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CURRENCIES TECHNICAL ANALYSIS JULY.29

Euro

Yesterday, the pair EUR/USD rose on the H4 chart and passed the levels 1.1000 and 1.1050. Near 1.1130, the trading instrument fell under the sales wave and the quotes dropped to 1.1050. The analyst from Fort Financial Services said that, technically the pair was overbought.

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_29_07_2016

Pound

The 4-hour time-frame showed that the pound attempted to return to the resistance at 1.3300, but it was a short-term growth. At the end of trading the price returned to the 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_29_07_2016

Yen

The pair USD/JPY moved over to decrease on the 4-hour chart because of the strong Japanese yen. Sellers successfully passed the level 105.30. Trades ended with a consolidation near support at 104.50, the analyst from FortFS said.

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_29_07_2016

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