FX:EURCHF   Euro / Swiss Franc
278 3 9
English : Bearish target at this week at 1.2000 with maximum target at 1.1980.
If channel down break up, bullish target only at resistance at 1.2046

Indonesian : Bearish target pada minggu ini berada dilevel 1.2000 dengan maximum target pada 1.1980
Apabila terjadi break channel down, maka target pada resistance di level 1.2046

Analisa minggu lalu (last week analysis) :
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Hi Dian, I just want to mentioned that there is a floor for the EURCHF pair at 1.2000, the price cant go lower as the Swiss national bank has set that as a minimum price.
+3 Reply
Hi Luay. What if some one like (Goerge Soros) start to buy CHF, and create something similar to black Wednesday. This level is very tempting because of the gap it offers down the level.
Kumowizard HamedAghajani
I think it all depends on SNB. They made it clear they do not really want to release the floor. On the strong side theoretically it is almost impossible to beat a central bank, as they can print as much CHF as they wish. The only thing that could force them to cancel the floor is if the on 30/Nov the referendum on Gold reserves will be positive. Still that would take some time until SNB makes a step as then they would have to reconcider all their monetary policy tools. They do not have debt, so no sufficient bonds to be monetized, so QE is not an option for them. They could still cut the depo rate into more negative.
As Mr Jordan said for the swiss economy it was never a problem to have low gold reserves but it would be a problem to have a too strong currency.
My view is that until 30/Nov the floor is not in danger. So it is quite safe to sell 1,2000 Put options until that value date. Later it will be an interesting question.
+1 Reply
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