CURRENCIES TECHNICAL ANALYSIS JUNE.16

Euro

When results of the Fed meeting were announced, the price hiked to the resistance at 1.1300 on the 4-hour chart. At this point, the bullish impulse faded and the price rolled back to 1.1250. The analysts from Fort Financial Services said, the currency instrument was traded downwards in general.

The bulls will regain the leadership if they break through the resistance at 1.1300. Their target will be 1.1370 and 1.1450.

The bears will maintain the initiative if they break through the support at 1.1250. Their target will be 1.1200 and 1.1130.

Pound

On the 4-hour time-frame, the pair GBP/USD rose to the resistance at 1.4240. However, the instrument remained at the minimums of the year.

The bulls will maintain the leadership if they break through the resistance at 1.4240. Their target will be 1.4320 and 1.4400.

The bears will regain the initiative if they break through the support at 1.4150. Their target will be 1.4060.

Yen

On the 4-hour chart, the pair USD/JPY suddenly dropped to 105.30. The analysts from FortFS said that, despite the increase to the resistance at 106.00, the pair remained in the downward trend.

The bulls will regain the leadership if they break through the resistance at 106.00. Their target will be 107.00 and 108.00.

The bears will maintain the initiative if they break through the support at 105.30. Their target will be 104.50.

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