AUTOREFRESH 
EUR/CHF rumour
By Gerry Davies || September 1, 2010 at 08:12 GMT
|| 6 comments || Add comment
I’d put this one in the “hard to believe” category, but just to let you know.
Talk a major Swiss commerical bank has been asking their clients to take back shorts in EUR/CHF. Sounds like a load of old cobblers to me.
A source infact tells me, that only yesterday said bank was opining that there was a low risk of a sharp rebound in the cross.
EUR/CHF presently up at 1.2943 from early 1.2900.
I am long on this pair but it does not look very good or poised to recover, at least from a technical point of view.
But I also know that is not very liquid, and therefore subject to quite strong squeezes.
Let’s see, at least 1,2970 – 90 should be hard to breach, but a break of those levels would mean that something interesting is really happening here.
On USDCHF is worth to look 1.02
If regained it would be kind of further confirmation of long CHF liquidation, only a small bounce so far.
well instead of snb , commerical bank came to sell haa…lol, goood day gerry
Francesco i am long on USD/JPY you think it will reach 1.02 today thanks
V. Not very likely.
Morning Ganesh.
Hi V,
as you notice we have USD weakness on the board….so maybe parity is a more reachable target on USDCHF