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TECHNICAL ANALYSIS APR.11

Euro

The analysts from Fort Financial Services informed that the pair EUR/USD was traded in a consolidating range with the tendency to decline. Slowly, the bears dropped the price to 1.1350. This support level was tested on the H4 chart. Towards the end of trading, the price rebounded from this level upwards.

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.

technical_eurusd_11_04_2016_1

Pound

The pair GBP/USD broke through the support at 1.4080 on the 4-hour chart for a short period. Nevertheless, the bears took over below this level and broke through 1.4080 upwards. This level was tested and once again served as a support level. The trades however were ended above this level.

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.

technical_gbpusd_11_04_2016_1

Yen

The upwards correction of the pair USD/JPY was stopped by the resistance at 109.00. The bulls tested this level, but they did not manage to break through it and the price rolled back down. The downwards movement led to the attempted breakthrough of the level 108.20. The analysts from FortFS said that the pair ended its trades and reached the new minimums below this level.

The bulls will regain the initiative if they break through the resistance at 109.00. Their target will be 109.80 and 110.60.

The bears will maintain the initiative if they break through the support at 107.40. Their target will be 106.60.

technical_usdjpy_11_04_2016_1

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