Forex rebates on every trade - win or lose!

Are you young, single and available? I am in my "demo" account :-)

chartist - Have a go at Monopoly, more challenging mate and guess what your not using real money either, fabulous eh!

Hi Skinny

Just got back from holiday - if you mean Aaron off the BBC - no, in person he is good fun and always enthusiastic. Breath of fresh air on what can often be a dull subject.

All you need to do now, chartist2004, is find a virtual garage to take those virtual pounds and you can drive off in your virtual Maserati Gran Turismo, powered by unicorn farts.

FO!!

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ttt

Hiltops has brought this little "Gordon Brown" moment to my attention:

Swiss National Bank sets minimum exchange rate at CHF 1.20 per euro

The current massive overvaluation of the Swiss franc poses an acute threat to the Swiss economy and carries the risk of a deflationary development.
The Swiss National Bank (SNB) is therefore aiming for a substantial and sustained weakening of the Swiss franc. With immediate effect, it will no longer tolerate a EUR/CHF exchange rate below the minimum rate of CHF 1.20. The SNB will enforce this minimum rate with the utmost determination and is prepared to buy foreign currency in unlimited quantities.
Even at a rate of CHF 1.20 per euro, the Swiss franc is still high and should continue to weaken over time. If the economic outlook and deflationary risks so require, the SNB will take further measures.

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Thanks you Skinny. I keep this in my favourites list in case it gets lost.

Wrt post 10989 re Swiss National Bank tying their currency to the Euro - have they run out of intervention cash yet?

Fascinating to find a country saddling themselves with the inverse problem to Greece.

Or is it me that's stupid?

Nope its definitley them MM

Well it was true a month ago when SC posted it :-)

1. They're still buying
2. They're supposedly using leverage to extend their Euro purchasing power
3. There's rumour of the bar being raised to 1.25
4. There's a falling resistance line going back to 2009 which is currently around 1.2530 and the gnomes are buying below it

Swiss central bank may be intervening via FX options and SNB May Have Sold 10-11 Billion Francs for Euros, Banks Say

How are you your majesty :-) Are you playing VOD with me again?

Hils - what's up with your Diesel Coffee Machine!

Posted this on the FTSE thread, might as well post it here as well.

For anyone interested in FX, Cable pierced a resistance downtrend this evening (a trend established between August and October).

It's dropped back below by a few pips, but the chart set up, higher highs, lower lows, consolidation within an uptrend since Oct 26 and pushing through resistance (albeit briefly) would suggest the pair is about to push on. Initial target 1.66

Health warning: I struggle to get my TA right with FX so please DYOR etc etc.

Edit: I should also add that perhaps the wary will wait for 1.6150 to be breached with some impetus before taking a long position.

PT - thanks for the observation.

No worries Skinny; not sure it isn't going to break through down the support trend line established since Nov 3rd, having not made any progress overnight.

FX never seems to follow TA in the same way shares do, which is what I guess makes it so difficult to trade.

Edit: Oh, what a surprise, it's broken down instead!

I can just about guarantee if I ever post any TA on FX I am invariably proven wrong. Seems we're back in the sideways trading range between 15850 and 16150 and there is always the possiblity of a break below the support level. The problem with trying to second guess breakouts, sometimes it goes a little awry :-(