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Jamie's Pick: 01/11/12

Jamie's Pick: 01/11/12

Jamie Saettele, CMT, Sr. Technical Strategist

I wrote last night that “structure of the USDOLLAR decline from 10039 suggests a bounce into 9983-10012 before a final drop into 9925 gives way to the next bull leg.” Having reached the upper end of resistance, expect a drop under 9946 to complete the corrective decline from 10039. Expectations would then be for continuation of the long term USDOLLAR bull.

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