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EUR/CHF

  • #4,701
  • Apr 7, 2012 11:51am Apr 7, 2012 11:51am
Quoting pemully
trading point brokers charts are showing a close of 1.19932!!!

the peg has been broken! I repeat the peg has been broken! !!

what are other mt4 bucketshops showing?
i dont really understand u, markets are closed...
  • #4,702
  • Apr 7, 2012 11:53am Apr 7, 2012 11:53am
Quoting pemully
trading point brokers charts are showing a close of 1.19932!!!

the peg has been broken! I repeat the peg has been broken! !!

what are other mt4 bucketshops showing?
Spread widening. thats probably the ask price not bid. SNB will defend the peg and even on monday if it falls they will still be there to sell francs. (they've said so).

Plus the fx markets DONT close, just volumes plummet over the weekend.
  • #4,703
  • Apr 7, 2012 11:56am Apr 7, 2012 11:56am
Quoting worsttrader
i dont really understand u, markets are closed...
yep....but they show it closed at 1.9932 while others show 1.2006
wo-yoy! wo-yoy! wo-yoy! wo-yoi! wo-yoy-yoy-yoy!
  • #4,704
  • Apr 7, 2012 11:59am Apr 7, 2012 11:59am
Quoting JeremyWS
Spread widening. thats probably the ask price not bid. SNB will defend the peg and even on monday if it falls they will still be there to sell francs. (they've said so).

Plus the fx markets DONT close, just volumes plummet over the weekend.
ok. gotcha
wo-yoy! wo-yoy! wo-yoy! wo-yoi! wo-yoy-yoy-yoy!
  • #4,705
  • Apr 7, 2012 12:00pm Apr 7, 2012 12:00pm
Quoting pemully
yep....but they show it closed at 1.9932 while others show 1.2006
yep, thats possible, but definitely not means the peg has been broken but means ur broker is a douchebag
  • #4,706
  • Apr 7, 2012 12:07pm Apr 7, 2012 12:07pm
Quoting pemully
trading point brokers charts are showing a close of 1.19932!!!

the peg has been broken! I repeat the peg has been broken! !!

what are other mt4 bucketshops showing?
you are panic little fish ...Don't worry man, just make peace with yourself...I'm a little fish too and I will lose money too if the peg will be broken. But I will buy lower cause I'm expecting SNB to get back the pair to 1.20 and to decrease my loss.
In market, you must put only the money you can afford to lose without having nightmares, not your life savings.
Speculation converts one man's capital into another man's income
  • #4,707
  • Apr 7, 2012 12:25pm Apr 7, 2012 12:25pm
@JeremyWS,

why would you assume that the market is open on weekends. please give me your explanation and the source of your info, not for my sake, but for the sake of exchanging correct information, as i am witnessing alot of misinformation and ignorance being given in forexfactory. it seems to me that most of the people here have never had a job in any financial institution.

Quoting JeremyWS
Spread widening. thats probably the ask price not bid. SNB will defend the peg and even on monday if it falls they will still be there to sell francs. (they've said so).

Plus the fx markets DONT close, just volumes plummet over the weekend.
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  • #4,708
  • Apr 7, 2012 2:21pm Apr 7, 2012 2:21pm
The weekend rates are useless for trading of course because the market is close, but when it will open it will start from where the "weekend rates" are, xe.com use the medium price (ask+bid /2), however don't panic the pair is just sit 1 pip above the peg, it will probably not broke it unless the snb decide so, and I understand that they will not let it happen, so longs are safe.

But there is another point to look at, the market want to go down, and it will stay a few pips above the peg. The only way to let it go up, is do it artificially by raising the floor, and we don't know if this will ever happen, so... mmm this trade is starting to sound a little bit senseless, isn't it?
  • #4,709
  • Apr 7, 2012 2:49pm Apr 7, 2012 2:49pm
Quoting tunera
But there is another point to look at, the market want to go down, and it will stay a few pips above the peg. The only way to let it go up, is do it artificially by raising the floor, and we don't know if this will ever happen, so... mmm this trade is starting to sound a little bit senseless, isn't it?
if it is that scenario which is not paranoid, then it is just a scalping market. And like that should be treated.

not crazy leverage, maybe 40-50pips SL/TP and then get the hell out.

