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EUR/CHF

  • #2,781
  • Feb 1, 2012 10:22am Feb 1, 2012 10:22am
yuuuhhhuuu.. SNB.. Where are you? i need you..
  • #2,782
  • Feb 1, 2012 10:24am Feb 1, 2012 10:24am
Quoting intermiten
yuuuhhhuuu.. SNB.. Where are you? i need you..
They are off duty now, try again tomorrow....
  • #2,783
  • Feb 1, 2012 11:31am Feb 1, 2012 11:31am
Credits to Aspen Trading (free content) section.

""Hi guys,

How about going long EURCHF with a stop bid a little ABOVE the current market, in case SNB intervenes?

It is a new month, and 1.2000 is close..."

Thanks for the question, a couple of points from our perspective:

EUR/CHF is essentially not a free floating currency at this time due to the SNB intervention threat at holding EUR/CHF above 1.2000
A 'stop bid', as you note, above current levels (buy limit order) would not be the best approach if we were getting long based solely on SNB interention. Your order would be triggered and you would be filled at the next price - presumably 100-200 pips higher.
For us - the complete lack of wave structure or any component of Inter-Market Analysis within the IPA Pyramid - offers us little to work with.
Lastly, monetary authorities tend to view markets with a longer term view than market
participants who agonize over every small move. Very significant losses can be incurred at a time which central bankers consider relatively stable. A move below 1.2000 for a short period of time may be viewed with indifference by the SNB. Case in point, USD/JPY dropped to 3-month lows last week after a big spike higher earlier in the week - as of now - still no sign of the BoJ - traders who went long USD/JPY expecting the BoJ to ride to the rescue are licking their wounds right now.

So - just my 2 cents. There are many ways to determine logical trade set-ups - however, within our framework of the IPA Pyramid - longs in EUR/CHF do not work for us at present. -DF-"
  • #2,784
  • Feb 1, 2012 12:49pm Feb 1, 2012 12:49pm
Quoting Blue.Trader
Good idea, I'm thinking to send my C.V. to SNB.
  • #2,785
  • Feb 1, 2012 2:23pm Feb 1, 2012 2:23pm
Stupid Nerdy Bastards
  • #2,786
  • Feb 1, 2012 2:56pm Feb 1, 2012 2:56pm
Hmm....quite interesting

By FXStreet http://www.fxstreet.com/news/forex-n...5-b6b9d72cb675

"...Lloyds "reexamined the long and short-term charts to consider if the charts indicate if investors still place such strong faith in the SNB policy," but they conclude "that the long-term chart still looks to retest 1.1311 at a minimum, before the 4 year downtrend can exhaust."..."
  • #2,787
  • Feb 1, 2012 6:03pm Feb 1, 2012 6:03pm
Anyone long this pair with Oanda? They are now charging 0.01% interest to be long!!

Time to switch brokers?
  • #2,788
  • Feb 1, 2012 6:16pm Feb 1, 2012 6:16pm
Quoting Mosq
Hmm....quite interesting

By FXStreet http://www.fxstreet.com/news/forex-n...5-b6b9d72cb675

"...Lloyds "reexamined the long and short-term charts to consider if the charts indicate if investors still place such strong faith in the SNB policy," but they conclude "that the long-term chart still looks to retest 1.1311 at a minimum, before the 4 year downtrend can exhaust."..."
Long term technicals don't have as much meaning when you're dealing with contrary fundamentals. Only short term technicals make sense in guiding the "when" to the "what" established by the overriding short term fundamentals. Cheers
  • #2,789
  • Feb 1, 2012 9:29pm Feb 1, 2012 9:29pm
Nice move today...up up and away...
  • #2,790
  • Feb 1, 2012 9:38pm Feb 1, 2012 9:38pm
Quoting Fizzerr
Anyone long this pair with Oanda? They are now charging 0.01% interest to be long!!

Time to switch brokers?
No they're not. I collected interest on my longs today and yesterday and the day before and....

Check your math or your eyesight.
  • #2,791
  • Feb 1, 2012 9:47pm Feb 1, 2012 9:47pm
Quoting Fizzerr
Anyone long this pair with Oanda? They are now charging 0.01% interest to be long!!

Time to switch brokers?
I don't think any broker charges interest on this pair instead everyone offering interest for holding up this pair...

Today i just closed one of my buy position in this pair with accumulating 3 days of interest...

Will enter again at 1.2030 levels (if come)...
  • #2,792
  • Feb 1, 2012 9:58pm Feb 1, 2012 9:58pm
Go to the interest rate calculator. Trust me, from today you are paying interest.
  • #2,793
  • Feb 1, 2012 9:58pm Feb 1, 2012 9:58pm
Quoting Fizzerr
Anyone long this pair with Oanda? They are now charging 0.01% interest to be long!!

Time to switch brokers?
Have being earning swap interest on every long of this pair. Why do they charges you interest? Don't sound right to me?
  • #2,794
  • Feb 1, 2012 10:01pm Feb 1, 2012 10:01pm
Quoting Forexgain
I don't think any broker charges interest on this pair instead everyone offering interest for holding up this pair...

Today i just closed one of my buy position in this pair with accumulating 3 days of interest...

Will enter again at 1.2030 levels (if come)...

1.2030 will come soon...if the selling continue but it may takes sometime. Today's bids is rather aggressive but not sure if it's sustainable? Come Europe and US open, it's another ball game altogether.
  • #2,795
  • Feb 1, 2012 11:01pm Feb 1, 2012 11:01pm
Here's proof for those who won't believe:
Attached File(s)
File Type: pdf Interest Calculator _ OANDA fxTrade.pdf   413 KB | 556 downloads
  • #2,796
  • Feb 2, 2012 12:37am Feb 2, 2012 12:37am
Quoting Fizzerr
Here's proof for those who won't believe:
If this is the case then i must say they are theives...
  • #2,797
  • Feb 2, 2012 12:43am Feb 2, 2012 12:43am
Quoting Forexgain
If this is the case then i must say they are theives...
Correct. I'm long 10 lots on this pair and my interest payment took a substantial hit yesterday. I'd say they lowered the EUR payment to 0.5% late in the session so most people probably won't notice yet. I think prior to yesterday they were paying 0.75% on the EUR and charging 0.51% on the CHF.

Not happy!
  • #2,798
  • Feb 2, 2012 12:54am Feb 2, 2012 12:54am
Quoting Fizzerr
Correct. I'm long 10 lots on this pair and my interest payment took a substantial hit yesterday. I'd say they lowered the EUR payment to 0.5% late in the session so most people probably won't notice yet. I think prior to yesterday they were paying 0.75% on the EUR and charging 0.51% on the CHF.

Not happy!
For holding 1 lot of E/C my broker pays $2.13 per day and that's quite good interest amount atleast for me.....
  • #2,799
  • Feb 2, 2012 1:28am Feb 2, 2012 1:28am
It's going up before Europe session. May be somebody knows something.

It was the situation on 6 of September 2011.

And there is no communication from SNB till 5 days. Just silent
  • #2,800
  • Feb 2, 2012 1:32am Feb 2, 2012 1:32am
FXstreet.com (Barcelona) - Swiss Trade surplus narrowed to CHF 2 billion in December from CHF 2.945 billion in November, according to data released today by Swiss Statistics. Analysts expected the surplus to narrow only to CHF 2.850 billion.
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