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In their “Monetary policy assessment of 14 March 2013”, the Swiss National Bank (SNB) decided to leave the exchange rate of CHF 1.20 per euro unchanged. The SNB said that “the minimum exchange rate is an important instrument in avoiding an undesirable tightening of monetary conditions. The SNB will therefore enforce this minimum rate with the utmost determination and, if necessary, is prepared to buy foreign currency in unlimited quantities for this purpose.” Last summer the SNB was a key mover of the global forex market. It was known to be buying tens of billions of euros each month, hoping to keep the franc weak to protect its exporters in the face of inflows from spooked overseas investors at the height of the eurozone crisis in May. Rumors abounded among forex investors that the SNB was buying Swedish krona and the Australian dollar. Bankers said there had been days when the SNB was the biggest single buyer of Australian debt. Figures released by the SNB later in the year confirmed the rumors; the proportion of “other” currencies on its balance sheet – the Australian dollar, Swedish krona, Danish krone, Singapore dollar and Korean won – rose. The IMF is considering switching CA…
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Arenoosh avatar
Arenoosh 25 Mar.

thank you for your feedback

Efegen avatar
Efegen 28 Mar.

You were right and you are goin to be right.

Arenoosh avatar
Arenoosh 28 Mar.

@Efegen when I published this article the usd/chf rate was arround 0.9380. If someone went long on this pair after reading my article, now he would have +160 pips and I think by the end of the contest might be +200 pips.

Arenoosh avatar
Arenoosh 28 Mar.

Now I have one more reason to be long USA. Even if, this year, we didn't had a spectacular oil prices evolution we do have something: the gap betwen WTI and BRENT is reducing and that means investors are working with the assumption of a better performance in relative terms of US economy because we all know that WTI is a benchmark for the US while BRENT is a benchmark for Europe and Asia. For 2013 I would be long US stocks, and usd vs G7/G20 currencies.

SpecialFX avatar
SpecialFX 29 Mar.

Very detailed article mixing a lot of different types of analysis, I liked it a lot :)

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Dow Theory ow Theory is a form of Technical Analysis derived from the works of Charles H. Dow, the founder of the wall street journal and Dow Jones Company (now most famously heard of in Dow Jones Industrial Average - The index of the 30 of the largest companies on the NYSE and acts as a benchmark for the world.)It has been around for about 100 years and has been proven to be succesfulDow theory is mainly comprised of different sections which all combine into one trend for the market.Market Movements :The market at any one time is in one of three modes - Primary, Secondary or intra-day.Primary - Primary represents the overall, longer trend which depending can last from many months, to years or even decades. This will either be a "bull" or "bear" market or when a market is rising in price or falling respectively.Once a trend has been established it is in effect until the trend changes, however the longevity of this move is hard - even impossible - to determine.Success, according to some is seen in identifying the primary trend and trading with it.Secondary - These movements of the market are counter primary trend and move against the market for some time but are not changes just m…
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AdrianWS avatar
AdrianWS 27 Jan.

@Quattro - Would you mind gsharing what Currency oair and time frame you are looking at so I can have a look and see if it fits. Thanks.

masterfxtrader avatar

Adrian, I do to someextent agree with Quattro here, I find thi abit outdated and useless, dont get me wrong its a good article and very informative but not really useful anymore in my opinion.

Quattrotrader avatar

Adrian I was looking at pairs Like AUDUSD and EURAUD if that helps.

AdrianWS avatar
AdrianWS 28 Jan.

I think I can see where you are coming from but I think you must be using too small of a time frame, try to go weekly or even monthly and try again, Hope this helps.

Quattrotrader avatar

Ok thanks.

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