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CURRENCIES TECHNICAL ANALYSIS JUNE.06

Euro

The 4-hour time-frame showed a sharp growth of the pair EUR/USD. This was a result of the crashed dollar caused by the unexpected weak data. The increased activity of the buyers broke through a number of resistance levels at 1.1200, 1.1250 and 1.1300.

The bulls will maintain the leadership if they break through the resistance at 1.1370. Their target will be 1.1450.

The bears will regain the initiative if they break through the support at 1.1300. Their target will be 1.1250 and 1.1200.

technical_eurusd_06_06_2016_1

Pound

On the 4-hour chart, the pair met a strong support near 1.4400, after it headed up and overpassed the resistance at 1.4480. It tested from above the important level 1.4560, and the price dropped.

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 1.4320 and 1.4240.

technical_gbpusd_06_06_2016_1

Yen

The 4-hour time-frame captured the decline of the pair USD/JPY after the terrible data from the USA. The analysts from FortFS said that due to increased sales of the US currency, the support levels at 108.20 and 107.40 were overpassed.

The bulls will regain the leadership if they break through the resistance at 107.40. Their target will be 108.20 and 109.00.

The bears will maintain the initiative if they break through the support at 106.60. Their target will be 105.80.

technical_usdjpy_06_06_2016_1

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