TECHNICAL ANALYSIS APR.07

Euro

The analysts from Fort Financial Services said that the pair EUR/USD strengthened at the end of trading. On the 4-hour time-frame, the trades were held above 1.1350. The bears attempted to push this level down however unsuccessful. The price jumped up and the trades ended slightly below resistance at 1.1450.

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

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

Pound

After the decrease on the 4-hour chart, the pair GBP/USD sharply increased. The bears dropped the price to 1.4080 from 1.4160. After almost reaching the level 1.4000 the pair headed up confidently overpassing the level of 1.4080, and tested the resistance at 1.4160.

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

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

Yen

The decrease of the currency instrument USD/JPY obtained a new impulse. On the 4-hour chart the price consolidated under 110.60. At the same time, the bulls tested this level from below. Towards the end of trading, the price sharply went down. The analysts from FortFS informed that the bears broke through the level 109.80.

The bulls will regain the initiative if they break through the resistance at 109.80. Their target will be 110.60 and 111.40.

The bears will maintain the initiative if they break through the support at 109.00. Their target will be 108.20.

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