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TECHNICAL ANALYSIS MAY.13

Euro

The data from the 4-hour chart showed that the pair of majors continued to trade in the range limited by 1.1350 - 1.1450. After the growth to the upper limit of the range, the quotes then turned around and ended the trades near the bottom limit. The analysts from Fort Financial Services said that the pair remained in the downwards trend.

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_13_05_2016

Pound

The 4-hour chart showed that the bulls attempted to change the sideways trading into an upwards movement towards 1.4480. However, there was a price rollback and the session ended slightly below that level.

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

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

technical_gbpusd_13_05_2016

Yen

On the 4-hour time-frame, it was clear that the pair has corrected during the past session. The dollar growth was changed to its decrease and the level 109.00 was overpassed downwards. The analysts from FortFS said that the bulls then resumed their influence and returned the quotes to the intraday maximums.

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 108.20. Their target will be 107.40 and 106.60.

technical_usdjpy_13_05_2016

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