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Jul 12

TECHNICAL ANALYSIS BY NSFX 12.07.2013

By:admin

High:  Low: 

Big ranges the past two days as the pair bounced off close to the 2013 lows and then was rejected at the 50% Fibo retracement in the wave from Nov 2012 to 2013 highs. The past two days have also turned the weekly candle positive for the first time in four, and we could see sustained bullish momentum going into next week, should the market react on the potential weekly bullish engulfing pattern. Daily, the 200-day SMA holds the key for further upside and is considered main resistance.

R3
R2
R1
S1
S2
S3