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Oct 24

TECHNICAL ANALYSIS BY NSFX 24.10.2013

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The choice of the monthly chart is important to assess the most important key level in 5 years. The pair is the most traded in term of volume, and its price pattern is used also as a compass to evaluate strategies of other risky assets. At 1.40 area there will be a battlefield between bull & bears.  If the pair should rise above that level then 1.42 and 1.45 will be key resistance. In case of risk appetite should decrease then the US dollar will be considered a safe haven and retracement to 1.3645 and 1.3450 will be considered as a valid support.

R3
R2
R1
S1
S2
S3