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TECHNICAL ANALYSIS MAR.02

Euro

According to the analysts from Fort Financial Services: the downwards movement on the H4 chart of EUR/USD pair continues. After the unsuccessful attempt to overpass the level of 1.0925 the pair dropped and formed a short term consolidation. The bears did not manage to drop the price to the support at 1.0800 and the decrease continued.

The bulls will regain the leadership if they break through the resistance at 1.0925. Their target will be 1.1050 and 1.1150.

The bears will keep the initiative if they break through the support at 1.0800. Their target will be 1.0680.

technical_eurusd_02_03_2016

Pound

A corrective upwards movement of the pair GBP/USD continues on the 4-hour chart. On the way up the bulls broke through the resistance 1.3920 and tested 1.4000. Afterwards, the bears tested the mark of 1.3920, where the trades were held. Nevertheless, the trades ended slightly below resistance at 1.4000.

The bulls will manage to keep the leadership if they break through the resistance at 1.4000. Their target will be 1.4080 and 1.4160.

The bears will regain the initiative if they break through the support at 1.3920. Their target will be 1.3840.

technical_gbpusd_02_03_2016

Yen

On the H4 time-frame the currency instrument USD/JPY is traded in the southern direction. The growth started from the support at 112.20 and the bulls confidently overpassed the resistance at 113.00, and it continued after that. At the end of the trading the pair sharply increased. The analysts from FortFS said that at the end of trading the resistance at 113.80 was also overpassed.

The bulls will maintain the initiative if they break through the resistance at 114.60. Their target will be 115.40 and 116.20.

The bears will regain the initiative if they break through the support at 113.80. Their target will be 113.00 and 112.20.

technical_usdjpy_02_03_2016

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