According to Fort Financial Services analysts: the 4-hour graph for the monetary instrument EUR/USD is correcting. The pair is traded in the downwards direction after breaking through the support at 1.1050 which now serves as resistance. However, the bears did not manage to drop the price to 1.0925. At the end of Wednesday’s trades the pair jumped up and tested the level of 1.1050.
The bulls will maintain the initiative if they break through 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.
On the 4-hour graph the pair GBP/USD continues to decline. On the way down, the support at 1.4000 was overpassed. The bulls managed to test this level from below but the pair continued its downward move. The trades were closed at the support area 1.3920 where the new minimums were detected.
The bulls will regain the initiative if they overpass the resistance level at 1.4000. Their target will be 1.4080 and 1.4160.
The bears will maintain the leadership if they overpass the support at 1.3920. Their target will be 1.3840.
On the 4-hour graph the pair USD/JPY is traded below the level of 112.20. After consolidating with the tendency to decrease the dollar suddenly dropped against the yen. The pair tested the level of 111.40. The analysts from FortFS say that the trades were closed slightly below this level.
The bulls will regain the initiative if they break through the resistance at 112.20. Their target will be 113.00 and 113.80.
The bears will keep the leadership if they break through the support at 111.40. Their target will be 110.60.
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