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Oct 31

TECHNICAL ANALYSIS BY NSFX 31.10.2013

By:admin

High:  Low: 

After finding resistance at the 61.8% Fibonacci retracement in the 2011 high - 2012 low at 1.3830, the pair has retraced for three days in a row and has currently found bids at the 1.37-area, around prior break-out from February at 1.3710. A close below would lead to a continuation of the bearish price action towards 1.3645-1.3660 area. For further upside, we need a close above 1.3830.

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R1
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