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Oct 16

TECHNICAL ANALYSIS BY NSFX 16.10.2013

By:admin

High:  Low: 

After some consolidation last week, the pair has recovered from the double top formation and is currently battling the Kinjun-Sen and 23.6% Fibo retracement in the recent short term wave. The close above the Kinjun-Sen on Monday and yesterday's long lower shadow shows that bidders are entering the market at 156.75 and so far, offers have been spotted around 157.70. With daily oscillators overbought, we could see an additional correction lower, given that divergence is spotted.

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