The analysts from Fort Financial Services said that the pair EUR/USD dropped to the support at 1.1260. The bears attempted unsuccessfully to push this level lower. On the 4-hour chart a short-term consolidation was formed in the area of 1.1260. At the end of trading the pair managed to strengthen and stepped upwards.
The bulls will manage to maintain the leadership if they break through the resistance at 1.1350. Their target will be 1.1450 and 1.1550.
The bears will regain the initiative if they break through the support at 1.1260. Their target will be 1.1150 and 1.1050.
On the 4-hour time-frame the currency instrument GBP/USD was traded below 1.4160. Towards the end of Friday’s trades the bulls successfully raised the price. The pair increased sharply and broke through the resistance at 1.4160. The stable price growth allowed the bulls to test the next resistance level at 1.4240 under which trades were ended.
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.
The pair USD/JPY could not break upwards through 109.80. On the H4 chart the bulls managed to bring the price to this level, however they did not manage to stabilize there. On Friday’s trades the pair suddenly went down and approached the support at 109.00. The support did not restrain from a further drop and towards the end of trading the pair dropped below this level. The analysts from FortFS said that the level 109.00 served as resistance.
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 leadership if they break through the support at 108.20. Their target will be 107.40 and 106.60.
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Dear traders and partners, FortFS extends deadlines for the reduced spreads! From July 19 to September 30, 2019, spreads for the 4 most popular currency pairs are: EURUSDf: 0.8 GBPUSDf: 0.9 USDJPYf: 1.0 XAUUSDf: 3.5