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CURRENCIES TECHNICAL ANALYSIS AUGUST.08

Euro

The US dollar strengthened its positions against the euro on the 4-hour chart. Sellers passed the level 1.1130 and approached the level 1.1050. The analysts from Fort Financial Services said the pair was highly oversold.

The bulls will regain the leadership if they break through the resistance at 1.1130. Their target will be 1.1200 and 1.1270.

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_08_08_2016

Pound

The H4 time-frame showed that the dollar was stronger than the British pound. After consolidation above 1.3100 the pair GBP/USD passed it and stabilized below.

The bulls will regain the leadership if they break through the resistance at 1.3100. Their target will be 1.3300 and 1.3500.

The bears will maintain the initiative if they break through the support at 1.2900. Their target will be 1.2700.

technical_gbpusd_08_08_2016

Yen

The 4-hour chart showed that the Japanese currency gave up on some of its positions in the favor of the US dollar, and played back some of the losses. The buyers broke through 101.40 empowering the bullish sentiment within the pair, said the analysts from FortFS.

The bulls will maintain the leadership if they break through the resistance at 102.50. Their target will be 103.50 and 104.50.

The bears will regain the initiative if they break through the support at 101.40. Their target will be 100.40 and 99.00.

technical_usdjpy_08_08_2016

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