/ 

Nov 25

TECHNICAL ANALYSIS BY NSFX 25.11.2013

By:admin

High:  Low: 

The pair has been on the bid for the past four weeks in a row and is currently testing the highs from July earlier this year at 101.53. In writing of this analysis, the pair is trading above this level, and should we close above for the week, this would open up for a test of the May highs at 103.73. Ichimoku looks good on a daily basis and weekly will indicate a very positive outlook, should the Chinkou Span turn positive next week. Momentum indicators in the short term have turned overbought, which could lead to some sideways trading towards 100.75-area, but overall the setup is for a buy-on-dips.

R3
R2
R1
S1
S2
S3