EUR/CHF

if I want to be very optimistic the daily looks like a giant bullflag.
still chances are quite high to revisit 1,218

it's below 50 % fibonacci... good night...

nice daily candle forming. lets see if it closes like that.

waiting for a new breakdown... Maybe below 1.23 this time.

Yes, agree with you that there will be a breakdown due to uncertain EU/EZ fundamentals. Everything seems ok for the EZ members now, but just look at the fragile economy. Rating agencies are downgrading some economies - Cyprus for example. Greece 'looks ok' but is fragile, so is Spain etc.

I believe EFSF & ESM is temporarily seen as 'successful', but in the long run (say 6mths time), we cannot tell.

Another thing - CHF is now the No.1 safe haven in the world. Given JPY weakness & USD uncertainty, can anyone else think of a better safe haven than CHF?

.... just my 2 cents

Time to start reloading I guess..
1.2319

good luck, dont get killed.

now it is better

Think Ill add couple of longs at 1.2210/20 if it gets there and then start adding more at 1.215 with stops for all trades at 1.198

I'm seriously in now
Just wait for 100 or so pips ups now

Here is the reason why I think 1.2210/20 will provide a buying opportunity. I often observe that after a significant move, price bounces off EMA14 quite nicely (example attached EURCHF daily chart) on the first touch, and sometimes the trend continues

also in adding mode...lets see if PA can bring us 1,217-1,222

Swiss December Trade Balance 1.00Bn (vs. 2.0Bn expected)

Written by Eamonn Sheridan
February 5, 2013 at 07:00 GMT

 

1. November was 2.91BN ( revised from 2.95B CHF)
2. December Exports -1.5% (November was +5.5%, revised from +6.0%)
3. December Imports +5.5% (November was +4.5%, revised from +0.2%)

Hi,

I come from Malaysia, my trading account has been charged by Instaforex about USD4000 for swap correction for EUR/CHF(hold for 8 months), just becos I am winning their money. After I argue with Instaforex department, I got reply below. I been change my trading account from non-islamic to swap free account while they giving swap from 0.2 to -0.3. Also, I have asked the live chat, the support said can change to swap free account in client cabinet. Now the instaforex ask me do I have the Proof to show. Plz help me if you have evident, as I read past review that Alaneth has such prove rite. Thanks

Dear Client,


Correction has been performed according to the paragraph 6 of the Swap-Free Trading Account Use Agreement:

6. The Сompany reserves the right to remove the Customer's sub-account from Swap-free group to the one with simple accounts and to correct unaccrued swaps for the period of standing in Swap-free group in case of abusive acts detection.

If you have any questions please do not hesitate to contact us in future.
Thank you for your letter.


Sincerely yours, Dealing department
InstaForex Companies Group
http://instaforex.com


From Alaneth,

Got a nasty surprise from my broker... (Instaforex)

Previously I get EUR 0.20 swap per lot. Now it went to negative -0.3 points.
Wrote to them to ask why & they replied below.....

Dear Client,

Swap rate for eur/chf has been changed due to current conjuncture
situation on this currency pair. You can change your account to Swap
free in your Client Cabinet, Personal information section after all
current positions are closed. If you have any questions please do not
hesitate to contact us in future. Thank you for your letter.

Sincerely yours, Client Service

really bad data, maybe a direct hit from the stellar USD/CHF rate...? come on jordan put a floor under usd/chf
meanwhile missed adding yet, still @50% l

Time to sell I think.
I'll keep part of the positions but wait for a new breakdown, maybe down to 1.22 this time...

1.232
Probably to early to buy again, but I'll load some before Thursday data...

Hello , anyone know what happened with CHF today right after europe market time open ? Any news or events on CHF that effected it so much ? Thanks .

It's a pity that some brokers have to resort to this.
From the clause, they have a right to do so to you and you can't do anything, unless you can :
1. Prove that you are not taking advantage of what others call (negative carry trade hedging on a swap-free account), that's to say you are just trading this pair as a strategy and logically the broker has made money from the actual positive swaps from long EURCHF that they have unfortunately changed to negative to prevent many long positions.

2. Easier if you are a Muslim (if you have a Muslim name) and prove to them that due to your faith, you do not agree with swap.


But I can foretell that this may be difficult to do.

It's best to have a basket of brokers, just like I do - Don't put all your funds in one or two brokers. I trade EURCHF in 4 different brokers, and if one of them plays funny, I just move my funds away from them.
There are hundreds of brokers out there and some new ones are from the Middle East - they are swap free and won't argue with you whatever you do. But given what brokers do during the floor testing time last year, some resorted to reducing leverage drastically etc.

So just open in a variety of brokers.

Hi Alaneth,


tq very much on ur advices. I have learned an experience.