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TECHNICAL ANALYSIS MAY.11

Euro

The data from the 4-hour chart showed that the EUR/USD pair continued in the range limited by 1.1350 - 1.1450. The bears still dominate in the currency pair. The analysts from Fort Financial Services said that the technical picture showed the quotes in the oversold zone.

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_11_05_2016

Pound

The 4-hour chart showed that the trades of the monetary instrument were in the range 1.4400-1.4480. During trading, the pair attempted to test the upper limit of the range but unsuccessfully. Nevertheless, the pair managed to grow.

The bulls will maintain the leadership if they break through the resistance at 1.4480. Their target will be 1.4560 and 1.4670.

The bears will regain the initiative if they break through the support at 1.4400. Their target will be 1.4320 and 1.4240.

technical_gbpusd_11_05_2016

Yen

The US currency continued to strengthen against the Japanese yen on the 4-hour time-frame. The analysts from FortFS said that the bulls overpassed the resistance at 109.00 and strengthened above this mark.

The bulls will maintain the leadership if they break through the resistance at 109.80. Their target will be 110.60.

The bears will regain the initiative if they break through the support at 109.00. Their target will be 108.20 and 107.40.

technical_usdjpy_11_05_2016

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