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TECHNICAL ANALYSIS MAR.21

Euro

According to the analysts from Fort Financial Services, the pair EUR/USD started its correction after a significant growth. On the 4-hour time-frame the pair came extremely close to the resistance at 1.1350. At this point the bears came to action and dropped the price to the support at 1.1260 which was tested. The pair formed a short-term consolidation above this level.

The bulls will regain the leadership if they break through the resistance at 1.1350. Their target will be 1.1450.

The bears will maintain the initiative if they break through the support at 1.1260. Their target will be 1.1150 and 1.1050.

technical_eurusd_21_03_2016

Pound

The pair GBP/USD continues to grow. On the 4-hour chart the pair met a strong resistance at 1.4480 and rolled back. The pair did not drop below 1.4400 and towards the end of trading it returned to the area of 1.4480. This level was overpassed upwards.

The bulls will maintain their leadership if they break through the resistance at 1.4560. Their target will be 1.4640.

The bears will regain the initiative if they break through the support at 1.4480. Their target will be 1.4400 and 1.4320.

technical_gbpusd_21_03_2016

Yen

The decrease of the pair USD/JPY was stopped. On Friday, the trades were held in the area of 111.40. The price decreased to the support at 110.60 but it was a short-term decrease. The analysts from FortFS said that the trades ended with a breakthrough of 111.20.

The bulls will maintain the initiative if they break through the resistance at 112.20. Their target will be 113.00 and 113.80.

The bears will regain the initiative if they break through the support at 111.40. Their target will be 110.60.

technical_usdjpy_21_03_2016

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