/ 

Mar 05

TECHNICAL ANALYSIS BY NSFX 05.03.2014

By:admin

High:  Low: 

After a slight recovery from the 2014 lows printed in early February, the pair is back in the Cloud, trading sideways. A break above Cloud resistance is needed for the outlook to turn optimistic again, which could be supported by the bullish crossover of the Chikou Span, giving room for additional upside towards 141.75 and then 142+ levels.  This would also be the prefered scenario, should price action remain above 50- and 100-day SMAs. Oscillators in neutral territory on daily, but slightly overbought on shorter time frames, so watch out for divergence, which could cap upside.

R3
R2
R1
S1
S2
S3