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EUR/CHF

  • #2,761
  • Feb 1, 2012 6:59am Feb 1, 2012 6:59am
Quoting Mosq
EURUSD rising, USDCHF lowering, seems less aversion to risk and EURCHF stable
EUR rallies against all currencies apart from CHF. I really wonder what plan SNB has. What is SNB waiting for...?
  • #2,762
  • Feb 1, 2012 7:07am Feb 1, 2012 7:07am
Quoting Mosq
EUR rallies against all currencies apart from CHF. I really wonder what plan SNB has. What is SNB waiting for...?
I guess SNB main goal is to keep 1.20 rather than try to push the price higher..
  • #2,763
  • Feb 1, 2012 7:14am Feb 1, 2012 7:14am
Quoting simeeon
I guess SNB main goal is to keep 1.20 rather than try to push the price higher..
we sit on right place right now ..patience is tha key
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Early to bed, early to rise, keeps you healthy, wealthy and wise.
  • #2,764
  • Feb 1, 2012 7:16am Feb 1, 2012 7:16am
Quoting simeeon
I guess SNB main goal is to keep 1.20 rather than try to push the price higher..
So why they every time stressed that frank is still too strong? imho if they plan intervene it is always better do this in the same corelation with market. I read lots of comments pointing this out when intervention is succesfully taking into account cost of intervention
  • #2,765
  • Feb 1, 2012 7:37am Feb 1, 2012 7:37am
What about the Historical data link I was asking for guys...
  • #2,766
  • Feb 1, 2012 7:47am Feb 1, 2012 7:47am
Quoting farhaj
What about the Historical data link I was asking for guys...
http://barchart.com/charts/forex/%5EEURCHF

its all there. just choose "bar type: candlestick", and click on draw chart.
  • #2,767
  • Feb 1, 2012 8:12am Feb 1, 2012 8:12am
Quoting tobias24
http://barchart.com/charts/forex/%5EEURCHF

its all there. just choose "bar type: candlestick", and click on draw chart.
Can u also tell me the other types I have to make in it.. in order to get it exactly like the pictures u sent b4.. and also the cursor where I can know the daily highs and lows for that bar..
  • #2,768
  • Feb 1, 2012 8:14am Feb 1, 2012 8:14am
well just get a free mt4 demo acc. e.g. fxpro offers unlimited demo.
  • #2,769
  • Feb 1, 2012 8:16am Feb 1, 2012 8:16am
Am I the only one who thinks the current situation is every central banker's nicest fantasy? A threshold they have sworn to defend + speculators (no matter how large) trying to break it equals lots of free cash they can use to build up the country's foreign currency reserves or buy gold, or whatever. Who says they have to keep the euros acquired with printed francs as euros?
If I was in charge there I would keep 1T francs in bid at 1.2, 100B at 1.201, etc. And use hidden volumes not to scare the shorts away.
Counterarguments, pretty please.
  • #2,770
  • Feb 1, 2012 8:18am Feb 1, 2012 8:18am
Quoting farhaj
Can u also tell me the other types I have to make in it.. in order to get it exactly like the pictures u sent b4.. and also the cursor where I can know the daily highs and lows for that bar..
Seem like you have a big project going on...
  • #2,771
  • Feb 1, 2012 8:25am Feb 1, 2012 8:25am
Quoting temp
Am I the only one who thinks the current situation is every central banker's nicest fantasy? A threshold they have sworn to defend + speculators (no matter how large) trying to break it equals lots of free cash they can use to build up the country's foreign currency reserves or buy gold, or whatever. Who says they have to keep the euros acquired with printed francs as euros?
If I was in charge there I would keep 1T francs in bid at 1.2, 100B at 1.201, etc. And use hidden volumes not to scare the shorts away.
Counterarguments, pretty please.
I am forwarding this to SNB...
  • #2,772
  • Feb 1, 2012 8:32am Feb 1, 2012 8:32am
Quoting multi888
Seem like you have a big project going on...
haha yea seems like
  • #2,773
  • Feb 1, 2012 8:34am Feb 1, 2012 8:34am
Quoting Schnitzel
The closest interventions were at 1.5011, 1.5004, 1.5004 and 1.5012.
Based on the chart, it never went below 1.5 even for one second before they left the peg. So, I think we will experience the same thing(it will never break the peg even for a while) as SNB always says they defend the peg with utmost determination.

