Jamie's Pick: 03/05/12
An AUDUSD short was taken last week (Thursday) on the break of the Asian session low (10785). The stop was 10820 but can be moved to breakeven now. A short term objective is 10650 but the false bullish break on Wednesday is a classic trap that will most likely be resolved with a sharp decline and a run on stops under 10595. A break would target 10525 and 10450. I'll be looking to sell rallies above 10700 even if the initial 10650 objective is not reached.
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