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

London session review and outlook June 11 - 2012
Review of markets covered in today's edition of Bulls vs. Bears: EUR/USD, GBP/USD, AUD/USD, FTSE100, S&P500, Gold, Brent Crude and WTI.




Regards

Alejandro Zambrano
Currency Strategist | DailyFX Forum (London)
azambrano@fxcm.com

Follow me on twitter: https://twitter.com/AlejandroDFX


Joining DailyFX Forum is free and offers an extended range of features, including: Replying to other peoples' threads and receiving email notification of replies to posts and threads you specify. Click here to join.

I´m feeling this bounce Alejandro

Originally Posted by Alejandro Zambrano

TF: 4h. After double top on strong R + 200 SMA, price pulled back to the bottom of the triangle / 9900 level and is resting there. Meanwhile RSI still in bull country overall (+50)




Wouldn´t surprise me to se a move higher, above 200SMA / 1.0000

Either way I´m defenitely looking to buy some for a short term trade here. Range is big enough.

NZD/USD Could Retest Lows Around 0.7500

Beware of King Dollar: USD/CAD 4-Hour Chart Bull Flag

possible morning star on the 5 minute and two candle close inside 30 minute bollinger band.
will look to take a quick scalp short.

Originally Posted by sdcasper

possible morning star on the 5 minute and two candle close inside 30 minute bollinger band.
will look to take a quick scalp short.

Hello sdcasper. SSI and trend are up for USD/CAD so be careful and don't over stay your welcome as a bear.

I shorted me some Aussie, thinking of letting it ride to 9820 support.

Originally Posted by SkiBunny

I think limiting bank withdrawals in one EU country could have the unintended consequence of inspiring bank runs in some other EU countries where people might fear a similar fate. Because rational people act in anticipation of an event, rather than waiting for the event to occur, especially when it comes to their money.

What I meant about the Spanish bonds is Spain might well recapitalize banks by buying bank bonds, and designate the government senior in rank to existing bondholders, which would devastate the value of existing bank bonds and thereby set off a different crisis. Subordination is a four-letter-word to bondholders. Bruce who usually seems pretty sharp explains it all:

The Subordination in Spain Will Cause Pain | Bruce Krasting

This is a good article indicating that the governments who lent Spain the money are going to want it back, meaning they will have first lein on any assets and first rank to bondholders. It may or may not trigger a credit event by ISDA definition -but you can be sure a lot of bondholders will lose money. it might not devastate the value of existing bonds, but it would result in losses. Banks and institutions which bought Spanish bonds are probably prepared for this. The real question coming up is , will Spain be able to access the credit markets at reasonable rates?
And Now, Spanish CDS

AUD has support at .9850 but once broken it could be a long way down

Originally Posted by Gnarly

I shorted me some Aussie, thinking of letting it ride to 9820 support.

take it from 0.9900 .that is much better

Originally Posted by fahmy313

take it from 0.9900 .that is much better

Mary R, it is strange that I also use netdania but my candles on the daily chart are different and I can't draw a trendline with support at 98.50. What is the reason for this?

Beware of the channel.......

Originally Posted by Luxuriant

nice saw that to, a rising wedge in play, net long the crowd are, i say keep shorting to stay with thee trend

the link to my chart. to lazy to repost lol. http://www.flickr.com/photos/jogoldf...in/photostream

Target for today is 10025. However I am aware this could roll over at the R1 level.........