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TECHNICAL ANALYSIS MAY.12

Euro

The data from the 4-hour chart showed that currency pair EUR/USD remained in the range limited by 1.1350 at the bottom and 1.1450 on the top. The bulls regained their influence in the pair. The analysts from Fort Financial Services said that the instrument quotes headed upwards.

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

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_12_05_2016_1

Pound

On the 4-hour chart, the currency pair GBP/USD was traded in the created range and tested its lower and upper limits. Due to traders’ activity the trades ended at the level 1.4449.

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_12_05_2016_1

Yen

The fact that the bears returned to the pair USD/JPY was demonstrated on the 4-hour time-frame. During the trading session sellers dropped the price to 109.00. The analyst from FortFS confirmed that the trades ended at the level 108.41.

The bulls will regain the leadership if they break through the resistance at 109.00. Their target will be 109.80 and 110.60.

The bears will maintain the initiative if they break through the support at 108.20. Their target will be 107.40 and 106.60.

technical_usdjpy_12_05_2016_1

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