TECHNICAL ANALYSIS BY NSFX 28.01.2014
The pair is entering its fourth week of gains and has increased around 5% in the same period. Currently, the pair has tested the 50% Fibo retracement in the major wave from 2007 lows to 2009 highs at 1.1060, but rejected to go lower. Oscillators are elevated and some signal overbought territory, which could give rise to a change of trend. A consolidation is likely given the recent massive bullish move.