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TECHNICAL ANALYSIS Apr.05

Euro

According to the analysts from Fort Financial Services, the pair EUR/USD has consolidated. The bulls attempted to raise the price to the resistance at 1.1450. However, the impulse was not strong enough and the bears took over by testing the support at 1.1350. On the 4-hour chart, the currency instrument is traded in a consolidating range above support at 1.1350.

The bulls will regain the initiative if they break through the resistance at 1.1450. Their target will be 1.1550.

The bears will maintain the leadership if they break through the support at 1.1350. Their target will be 1.1260 and 1.1150.

technical_eurusd_05_04_2016

Pound

The bears of the GBP/USD managed to overpass the support level at 1.4240, where the trades were held. On the 4-hour time-frame, the bulls tried to develop a movement to the north and towards the end of trading managed to raise the price to 1.4320. They confidently overpassed the resistance at 1.4240. The trades ended slightly below resistance at 1.4320, where the price rolled down.

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

The bears will maintain the initiative if they break through the support at 1.4240. Their target will be 1.4160 and 1.4080.

technical_gbpusd_05_04_2016

Yen

The decrease of the pair USD/JPY resumed. After overpassing the support at 112.20 the price drop stopped at 111.40. After a short term of consolidation above this level the pair continued to drop. The analysts from FortFS informed that on the H4 chart, the bears managed to push this level downwards.

The bulls will regain the initiative if they break through the resistance at 111.40. Their target will be 112.20 and 113.00.

The bears will maintain the initiative if they break through the support at 110.60. Their target will be 109.80.

technical_usdjpy_05_04_2016

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