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EUR/CHF

  • #4,381
  • Apr 5, 2012 6:56am Apr 5, 2012 6:56am
The SNB is very occupied with the level which the pair fell to. They say the 1.2 was defended, others say that it fell. Options here or there...

Just the fact that they are so adamant about this, could mean that we never get near the 1.2 again, just to make sure.

The US session could tell the tale. Right now any move up is being capped at about 1.2025.
  • #4,382
  • Apr 5, 2012 6:58am Apr 5, 2012 6:58am
Question on twitter.. if you do search EUR/CHF..

Will it break again long weekend.. fri/mon bank holiday..
Will SNB defend thin market over the weekend..or coming weeks?
  • #4,383
  • Apr 5, 2012 7:02am Apr 5, 2012 7:02am
"With SNB having a bid on 1.2000, it's CLEAR that they're not "letting the market clear out longs." They're defending 1.2000....from a traders perspective, yes, letting $EURCHF dip below 1.2000 might be beneficial; as central bankers, there's no benefit at all. I have my Stop on $EURCHF at 1.1950 for now." - Tweeter from DailyFx - CVecchio
Speculation converts one man's capital into another man's income
  • #4,384
  • Apr 5, 2012 7:02am Apr 5, 2012 7:02am
somehow i think SNB will work overtime
  • #4,385
  • Apr 5, 2012 7:03am Apr 5, 2012 7:03am
Quoting coolkaps4u
Question on twitter.. if you do search EUR/CHF..

Will it break again long weekend.. fri/mon bank holiday..
Will SNB defend thin market over the weekend..or coming weeks?

Bank holiday doesn`t matter. SNB in on the market 24 hours 7 days a week!
Only luquidity is twice lower now on EUR/CHF, so easier for intervention or speculation!
  • #4,386
  • Apr 5, 2012 7:04am Apr 5, 2012 7:04am
It may do something major sometime today as its a long weekend, they wouldn't want it the markets to open monday and be at 1.905 would they.
  • #4,387
  • Apr 5, 2012 7:06am Apr 5, 2012 7:06am
Quoting cipid2012
"With SNB having a bid on 1.2000, it's CLEAR that they're not "letting the market clear out longs." They're defending 1.2000....from a traders perspective, yes, letting $EURCHF dip below 1.2000 might be beneficial; as central bankers, there's no benefit at all. I have my Stop on $EURCHF at 1.1950 for now." - Tweeter from DailyFx - CVecchio
That's a good point. Can someone answer that? If they wanted to clear out the stops, why didn't they let the market clear them out?
  • #4,388
  • Apr 5, 2012 7:09am Apr 5, 2012 7:09am
How many stops cleared out today?
Any estimates?
  • #4,389
  • Apr 5, 2012 7:10am Apr 5, 2012 7:10am
Quoting stockey
That's a good point. Can someone answer that? If they wanted to clear out the stops, why didn't they let the market clear them out?
maybe they did, by stop buying 2030 levels for 2 mins. who knows?
  • #4,390
  • Apr 5, 2012 7:10am Apr 5, 2012 7:10am
Quoting worsttrader
maybe they did, by stop buying 2030 levels for 2 mins. who knows?
No I mean the big stops under the floor
  • #4,391
  • Apr 5, 2012 7:11am Apr 5, 2012 7:11am
Quoting coolkaps4u
How many stops cleared out today?
Any estimates?
donno. can we find out somehow?
  • #4,392
  • Apr 5, 2012 7:13am Apr 5, 2012 7:13am
i went in long at 1.1929. SL at BE +5

If I have a basket of apples, and I say I want to maintain a minimum of 5 apples. So people started taking the apples and suddenly i noticed there were 4 apples. I don't have to put 10 apples back in the basket , i just need 1 apple to maintain the 5 apples minimum
  • #4,393
  • Apr 5, 2012 7:15am Apr 5, 2012 7:15am
Quoting jeremyyn
i went in long at 1.1929. SL at BE +5

If I have a basket of apples, and I say I want to maintain a minimum of 5 apples. So people started taking the apples and suddenly i noticed there were 4 apples. I don't have to put 10 apples back in the basket , i just need 1 apple to maintain the 5 apples minimum
You have completely lost me there with the apple bit , and lost me even further with going long at 1.1929 , how long ago was this buddy?

Edit ok I get the apple bit now, i.e. they only need to intervene to maintain 1.20 and not send it to 1.25 etc, I agree , but about that long???
Officer ... I swear to drunk I am not God
  • #4,394
  • Apr 5, 2012 7:16am Apr 5, 2012 7:16am
does anyone remember the time of the day the intervention took place on september 6th? I kind of think we will see something special today, I hope it's not wishful thinking.
  • #4,395
  • Apr 5, 2012 7:19am Apr 5, 2012 7:19am
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tiny intervention, means SNB still defend the peg
  • #4,396
  • Apr 5, 2012 7:20am Apr 5, 2012 7:20am
Quoting xivh
does anyone remember the time of the day the intervention took place on september 6th? I kind of think we will see something special today, I hope it's not wishful thinking.
sept 6, between 9-10 o'clock (cet), as i remember.
  • #4,397
  • Apr 5, 2012 7:20am Apr 5, 2012 7:20am
Quoting xivh
does anyone remember the time of the day the intervention took place on september 6th? I kind of think we will see something special today, I hope it's not wishful thinking.
Well.. the time of intervention which happens previously is gone..

Yes, you will see the floor broken again.. that is special..
Who wants to keep position open over the thin trading long weekend seeing what happen today
  • #4,398
  • Apr 5, 2012 7:21am Apr 5, 2012 7:21am
Quoting Fidza
You have completely lost me there with the apple bit , and lost me even further with going long at 1.1929 , how long ago was this buddy?

Edit ok I get the apple bit now, i.e. they only need to intervene to maintain 1.20 and not send it to 1.25 etc, I agree , but about that long???
It was a monthly pivot point S1. I had a feeling they would send it there so they will also get good entries. The big boys like to buy low and sell high. I also trust the SNB at that time. Surely it could have gone down 500+ pips like what Japan did when they had the tsunami by hitting stop losses. Im sure the market at some point will retest the 1.2 again. Maybe soon
  • #4,399
  • Apr 5, 2012 7:23am Apr 5, 2012 7:23am
one needs to know that snb does not need to be 'active' at their desk or offices in order to defend 1.2000. they have unlimited automated buy limits at 1.2000 (according to their promise) mark for as much as it takes, thus that they can still continue to hold the floor even while their entire board/rank and file are at church attending mass.
  • #4,400
  • Apr 5, 2012 7:25am Apr 5, 2012 7:25am
Actually my forex client shows 3 breaches of the SNB floor of 1.2: 11.41 (1.1997), and 11.43 and 11.46 (both at 1.1999). It is 3 breaches in 5 minutes!
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