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Jamie's Trades: 05/31/2013

Jamie's Trades: 05/31/2013

Jamie Saettele, CMT, Sr. Technical Strategist

Intraday volatility from month end is alive and well. Extremely choppy trading like this serves to ‘clean up’ the market…rid it of weak hands if you will, so that the next move can take place. USDOLLAR (Dow Jones FXCM Dollar Index) technicals suggests more downside before the next important USD low is in place. Levels of interest for support come in at 10656 (20 day midpoint) and 10605 (5/9 J Thrust close). Levels that should present USD bullish opportunities in the coming days are…

EURUSD 1.3180 (5/1 reversal day close)

USDCHF .9481 (5/9 J Thrust close)

AUDUSD .9841 or .9919 (5/21 high and 20 day midpoint)

GBPUSD 1.5302/21 (20 day midpoint and 5/16 high)

Follow me on Twitter @JamieSaettele

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