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CURRENCIES TECHNICAL ANALYSIS July.13

Euro

The H4 chart showed that the euro grew against the US dollar and stepped up from 1.1050. However, the bears met the resistance at 1.1130 and the price rolled back down. The analyst from Fort Financial Services said that the pair started to exit the overbought zone.

The bulls will regain the leadership if they break through the resistance at 1.1130. Their target will be 1.1200 and 1.1300.

The bears will maintain the initiative if they break through the support at 1.1050. Their target will be 1.1000 and 1.0900.

technical_eurusd_13_07_2016_1

Pound

The British currency has considerably strengthened against the US dollar on the 4-hour chart. The buyers passed the level 1.3100 and approached the level 1.3300. The pair is highly overbought.

The bulls will maintain the leadership if they break through the resistance at 1.3300. Their target will be 1.3500 and 1.3700.

The bears will regain the initiative if they break through the support at 1.3100. Their target will be 1.2900 and 1.2700.

technical_gbpusd_13_07_2016_3

Yen

The 4-hour time-frame showed that the Japanese currency continued to give up on its positions against the dollar. On the way up, the bulls passed the levels 103.50 and 104.50. The analysts from FortFS said that the instrument was overbought.

The bulls will maintain the leadership if they break through the resistance at 105.30. Their target will be 106.00 and 107.00.

The bears will regain the initiative if they break through the support at 104.50. Their target will be 103.50 and 102.50.

technical_usdjpy_13_07_2016_1

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