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Technical Analysis FEB.24

Euro

According Fort Financial Services analysts the 4-hour graph for EUR/USD shows that the pair is traded below 1.1050. Despite the short-term corrective growth, the pair continues to decline since the beginning of the week. On the way down the mark 1.1050 was overpassed. The bulls attempted to return the price back to this level, however the price rolled down from this area. On Tuesday’s trades the pair has slightly increased.

The bulls will maintain the initiative if they overpass the resistance at 1.1050. Their target will be 1.1150 and 1.1260.

The bears will regain the leadership if they break through the support at 1.0925. Their target will be 1.0800.

technical_eurusd_24_02_2016

Pound

This week, the pound is losing its positions against the dollar dropping to new minimums. On the 4-hour graph the monetary instrument broke through the levels 1.4240 and 1.4160. On Tuesday’s trades the support at 1.4080 also could not stand up to the bearish impulse and was confidently broken downwards.

The bulls will regain the initiative if they break through the resistance at 1.4080. Their target will be 1.4160 and 1.4240.

The bears will manage to keep their leadership if they overpass the support at 1.4000. Their target will be 1.3920.

technical_gbpusd_24_02_2016

Yen

On the 4-hour graph the pair USD/JPY attempted to grow however, it could not strengthen above 113.00. The currency instrument dropped to 112.20. Here the pair created a consolidating range with the tendency to decrease. This data was confirmed by the analysts from FortFS.

The bulls will regain the initiative if they break through the resistance at 113.00. Their target will be 113.80 and 114.60.

The bears will maintain the initiative if they break though the support at 111.40. Their target will be 110.60.

technical_usdjpy_24_02_2016

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