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  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 92.72%, while traders in France 40 are at opposite extremes with 78.97%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/9u54wDvyGc
Potential Near Term Path in Euro and Aussie

Potential Near Term Path in Euro and Aussie

Jamie Saettele, CMT, Sr. Technical Strategist

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EURUSD 12740/50 and AUDUSD 10260/75 are of particular interest in the near term, not only as magnets that attract price but also as levels to expect a market response (bounce in this case).

12740/50 is the 38.2% retracement of the rally from the June low, June high (12747) and 9/10 & 9/11 lows (12754). I am looking lower against 12970.

AUDUSD 10260/75 is the trendline support today (10280), 9/7 low, and 100% extension of the decline from the top. Short term downward sloping channel support intersects the level tomorrow. I am looking lower against 10462.

EURUSD – 240 Minute Bars

Potential_Near_Term_Path_in_Euro_and_Aussie_body_eurusd.png, Potential Near Term Path in Euro and Aussie

Prepared by Jamie Saettele, CMT

AUDUSD – Daily Bars

Potential_Near_Term_Path_in_Euro_and_Aussie_body_audusd.png, Potential Near Term Path in Euro and Aussie

Prepared by Jamie Saettele, CMT

To contact Jamie e-mail jsaettele@dailyfx.com. Follow me on Twitter @JamieSaettele

To be added to Jamie’s e-mail distribution list, send an e-mail with subject line "Distribution List" to jsaettele@dailyfx.com

Jamie is the author of Sentiment in the Forex Market.

Meet the DailyFX team in Las Vegas at the annual FXCM Traders Expo, November 2-4, 2012 at the Rio All Suite Hotel & Casino. For additional information regarding the schedule, workshops and accommodations, visit the FXCM Trading Expo website.

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

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