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Feb 11

TECHNICAL ANALYSIS BY NSFX 11.02.2014

By:admin

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Following quite a volatile week, where the pair tested the 100-day SMA at 1.6250-area, bidders entered and sent the pair back above 1.64, where we currently have been testing the 50-day SMA for two days in a row with very limited trading ranges. Recent short term wave also reveals a pivotal point at the 38.2% fibo retracement in the wave from late Jan 2014 to recent February lows. Oscillators are fairly neutral, which could imply that before we see a close outside 1.6380-1.6440 range, the pair will be stuck in that interval.

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