What do you think of EUR/CHF?

[Enivid]

EUR/CHF seem to be trading in a very tight range this week - less than 45 pips up and down. Seems like the SNB's action is working. What do you think of it? Do you have any positions in EUR/CHF? Do you think it would be safe to scalp inside this range?

Some info on this topic:

http://www.snb.ch/en/mmr/reference/p...0110906.en.pdf
http://www.earnforex.com/blog/2011/0...ith-snbs-help/
http://www.earnforex.com/blog/2011/0...-above-1-2000/

[Enivid]

From today's Monetary policy assessment by SNB:

The Swiss National Bank will enforce the minimum exchange rate of CHF 1.20 per euro set on 6 September with the utmost determination. It is prepared to buy foreign currency in unlimited quantities.

http://www.snb.ch/en/mmr/reference/p...10915_1.en.pdf

[Enivid]

Looks like SNB failed and let the currency pair slip below 1.2. It has returned quickly, but that's not what majority of traders would expect after the SNB's promises.

[Fxpipper]

Given the intent, have to say that was a bit surprised by this..guess SNB's promises fell flat after all, so much for it,

[Enivid]

I wouldn't call it falling flat - after all they still keep the pair above 1.2. And that spike below the target level hurt only the speculators' whose stop-losses were hit. SNB's objective is to protect the currency stability for the Swiss exporting companies, not for the short-term traders.

[Fxpipper]

Always did wonder about the short term traders perspective on global cues as opposed to the ones who stay in for the long run..
On that note, what's the longest time-frame [reasonable] you can stay in a trade with roll over?

[Enivid]

Originally Posted by Fxpipper

Always did wonder about the short term traders perspective on global cues as opposed to the ones who stay in for the long run..
On that note, what's the longest time-frame [reasonable] you can stay in a trade with roll over?

Years?

[Fxpipper]

ROTFL, and what about the roll over interest, assuming it's in the green? Do all brokers pay this up as required..
Thanks Envid, have a nice day! Happy Trading!

[Enivid]

I get paid by the broker for my Long EUR/CHF swaps . Can't complain.

[Fxpipper]

Wish I could say the same for my long USD/YEN swaps..sigh, I should at least be glad I am not getting hit on negative interest..