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Jan 16

TECHNICAL ANALYSIS BY NSFX 16.01.2014

By:admin

High:  Low: 

On the first trading day of 2014, the pair printed the highest level since August 2011 above the 1.66 figure, only to be sold off afterwards – currently testing trend support from July 2013 lows. On a daily basis, the pair is testing the 50-day SMA at 1.6353 and 38.2% Fibo retracement in the wave from November 2013 – January 2014 at 1.6317. With oscillators in neutral, we could see the pair continue the downward move towards 1.6230.

R3
R2
R1
S1
S2
S3