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TECHNICAL ANALYSIS May.03

Euro

The data from the 4-hour chart showed that the euro did not allow the dollar to regain its positions, and it overpassed another resistance at 1.1450. The analysts from Fort Financial Services said that in this pair, the euro bulls increased their influence.

The bulls will maintain the leadership if they break through the resistance at 1.1550. Their target will be 1.1650.

The bears will regain the initiative if they break through the support at 1.1450. Their target will be 1.1350 and 1.1260.

technical_eurusd_03_05_2016_1

Pound

The 4-hour chart showed a stable strengthening of the British currency despite the low volatile trading of the pair GBP/USD due to the bank holiday in the UK. The upper limit 1.4670 of the formed range was tested at the end of the session.

The bulls will maintain the leadership if they break through the resistance at 1.4670. Their target will be 1.4760 and 1.4880.

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_03_05_2016_1

Yen

The currency pair USD/JPY consolidated below 106.60 on the 4-hour time-frame. The analysts from FortFS confirmed that due to the weak dollar, the bearish influence persists in the pair of majors.

The bulls will regain the leadership if they break through the resistance at 106.60. Their target will be 107.40 and 108.20.

The bears will maintain the initiative if they break through the support at 105.80. Their target will be 105.00.

technical_usdjpy_03_05_2016_1

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