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TECHNICAL ANALYSIS APR.12

Euro

The analysts from Fort Financial Services informed us that the currency instrument EUR/USD continued the flat trading. Trades were held above the support at 1.1350. On the 4-hour time-frame, the bulls unsuccessfully attempted to test the resistance at 1.1450.

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

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

technical_eurusd_12_04_2016

Pound

The pair GBP/USD was traded above 1.4080, after that the price showed a sharp increase. On the H4 time-frame, the price broke through the resistance at 1.4160. The growth impulse allowed the testing of the level 1.4240. This level turned out to be a strong resistance and stopped any further growth.

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

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

technical_gbpusd_12_04_2016

Yen

On the 4-hour chart, the pair USD/JPY broke through the support at 108.20 during its downwards trading. Afterwards, the bulls tried to develop an upwards correction, however they only managed to test 108.20 from below. The analysts from FortFS said that, the pair rolled back down from this level.

The bulls will regain the initiative if they break through the resistance at 108.20. Their target will be 109.00 and 109.80.

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

technical_usdjpy_12_04_2016

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