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TECHNICAL ANALYSIS MAY.18

Euro

The 4-hour chart showed that consolidation was formed in a narrow range limited by 1.1260 - 1.1350 with a decline tendency. The analysts from Fort Financial Services said that the trades were ended near 1.1320.

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_18_05_2016_1

Pound

The data from the 4-hour time-frame showed that during the previous drop the quotes came across some support at 1.4320 and headed up. There was enough growth stimulus and the price levels 1.4400 and 1.4480 were overpassed. After that there was a downward correction and the session ended below 1.4480.

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_18_05_2016_1

Yen

The data from the 4-hour chart showed the bulls’ strong activity and an upward breakthrough of the level 109.00. Nevertheless, the analysts from FortFS said that the bears then took over and brought the price back to the opening levels.

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

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

technical_usdjpy_18_05_2016_1

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