EUR/CHF

here come the sellers

That's right, I almost forgot.
Hey, who wants to buy a cake with the number 1 on it? lol.
I should sing happy birthday!

(At this point I have begun to sing like an idiot, "happy birthday to eurchf 1.2000 currency floor, happy birthday to eurchf currency floor...")

and here come the buyers haha

yeah a bit of a battle going on.

at least it isnt just getting smashed down to 1.20

let's see the foreigh reserves tomorrow...

Double top and down. 1,20 atractor point, just a remind

EURUSD also down

happy bday to floor

happy bday to floor

happy bday dear 1.2 peg

happy bday to u!!!!!!!!!!

every dip is being bought so far qatar

It's pull-pack. I believe the drop now will be very fast to 1,2010. EURCHF is a knife

hope so i can load up long again then

I think it very much depends on what draghi has to say later if he dissapoints then definately back into range

I also hope for a drop ... I'm only buying mini-lots now...
Probably it will be an interesting next week too, with
13.09.2012 09:30
Monetary policy assessment

I think most of us have closed our positions, waiting for a fast drop down to reload again.

It all depends on Draghi now, 2 hours to go...

I have a very clear strategy-buy and hold.This is a long term investment.I have TP at 1.30 (just in case if SNB rises the floor), but i think 1.23 will be good place to exit.

SNB moves its bid up a touch

By Jamie Coleman || September 5, 2012 at 12:31 GMT
|| 1 comment || Add comment
Said to be bidding in its own name, not via the prime broker, at 1.2012, according to market sources. They must mean business this time! http://www.forexlive.com/wp-includes.../icon_wink.gif
EUR/CHF up at 1.2023 on a flurry of short-covering.

Why would the SNB be bidding themselves when they have always used proxies? was it to make a point?

To add a point to discussion, I think now there can be a game changer.

As Jim Rogers said so far the investors were worried about the return OF their money.
Why? Because ECB so far was not acting like a normal central bank, not fulfilling the basic role of "lender of last resort". Thats why Spain and Italy yields are there, and money flow into CHF and other safe assets. Once this is clarified - hopefully now - there can be return to normal mode people will worry about the return ON their money and will go back for higher yield eg Spain Italy bonds. Probably Hundreds of billions as the ECB will fullfill the lender of last resort status, wiping out default risk.

If you are sceptical about that read Paul Krugman nobel prize winner who's almost begging ECB since almost a year to act like all other normal CBs since hundreds of years.
There are also some examples eg Danish and Finnish yield difference, practically the same economic figures but much lowrr yield for Denmark why? Because in default situation Danish have a CB who would act and buy goverment bonds, in worst case. So far ECB was not like that.

Quite fast and good solution for EZ problems with sustainable yields in southern Eu.
Money can go for higher yield from negative yield now(chf)

Good luck bears...

So it was SNB intervention?

apparently so

If some say the retails are all long thats why we dont go up, I think around now most of the retail will close positions and will go short around/above 1207...

1.2038 now, are we heading back to 1.2011? I guess we will see soon when the ECB interest rate decision and then the press conference....

maybe a bit of position adjusting going on