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CURRENCIES TECHNICAL ANALYSIS JULY.20

Euro

The euro weakened against the dollar on the H4 chart. Sellers passed the level 1.1050. The decrease slowed down near support at 1.1000. The analyst from Fort Financial Services said that the pair was oversold.

The bulls will regain the leadership if they break through the resistance at 1.1050. Their target will be 1.1130 and 1.1200.

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

technical_eurusd_20_07_2016

Pound

The 4-hour chart showed a decrease of the British currency against the US dollar. The growth driver faded near 1.3300 and the pair turned around ending the trades near 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_20_07_2016

Yen

The pair USD/JPY continued to move upwards on the H4 chart. The buyers have successfully passed the level 106.00. The pair approached closer to the overbought line, the analysts from FortFS said.

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

The bears will regain the initiative if they break through the support at 106.00. Their target will be 105.30 and 104.50.

technical_usdjpy_20_07_2016_1

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