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Technical Analysis Feb.17

Euro

According to the analysts of Fort Financial Services the pair EUR/USD formed a short-term consolidation on the 4-hour graph. The price was declining from 1.1350, and the level 1.1260 was passed downwards. Towards the end of Tuesday’s trades the pair was consolidated in the area of 1.1150, and only at the end the bears were able to overpass this mark.

The bulls will regain the leadership if they break through the resistance at 1.1150. Their target is 1.1260 and 1.1350.

The bears will maintain the initiative if they break through the support at 1.1050. Their target is 1.0925 and 1.0800.

technical_eurusd_17_02_2016

Pound

On the 4-hour graph the sterling has sharply decreased against the US dollar. At the end of trading the pair moved out from the range that was formed earlier. The range was limited by the levels 1.4560 and 1.4400. On the way down the bears pushed through the bottom limit of the range: 1.4400 and 1.4320.

The bulls will regain the initiative if they break through the resistance at 1.4320. Their target will be 1.4400 and 1.4480.

The bears will keep the leadership if they break through the support at 1.4240. Their target will be 1.4160.

technical_gbpusd_17_02_2016

Yen

On the 4-hour graph the monetary instrument USD/JPY increased up to 114.60. After numerously testing this level the pair moved down. The bears dropped the price to 113.80, however they could not break through it. Fortfs analysts noticed that near this level the pair was traded at low volatility.

The bulls will regain the initiative if they manage to overpass the resistance at 114.60. Their target is 115.40 and 116.20.

The bears will maintain their leadership if they overpass the support at 113.80. Their target is 113.00 and 112.20.

technical_usdjpy_17_02_2016

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