The 4-hour time-frame showed that sellers were active and pushed through the bottom level at 1.1200 of the earlier formed range. The analysts from Fort Financial Services said that the pair continued downwards trades.
The bulls will regain the leadership if they break through the resistance at 1.1200. Their target will be 1.1250 and 1.1300.
The bears will maintain the initiative if they break through the support at 1.1130. Their target will be 1.1070.
The 4-hour time-frame showed that after consolidation under 1.4480, buyers’ influence returned to the pair of majors which led to a sharp increase, breaking through 1.4560. This created the sensation that the pair is overbought.
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.
The 4-hour chart showed that, sellers met a strong support at 109.00 and the quotes changed their path towards north. The analysts from FortFS said that the bulls were activated after the resistance at 109.80 was overpassed.
The bulls will maintain the leadership if they break through the resistance at 110.60. Their target will be 111.40.
The bears will regain the initiative if they break through the support at 109.80. Their target will be 109.00 and 108.20.
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