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Jamie's Pick: 02/09/12

Jamie's Pick: 02/09/12

Jamie Saettele, CMT, Sr. Technical Strategist

Tuesday's outside reversal indicates that the EURAUD decline from the November high may be complete (an objective was just below 12000 but it would be foolish to ignore this reversal evidence) in 5 waves. The implications are for a rally from the current level.

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.