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TECHNICAL ANALYSIS MAY.16

Euro

The currency instrument EUR/USD was traded in downwards as it was shown on the 4-hour chart. The pair stepped back from a strong resistance at 1.1450 and headed down. The analysts from Fort Financial Services said that during the decline the bears pushed through the support at 1.1350.

The bulls will regain the leadership if they break through the resistance at 1.1350. Their target will be 1.1450 and 1.1550.

The bears will maintain the initiative if they break through the support at 1.1260. Their target will be 1.1150 and 1.1050.

technical_eurusd_16_05_2016_1

Pound

The data from the 4-hour time-frame showed that the US dollar strengthened its positions against the pound. The bearish influence was resumed in the pair of majors. During the decrease, sellers overpassed the support at 1.4400.

The bulls will regain the leadership if they break through the resistance at 1.4400. Their target will be 1.4480 and 1.4560.

The bears will maintain the initiative if they break through the support at 1.4320. Their target will be 1.4240 and 1.4160.

technical_gbpusd_16_05_2016_1

Yen

On the 4-hour chart the pair USD/JPY was traded in a narrow range. The analysts from FortFS said that during the session, buyers attempted to strengthen their positions and tested the resistance at 109.00. However, the trading session ended with the dollar strengthening against the yen and headed towards the support at 108.20.

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_16_05_2016_1

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