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Technical Analysis Feb.23

Euro

On the 4-hour graph we see that the US dollar strengthened against the European currency which allowed the quotes to exit the formed range. Rebounding from the strong resistance at 1.1150 the bears broke through the support at 1.1050 on their way down. According to the analysts from Fort Financial Services, the pair started to consolidate at the end of the trading session.

The bulls will regain the leadership if they break through the resistance at 1.1050. Their target will be 1.1150 and 1.1260.

The bears will maintain the initiative if they overpass the support at 1.0925. Their target will be 1.0800.

technical_eurusd_23_02_2016

Pound

The data from the 4-hour graph showed that the US dollar grew versus the British currency. However, later the sterling managed to partially recover its positions. As a result, on the way down, the support at 1.4080 was numerously tested and from there the price went up and remained in the new range.

The bulls will maintain their leadership if they overpass the resistance at 1.4240. Their target will be 1.4320 and 1.4400.

The bears will regain the initiative if they overpass the support at 1.4080. Their target will be 1.4000.

technical_gbpusd_23_02_2016

Yen

According to the 4-hour graph the American currency strengthened against its Japanese opponent. The previous long-term decrease was changed by growth and broke through the resistance level at 113.00 on its way, say the analysts from FortFS.

The bulls will keep the leadership if they overpass the resistance at 113.80. Their target will be 114.60 and 115.40.

The bears will regain the initiative if they break through the support at 113.00. Their target will be 112.20 and 111.40.

technical_usdjpy_23_02_2016

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