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TECHNICAL ANALYSIS APR.06

Euro

The analysts from Fort Financial Services informed that the currency instrument EUR/USD continued to consolidate. The bears tested the support at 1.1350 on the H4 time-frame. The attempt to develop the downwards impulse was unsuccessful and the pair ended the trading above this level.

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

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

technical_eurusd_06_04_2016

Pound

The decrease of the pair GBP/USD continued on the 4-hour chart. The downwards movement stopped slightly above 1.4240. Later, the bears took over and broke through the support at 1.4240. However, the downwards impulse was developed and towards the end of trading the pair dropped to 1.4160.

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

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

technical_gbpusd_06_04_2016

Yen

The pair USD/JPY continued to renew its minimums. The decrease continued after the breakthrough of 111.40. On the 4-hour chart, the bears overpassed and reached next support level at 110.60. The analysts from FortFS said that despite the downwards testing of the level 110.60 the trades ended below it.

The bulls will regain the initiative if they break through the resistance at 110.60. Their target will be 111.40 and 112.20.

The bears will maintain the initiative if they break through the support at 109.80. Their target will be 109.00.

technical_usdjpy_06_04_2016

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