I am not crazy about scalping, but I know one. Clever scalpers are like snipers. They dont hit twice from same position. because an obious scalping can be a trap, like an obvious sniper's position.
(At least scalpers have their stop loss)
There shall be no QE3
  • #4,710
  • Apr 7, 2012 3:26pm Apr 7, 2012 3:26pm
Quoting Helloguys
if it is that scenario which is not paranoid, then it is just a scalping market. And like that should be treated.

not crazy leverage, maybe 40-50pips SL/TP and then get the hell out.

I am not crazy about scalping, but I know one. Clever scalpers are like snipers. They dont hit twice from same position. because an obious scalping can be a trap, like an obvious sniper's position.
(At least scalpers have their stop loss)
comeon, this pair is surely not good for scalping, it's damn slow and the range is too little, of course you can buy now and set a 10pips tp chances are that you will get your little profit in few hours or a few days, but you can scalp eurusd or gold or whatever and get it much more easily, yeah scalping is very hard to do consistently and only a few are capable of, that's why probably many like to scalp eurchf.
I'm just starting to reconsider the whole eurchf trade, i give it one week if it decide to make some serious move ok, otherwise i'll call it a trade and well burned some money and 2months of my time, absolutely a fail, but at one point or another this thing must find an end.
I hope the snb will raise this floor soon and everybody happy what a trade, insane
  • #4,711
  • Apr 7, 2012 3:49pm Apr 7, 2012 3:49pm
Quoting t-rader
@JeremyWS,

why would you assume that the market is open on weekends. please give me your explanation and the source of your info, not for my sake, but for the sake of exchanging correct information, as i am witnessing alot of misinformation and ignorance being given in forexfactory. it seems to me that most of the people here have never had a job in any financial institution.
You are joking right? the markets are open over the weekend. I emplore you to go to your nearest post office and exchange some of your local currency for some of that from abroad this weekend. It doesn't take a genius to figure out that you've just traded on the forex market by doing that on the weekend. Just because your poxy broker doesn't allow you to trade doesn't mean its not open.

If you still aren't convinced have you ever wondered how the mystical retail phenomenon of "GAPS" occur? Oh by people trading over the WEEKEND and changing the price.

Please learn how the world works before trying to correct me. Even better you just got your arse handed to you by a 16 year old.
  • #4,712
  • Apr 7, 2012 4:40pm Apr 7, 2012 4:40pm
sorry to break it to you. fx market closes on weekends. the rates that you get from exchange centers are based on the positions that they have. if they have long positions or short positions and they want to get rid of it or keep it, they give rates based on their decision and not from market rate. it is called shadowing the quotes. and the rates that you get from your broker, is only the brokers rate and not the market rate as the market is closed. to you, your broker is a market maker, but to me, your broker is a market taker since i give them the rates. why? because i work in a financial institution in a bank. and as far as i can tell you,,,,,banks from goldman sachs, to barclays, to nomura are CLOSED ON WEEKENDS. sorry to break it to you, you are a KID who know nothing of financial markets, let alone fx markets. it is funny that an unemployed 16 yr old kid trying to teach me about fx markets. in addition, you are trying to teach me GAPS???? GAPS occur because in fx markets, there is something called pre-market opening which is an hour before market officially opens on the banking system. however, it is illegal for banks to trade based on premarket rates. do you understand between unofficial and official rates.

the difference, between you and me is that you are trading to make few bucks, and when you lose, you only close your account, or DEMO account, eh!!!. i trade financial markets and especially fx markets as a career, and i lose i get fired!!!!

the GAP of knowledge between you and me is like the difference between salty water and sweet water.....they do not mix.

sorry kid, i think your arse is still wide open.

Quoting JeremyWS
You are joking right? the markets are open over the weekend. I emplore you to go to your nearest post office and exchange some of your local currency for some of that from abroad this weekend. It doesn't take a genius to figure out that you've just traded on the forex market by doing that on the weekend. Just because your poxy broker doesn't allow you to trade doesn't mean its not open.

