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Dec 14

TECHNICAL ANALYSIS BY NSFX 14.12.2014

By:

High:  Low: 

After a new 2014 low made last Monday the rate tried to gain area 1.25. A breakout above this level and a consolidation above the 55EMA can lift the pair to 1.2825. This area is very important because there are multiple resistance: the supply line generated from the 2014 top and the static resistance that previously was a support. Positive market sentiment can lift the rate to test the 200SMA. If EurUsd should slide below 1.2244 it might test 1.2 and then 1.18.

R3
R2
R1
S1
S2
S3