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CURRENCIES TECHNICAL ANALYSIS AUGUST.04

Euro

The euro weakened against the dollar on the H4 chart. Sellers dropped the price below 1.1200. The analysts from Fort Financial Services said that from a technical point of view, the background remained neutral.

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

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

technical_eurusd_04_08_2016_1

Pound

The pair GBP/USD developed an upward trend on the H4 time-frame. The buyers managed to overpass the resistance at 1.3300 and trades were in a consolidation mode.

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

The bears will regain the initiative if they break through the support at 1.3300. Their target will be 1.3100 and 1.2900.

technical_gbpusd_04_08_2016_1

Yen

Yesterday, yen growth against the US dollar slowed down on the 4-hour chart. The buyers attempted to raise the price and tested the resistance at 101.40, the analysts from FortFS said.

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

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

technical_usdjpy_04_08_2016_1

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