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Mar 01

TECHNICAL ANALYSIS BY NSFX 01.03.2015

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High:  Low: 

The rate is not far from its 2015 low, less than 100 pips and it is  likely that it will test it again this week. If the pair should trade below  1.11 then 1.07 should be the next key price and if risk appetite will decrease sharply EurUsd might test 1.03 this month. The pair is not oversold yet, but if a rally will occur price can reach 1.14 area and then a breakout above the supply line might lift EurUsd to test its 55EMA at 1.16. The target of the rally is 1.2 because above this level  market sentiment might turn neutral in the medium term.

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