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TECHNICAL ANALYSIS APR13

Euro

The analysts from Fort Financial Services said that, after a short-term consolidation the pair EUR/USD has increased. The bulls tested the resistance at 1.1450 where the bears took over and tested the support at 1.1350 on the H4 chart. However, the trades ended above this level.

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_13_04_2016

Pound

A sharp increase after a short-term consolidation was observed in the pair GBP/USD. The bulls pushed through the resistance at 1.4240. The next resistance at 1.4320 was tested on the 4-hour chart. The price then dropped to the level 1.4240 which served as support. Nevertheless, the pair grew towards the end of trading.

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

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

technical_gbpusd_13_04_2016

Yen

The downwards movement of USD/JPY on the 4-hour time-frame stopped. The trades were held below resistance at 108.20. Then, the pair corrected upwards and the bulls returned the price above 108.20. The analysts from FortFS said that the trades were ended slightly below 109.00.

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

The bears will regain the initiative if they break through the support at 108.20. Their target will be 107.40 and 106.60.

technical_usdjpy_13_04_2016

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