/ 

Aug 12

TECHNICAL ANALYSIS BY NSFX 12.08.2013

By:

High:  Low: 

The last time the pair reached 0.8347 was  during summer 2010 and now seems that 0.9035 is a good support because that level was broken with intensity. The supply line that was generated by linking the multiple top at 1.0580 with the lower top at 1.0388 is nearly at 45 degrees,  showing the magnitude of the downtrend. A breakout of this supply line can bring the price up of 500 pips, and this price projection is given by calculating the widest distance between the resistance and the underlying price.

R3
R2
R1
S1
S2
S3