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Jul 22

TECHNICAL ANALYSIS BY NSFX 22.07.2013

By:admin

High:  Low: 

Cable also took home it second consecutive gaining week and is now close to three figures away from the recent 2013 low printing at 1.4813. On a daily basis, the pair is flirting with the 50- and 100-day SMAs where a close above will be key for further upside. The 50-day SMA is coinciding with the 50% Fibo retracement at 1.5280 in the recent wave and we could see stops above 1.5305, leading to a potential test of 1.5390-area. Daily Stochastics in overbought territory could provide offers.

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R1
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