EUR/CHF

According to a RBS note today we got it all wrong.

The CHF went and has been going up because of the inflows of the swiss citizens, and not because of the foreigners.

http://www.blick.ch/news/wirtschaft/...id1823983.html

let's go!!

this is very good but...nothing new

it is new.. the determination... he is an very important person

reason for the spike at 20.50

i would like to agree, but i cant. in fact i dont think there will be an intervention until we go down under 2020 or earliest when the new snb chairman will be elected.

No this is just theory by some one who understands economics or believe to be

thats not so much just think about it, eurchf was on 1,35 level last time in november, 2010. u really think that big players wait more than one and a half year to get their money back? im sorry but i really doubt it....

true.. 1.25 was in last May'2011 so it will be another month and we haven't reached that level

Amazing facts

Retail and speculators seem to carry no weight at all in this market. Positioning is again at the highest in years and this pair does not move an inch... better wait for SNB, they are the only movers here. Schneider-Ammann seems to have the right words -very huhuhu- but...

so Is it going somewhere?

Do not know for sure, I am watching the same as you, I am not interested in the short term though.

Entry levels?

I do scalping short term

closed long in profit at 1.20658
this is not my pair but 15 pips is not bad.
i will wait for another dip to buy if any

FXstreet.com (Barcelona) - The myth that foreign investors were to blame on the strong rally enjoyed by the Swissy last year is wrong, according to HSBC.

As reported by Alexandra Fletcher from Dow Jones, after thoroughly scrutinizing Switzerland's balance-of-payments data, the bank found that foreigners weren't the reason why EUR/CHF reached levels near parity in August last year.

Instead, HSBC reckons, "it was the locals who were to blame--the very people who would typically be expected to hold the franc down with their enthusiastic buying of overseas assets" Ms. Fletcher says.

"If the story regarding euro-zone break-up fears were true, we should have seen a big inflow on the portfolio accounts by foreigners. That is foreigners rushing into Swiss franc assets. However, in the third quarter of 2011 net portfolio investment saw an outflow of CHF10 billion," HSBC said Monday in a note to clients.

"When [the] world looks like a dire place and the investment opportunities around the world look poor, the Swiss are unable to find investment opportunities abroad and hence the outflows from Switzerland slow. Meanwhile, the current-account inflows continue and this puts pressure on the franc to appreciate," David Bloom, the bank's global head of foreign exchange, said.

HSBC adds: "Market watchers are in danger of misreading the reasons why that floor is proving effective. Since the official data don't show a big run-up in the SNB's reserves, it follows that the central bank isn't bingeing on euros to maintain that floor. The SNB, rather, has been lucky. That's because shares have performed well since the floor was imposed, pushing Swiss investors abroad in search of returns."

Daragh Maher, FX strategist at the bank concludes: "At some point those investors will want to bring their returns and dividends home and when that happens the franc will rise again. When we started investigating the numbers, this is not the result we thought we would find."

With respect to hsbc, those are also only theories.
What caused the last years downtrend is simply speculative trading to me, there was a great downtrend, and many traders did see the opportunity to ride the wave, letting the trend continue day after day.
And i don't think that snb is being successful with the current peg for pure luck, comeon.

Heck I'm 14 pips in plus with this thing, and am more than willing to hold my lots for the long term. We had a double bottom from Friday to Monday in the 4 hour followed by a key reversal in the same.

Dove speak from Schneider-Amman and a stabilizing EZ can only have positive influence on the pair, at least for those that have the patience to wait it out.

If I need volatility and action I trade oil. Good luck to all.

as i thought, we did not reach 2070 and now we r going down again to 2050. only snb can help us, no one else.

I haven't added anything to my long EURCHF today. Will wait for 1.21 to be taken out.

1.205x area here we are again, if it stay above 1.2045 chances are that something good happen, I just added a little (sl 20446) lets see

I exited at 1.2064 yesterday

Will enter again if it goes to 1.2049

OR

1.2080 is broken