On the 4-hour chart, the quotes of the pair EUR/USD headed up after a downward correction. The support at 1.1250 served as a foothold. The analysts from Fort Financial Services said that the sellers restrained a further growth near resistance at 1.1300.
The bulls will maintain the leadership if they break through the resistance at 1.1300. Their target will be 1.1370 and 1.1450.
The bears will regain the initiative if they break through the support at 1.1250. Their target will be 1.1200 and 1.1130.
It was clearly seen on the 4-hour time-frame that the pair was under the bears’ influence. The buyers attempted to recover the losses by rebounding from the support at 1.4150 however, the price reached the level of 1.4320 but then declined back to 1.4240.
The bulls will regain the leadership if they break through the resistance at 1.4240. Their target will be 1.4320 and 1.4400.
The bears will maintain the initiative if they break through the support at 1.4150. Their target will be 1.4060.
The currency instrument was traded under pressure on the 4-hour time-frame. The Japanese yen was at demand and strengthened its positions which allowed to test support at 106.00. The analysts from FortFS said that the market remained in the downward trend.
The bulls will regain the leadership if they break through the resistance at 107.00. Their target will be 108.00 and 109.00.
The bears will maintain the initiative if they break through the support at 106.00. Their target will be 105.00.
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