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CURRENCIES TECHNICAL ANALYSIS JUNE.03

Euro

The 4-hour time-frame showed a decrease of the currency instrument after it strengthened at the previous session. The bulls could not overpass the resistance at 1.1200 upwards and turned around towards a correction. The analysts from Fort Financial Services said that the sellers returned to the market.

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_03_06_2016_1

Pound

The pair GBP/USD has slightly increased on the 4-hour chart. During the session, the pair held multi-directional trades and formed a range limited by 1.4400-1.4480.

The bulls will maintain the leadership if they break through the resistance at 1.4480. Their target will be 1.4560 and 1.4670.

The bears will regain the initiative if they break through the support at 1.4400. Their target will be 1.4320 and 1.4240.

technical_gbpusd_03_06_2016_1

Yen

The volatile instrument USD/JPY formed a downward trend on the 4-hour time-frame. The bears dominated the pair and broke through the support at 109.00. The analysts from FortFS said that the yen strengthened against the US dollar.

The bulls will regain the leadership if they break through the resistance at 109.00. Their target will be 109.80 and 110.60.

The bears will maintain the initiative if they break through the support at 108.20. Their target will be 107.40.

technical_usdjpy_03_06_2016_1

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