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TECHNICAL ANALYSIS MAR.16

Euro

According to the Fort Financial Services, on the 4-hour chart the bearish impulse of the pair EUR/USD was not developed. The decrease stopped above the support at 1.1050. Towards the end of trading the pair has strengthened however the price remained in the range bordered by 1.1150 and 1.1050.

The bulls will maintain the initiative if they break through the resistance at 1.1150. Their target will be 1.1260 and 1.1350.

The bears will regain the leadership if they break through the support at 1.1050. Their target will be 1.0925 and 1.0800.

technical_eurusd_16_03_2016

Pound

On the 4-hour time-frame, the pound sharply dropped against the US currency. After stabilizing below 1.4320 the bears confidently overpassed the support at 1.4240. They managed to drop the price to 1.4160. The trades of the pair were closed slightly below this level.

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

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

technical_gbpusd_16_03_2016

Yen

After consolidating near 113.80 on the 4-hour chart, the pair USD/JPY decreased. For a short time during the decrease, the bears overpassed the support at 113.00. As the analysts from FortFS informed, the pair did not manage to stabilize a lower level and towards the end of trading the pair stabilized near 113.00.

The bulls will keep 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_16_03_2016

You may read the full market review on the website:
https://www.fortfs.com

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