Friday 4 March 2016

Daily technical forecasts for March 4

EUR/USD

The single currency recorded a significant increase against the US dollar on Thursday. The session started at 1.0867 and then the price went down, reaching the lowest level for the day at 1.0853. Later the pair reversed direction and ultimately the euro closed at a rate of 1.0956. Recently reached levels confirm the positive attitudes that will probably leave the bulls in a leading position.



Support: 1.0810; 1.0730;

Resistance: 1.0975; 1.1100; 1.1286;

GBP/USD

Yesterday the British pound recorded significant increase against the US dollar. After a volatile session, the pair added 97 pips at a closing price of 1.4173. Price managed to break through levels at 1.4100 and went up. If the bullish trend continues, most likely will test the first resistance at 1.4360.



Support: 1.4100; 1.3709; 1.3568;

Resistance: 1.4360; 1.4592;

USD/JPY

The pair recorded a modest increase. The session started at a price of 113.45 and after diverse trading throughout the day eventually finished at a price of 113.66. The graphics continue to evolve over moving averages, while the index of relative strength remained on neutral territory. Continuing bullish dominance test will result in levels of 114.00.



Support: 110.000;

Resistance: 114.00; 116.00; 117.19;

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