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CURRENCIES TECHNICAL ANALYSIS August.01

Euro

The H4 chart showed that euro strengthened against the US dollar at the end of last week. On the way up the pair passed the level 1.1130. The analysts from Fort Financial Services said that the pair was overbought.

The bulls will maintain the leadership if they break through the resistance at 1.1200. Their target will be 1.1270.

The bears will regain the initiative if they break through the support at 1.1130. Their target will be 1.1050 and 1.1000.

technical_eurusd_01_08_2016_1

Pound

At the end of last week, the sterling continued its attempt to strengthen against the dollar. Nevertheless, trades ended within the same range limited by 1.3100 - 1.3300.

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_01_08_2016_1

Yen

The analysts from FortFS said that the 4-hour chart showed that USD/YEN was traded downwards. The level 103.50 was passed under pressure and the support at 102.50 was tested.

The bulls will regain the leadership if they break through the resistance at 103.50. Their target will be 104.50 and 105.30.

The bears will maintain the initiative if they break through the support at 102.50. Their target will be 101.40 and 100.00.

technical_usdjpy_01_08_2016_1

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