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Sep 16

TECHNICAL ANALYSIS BY NSFX 16.09.2013

By:admin

High:  Low: 

The pair closed last week with a few spinning tops, which usually means areas of indecisive price action implying a change of trend. However, this morning, the pair has gapped up around 70 pips, currently flirting with the 76.4% Fibo retracement in the short term wave at 1.3369. A close above would open up for a test of August highs at 1.3452. However, with overbought short term oscillators, we could expect to see the pair being offered as a corrective move in today's trading.

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