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Dec 07

TECHNICAL ANALYSIS BY NSFX 07.12.2014

By:

High:  Low: 

The rate made a double bottom in area 1.2270, trading on a new 2014 low. The first significant resistance is the 21SMA, but above this level the pair could reach area 1.26. Market sentiment would change only  after a confirmed breakout of the supply line that links lower highs generated last May. Below 1.2270 EurUsd should test 1.20 and then 1.18. levels traded on 2012 and 2010 respectively.

R3
R2
R1
S1
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S3