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TECHNICAL ANALYSIS MAY.24

Euro

The 4-hour time-frame showed that the pair EUR/USD consolidated in a narrow range limited by 1.1200-1.1250. During the session, sellers tested the bottom limit of this range. The analysts from Fort Financial Services said that the pair remained in the downward trend.

The bulls will maintain the leadership if they break through the resistance at 1.1250. Their target will be 1.1300 and 1.1370.

The bears will regain the initiative if they break through the support at 1.1200. Their target will be 1.1130 and 1.1070.

technical_eurusd_24_05_2016_1

Pound

The data from the 4-hour time-frame showed that the sterling pound was traded under the pressure of the US currency. After a slight correction towards 1.4560 the quotes continued to decline and tested the level 1.4480 a number of times.

The bulls will regain the leadership if they break through the resistance at 1.4560. Their target will be 1.4670 and 1.4760.

The bears will maintain the initiative if they break through the support at 1.4480. Their target will be 1.4400 and 1.4320.

technical_gbpusd_24_05_2016_1

Yen

On the 4-hour chart, the USD/JPY growth was stopped by a strong resistance at 110.60. The bearish influence resumed and the pair overpassed the level 109.80.

The bulls will regain the leadership if they break through the resistance at 109.80. Their target will be 110.60 and 111.40.

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_24_05_2016_1

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