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CURRENCIES TECHNICAL ANALYSIS AUGUST.11

Euro

The 4-hour chart showed that EUR/USD quotes rose above 1.1130 and approached the other resistance level. The analysts from Fort Financial Services said that the pair entered the overbought zone and was traded near the critical line.

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_11_08_2016

Pound

The pair GBP/USD remained under pressure on the H4 chart and was traded below 1.3100. Technically, the pair was dominated by the bearish sentiment.

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_11_08_2016

Yen

The H4 time-frame showed that the pair USD/JPY was traded under pressure and it broke through the support at 101.40. At the end of the trading session, the currency pair formed a consolidation range, said 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_11_08_2016

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