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TECHNICAL ANALYSIS MAY.06

Euro

The 4-hour chart showed that the dollar strengthened its positions against the European currency. Consolidation in a narrow range of the currency instrument ended due to the development of a downward movement and the break through the level 1.1450. The analysts from Fort Financial Services said that the bears returned to the market.

The bulls will regain the leadership if they break through the resistance at 1.1450. Their target will be 1.1550 and 1.1650.

The bears will maintain the initiative if they break through the support at 1.1350. Their target will be 1.1260 and 1.1150.

technical_eurusd_06_05_2016_1

Pound

The sterling pound continued to decline against the US dollar and tested the nearest support at 1.4480 on the 4-hour chart. The trading of the pair GBP/USD passed through a narrow range.

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_06_05_2016_2

Yen

The analysts from FortFS said that Thursday’s trading session of the pair USD/JPY was in a narrow range and the bulls numerously tested the resistance at 107.40.

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_06_05_2016_1

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