At that time Hildebrand was the chairman, and as everybody knows he has resigned and Jordan is interim head right now. Although I like Hildebrand's characteristic and I think he was the best one who could defend the peg as he set it, I believe his resignation is good for holding the peg.

Imagine eur/chf breaks the peg. Every one will say: I wish Hildebrand was in SNB, he could keep his word as he did before, but Tomas Jordan can not even manage SNB for a while, he will damage our economy and he ruined all of Hildebrand's achievements and ...

So, market will give the credibility to Hildebrand rather than SNB and with changing the head, SNB doesn't have its previous credit.

On the other hand, Jordan wants to show himself as a guy who is fully determined to keep SNB strategy and he is reliable as a next snb chairman. And market will never any excuse from him for leaving the peg, even if he brings so many evidence that leaving the peg is so much better than keeping it for Swiss economy for instance.

But, if Hildebrand was the head, market maybe would accept these excuses for leaving the peg. As he set the peg in 2009 and left it and nothing happened, but market will never forgive Jordan.

Moreover, in 2009, SNB defended the peg several times, but it's the first time that snb is really challenged to defend 1.2 and it will ruin their credibly if they couldn't keep the peg at the first attempt.

All in all, I think we will see an intervention or at least a 200-300 spike even at 1.2001.
  • #2,774
  • Feb 1, 2012 8:50am Feb 1, 2012 8:50am
Quoting Blue.Trader
Based on the chart, it never went below 1.5 even for one second before they left the peg. So, I think we will experience the same thing(it will never break the peg even for a while) as SNB always says they defend the peg with utmost determination.

At that time Hildebrand was the chairman, and as everybody knows he has resigned and Jordan is interim head right now. Although I like Hildebrand's characteristic and I think he was the best one who could defend the peg as he set it, I believe his resignation is good for holding the peg.

Imagine eur/chf...

I wish you were the SNBīs chairman!
  • #2,775
  • Feb 1, 2012 8:51am Feb 1, 2012 8:51am
Quoting Blue.Trader
Based on the chart, it never went below 1.5 even for one second before they left the peg. So, I think we will experience the same thing(it will never break the peg even for a while) as SNB always says they defend the peg with utmost determination.

At that time Hildebrand was the chairman, and as everybody knows he has resigned and Jordan is interim head right now. Although I like Hildebrand's characteristic and I think he was the best one who could defend the peg as he set it, I believe his resignation is good for holding the peg.

Imagine eur/chf...
I absolutly agree. One other issue with the credibility. It is does not matter if a lot of retail trader lose the credbility. It is not important. But if all hedge funds, big banks, etc don't beleive the SNB, and start to sell eur/chf below 1.2 it is much important. Then it will be very hard to keep this level and keep another level in the future (1.25 1.3 or 1.35).

So, as Jordan said : "there is no other alternatives keeping the peg"
  • #2,776
  • Feb 1, 2012 8:52am Feb 1, 2012 8:52am
Dear Traders,

We're on the same boat...personally I trust SNB's credibility...

Below article is for your information:

http://www.brecorder.com/money-a-ban...pWkwo.facebook

Good luck,

Wallace
  • #2,777
  • Feb 1, 2012 9:06am Feb 1, 2012 9:06am
Quoting xivh
I wish you were the SNBīs chairman!
Good idea, I'm thinking to send my C.V. to SNB.
  • #2,778
  • Feb 1, 2012 9:50am Feb 1, 2012 9:50am
At long last, there's some up movement today breaking trend line on 1H TF but still no intervention insight.
  • #2,779
  • Feb 1, 2012 9:57am Feb 1, 2012 9:57am
By: Jamie Coleman

Yes, of course. For a while. They'll absorb lots and lots of selling but you can forget any grand scheme to launch EUR/CHF to 1.3000 or some such nonsense. I'd expect them to take in several tens of billions of euros at 1.2000 if forced to, but at some point will abandon the peg if they are forced to build reserves beyond some reasonable limit. I'd expect the intervention to pay diminishing returns. The first round of buying will spark somewhat of a bounce but subsequent will provoke smaller and smaller bounces. Eventually, when we stop bouncing at all, they will pull the plug... Just one man's opinion.
  • #2,780
  • Feb 1, 2012 9:58am Feb 1, 2012 9:58am
Got a test trial of talking-forex.com news feed (anyone else use this at all, i am looking for a good news feed out there if anyone knows?), I saw this come up a bit earlier. This floor peg has been will be a wild ride so far, SNB seems firm on upholding it.

http://www.forexfactory.com/attachme...1&d=1328110657
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