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Jul 11

TECHNICAL ANALYSIS BY NSFX 11.07.2013

By:admin

High:  Low: 

Price action has been quite violent in the past day, which has given cause to a major pick-up in volatility. Despite the high range of almost 250 pips today in the European morning session, the pair still needs to close above the cluster of resistances (namely the 50-, 100- and 200- day SMAs as well as the 61.8% Fibo retracement in the wave from Nov 2012 - 2013 high), in order to change the bearish sentiment. Support at 1.2950 before 1.2910-area.

R3
R2
R1
S1
S2
S3