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Aug 26

TECHNICAL ANALYSIS BY NSFX 26.08.2013

By:

High:  Low: 

The pair is off from intraday low and is just 50 pips distance from key resistance 1.3420.  Parabolic SAR is bullish and the ATR is downtrending, traders that adopt indicators and price patterns  will go long the pair both above the higher band of the channel and on retracements to the 21SMA.  If risk appetite will increase then likely to see a chain of black candles that will bring sellers in control, especially below 1.31.

R3
R2
R1
S1
S2
S3