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Oct 11

TECHNICAL ANALYSIS BY NSFX 11.10.2013

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The pair had the same minimum price for 2 consecutive trading session in area 1.3486. This is a bullish signal for short term traders, market operators that use an intraday timeframe. There was a support as well provided by the 21SMA on the daily chart. The market sentiment for the pair is bullish and the first test at 1.3568 is not far from the current market price. Above that level there is the resistance in area 1.3640 and then the 2013 top at 1.37. Even the price pattern is positive things can change and if a retracement should occur the first support would be 1.3487 and below that level 1.3417.

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