/ 

Feb 11

TECHNICAL ANALYSIS BY NSFX 11.02.2014

By:admin

High:  Low: 

The pair broke through trend resistance from the December 2013 top as well as the 50-day SMA yesterday. This morning, the pair is testing 38.2% Fibo resistance in the Nov-Dec 2013 wave at 1.3665 and a close above would open up for a test of 1.37 before 1.3740. With daily Stochastics, we could see upside being challenged by range traders, but don’t expect significant offers before 1.3740-area. In the bigger picture, the pair is still stuck in the 50%-61.8%  Fibo retracements in the 2011 high -2012 low wave.

R3
R2
R1
S1
S2
S3