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CURRENCIES TECHNICAL ANALYSIS JULY.18

Euro

The 4-hour chart showed a considerable drop of the euro against the US dollar. The growth impulse faded near 1.1130 and the quotes headed downwards. The level 1.1050 was passed on the way down. The analysts from Fort Financial Services said that sellers ruled the market.

The bulls will regain the leadership if they break through the resistance at 1.1050. Their target will be 1.1130 an d1.1200.

The bears will maintain the initiative if they break through the support at 1.1000. Their target will be 1.0900 and 1.0830.

technical_eurusd_18_07_2016

Pound

The H4 chart showed the development of a downward trend of the pair GBP/USD. After an unsuccessful attempt to pass the level 1.3500 upwards, the quotes started to decrease. The sellers have successfully passed the level 1.3300 and strengthened by approaching the next support at 1.3100.

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

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

technical_gbpusd_18_07_2016

Yen

The yen regained some of its lost positions to the US dollar on the 4-hour time-frame. The analysts from FortFS said that at the end of last week the pair fell under pressure, and was traded downwards breaking through 105.30.

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

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

technical_usdjpy_18_07_2016

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