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CURRENCIES TECHNICAL ANALYSIS JUNE.17
2016-06-17 13:05:11
Euro
The 4-hour chart showed that the pair dropped to a minimum near 1.1130 on Thursday. During the decline, the currency demand has increased and the price rose to 1.1250. The analysts from Fort Financial Services said that the pair remained in the downwards trend.
The bulls will maintain the leadership if they break through the resistance at 1.1250. Their target will be 1.1300 and 1.1370.
The bears will regain the initiative if they break through the support at 1.1200. Their target will be 1.1130 and 1.1070.
Pound
The British currency renewed the minimum of the year after it tested the support levels 1.4150 and 1.4060 on the 4-hour time-frame. At the end of the trading session, the pair quotes returned to 1.4240.
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
The pair USD/JPY continued to decline on the 4-hour chart. Yesterday, the pair overpassed support levels at 105.00 and 104.50. The bears dropped the price to 103.50, however the flow brought the price to 104.50. The analysts from FortFS said that the bears dominated the pair.
The bulls will regain the leadership if they break through the resistance at 104.50. Their target will be 105.30 and 106.00.
The bears will maintain the initiative if they break through the support at 103.50. Their target will be 102.50.
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