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TECHNICAL ANALYSIS MAY.20

Euro

The 4-hour time-frame of the pair showed that trading was controlled by the sellers who dropped the price to the nearest support at 1.1150. The analysts from Fort Financial Services said that the pair EUR/USD was traded in a downward direction.

The bulls will regain the leadership if they break through the resistance at 1.1260. Their target will be 1.1350 and 1.1450.

The bears will maintain the initiative if they break through the support at 1.1150. Their target will be 1.1040.

technical_eurusd_20_05_2016_2

Pound

The pair GBP/USD was traded in a narrow range limited by 1.4560 - 1.4670 on the 4-hour time-frame. The session ended near the upper limit of the range with a slight profit-taking of the opening prices.

The bulls will maintain the leadership if they break through the resistance at 1.4670. Their target will be 1.4760.

The bears will regain the initiative if they break through the support at 1.4560. Their target will be 1.4480 and 1.4400.

technical_gbpusd_20_05_2016_1

Yen

The 4-hour chart showed that at the start of trading the quotes overpassed the level of 109.80 upwards. After a short-term consolidation the quotes dropped back to 109.80 and tested it in the opposite direction. The analysts from FortFS said that the trades of the highly volatile instrument continued in a downward direction.

The bulls will regain the leadership if they break through the resistance at 110.60. Their target will be 111.40.

The bears will maintain the initiative if they break through the support at 109.80. Their target will be 109.00 and 108.20.

technical_usdjpy_20_05_2016_1

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