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TECHNICAL ANALYSIS MAR.09

Euro

According to the image on the 4-hour chart, the euro bulls returned to the market after consolidation . However, the strong resistance at 1.1050 cooled the buyers’ enthusiasm and contributed to a slight rollback. The analysts from Fort Financial Services say that the pair is traded in a narrow range.

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 break through the support at 1.0925. Their target will be 1.0800 and 1.0670.

technical_eurusd_09_03_2016

Pound

In the 4-hour chart the sterling weakened against the US dollar. After a sharp jump up, the price dropped below the level of 1.4240 where it ended the trades.

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

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

technical_gbpusd_09_03_2016

Yen

In the 4-hour time-frame, the dollar continues to give up its positions against the Japanese currency. The analysts from FortFS noted that the quotes rebounded from the support at 113.00 and continued to decrease to the next price level.

The bulls will regain the leadership if they break through the resistance at 113.00. Their target will be 113.80 and 114.60.

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

technical_usdjpy_09_03_2016

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