EUR/CHF

SNB very stupid to imagine even if for an instant that EC can go up, and Swiss Franc depreciate normally with no action from its side. They hadn't yet learn from BOJ UJ experience.

I believe SNB will be obliged to intervene before 11 December meeting. Lets hope we'll have open positions by then.
Anyway, I still have at 1.2103. Scalped the 1.2060s talked about in my previous post and continuing...
SNB and the market keeping it here then spiking better for me, despite relying on the SNB negative rates hints was a failure.
EC bulls were madly making profits from scalping EC in the past and this week before SNB Meeting.
Now instead of trading on full lots possible, am doing on half the amount that will increase as EC nears the peg but with the 1.2103 Super Super Heavy Long could had used the lots to enter from current market levels.

SNB is a loss loss Bank. I felt must close as always at 1.2110/15, could had entered another one at same price before SNB decision by few moments for same 1.2110/15 profit, but since SNB Meeting is rare to occur, said lets bet for this day, at worst the risk is known floating loss until return to the entry price or more.

Quote that had always been proven right: Take what's in hand better than living in the illusion of bigger profits.

Never bet on the SNB Decision.

That's a big bar down today. No real pin just solid. Price has sat on S2 for hours and not moved.

What is support and strong support?

Being so close to the peg I think it does not make much sense talking about support. However 1.2057 has been virtually unpenetrable so far.

1.20 and zero

Only way out of this tie is to press SNB against 1.2000

Went long again near to the bottom of today.
All it takes is for the big players to realize that they have little to gain from keep selling, as it has demonstrated it can rise strong based on rumors only.

Free capital flow
Free monetary policy
Fixed interest rate.....

I have been thinking why it seems at this moment SNB was able to have all three of them?
Why?

This is because the SNB is using OUR money and confidence to defend their position. Again i need to reiterate my disappointment in SNB cos it seems they are a bunch of overly conservative and slightly arrogant people. Their interest rate decision really made me rethink how evil SNB actually is by burning retail investors money and hedge fund trust to defend their position instead of using appropriate capital control or monetary tools.

Very very evil of them.
There are views saying they believe SNB wont take agressive action until it reaches 1.2000. If this is true, for all of those who are buying at this level or planning to buy at 1.2050 or 20 etc. Think carefully because you are just donating your money to SNB to help them build its shield while you suffer negative swap rate. And sadly when this huge shield finally gives in to the bear trend and EC been pushed to 1.2010 confidence can deteriorate and all of a sudden this shield could break down in seconds, reversing its position and push EC lower.

I wish all EC bull good luck but im not buying until it hits the floor and see how SNB reacts. In my opinion a retest of the floor is a must because of the laid back, passive and arrogant mentality of our dearest SNB.

Doesn't look like the market wants to beat EC further down. Very tight range today and indicating that the movement yesterday was just from the short term trader who closed their positions as there was no cut in interest rate.
Will be an interesting next week, maybe we see another attack on the 1,2115 area.

Going nowhere fast I see.

3 days in a 10 pip range.... all the while negative swap rates eating into P&L like cancer into a patient

So whats your intension to say. You'd like to go short instead?

At my broker it's just 20 cents per standard lot, doesn't hurt.

We don´t need go below 1.2, we just need to be between 1.203 and 1.21 one-two years, SNB will just wait and trade their 200 mld. EUR with bonds and stocks, long retail in eurchf will be killed by negative swaps, so big guys will have their money, SNB will be ok, bigones also.
Be rational, give me reason, why we will go to 1,22 or 1,25, during next year??
I´m leaving this forum, I expect eurusd parity in 2016, USDJPY 120 next year and maybe gold at 1000
Bye guys. I´m closing all my shorts, I don´t belive we need go below 1.2 anymore.

SNB’S JORDAN COMMENTS IN SPEECH IN ST. GALLEN, SWITZERLAND

- Can Take Further Measures Immediately If Necessary
- FRANC STILL HIGHLY VALUED
- WILL DEFEND CAP WITH UTMOST DETERMINATION

4 pip rise on the SNB's comments which have now mostly come back. In other words, the market doesn't give a crap about Jordan's utmost nonsense. All talk and no action is all I see from the SNB and the market also has the same impression.

"we need" ??? Below 1.20 ? You would need to be SNB chairman to decide on that, I don't think you are?
Any why expressing such anger to the forum ? If you had took shorts you could enjoy the profit and leave without the need for coming here speaking like Zarathustra.

Thank you for this informations Caa !

Price won't go anywhere soon until SNB clear its intention.

Seem very clear to me. Defend cap as announced if and when it will be needed. That is, not now.

Bulletin at 1pm GMT may drive this pair