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Jamie's Pick: 05/20/11

Jamie's Pick: 05/20/11

2011-05-20 14:53:00
Jamie Saettele, CMT, Sr. Technical Strategist
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The NZDUSD continues to lead the pack – it is possible that a larger flat or triangle is underway from the May high (the implications in both patterns are for strength close to and possibly just above 8120 before weakness back towards 7750). Near term, favor the upside as long as price is above 7860 – an objective is 8040/50.

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