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EUR/CHF

  • #12,501
  • Oct 16, 2014 5:45am Oct 16, 2014 5:45am
Buyers will come in around 1.2050,
All posts are my personal opinion
  • #12,502
  • Oct 16, 2014 6:19am Oct 16, 2014 6:19am
Euro exchanges are suspending trading on many stocks, that doesn't help either the pair to pick up.
  • #12,503
  • Oct 16, 2014 6:59am Oct 16, 2014 6:59am
Quoting Paz
Euro exchanges are suspending trading on many stocks, that doesn't help either the pair to pick up.
Copy the link here please.
  • #12,504
  • Oct 16, 2014 7:19am Oct 16, 2014 7:19am
Quoting Fana
{quote} Copy the link here please.
Links for stock market ??? Check Bloomberg, Reuters or even your national newspaper.
  • #12,505
  • Oct 16, 2014 11:40am Oct 16, 2014 11:40am
Quoting mamalujo
{quote} I guess I should adjust my tp n sl then.
Just exited my super longs @ 1.2075 for 10pips, dat 200sma on 30min tf is stalling it for now and I don't wanna see my profits reverse given how slow this pair moves.
  • #12,506
  • Oct 16, 2014 12:35pm Oct 16, 2014 12:35pm
Quoting mamalujo
{quote} Just exited my super longs @ 1.2075 for 10pips, dat 200sma on 30min tf is stalling it for now and I don't wanna see my profits reverse given how slow this pair moves.
Done exactly the same here. Well executed.
  • #12,507
  • Oct 16, 2014 1:27pm Oct 16, 2014 1:27pm
Quoting Paz
{quote} Done exactly the same here. Well executed.
  • #12,508
  • Oct 16, 2014 1:44pm Oct 16, 2014 1:44pm
Quoting mamalujo
{quote}
what is super size?
  • #12,509
  • Oct 16, 2014 3:31pm Oct 16, 2014 3:31pm
Quoting duderoo1
{quote} what is super size?
Anything larger than regular size.
  • #12,510
  • Oct 16, 2014 4:09pm Oct 16, 2014 4:09pm
Could someone kindly shed some light on the gold referendum story?

As bearish as I could be on EC, I don't really see a reason a YES vote will cause EC to drop?

Indeed I don't even seem to 100% grasp the whole concept of this 20% gold in reserve thing...

As long as SNB does not declare a fixed exchange rate between CHF and gold, CHF is completely still fiat. The SNB could print as much money as they want in CHF and buy gold which means... EUR/CHF could still be held above 1.2000 while XAU/CHF will soar?

Am I mssing something?
  • #12,511
  • Oct 16, 2014 5:34pm Oct 16, 2014 5:34pm
Quoting uslfd
Could someone kindly shed some light on the gold referendum story? As bearish as I could be on EC, I don't really see a reason a YES vote will cause EC to drop? Indeed I don't even seem to 100% grasp the whole concept of this 20% gold in reserve thing... As long as SNB does not declare a fixed exchange rate between CHF and gold, CHF is completely still fiat. The SNB could print as much money as they want in CHF and buy gold which means... EUR/CHF could still be held above 1.2000 while XAU/CHF will soar? Am I mssing something?
Well, I think not even the poll proponents fully understand what is that they want. They can't "print" francs to buy gold:

gold not enough -> buy more -> buy dollars to pay for it -> pay dollars with francs (don't have much else) -> francs becomes scarce -> cannot print more because it would loose value and not buy enough dollars -> also needs francs in switzerland -> buy them back -> oh, their price is higher now, just like gold price -> cannot sell gold to pay for francs -> boom.
  • #12,512
  • Oct 17, 2014 1:56am Oct 17, 2014 1:56am
Before some started trashing nonsense about Swiss Gold referendum, had you asked yourselves did SNB or Jordan mention anything related to it that a Yes vote implies removal of EC floor!?!!

Someone created this useless equation that have nothing to do with reality. Maybe read some ignorant guy's article or something and spread the myth on the net!!!

Here we go, just announced yesterday the sureness of 1.2050s powerful support and we are today 20 pips above, I expect too 1.2083 to 1.2090 today if not more......

At worst, back to 1.2060s and longing more and more again
Trade according to current market condition, not what you think would be.
  • #12,513
  • Oct 17, 2014 2:15am Oct 17, 2014 2:15am
Quoting Paz
{quote} Well, I think not even the poll proponents fully understand what is that they want. They can't "print" francs to buy gold: gold not enough -> buy more -> buy dollars to pay for it -> pay dollars with francs (don't have much else) -> francs becomes scarce -> cannot print more because it would loose value and not buy enough dollars -> also needs francs in switzerland -> buy them back -> oh, their price is higher now, just like gold price -> cannot sell gold to pay for francs -> boom.
Theoretically is possible everything. But look at that Gold stone shops... investing Gold etc... The ownwrs ot that system just trying people to buy Gold for long term. Why? It is probable that Golg will go down to the future from this observation. Another thing is, that Gold can be possibly taken from the oceans. It is only a matter of technology and time. That is some information about Switzerland and Gold. I read it only as +to instability and chaos in Switzerland(If there is some kond of humanistic chaos:-). Thats small minus for CHF.

Switzerland is inside EU. They possibly cant hold such pressure more. They will give account information of their clients to European Union in the not so far future.

They even told already, they have problems with strong currency. So they warned and apologies to their investors, as far as Switz is financial giant. Naturally, they dont want to spoil their name as well.

