Forex News – 8th November 2011

CHF cleints received a buying recommendation to buy USDCHF, which is currently
in a profit of more than +65 pips.

What is important to note that SNB Hildebrand is due to speak at 13:20 GMT and ongoing
talks about rasing the floor in EURCHF from 1.20 to 1,.25, possibly even 1.30 is running
in the markets, causing extensive gains in both pairs, EURCHF and USDCHF.

Big buying orders in EURCHF are beginning to mount above 1.2490.

Italy’s confidence vote is due tonight and likely to be the key release for today. The market so far
has been embracing the possibility the current PM will resgin by buying EURUSD.

A lot of uncertainty is in the air when it comes to euro xone but the FC traders seem to note
only a day at the time rather than thinking ahead.

“This is Forex, not chess.”

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