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Aug 02

TECHNICAL ANALYSIS BY NSFX 02.08.2013

By:admin

High:  Low: 

The pair had a very strong day yesterday with a move of more than 180 pips compared to an Average True Range of 135, taking out the 100- and 50-day SMAs as well as closing above the Cloud resistance in the Ichimoku Cloud formation. This is a very bullish move and we could see an extension towards trend resistance projected from 2013 highs, currently at 100.26, before 100.45 and 100.85. Downside, the Cloud as SMAs should provide support.

R3
R2
R1
S1
S2
S3