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CURRENCIES TECHNICAL ANALYSIS AUGUST.30

Euro

The euro was under pressure on Monday and traded below 1.1200. Fort Financial Services believes that the instrument is oversold.

Bulls can return control if they break the resistance 1.1200. Buyers’ targets are 1.1070 and 1.1000.

Bears will have the ball if they break the support at 1.1130. The possible bears’ targets are 1.1070 and 1.1000.
30_08_2016 eurusd
Pound

The pound traded lower on Monday. Technically the instrument is under pressure. Sellers managed to push the below the mark 1.3100. Nevertheless, the market was low volatile due to the Banking holiday in the country.

To grow the pair needs to break the resistance 1.3100. Bulls’ targets are 1.3200 and 1.3360. Bulls will preserve control if they push the price below the support 1.3000. We believe that buyers will aim at 1.2870.
30_08_2016 gbpusd
Yen

The USD/JPY slowed down after a sharp last week rally. The growing momentum faded and the instrument consolidated at the reached highs. According to FortFS the pair traded below 102.50 on Monday.

We will consider buying USD/JPY if buyers break the level 102.50. Bulls’ targets are 103.50 and 104.50.

A downtrend will start as soon as the price drops below 101.40.
30_08_2016usdjpy

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