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Jul 30

TECHNICAL ANALYSIS BY NSFX 30.07.2013

By:admin

High:  Low: 

EUR/USD once again made an attempt to close below the 23.6% Fibo retracement in the recent wave at 1.3260 and finished the second day in a row being indecisive. Stochastics showing signs of divergence (higher highs in indicator, price not following), which could support a correction lower. However, should bulls re-enter the market, then we anticipate stops in the area from 1.3295-1.3305, which could trigger additional upside, opening up for a test of trend resistance at  1.3330.

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