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Currencies TECHNICAL ANALYSIS MAY.30

Euro

The 4-hour chart showed that the pair EUR/USD was traded under pressure. The Support Level at 1.1130 was strongly tested during the decline . The analysts from Fort Financial Services said that the trades ended in the area of 1.1113.

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.

technical_eurusd_30_05_2016

Pound

At the end last week, an impulse of a correcting decline was raised on the 4-hour time-frame, due to the fact that the pair was overbought. The return of the bearish influence to the pair led to pass the level 1.4670.

The bulls will regain the leadership if they break through the resistance at 1.4670. Their target will be 1.4760 and 1.4880.

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

technical_gbpusd_30_05_2016

Yen

On the 4-hour chart we observed the growth of the US dollar against the yen right after a consolidation. The analysts from FortFS said that the growth led to the breakthrough of the resistance at 109.80.

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.

technical_usdjpy_30_05_2016

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