TECHNICAL ANALYSIS MAR.07

Euro

The analysts from Fort Financial Services informed us that the upwards movement of the pair EUR/USD continues. Earlier, the bulls confidently overpassed the resistance at 1.0925. The pair resumed its growth after it consolidated 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 level at 1.0925. Their target will be 1.0800 and 1.0680.

Pound

The bulls hold the leadership in the pair GBP/USD. On Friday’s trades, the bears attempted to overpass downwards the level of 1.4160. The attempt however was unsuccessful and the pair received a bullish impulse. The trades ended in the area of 1.4240 after it was tested.

The bulls will keep the leadership if they break through the resistance at 1.4240. Their target will be 1.4320 and 1.4400.

The bears will regain the initiative if they break through the support at 1.4160. Their target will be 1.4080 and 1.4000.

Yen

The pair USD/JPY was traded at low volatility, below the resistance at 113.80. The bears attempted to test the support at 113.00 however, unsuccessful. The pair remained on flat as the leader among bulls and bears was not identified. The analysts from FortFS informed us that the trades ended in the area of 113.80.

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

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

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