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Sep 06

TECHNICAL ANALYSIS BY NSFX 06.09.2013

By:admin

High:  Low: 

Very bearish day yesterday with the pair almost making a bearish engulfing pattern and taking out the cluster of moving averages to close below the 100-day SMA and close to testing the 50% Fibo retracement in the recent wave at the 1.31-figure. This morning, the pair found resistance at the 100-day SMA, and we could see a continuation of the bearish action below 1.31, for a move towards 1.3050 and then 1.3020. Oversold oscillators could put a damper on the downward move, but still the setup would be a sell on rallies.

R3
R2
R1
S1
S2
S3