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CURRENCIES TECHNICAL ANALYSIS AUGUST.10

Euro

The 4-hour time-frame showed that the EUR/USD pair remained near minimum levels. The attempt to raise the price above resistance at 1.1130 was unsuccessful. The analysts from FortFS said the pair started to move out of the oversold zone.

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_10_08_2016_1

Pound

The pound continued to trade under pressure on the H4 chart. The pair approached the support at 1.2900.

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_10_08_2016_1

Yen

The dollar strengthened against the yen on the H4 chart. The buyers encountered a strong obstacle at 102.50 which resulted in the development of the downward trend. The analysts from FortFS said that the bearish sentiment influenced the pair.

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

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

technical_usdjpy_10_08_2016_1

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