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EUR/CHF

  • #2,681
  • Jan 31, 2012 10:03am Jan 31, 2012 10:03am
Quoting tobias24
SNB won't let it go through 1.20, If they do, hell breaks loose.
hahha..sure
Bismillah
  • #2,682
  • Jan 31, 2012 10:08am Jan 31, 2012 10:08am
1.20 coming soon....let's get ready the champagne...
  • #2,683
  • Jan 31, 2012 10:10am Jan 31, 2012 10:10am
"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."


Read more: http://articles.businessinsider.com/...#ixzz1l3Kvq7sR

there are a lot of stops below 1.20 ~1.195 area I guess. If we break 1.20 we see a free fall of e/c

  • #2,684
  • Jan 31, 2012 10:11am Jan 31, 2012 10:11am
Quoting tobias24
SNB won't let it go through 1.20, If they do, hell breaks loose.
Why would it? Forex is zero game, one wins, other losses. If they let go through 1.20, then small retailers are going to get hit hard, while speculators are going to pocket the profit. Eventually, speculators will move out from CHF, and then it will be much easier to strengthen the currency.

SNB will of course lose credibility.

But what if this talk is all ponzi scheme? I mean, they needed to do something politically to 'help exports' by stating that they will do everything they can to protect the peg. Did they ever even said what they will do except buying in unlimited quantity? .

Peg is broken, and excuse is made that voters will buy.

So if anyone thinks there is no risk involved, it mistaken.

Plus it is much easier to buy Euros when they are cheap .
  • #2,685
  • Jan 31, 2012 10:12am Jan 31, 2012 10:12am
well guys, let's pray for intervention, I am all in
  • #2,686
  • Jan 31, 2012 10:14am Jan 31, 2012 10:14am
Quoting maciejburno
So if anyone thinks there is no risk involved, it mistaken.
I haven't said that, and I think there is a massive risk, as said, if markets want it to dive below 1.20, we see a big move either way
  • #2,687
  • Jan 31, 2012 10:18am Jan 31, 2012 10:18am
Yes, there will probably be a move in one on other direction. I just hope that SNB does something and retail traders do not lose again to speculators.
  • #2,688
  • Jan 31, 2012 10:21am Jan 31, 2012 10:21am
Quoting maciejburno
Yes, there will probably be a move in one on other direction. I just hope that SNB does something and retail traders do not lose again to speculators.
yea I would like that I am now 2 lots long, will add maybe more if we get to 1.2015. my stops are at 1.195
  • #2,689
  • Jan 31, 2012 10:21am Jan 31, 2012 10:21am
i think that i'm wasting my time within this 48+ hours waiting for SNB interventions while other pair such as E/U already did 300+ pips with up and down moves..
  • #2,690
  • Jan 31, 2012 10:23am Jan 31, 2012 10:23am
Quoting tobias24
"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."
[left][color=#000000]
Read more: http://articles.businessinsider.com/...#ixzz1l3Kvq7sR

there are a lot of...
Let's get this straight. If it falls below 1.20, it will trigger a lot of SL. Trades will be closed. Closing trades does not mean a massive EUR/CHF sell offs.
  • #2,691
  • Jan 31, 2012 10:24am Jan 31, 2012 10:24am
Quoting rokokdaun
i think that i'm wasting my time within this 48+ hours waiting for SNB interventions while other pair such as E/U already did 300+ pips with up and down moves..
Exactly...waste all our time. Luckily for me, I did some long at USD/JPY and close d with some pips. At least that pair moves unlike this pair.
  • #2,692
  • Jan 31, 2012 10:35am Jan 31, 2012 10:35am
Quoting multi888
Exactly...waste all our time. Luckily for me, I did some long at USD/JPY and close d with some pips. At least that pair moves unlike this pair.
look at GBPCHF 1H timeframe .. and tell me what happen with EURCHF 1H ... lol
  • #2,693
  • Jan 31, 2012 10:38am Jan 31, 2012 10:38am
The problem like many has said before, is Euro.
  • #2,694
  • Jan 31, 2012 10:38am Jan 31, 2012 10:38am
Quoting rokokdaun
look at GBPCHF 1H timeframe .. and tell me what happen with EURCHF 1H ... lol
hahaha...

