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TECHNICAL ANALYSIS May.02

Euro

The 4-hour chart showed that an upwards movement was developed in the pair of majors. The bulls strengthened their positions based on the breakthrough of the price level 1.1350. The analyst from Fort Financial Services said that the trades were ended with the testing of the nearest 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.

technical_eurusd_02_05_2016

Pound

The data from the 4-hour chart showed that the pound paired with the dollar consolidated in a narrow range. The bulls’ attempt to break through 1.4670 was unsuccessful however the strong support at 1.4560 kept the price from a further drop.

The bulls will maintain the leadership if they break through the resistance at 1.4670. Their target will be 1.4760.

The bears will regain the initiative if they break through the support at 1.4560.their target will be 1.4480 and 1.4400.

technical_gbpusd_02_05_2016

Yen

The data from the 4-hour time-frame showed a development of the bearish movement in the pair of majors USD/JPY. The analysts from FortFS said that during the decline a number of support levels were overpassed near 108.20 and 107.40.

The bulls will regain the leadership if they break through the resistance at 107.40. Their target will be 108.20 and 109.00.

The bears will maintain the initiative if they break through the support at 106.60. Their target will be 105.80.

technical_usdjpy_02_05_2016

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