Just before some time, this should end with "That was my 2cents". What is being used now?:-). Thank you
  • #12,514
  • Oct 17, 2014 3:43am Oct 17, 2014 3:43am
Quoting duderoo1
{quote} what is super size?
10lots, but I also added another 1 lot @ 2057when it dropped below 2060. So altogether twas 11lots.
  • #12,515
  • Oct 17, 2014 3:47am Oct 17, 2014 3:47am
Quoting J.Clinton
Before some started trashing nonsense about Swiss Gold referendum, had you asked yourselves did SNB or Jordan mention anything related to it that a Yes vote implies removal of EC floor!?!! Someone created this useless equation that have nothing to do with reality. Maybe read some ignorant guy's article or something and spread the myth on the net!!! Here we go, just announced yesterday the sureness of 1.2050s powerful support and we are today 20 pips above, I expect too 1.2083 to 1.2090 today if not more...... At worst, back to 1.2060s and longing...
I'd prefer it drops to 2060 ish so I can take another long
  • #12,516
  • Oct 17, 2014 4:01am Oct 17, 2014 4:01am
Quoting uslfd
Could someone kindly shed some light on the gold referendum story? As bearish as I could be on EC, I don't really see a reason a YES vote will cause EC to drop? Indeed I don't even seem to 100% grasp the whole concept of this 20% gold in reserve thing... As long as SNB does not declare a fixed exchange rate between CHF and gold, CHF is completely still fiat. The SNB could print as much money as they want in CHF and buy gold which means... EUR/CHF could still be held above 1.2000 while XAU/CHF will soar? Am I mssing something?
"As long as SNB does not declare a fixed exchange rate between CHF and gold"

20% minimum gold reserves means CHF value = higher than 20% of gold value
This puts a floor on the CHF value compared to Gold.

Do you realize what you say ? You are just meaning that SNB could buy so much Gold that they would back all EUROS with 20% minimum Gold too
There would be an AMAZINGLY HUGE pressure on the 1.20 EUR/CHF floor, they would print more CHF to buy more EUR and at the same time print again more CHF to buy GOLD to meet the minimum 20% Gold reserves (or maybe they could use EUR to buy the Gold, wouldn't change the problem)

Do you realize that Gold is limited ? I invite you to do some research of how much gold has ever been mined in all the history of our world, it's not that much.

In a fiat world, you can print as much as you want. Physical Gold isn't THAT world ...

You know what: In theory, if gold supply was unlimited, the SNB could enforce the 1.20 EUR/CHF floor and the price of Gold would adjust lower to respect the numbers. That "works" until the whole thing explodes. I even suspect that this is already happening NOW: CHF is seen as a "safe heaven", like gold, and there is some correlation beetween the 2. By pushing the value of CHF down, the SNB may already be pushing the price of Gold down because some arbitragers consider that CHF is an "as good" safe heaven as gold and if CHF is cheaper, arbitrage Gold for CHF.

Compare a little the prices of Gold and CHF. And a pretty amazing thing: The Gold hit its top at above 1800 USD and went down at the exact time when the SNB started the EUR/CHF floor. Do you believe this is a coincidence ?

With a "YES" to the referendum, I am ready to bet everything I have that the floor can't last very long, even if they decide to try to keep it.
And even without that referendum thing, the floor may have to come to an end at one moment or another. Fair value of 1.30 or 1 ???
We seem to enter again a period of trouble for the EuroZone and the Euro on top of that.

And just for Gold "haters": 1 oz of gold costs currently more than 750USD to be mined from the ground. It is real work and real costs, not like pressing a button to create fiat currency. As for the cost to get gold from the bottoms of oceans: Pfiou ...

Now, all this is my opinion and is only here to think about. I don't want to convince anybody. You do as you want, and you may end up right.
  • #12,517
  • Oct 17, 2014 4:04am Oct 17, 2014 4:04am
Quoting Fana
{quote} Theoretically is possible everything. But look at that Gold stone shops... investing Gold etc... The ownwrs ot that system just trying people to buy Gold for long term. Why? It is probable that Golg will go down to the future from this observation.

Sure
Why hold a real asset when you can hold some paper backed by governement debt ? That's a no brainer, lol.
Fiat currencies can only go to the moon in value, it's not like they were "created" just with the click of a button... Or are they ???
  • #12,518
  • Oct 17, 2014 4:30am Oct 17, 2014 4:30am
Quoting Mevo
{quote} Sure Why hold a real asset when you can hold some paper backed by governement debt ? That's a no brainer, lol. Fiat currencies can only go to the moon in value, it's not like they were "created" just with the click of a button... Or are they ???
I dont like answers as questions... What country are you? I agree+/-, your article is interesting. But "what has the priority".
  • #12,519
  • Oct 17, 2014 4:38am Oct 17, 2014 4:38am
Quoting mamalujo
{quote} 10lots, but I also added another 1 lot @ 2057when it dropped below 2060. So altogether twas 11lots.
Wow.
  • #12,520
  • Oct 17, 2014 4:48am Oct 17, 2014 4:48am
Quoting Fana
{quote} I dont like answers as questions... What country are you? I agree+/-, your article is interesting. But "what has the priority".
I like questions. It points something out and invites you to think about it, and tells you not to take an affirmation for granted as if it was the absolute truth.

What do you mean about "priority" ?
You're talking about time horizon ? What you think will happen in the short term vs long term ?
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