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May 17

TECHNICAL ANALYSIS BY NSFX 17.05.2015

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High:  Low: 

The rate failed to rise above 1.149 and a retracement can create a trading range environment with lower band 1.0470 and higher band 1.1490. Below 1.0470 EurUsd might test the parity.  The moving averege crossover, with the 21SMA now above the 55EMA, should create trend following trading, and if buyers will lift the rate above 1.1490 the pair might test the 200SMA, now near 1.17 and above it there is a static resistance at 1.2.

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