Jamie's Pick: 02/07/11
The EURUSD has reached its 20 day average and the next level of potential support is former resistance at 13456. However, short term wave structure indicates the potential for a sharp decline in a small 3rd wave as long as price remains below 13627. Near term objectives are Fibonacci extensions at 13308 (100%) and 13112 (161.8%). Former support at 13244 is also of interest. If pop above 13627 would probably complete a flat (resistance would be 13678).
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