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Dec 19

TECHNICAL ANALYSIS BY NSFX 19.12.2013

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Using  the 4 hours chart is possible to see better that the pair made a double top in area 1.38  when the FED started to release data regarding monetary policy: a perfect example of market catalyst. In this case the cross rate then started to increase its volatility and plunged more than 100 pips. Next support a key level at 1.3623 and below this level the bullish trendline at 1.35 area.

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