CHF

good morning traders and self appointed professors...

from trading standpoint:
Continuing long usd/chf from 77.10 (11) stop moved to 78.42.
current rate 78.93

possible take 1/2 profit soon and add on dips at 78.00
will post...

g'morning to jamkids...and TZ....
---------------

wahtcha think subio,Dave,digi?
any hookah signalz...
adios muchachos

Don't think this is significant. Ezone debt crisis is unresolved, unless Eurobonds will be agreed upon. Further SNB has burned billions thus that pensions are endangered. The SNB can hardly dare to sink more billions in interventions.
I think the present exchange around 1.1 is the most SNB can achieve. This will only change if EUR strengthens and the only means is issue of Eurobonds.

careful with rumors. From strength monitor it appears the decline of CHF rs halts. No selling of CHF in London trade.

the rumors spread by Zuricher Zeitung and Sonntagszeitung from switzerland, both very important publications for fx and gold traders, have now reached London

SNB and Swiss government in talks over EUR/CHF target. Lobby group Economiesuisse is pushing for a floor of 1.1000-1.1500, while the Swiss Federation of Trade Unions aims at level of 1.4000. The article notes that the SNB may initially target level that is slightly above 1.1000.

SNB and govt talks are not officially confirmed. It is still rumor.

Thus CHF crosses are now trades for professionals much profit there to be made.

Interesting story about secret meetings SNB today in Neue Zuricher Zeitung.
The content is beyond chart astrology ... negative rates in short term bonds drop in 3 mon LIBOR , currency swaps, SNB buys Swiss bonds ( increasing liquidity )... all of these are very new measures . But the facts remains that banks and funds won't buy Euro and further that an estimated 800 bln CHF tax evasion money ( 500 bln from Russia) will not be changed to USD and for sure neither in EUR nor in RUB.
It was only one SNB member Thomas Jordan who brought up the idea CHF peg to EUR.
Rumors are that by next wednesday SNB will announce a lower limit to EURCHF of 1,30 CHF for 1 EUR. Question is how will SNB achieve that? SNB sits on 22 bln losses from interventions.
Very obvious is, should SNB confirm a peg to EUR at EURCHF 1,30 markets will test that.
And according to NZZ SNB will only buy foreign currency for CHF 200 bln. Thats not much.

Thus consequence: EURCHF can as well head for 1.2 and for 1.0