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TECHNICAL ANALYSIS MAR.17

Euro

According to the analysts from Fort Financial Services, the pair EUR/USD went through downwards trades. On the 4-hour chart, the bears tested the support at 1.1050. Towards the end of trading the pair sharply increased, broke through the resistance at 1.1150 and reached new maximums slightly below 1.1260.

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

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

technical_eurusd_17_03_2016

Pound

On the H4 chart, the pair GBP/USD was traded downwards. During the decrease, there was an attempt to overpass the support at 1.4080, then the price jumped up. The bulls broke through the resistance at 1.4160 and tested the level of 1.4240.

The bulls will maintain 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.

technical_gbpusd_17_03_2016

Yen

The currency instrument USD/JPY could not stabilize below 113.00 and resumed its growth. On the 4-hour time-frame, the bulls of the dollar raised the price to 113.80. After testing this level the price sharply went down. According to the analysts from FortFS, the pair closed the trades at 113.00.

The bulls will regain the initiative 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 and 110.60.

technical_usdjpy_17_03_2016

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

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