funniest ever...
  • #2,695
  • Jan 31, 2012 10:39am Jan 31, 2012 10:39am
Quoting rokokdaun
look at GBPCHF 1H timeframe .. and tell me what happen with EURCHF 1H ... lol

The opposite....GBPCHF and USDCHF moves togther in the same direction except EURCHF.
  • #2,696
  • Jan 31, 2012 10:57am Jan 31, 2012 10:57am
The UBS has lost more than 2 Billion on shorting eur/chf last september.

Now they are long. The Creditsuisse is long too. We heard today, that Barcap is buying at 1.2025-30 level.

Maybe there is a cooperation about this big banks and SNB. They buy eur/chf at this level, and make comments (verbal intervention). This good for SNB because no need to pay to keep the peg for some days.

And good for this banks, because if the SNB will raise the peg later this year, they will get their profit.

If it is true we should follow them. Buy this level
  • #2,697
  • Jan 31, 2012 11:03am Jan 31, 2012 11:03am
Quoting Simon73
The UBS has lost more than 2 Billion on shorting eur/chf last september.

Now they are long. The Creditsuisse is long too. We heard today, that Barcap is buying at 1.2025-30 level.

Maybe there is a cooperation about this big banks and SNB. They buy eur/chf at this level, and make comments (verbal intervention). This good for SNB because no need to pay to keep the peg for some days.

And good for this banks, because if the SNB will raise the peg later this year, they will get their profit.

If it is true we should follow them. Buy this level...
interesting view..
Bismillah
  • #2,698
  • Jan 31, 2012 11:08am Jan 31, 2012 11:08am
Quoting Simon73
The UBS has lost more than 2 Billion on shorting eur/chf last september.

Now they are long. The Creditsuisse is long too. We heard today, that Barcap is buying at 1.2025-30 level.

Maybe there is a cooperation about this big banks and SNB. They buy eur/chf at this level, and make comments (verbal intervention). This good for SNB because no need to pay to keep the peg for some days.

And good for this banks, because if the SNB will raise the peg later this year, they will get their profit.

If it is true we should follow them. Buy this level...
where do you have this info from?
  • #2,699
  • Jan 31, 2012 11:14am Jan 31, 2012 11:14am
i heard about this intervention / price lifting before jan 2012.. but it aint happen.. at the time price was 1.24xx.. they said SNB going to lift up till 1.4 something.. luckily i didnt go long at that time.. based on usdchf was hitting higher resistance level, so it may retrace down for quite sometime..

for now, imho, if snb really want to take the price up till 1.4 they already did that, and dont have to wait till price reach 1.20 level. but, hopefully, it's worth to stay long at this level with tight stop loss.. if so called peg level break in coming days / weeks and hit my SL, i'll never believe in such thing anymore i guess.. hehe

gudluck to all of us.
  • #2,700
  • Jan 31, 2012 11:14am Jan 31, 2012 11:14am
Quoting Simon73
The UBS has lost more than 2 Billion on shorting eur/chf last september.

Now they are long. The Creditsuisse is long too. We heard today, that Barcap is buying at 1.2025-30 level.

Maybe there is a cooperation about this big banks and SNB. They buy eur/chf at this level, and make comments (verbal intervention). This good for SNB because no need to pay to keep the peg for some days.

And good for this banks, because if the SNB will raise the peg later this year, they will get their profit.

If it is true we should follow them. Buy this level...
If this is so then it would be interesting to know where do they place their stops. Hope they donīt run the retailerīs stops and then start to trend up. It makes sense for banks to be long the EURCHF because it is a hedge against the inflation that the SNB will create.
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