USDJPY - The trap for yen longs has been laid - https://mninews.deutsche...new-tools-cope-high-yen

Meanwhile USDCNY set at record high by PBOC - 6.3883.

Currency Intervention not Working? Time for a New Approach!

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No more zero calorie dollars please!! Just basics; to expand we have to contract (austerity).

Anybody noticed the EURUSD has been in consolidation since May 2011 despite panic central. This sideways action has created a large triangle for months.
EURUSD has quietly fallen 400pips for the week since topping 1.45s. At the current spot 1.41 it is testing the lower triangle line.
When 1.4050 breaks down, the breakout plunge will be huge. Caution trading this pair until the triangle is resolved - up or down. This will comfirm if its time for euro bears or bulls to take control for the month.

Me thinks it'll be a sizable plunge from the EURCHF moves, down almost 600 pips for the week.

http://www.dailyfx.com/real_time_news/
SNB sets minimum exchange rate at 1.20 EURO and result was 1000+ pip rally within minutes!!!

i caught 178 pips.anyone else profit from that rally?

EURCHF up 1big figure for the day as well as GBPCHF!!!

Almost all swissie cross up 9% for the day.

As you are aware SNB has decided to do what I have been expecting them to do since last month. They've brought on the battle field a tomahawk launcher after spending all their bazooka ammo... CHF bulls time to run away. CHF longs will get a huge squeeze here.

Will their resolve to hold EURCHF above 1.20 sustain before the end of the year? SNB has had a number of bazooka CHF shots since 2009, there was 1.50 then 1.30 and now 1.20... The former two floors were emphatically broken down by Mr. Market. So will 1.20 survive.

For now, CHF carry trade is confirmed. AUD, NZD, GBP will be most profitable as the excessive months of overselling gets reset.

Gold bulls - caution!

Happy trading...

@Cde- our CBR is already higher than the G10 currencies interest rates!?

Btw with the USDCHF having tested 0.8550, this now opens up the possibility of turning this cross bullish for months to come aiming 0.9300 before parity is tested.

I'm snooping on AUDCHF, NZDCHF, GBPCHF and CADCHF to see how to play them in coming months.

EURUSD - below 1.4050... The triangle has broken and it has test a low of 1.3970. If it closes below 1.3940 today, downside risks will be confirmed...

With SNB putting the ante up and shouting to all the EURCHF cross bears that a "DNT - don't touch - floor will be maintained at 1.20, at least if EMU goes kaboom with defaults, one can sell those crappy euros to SNB...