Jamie's Pick: 07/09/12
The EURUSD traded to a 2 year low Friday and focus is on lower levels; notably 12150, 12068, 11875, and 11640. I don’t want to get too involved with the short term EURUSD wave count at this juncture for fear of seeing something that isn’t there. A rebound over the coming days back into 12360-12400 would present the next multi day short opportunity. Watch 60 minute RSI – rallies should be capped by roughly 60 on the indicator if the downtrend is still in force.
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