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Oct 29

TECHNICAL ANALYSIS BY NSFX 29.10.2013

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High:  Low: 

The next target of the cross rate is 1.0504, the supply line level that was generated the 7th of July.  Above this level the next relevant test would be the 2013 top at 1.0609. After a breakout is made in technical analysis is made a market projection that is equal at the widest peak-to valley distance during the downtrend. In this case the final target should be 1.08. In case the loonie dollar should gain ground 1.0365 and 1.0280 should be considered as valid support. The threshold of the trend anyway is the trendline that was generated in January 2013.

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