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CURRENCIES TECHNICAL ANALYSIS AUGUST.03

Euro

The pair EUR/USD developed an upward dynamic on the H4 chart. The buyers passed the level 1.1200 and stabilized above this level. The analysts from Fort Financial Services said that the pair was highly overbought.

The bulls will maintain the leadership if they break through the resistance at 1.1270. Their target will be 1.1300.

The bears will regain the initiative if they break through the support at 1.1200. Their target will be 1.1130 and 1.1050.

technical_eurusd_03_08_2016

Pound

The H4 time-frame showed stronger pound positions against the US dollar. The buyers tested the level 1.3300. The pair approached the critical overbought line.

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_03_08_2016

Yen

The Japanese yen continued to strengthen its positions against the dollar on the 4-hour chart. Sellers successfully passed the level 101.40 which was also confirmed by the analysts from FortFS.

The bulls will regain the leadership if they break through the resistance at 101.40. Their target will be 102.50 and 103.50.

The bears will maintain the initiative if they break through the support at 100.40. Their target will be 99.00.

technical_usdjpy_03_08_2016

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