{"id":12592,"date":"2012-07-02T13:18:22","date_gmt":"2012-07-02T17:18:22","guid":{"rendered":"http:\/\/drduru.com\/onetwentytwo\/?p=12592"},"modified":"2012-07-02T13:18:22","modified_gmt":"2012-07-02T17:18:22","slug":"franc-refuses-to-confirm-fresh-euro-optimism","status":"publish","type":"post","link":"https:\/\/drduru.com\/onetwentytwo\/2012\/07\/02\/franc-refuses-to-confirm-fresh-euro-optimism\/","title":{"rendered":"Swiss Franc Refuses To Confirm Fresh Euro-Optimism"},"content":{"rendered":"

(This is an excerpt from an article I originally published on Seeking Alpha on July 1, 2012. Click here to read the entire piece<\/a>.)<\/strong><\/p>\n

On Thursday, June 28th, Swiss National Bank (SNB) vice chairman Jean-Pierre Danthine repeated a claim made consistently by the SNB: at 1.20 the Swiss franc is overvalued relative to the euro<\/a>. So, one would think that on a day when the euro (FXE) surges in response to surprise progress from the 19th European Summit<\/a>, the EUR\/CHF currency pair would finally get a lift. Quite the contrary. While EUR\/CHF did nudge upward slightly to start the day on Friday, June 29th, the currency pair closed at its lowest point since the SNB established the 1.20 floor last September.<\/p>\n


\n
\"EUR\/CHF<\/a>
EUR\/CHF is again on the verge of challenging the 1.20 floor<\/figcaption><\/figure>
\n
\n
\"As<\/a>
As the U.S. stock market opened for trading, the small gains in EUR\/CHF were wiped out in two hours<\/figcaption><\/figure>
\nSource for charts: FreeStockCharts.com<\/a><\/strong>
\n<\/center><\/p>\n

I have stated before that euro-optimism must be tempered until the “fat franc flies.<\/a>” I think that remains the case. {snip}<\/p>\n

Be careful out there!<\/p>\n

(This is an excerpt from an article I originally published on Seeking Alpha on July 1, 2012. Click here to read the entire piece<\/a>.)<\/strong><\/p>\n

Full disclosure: long EUR\/CHF<\/p>\n","protected":false},"excerpt":{"rendered":"

(This is an excerpt from an article I originally published on Seeking Alpha on July 1, 2012. Click here to read the entire piece.) On Thursday, June 28th, Swiss National Bank (SNB) vice chairman Jean-Pierre Danthine repeated a claim made consistently by the SNB: at 1.20 the Swiss franc is overvalued relative to the euro. … Read more<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[794,20,511,990,62],"tags":[385,28,333,334,1597],"class_list":["post-12592","post","type-post","status-publish","format-standard","hentry","category-europe","category-forex","category-support","category-switzerland","category-technical-analysis","tag-eurchf","tag-euro","tag-swiss-franc","tag-swiss-national-bank","tag-technical-analysis"],"yoast_head":"\nSwiss Franc Refuses To Confirm Fresh Euro-Optimism - ONE-TWENTY TWO: Trading Financial Markets<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/drduru.com\/onetwentytwo\/2012\/07\/02\/franc-refuses-to-confirm-fresh-euro-optimism\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Swiss Franc Refuses To Confirm Fresh Euro-Optimism - ONE-TWENTY TWO: Trading Financial Markets\" \/>\n<meta property=\"og:description\" content=\"(This is an excerpt from an article I originally published on Seeking Alpha on July 1, 2012. 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