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Technical Analysis Feb.29

Euro

According to the picture of the 4-hour graph, the pair EUR/USD has sharply dropped after consolidating with the growth tendency. As the analyst from Fort Financial Services said, during the trades at the end of the week, for a short-time, the bulls broke through the resistance at 1.1050. Afterwards, the bears brought the euro currency back to the support at 1.0925 where the trades ended.

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_29_02_2016

Pound

On the 4-hour graph the pair GBP/USD was traded with the tendency to grow from the support at 1.3920. The pound bulls attempted to break through the resistance at 1.4000. However, towards the end of Friday’s trades the dollar has sharply increased against the sterling and the pair crashed breaking through the support at 1.3920.

The bulls will regain the initiative if they overpass the resistance at 1.3920. Their target will be 1.4000 and 1.4080.

The bears will keep the leadership if they break through the support at 1.3840. Their target will be 1.3760.

technical_gbpusd_29_02_2016

Yen

The upwards movement of the pair USD/JPY on the 4-hour graph continues. The pair’s growth stopped near resistance at 113.00. Nevertheless, at the end of trading, the bulls confidently passed through this level. According to the analyst from FortFS, at the end of trading the price came up to 113.80.

The bulls will maintain the initiative if they break through 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_29_02_2016

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