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CURRENCIES TECHNICAL ANALYSIS June.01

Euro

The 4-hour chart showed that after breaking through the resistance at 1.1130 the pair developed a sideways movement awaiting for new incentives. The analysts from Fort Financial Services said that the currency pair ended the Tuesday session at 1.1132.

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_01_06_2016_1

Pound

On the 4-hour time-frame GBP/USD pair was highly volatile on Tuesday. The US currency strengthened against the sterling and that resulted in the breakthrough of support at 1.4560. The bears took control over the situation in the pair.

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_01_06_2016_1

Yen

The quotes of the pair USD/JPY decreased on the 4-hour chart. The pair moved to a corrective decline after the large-scale buys made earlier. The analysts from FortFS said that a further decline of majors was stopped by the support at 110.60.

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

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

technical_usdjpy_01_06_2016_1

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