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CURRENCIES TECHNICAL ANALYSIS MAY.31

Euro

The bullish influence returned to the pair EUR/USD and the price overpassed the resistance at 1.1130 on the 4-hour chart. The analysts from Fort Financial Services said that at the end of trading the pair started to consolidate.

The bulls will maintain the leadership if they break through the resistance at 1.1200. Their target will be 1.1250 and 1.1300.

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

technical_eurusd_31_05_2016_1

Pound

Due to bank holidays in the USA and the United Kingdom, financial markets were closed and the pair trades were slightly volatile on the 4-hour time-frame. The pair consolidated in the range limited by 1.4560 - 1.4670, however there was a small growth at the end of trading.

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

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_31_05_2016_1

Yen

On the 4-hour time-frame the US dollar strengthened against the yen. As a result of the bulls’ activity, the level at 110.60 was overpassed. The closest resistance at 111.40 was taken as an obstacle by the buyers and that caused the price to rollback. The analysts from FortFS said that at the end of trading the pair started to consolidate.

The bulls will maintain the leadership if they break through the resistance at 111.40. Their target will be 112.20.

The bears will regain the initiative if they break through the support at 110.60. Their target will be 109.80 and 109.00.

technical_usdjpy_31_05_2016_1

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