Thread: Discuss the AUD/USD, NZD/USD , USD/CAD and more

Originally Posted by Alejandro Zambrano

Its looks like we are getting ready to reach 9850

This is where we should expect a swing back down south?

DailyFX Plus Speculative Sentiment Index for 5/23/2012

Hello Traders! Dollar and Yen retail bullishness continues which is a contrarian indicator pointing to more Euro losses.

A better new home sales number from the US did nothing for risk appetite currency pairs.

Have a great trading day!

long from 0.9700

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sold the developing bearflag

Despite today's sell off we really haven't seen the big spike up in the VIX which accompanied the more recent market bottoms and reversals. Plus, the SSI shows that a lot of people are trying to pick the bottom so I would hesitate going long here. Nothing goes up or down in a straight line of course.

Interestingly, the intrade futures are showing a 42% chance that any country using the Euro would announce its intentions to drop it this year. So you could make a case that the markets really don't expect a Greek exit or any other sovereign exit.

Originally Posted by root-minus

sold the developing bearflag

booked some, secured

Originally Posted by fahmy313

long from 0.9700

I have noticed that you usually open several positions do you have a special system for this ? I mean when do you add and when do you subtract?

Originally Posted by Mary R

Interestingly, the intrade futures are showing a 42% chance that any country using the Euro would announce its intentions to drop it this year. So you could make a case that the markets really don't expect a Greek exit or any other sovereign exit.

Interesting but I don't really understand - do you have more info on this?

Originally Posted by root-minus

booked some, secured

tg achieved, leaving a position running

Originally Posted by Uber FX nUblet7

This is where we should expect a swing back down south?

Hi sorry for the late reply - I was at the office for just 3 hours today. Yes I think it will make a good entry for short - if you take a look at stock markets they are rebounding well now. which can hopefully lift us to this sweet spot

Originally Posted by root-minus

tg achieved, leaving a position running

Hello Root-minus,

I think it would be good if you could write what time frame you are looking at and which asset - sometimes its very hard to see what we are looking at

Originally Posted by Alejandro Zambrano

Interesting but I don't really understand - do you have more info on this?

Not really. You can go to intrade.com and see how people are trading futures on events like political elections. It's fairly accurate for events like the US presidential election but I don't even know if you could accurately gauge the probability of a country to stop using the euro. Volumes on intrade are higher than on the NYSE now so it is a large market

Originally Posted by Alejandro Zambrano

Hello Root-minus,

I think it would be good if you could write what time frame you are looking at and which asset - sometimes its very hard to see what we are looking at

yes, will do. Noticed the charts can be difficult to make out, colour schemes etc

Originally Posted by Mary R

the political situation in the EU is very fluid...ultimately I think they'll be able to pull it together at the last minute but its going to be dicey until they do so.

Well they say necessity is the mother of invention. It is like a game of russian roulette to see who blinks first. If none do, then they blow their heads off together.