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TECHNICAL ANALYSIS MAY.05

Euro

The bearish influence resumed in the pair EUR/USD according to the data from the 4-hour chart. Price growth was stopped below the resistance at 1.1650, later it declined and 1.1550 was overpassed. The analysts from Fort Financial Services said that at the end of the session the pair consolidated in the new range.

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

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

technical_eurusd_05_05_2016

Pound

The data from the 4-hour chart showed that at the previous trading session the pound led the decline against the US opponent. That time, the sellers managed to drop to another price level which was 1.4560. Yesterday in the afternoon, the closest support at 1.4480 was numerously tested.

The bulls will regain the leadership if they break through the resistance at 1.4560. Their target will be 1.4670 and 1.4760.

The bears will maintain the initiative if they break through the support at 1.4480. Their target will be 1.4400 and 1.4320.

technical_gbpusd_05_05_2016

Yen

The 4-hour time-frame showed that the dollar managed to strengthen thanks to the bank holidays in Japan. However, quotations growth met a strong resistance at 107.40. The pair trading was slightly volatile and in a narrow range. The analysts from FortFS said that the pair activity would resume when the players from Tokyo return to the market.

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

The bears will regain the initiative if they break through the support at 106.60. Their target will be 105.80 and 105.00.

technical_usdjpy_05_05_2016

 

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