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Technical Analysis Feb.16

Euro

As the analysts from Fort Financial Services expected, the monetary instrument EUR/USD is declining on the 4-hour time-frame. The pair rolled down when it could not overpass the support at 1.1350. The bears managed to break through the support at 1.1260. The downwards movement then continued and the level of 1.1150 was tested. The trading ended slightly above this level.

The bulls will regain the leadership if they break through the resistance at 1.1260. Their target will be 1.1350.

The bears will maintain the initiative if they break through the support at 1.1150. Their target will be 1.1050 and 1.0925.

technical_eurusd_16_02_2016_1

Pound

On the 4-hour graph of the pair GBP/USD there was a trading harmony limited by the levels 1.4560 and 1.4400. The monetary instrument was traded in the area of 1.4480, however it could not stabilize higher. During yesterday’s trades the pair sharply dropped and broke through this mark. Further decrease was restricted by the support at 1.4400.

The bulls will regain the initiative if they overpass the resistance at 1.4480. Their target will be 1.4560 and 1.4630.

The bears will manage to keep the leadership if they overpass the support at 1.4400. Their target will be 1.4320 and 1.4240.

technical_gbpusd_16_02_2016_1

Yen

On the 4-hour graph the pair USD/JPY forms an upwards corrective movement. According to the analysts from FortFS, the pair broke through the resistance at 113.00 and 113.80. At the end of trading the bulls attempted to overpass the level of 114.60.

The bulls will maintain their initiative if they break through the resistance at 114.60. Their target will be 115.40 and 116.20.

The bears will regain the initiative if they break through the support at 113.80. Their target will be 113.00 and 112.20.

technical_usdjpy_16_02_2016_1

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