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Jul 15

TECHNICAL ANALYSIS BY NSFX 15.07.2013

By:admin

High:  Low: 

Last week, the pair managed a weekly engulfing pattern, closing in positive territory for the first time in four with an impressive performance. The bullish engulfing pattern could signal a pause in the current downtrend. This week, keep an eye out for the 100-week SMA at 1.3070, which could determine future direction. On daily, the pair is trapped in a cluster of support/resistance levels as seen on the chart. The long upper shadow from Thursday could indicate significant offers around the 50% Fibo retracement and the 100-day SMA provides support.

R3
R2
R1
S1
S2
S3