If you still aren't convinced have you ever wondered how the mystical retail phenomenon of "GAPS" occur? Oh by people trading over the WEEKEND and changing...
  • #4,713
  • Apr 7, 2012 5:35pm Apr 7, 2012 5:35pm
Com'on guys, let me use jordan's words: "relevant interbank market"...that closes Friday night and opens Sunday. Of course the bid(peg) is there. Funny if theres an offer on weekend below 1,2. Let me take 8bln of it till monday and finish all the bs
  • #4,714
  • Apr 7, 2012 9:14pm Apr 7, 2012 9:14pm
Quoting tunera
comeon, this pair is surely not good for scalping, it's damn slow and the range is too little, of course you can buy now and set a 10pips tp chances are that you will get your little profit in few hours or a few days, but you can scalp eurusd or gold or whatever and get it much more easily, yeah scalping is very hard to do consistently and only a few are capable of, that's why probably many like to scalp eurchf.
I'm just starting to reconsider the whole eurchf trade, i give it one week if it decide to make some serious move ok, otherwise i'll call...
Or you can buy now and just enjoy the swaps..
If it stays at this level for months, you get 7 pips every month on some brokers.
If it goes up, you close.
I don't think SNB will raise the floor, but I do think it will hit 1.2065 at least once again.
  • #4,715
  • Apr 7, 2012 10:47pm Apr 7, 2012 10:47pm
Indeed, i suspect SNB would be comfortable to have it around 1.2050-1.2100. Would have some margin of safety against any technical glitches in the market.

Intervention is expensive as demonstrated by BOJ and SNB's previous attempts. It also encourages speculation and increase volatility, which is bad for business planners. Keeping the floor close to 1.2000 is sensible.

1.2000 is here to stay (at least until the next monetary assessment in June). FX Dealers at BIS would be carefully watching this level over the next week.
  • #4,716
  • Apr 7, 2012 11:40pm Apr 7, 2012 11:40pm
Quoting Markoz
I think the floor will hold for now, it may dip slightly but beware of your brooker too. Eventually I see this pair higher slowly if the floor is not broken I don't see a large intervention but would like it. The options the snb have that come to mind is raise the floor say to 1.25 or tax inflows of cash. This is going to be very interesting indeed. I have placed a sell order at 1.1950 with a trailing tight stop just incase this thing does give way as insurance, because if it does break hard I think 300 pips and more any thoughts?
If we have a 300 pips gap over the weekend then your sell order will be executed 300 pips down as well.
  • #4,717
  • Apr 8, 2012 12:34am Apr 8, 2012 12:34am
as far as I am concerned,this pair is locked limit down .....if snb buy euros in unlimited quantities they will be faded back to 1.20....this scenario will repeat itself continuously until they give up.
one wonders why they didn't just print more francs and kept quiet ....now that would have caught the attention of the big guns and would have been more effective.
wo-yoy! wo-yoy! wo-yoy! wo-yoi! wo-yoy-yoy-yoy!
  • #4,718
  • Apr 8, 2012 1:06am Apr 8, 2012 1:06am
Quoting pemully
as far as I am concerned,this pair is locked limit down .....if snb buy euros in unlimited quantities they will be faded back to 1.20....this scenario will repeat itself continuously until they give up.
one wonders why they didn't just print more francs and kept quiet ....now that would have caught the attention of the big guns and would have been more effective.
1.2014 on xe.com. Probably it will go back down...
But maybe Friday evening was a singular chance to buy under 1.2010....
Anybody thinking it is possible to open above 1.203 on Monday?
  • #4,719
  • Apr 8, 2012 2:12am Apr 8, 2012 2:12am
Quoting rcrist
1.2014 on xe.com. Probably it will go back down...
But maybe Friday evening was a singular chance to buy under 1.2010....
Anybody thinking it is possible to open above 1.203 on Monday?
Yeah, maybe more little gap up than down. Some closed for holiday, a good reopen for new pres announcement. However chances of other measures lower thanks to cpi data. Snb now more wait and see mode now. Next cpi data key...i think
  • #4,720
  • Apr 8, 2012 2:19am Apr 8, 2012 2:19am
Anyone has the details of the shocking CPI report? Would be interesting to see the structure, was it imported inflation(energy) or something else?
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