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TECHNICAL ANALYSIS MAR.04

Euro

The analysts from Fort Financial Services informed that the currency instrument EUR/USD suddenly grew. The pair sharply turned around and went up but without reaching the support at 1.0800. The bulls managed to break through the resistance at 1.0925 and the trades ended above this level.

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 and 1.0680.

technical_eurusd_04_03_2016

Pound

The pair GBP/USD continued its movement towards north. After breaking through the resistance at 1.4080 a short term consolidation was formed above this level. The pair then went up and tested the resistance at 1.4160. Growth impulse was not strong enough to break through this mark.

The bulls will keep the leadership if they break through the resistance at 1.4160. Their target will be 1.4240 and 1.4320.

The bears will regain the initiative if they break through the support at 1.4080. Their target will be 1.4000 and 1.3920.

technical_gbpusd_04_03_2016

Yen

After a decrease, the pair USD/JPY grew and for a short time overpassed the resistance at 113.80. The bulls did not manage to develop an upward movement so the bears took over the initiative. The price dropped below this level. Nevertheless, the analysts from FortFS said that the trades ended above the support at 113.00.

The bulls will regain the initiative if they break through the resistance at 113.80. Their target will be 114.60 and 115.40.

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

technical_usdjpy_04_03_2016

You can read the market review on our website:
https://www.fortfs.com

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