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EUR/CHF

  • #9,461
  • Sep 5, 2012 9:14am Sep 5, 2012 9:14am
eur/chf is finally moving on the ecb bonds buying program announcement rumor...it will keep moving up unless we never hear the announcement. Mr MArket thinks this is the first phase of solving at least some euro zone problems. Hence the relief on the chf. Lets watch the price action to see how things shape up towards the end of the us session.
  • #9,462
  • Sep 5, 2012 9:22am Sep 5, 2012 9:22am
closed another 1/4. EURUSD unable to sustain above 1.26 again..
  • #9,463
  • Sep 5, 2012 9:25am Sep 5, 2012 9:25am
EUR/CHF whipping around on stupid rumor

Written by Adam Button
September 5, 2012 at 14:20 GMT

The flushed out rumor is that the SNB will hike the floor tomorrow at the ECB decision.
I can’t stress enough how stupid that is.
First, it implies that the ECB has already decided what it will do and confirmed it to the SNB.
Second, it implies some wildly EUR-positive decision, when the leaks are nothing of the sort.
Third, it implies that the SNB has leaked the info when, time and time again, they have proven the ability to keep a secret.
Fourth, it implies that the SNB would still follow through on the decision to hike the floor, even though it had been leaked.
I’m sure the SNB would like to hike the peg one day but it won’t be tomorrow and it won’t be with EUR/USD below 1.30 and EUR/JPY below 100.
  • #9,464
  • Sep 5, 2012 9:27am Sep 5, 2012 9:27am
Quoting brinks
EUR/CHF whipping around on stupid rumor

Written by Adam Button
September 5, 2012 at 14:20 GMT

The flushed out rumor is that the SNB will hike the floor tomorrow at the ECB decision.
I can’t stress enough how stupid that is.
First, it implies that the ECB has already decided what it will do and confirmed it to the SNB.
Second, it implies some wildly EUR-positive...
someone's sore he missed out on the rally. in any case, i'm all out.
  • #9,465
  • Sep 5, 2012 9:28am Sep 5, 2012 9:28am
Quoting noobiee
someone's sore he missed out on the rally. in any case, i'm all out.
haha yeah seems that way
  • #9,466
  • Sep 5, 2012 9:28am Sep 5, 2012 9:28am
And what if it's just because of the bon buying program? As I explained earlier I don't think that the reason for the upmove is a rumour linked to a raised floor...It is because Europe finally begins solving its problems...IMO
  • #9,467
  • Sep 5, 2012 9:30am Sep 5, 2012 9:30am
Quoting profitoffx
And what if it's just because of the bon buying program? As I explained earlier I don't think that the reason for the upmove is a rumour linked to a raised floor...It is because Europe finally begins solving its problems...IMO
i hope so i opened a small position yesterday looking for a good close today to add more
  • #9,468
  • Sep 5, 2012 9:31am Sep 5, 2012 9:31am
Quoting brinks
EUR/CHF whipping around on stupid rumor

Written by Adam Button
September 5, 2012 at 14:20 GMT

The flushed out rumor is that the SNB will hike the floor tomorrow at the ECB decision.
I can’t stress enough how stupid that is.
First, it implies that the ECB has already decided what it will do and confirmed it to the SNB.
Second, it implies some wildly EUR-positive...
adam is wrong. not sure where that rumor came from. its the ecb bond buying program rumor that has caused this move.
  • #9,469
  • Sep 5, 2012 9:32am Sep 5, 2012 9:32am
Quoting svtnick
adam is wrong. not sure where that rumor came from. its the ecb bond buying program rumor that has caused this move.
Thats good then
  • #9,470
  • Sep 5, 2012 9:33am Sep 5, 2012 9:33am
http://i.imgur.com/exOfw.png

let's see how this plays out
  • #9,471
  • Sep 5, 2012 9:33am Sep 5, 2012 9:33am
Busted my trailing stop @ 15pips. Stopped @ 1.2028. Small trail stops at 4 pips also out. During such times, cannot use trail stops - very uncertain.

Also closed 2/3 of my positions already avg @ 1.2025. Missed the big 1.2048.
Still have 1/3 positions on, hoping there will be some crazy rumors tomorrow bringing it up to 1.2100.
  • #9,472
  • Sep 5, 2012 9:37am Sep 5, 2012 9:37am
of course merkel comes out against the ecb bond buying plan......ugghh
  • #9,473
  • Sep 5, 2012 9:42am Sep 5, 2012 9:42am
But at least she is now of the opinion that a little bit bond buying is ok. It's clear that she can't say she loves unlimited bond buying because of Weidemann. What do you think? Where will all this lead?
  • #9,474
  • Sep 5, 2012 9:45am Sep 5, 2012 9:45am
Quoting profitoffx
But at least she is now of the opinion that a little bit bond buying is ok. It's clear that she can't say she loves unlimited bond buying because of Weidemann. What do you think? Where will all this lead?

seems a little different this time it isnt being sold off as quickly
  • #9,475
  • Sep 5, 2012 9:47am Sep 5, 2012 9:47am
I think Merkel's response come a bit too rash due to the leaked ECB bond buying info. It's very subjective on she opposing unlimited buying - again what is the quantum of bond buying and what are the restrictions/constrains.
Best to wait till official info is out. But in the meantime I think eurchf will remain above 1.2020 until tomorrow.
  • #9,476
  • Sep 5, 2012 9:47am Sep 5, 2012 9:47am
Quoting profitoffx
But at least she is now of the opinion that a little bit bond buying is ok. It's clear that she can't say she loves unlimited bond buying because of Weidemann. What do you think? Where will all this lead?
it leads to new elections and ultimately germany leaving the EZ

wow he approved my comment lol
  • #9,477
  • Sep 5, 2012 9:50am Sep 5, 2012 9:50am
Quoting brinks
seems a little different this time it isnt being sold off as quickly
You are right... I also see strong support on the 1-min SMA. Can't penetrate below this line yet.
But double peak at 1.2045 shows a resistance.
  • #9,478
  • Sep 5, 2012 9:51am Sep 5, 2012 9:51am
I received this yesterday:

Dear Client,


Over the next few days the Swiss National Bank may take measures to intervene with the exchange rate of the EURCHF. Pepperstone does not offer financial advise but we believe that such an event may result in extreme volatility in the EURCHF currency pair. This in turn may cause the market to "gap" significantly. In light of these conditions foreign exchange providers across the globe are adopting leverage reductions on the EURCHF.


Effective immediately Pepperstone will reduce the standard leverage on EURCHF to 25:1 or (5%). The leverage reduction will be in place until further notice.


If you have open positions on the EURCHF this leverage reduction may cause your margin requirement to increase and you may suffer financial loss. Please ensure that your account is adequately funded to maintain any positions after the change. Please note that failure to do so may incur financial loss. Pepperstone recommends that clients seek professional financial advice on this matter.


Pepperstone looks forward to removing this leverage reduction once the potentially volatile conditions are reduced.

The Pepperstone Team



  • #9,479
  • Sep 5, 2012 10:04am Sep 5, 2012 10:04am
same monthly spike as ever.

the situation in eurozone could only getting worse.
  • #9,480
  • Sep 5, 2012 10:05am Sep 5, 2012 10:05am
I add more shorts with stop at 1,2047. it's not different than other times. Other times simply consolidated in lower levels. No way it can go up. EURUSD neither can
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