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Technical Analysis
TECHNICAL ANALYSIS BY NSFX 23.02.2016
HIGH: | LOW:
Gold reversed off 12-month highs last week at the confluence of the 78.6% retracement of the 2015 range, the broader 23.6% retracement of the decline off the 2011 record highs and basic trend-line resistance extending off the late-2013 high at 1251.00.
TECHNICAL ANALYSIS BY NSFX 23.02.2016
HIGH: | LOW:
Ultimately, the market looks as if there could be buyers there, so we are willing to go long on a short-term chart, but at this point in time it is difficult to make a longer-term trade as there is not much in the way of room in order to continue to place a longer-term trade.
TECHNICAL ANALYSIS BY NSFX 19.02.2016
HIGH: | LOW:
A major topping pattern has completed in USDJPY. The pair move below the 38.2% retracement of the move up from the Feb 11 low at the 113.37. Narrow range but more bearish technically USDJPY has tested the 200 hour MA three times over the last few days in what has been a down to sideways market.