I don't think it's going to gap down below 1.2000.
SNB works 24/7, so no chance except for broker slippage.
Remember the Spanish bank bailout Mon? EURUSD shot up with a 120pips or so, but nothing much on EURCHF. It's easier for EURCHF to go up than to drop following any news on EUR.
I'm prepared for 15pips slippage below.
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The SNB are sitting at 1.20 with unlimited amounts last I heard there was a bid of 41 billion at that level. As you say it can't gap down unless the broker lets it.
The SNB are sitting at 1.20 with unlimited amounts last I heard there was a bid of 41 billion at that level. As you say it can't gap down unless the broker lets it.
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I'm with you and I know SNB is there to take actions 24/7,but always a risk exists and you need to be covered..it's about prudence because nobody knows what will happen Monday morning.Everybody knows the case with Lehman Brothers when the markets went down 400 pips,but I think today everybody is prepared and watching very carefuly greek elections. For EUR/CHF, SNB is backing and defending that's why I'm in with all my confidence,but with guaranteed SL to be covered in any case. But for other pairs you are more exposed cause nobody is defending and you need to know the risk..especially for this weekend.
Speculation converts one man's capital into another man's income
I'm with you and I know SNB is there to take actions 24/7,but always a risk exists and you need to be covered..it's about prudence because nobody knows what will happen Monday morning.Everybody knows the case with Lehman Brothers when the markets went down 400 pips,but I think today everybody is prepared and watching very carefuly greek elections. For EUR/CHF, SNB is backing and defending that's why I'm in with all my confidence,but with guaranteed SL to be covered in any case. But for other pairs you are more exposed cause nobody is defending and...
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I cut half my positions yesterday took a bit of a hit on them but as you say prudence is best.
Guys,it's about market opening price on Monday morning due greek elections...if that opening price will be way under peg overpassing your SL ...most traders does't have a guaranteed one...suppose an opening with 200-300 pips down it will be a catastrophic situation on market and I am not talking only for Eur/chf,but for all pairs...it is consider a huge risk for this weekend,nobody could anticipate the consequences...look even Oanda suspended the trading during Sunday this week :
Written by Pete Jackson
June 15, 2012 at 07:53 GMT
New democracy slightly ahead
By at least 0.5% in most polls according to CNBC TV, but reports also suggest that as much as 20 % remain undecided in some key cities.
Most see a New Democracy/PASOK coalition as the likely result, but with a very strong opposition in Syriza
0955 GMT [Dow Jones] BAK Basel Economics expects the SNB's EUR/CHF floor to hold in a Greek exit scenario, as long as a collapse of the international financial markets can be avoided. The Swiss research institute says CHF could even weaken against EUR fairly soon after Greece leaves the single currency. "The franc will initially come under increased upward pressure in such a scenario, which will trigger Swiss National Bank intervention, but the floor of CHF1.20 per euro should hold," it adds. ([email protected])
0955 GMT [Dow Jones] BAK Basel Economics expects the SNB's EUR/CHF floor to hold in a Greek exit scenario, as long as a collapse of the international financial markets can be avoided. The Swiss research institute says CHF could even weaken against EUR fairly soon after Greece leaves the single currency. "The franc will initially come under increased upward pressure in such a scenario, which will trigger Swiss National Bank intervention, but the floor of CHF1.20 per euro should hold," it adds. ([email protected])...
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I just read this and i dont believe the euro could strengten against the franc fairly soon after a greek exit.
with spain and italy under the microscope i think these could be very long running trades
I just read this and i dont believe the euro could strengten against the franc fairly soon after a greek exit.
with spain and italy under the microscope i think these could be very long running trades
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yap, agree, we not just need Greek leave, but also for EU to form a strong political and fiscal union to solve Spain and Italy's problem. Who knows how long it will take.
hallo, in the past i get every night 3 $ for 1 Lot for the eur/chf swaps, yesterday i get still 0.20$ for 1Lot. Is it possible that the broker can change the sawap from one day to the other.
And do have anybody the same problem?
My broker is youtradefx
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I had same problem in FxPro and HotForex, both was giving 3$ per lot but 2 months ago HF changed to 0.4 and last week FxPro changed to negative swaps
I felt SNB's strategy to keep the level very close to the floor for such a longe period of time is because they want to drive "both" the longs and shorts away. They want to tell us: go away, leave me alone, nothing is gonna happen......But the only problem is they really dont have the time @ 7mil/minute
