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Jamie's Pick: 08/10/12

Jamie's Pick: 08/10/12

2012-08-10 11:31:00
Jamie Saettele, CMT, Sr. Technical Strategist
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A long EURAUD was issued last night via Twitter (@JamieSaettele) at 11635. The initial stop was 11600 which has since been moved to breakeven. The target area is 12100-12300.

I returned to the short side in AUDUSD this morning at 10520 (released via Twitter) with a 10590 stop. A drop below 10435 would increase confidence that an important top is in place. A short term (3-5 days) target is 10350.

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