Jamie's Pick: 06/28/12
Last night’s Asia pop higher in risk pairs (AUDUSD and NZDUSD) satisfied Fibonacci relationships, suggesting that the rallies from Monday’s lows (and small 2nd waves) are complete. The only thing keeping me from getting aggressive on the short side is that weekly seasonality tendencies favor a Friday high with the Monday low in place. I am short the AUDUSD but not as short as I want to be.
Of note as well is intraday RSI action on the AUDUSD and NZDUSD charts. The indicator failed after poking above 60 on the 240 minute charts and failed just ahead of 70 on the 60 minute charts. These are common bear market tendencies.
AUDUSD levels – 9900 9970 10000 10085 10125 10160
I exited the USDJPY long from 2 days ago at a little better than breakeven last night (the move was issued via Twitter lat night @JamieSaettele).
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