed by the failure to lower the CHF cap. Regardless of whether the SNB is bidding near here or not, they left us in no doubt that they will do whatever is necessary to defend 1.2000 if/when we get there again.
  • #1,867
  • Dec 15, 2011 10:00pm Dec 15, 2011 10:00pm
Quoting farhaj
What do u think it can reach by the end of Friday (in Long Position) ... b4 the market closes for the weekend..
Maybe still hovering around the 1.22 region? Since there are rumor of SNB supporting it.
  • #1,868
  • Dec 15, 2011 10:44pm Dec 15, 2011 10:44pm
Quoting multi888
Maybe still hovering around the 1.22 region? Since there are rumor of SNB supporting it.
Actually I amlong at 1.2271.. so wondering would I be able to take TP at 1 pip also or not..

and did not get about the SNB bet at 1.2200.. does it mean that its gonna fall more down..
  • #1,869
  • Dec 15, 2011 10:51pm Dec 15, 2011 10:51pm
Quoting farhaj
Actually I amlong at 1.2271.. so wondering would I be able to take TP at 1 pip also or not..

and did not get about the SNB bet at 1.2200.. does it mean that its gonna fall more down..
Why didn't you TP when it was up at 1.238? Weather it gonna go down more or not, I'm not sure but this pair is famous for its fall. If you can, just cut your losses at any retracement and make back your losses in other pairs. Just my personal opinion, make your own judgement yourself.
  • #1,870
  • Dec 16, 2011 6:13am Dec 16, 2011 6:13am
1.2226 is the pivot point.
Above you can still be long.
Below, I would close my positions.
  • #1,871
  • Dec 16, 2011 6:27am Dec 16, 2011 6:27am
My stop-loss is at 1.2150
  • #1,872
  • Dec 16, 2011 6:29am Dec 16, 2011 6:29am
Anyone tried to trade with EUR / CHF correlation with other currency ?
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  • #1,873
  • Dec 16, 2011 10:00am Dec 16, 2011 10:00am
It seems market is disappointed and got tired of waiting like me from SNB and decided to force them for entering into the market or at least another rumor.
It's strange for me that we haven't seen any retracement after that fall.
  • #1,874
  • Dec 16, 2011 10:05am Dec 16, 2011 10:05am
I think there must be something wrong with SNB policy about intervention. They could do it last thursday with setting new cap on 1.25 with minimum expenses, market alone would send it to 1.30 and another rumour higher. I dont believe now, they are able to defend 1.20 in long term, we going now back to parity. I was hoping in christmas SNB gift but market reality is different.
  • #1,875
  • Dec 16, 2011 10:29am Dec 16, 2011 10:29am
I believe 1.20 is well protected by SNB...any intervention have to be done in discreet and sudden without the market expecting it. If it is make known, all of us will be very rich. My long will be somewhere at mid 1.21 downwards.
  • #1,876
  • Dec 16, 2011 11:00am Dec 16, 2011 11:00am
I think they have understood that their strategy was wrong. OK, they don't want to intervene because of any reason but they had to give some hope for possible intervention in near future to the market to keep the price at that level not like now. But market didn't forgive them and decided to punish and revenge the SNB for all the time wasted to see new action!!!
  • #1,877
  • Dec 16, 2011 11:21am Dec 16, 2011 11:21am
Hit it now, high before 10pm and have a nice rewarding weekend. lol.
  • #1,878
  • Dec 16, 2011 11:35am Dec 16, 2011 11:35am
Quoting tonynulty
Hit it now, high before 10pm and have a nice rewarding weekend. lol.
Will be any news or new rumor?
  • #1,879
  • Dec 16, 2011 7:08pm Dec 16, 2011 7:08pm
Quoting Blue.Trader
I think they have understood that their strategy was wrong. OK, they don't want to intervene because of any reason but they had to give some hope for possible intervention in near future to the market to keep the price at that level not like now. But market didn't forgive them and decided to punish and revenge the SNB for all the time wasted to see new action!!!
I think P. Hildebrand's coin landed on the wrong side when they announced their decisions.
It's the Swiss way slow but eventually they will act on it however, I believe they have missed out on a good opportunity to step up the game as markets are very thin.
It looks like the may have to defend the floor next year with the speculators back on board early 2012.
For the sake of the exporters I hope that they have modelled their decisions properly out or they have a big issue waiting for them once they return with their full bellies from the Christmas break.
The only positive thing is that the USD/CHF has finally broken out of its range but the new support has to be tested to confirm that the breakout is for real.
  • #1,880
  • Dec 17, 2011 12:22am Dec 17, 2011 12:22am
Quoting Pipstrumpf
I think P. Hildebrand's coin landed on the wrong side when they announced their decisions.
It's the Swiss way slow but eventually they will act on it however, I believe they have missed out on a good opportunity to step up the game as markets are very thin.
It looks like the may have to defend the floor next year with the speculators back on board early 2012.
For the sake of the exporters I hope that they have modelled their decisions properly out or they have a big issue waiting for them once they return with their full bellies from the Christmas...
Or the SNB's goal is to fake the market out--which was already very long eur/chf--and intervene/raise the cap closer to Christmas when liquidity is even lower, causing another very large jump... 1.40??

EDIT: Though I think it is important to note that european situation must be watched closely....
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