Outlook for January 4:
Analytical overview of currency pairs on the H1 scale:
The key levels for the Euro/Dollar pair are: 1.2424, 1.2380, 1.2347, 1.2299, 1.2260, 1.2235, and 1.2207. Following the development of the ascending structure of December 21, we see the potential of the continuation of the upward movement after the breakdown of 1.2300 with the target at 1.2347. A short-term upward movement, as well as consolidation in the 1.2347 – 1.2380 corridor, is possible. The potential target for growth is the level of 1.2424, after which a consolidation, as well as a pullback downwards, is possible.
A short-term downward movement is possible in the corridor 1.2260 – 1.2235, a breakdown of the last value will lead to a deep correction with the target at 1.2207, this level is a key support for growth.
The main trend is the upward structure from December 21.
Trading recommendations:
Buy: 1.2300 Take profit: 1.2345
Buy: 1.2350 Take profit: 1.2380
Sell: 1.2260 Take profit: 1.2237
Sell: 1.2233 Take profit: 1.2208
The key levels for the Pound/Dollar pair are: 1.3921, 1.3809, 1.3731, 1.3612, 1.3561, and 1.3471. Following the ascending structure of December 21, we expect a movement to the level of 1.3731. A short-term upward movement, as well as consolidation, in the corridor 1.3731 – 1.3809, is expected. The potential target for growth the level of 1.3921, after which a pullback downwards is expected.
We expect a short-term downward movement in the range of 1.3612-1.3561, a breakdown of the last value will lead to a deep correction with the potential target at 1.3471.
The main trend is the upward structure of December 21
Trading recommendations:
Buy: 1.3733 Take profit: 1.3807
Buy: 1.3811 Take profit: 1.3920
Sell: 1.3611 Take profit: 1.3562
Sell: 1.3560 Take profit: 1.3471
The key levels for the Dollar/Franc pair are: 0.8865, 0.8846, 0.8830, 0.8793, 0.8774, 0.8747, and 0.8732. Following the downward structure from December 28, a short-term downward movement is expected in the corridor 0.8793 – 0.8774, a breakout of the last value will lead to a pronounced downward movement with the target at 0.8747. The potential value for the decline is the level of 0.8732 at which consolidation is expected, as well as an upward pullback.
A short-term upward movement is possible in the 0.8830 – 0.8846 corridor, a breakout of the last value will lead to a deep correction with the potential target at 0.8865, this level is a key support for the downward structure.
The main trend is the descending structure from December 28
Trading recommendations:
Buy: 0.8830 Take profit: 0.8845
Buy: 0.8847 Take profit: 0.8865
Sell: 0.8793 Take profit: 0.8775
Sell: 0.8773 Take profit: 0.8747
The key levels for the Dollar/Yen pair are: 103.45, 103.22, 103.05, 102.76, 102.62, 102.24, 102.00, and 101.66. The continuation of the development of the downward structure from December 28 is expected after the price passes the noise range 102.76 - 102.62, in this case, the target is 102.24. A short-term downward movement, as well as consolidation in the corridor 102.24 - 102.0 is expected. The potential target for the decline is at 101.66, upon reaching which a consolidation, as well as an upward pullback, is expected.
A short-term upward movement is expected in the corridor 103.05 - 103.22, a breakdown of the last value will lead to a deep correction with the target at 103.45, this level is the key support for the downward structure from December 28.
Main trend: descending structure from December 28
Trading recommendations:
Buy: 103.05 Take profit: 103.21
Buy: 103.23 Take profit: 103.44
Sell: 102.61 Take profit: 102.25
Sell: 102.22 Take profit: 102.02
The key levels for the Canadian Dollar/US Dollar pair are: 1.2771, 1.2731, 1.2704, 1.2663, 1.2626, 1.2588, and 1.2552. Following the descending structure from December 22, we expect the downward movement to continue after the breakdown of 1.2663, with the target at 1.2626. A short-term downward movement, as well as consolidation, is expected in the 1.2626 – 1.2588 corridor. The potential target for the downward trend is at the level of 1.2552, after which an upward pullback is expected.
A short-term upward movement is expected in the corridor 1.2704 - 1.2731, a breakdown of the last value will lead to a deep correction with the target at 1.2771.
The main trend is the descending structure from December 22
Trading recommendations:
Buy: 1.2704 Take profit: 1.2730
Buy: 1.2733 Take profit: 1.2770
Sell: 1.2661 Take profit: 1.2627
Sell: 1.2624 Take profit: 1.2590
The key levels for the Australian Dollar/US Dollar pair are: 0.7824, 0.7793, 0.7743, 0.7706, 0.7683, 0.7657, and 0.7614.Following the ascending structure of December 21, we expect the upward movement to continue after the breakout of 0.7743 with the target at 0.7793. The potential value for the growth is the level of 0.7824, after which a consolidation, as well as a pullback downwards, is possible.
A short-term downward movement is expected in the 0.7706 - 0.7683 corridor, a breakdown of the last value will allow us to count on a movement to the level of 0.7657, the breakdown of which, in turn, will lead to a deep correction with the target at 0.7614, this level is the key support for the growth.
The main trend is the upward structure of December 21
Trading recommendations:
Buy: 0.7745 Take profit: 0.7791
Buy: 0.7793 Take profit: 0.7824
Sell: 0.7683 Take profit: 0.7658
Sell: 0.7655 Take profit: 0.7615
The key levels for the Euro/Yen pair are: 126.99, 126.69. 125.49, 126.11, 125.83, 125.62, 125.34, and 125.15. Following the development of the descending structure from December 29, we expect the continuation of the downward movement after the breakdown of 126.11 with the target at 125.83. A short-term downward movement, as well as consolidation, is expected in the corridor 125.83 - 125.62. The breakdown of the level of 125.62 will lead to a pronounced downward movement with the target at 125.34. The potential target for the decline is 125.15, after which we expect consolidation, as well as a pullback upwards.
A short-term upward movement is expected in the corridor 126.49 - 126.69, a breakdown of the last value will lead to a deep correction with the target at 126.99, this level is a key support for the decline.
The main trend is the descending structure from December 29
Trading recommendations:
Buy: 126.49 Take profit: 126.67
Buy: 126.71 Take profit: 126.98
Sell: 126.10 Take profit: 125.84
Sell: 125.61 Take profit: 125.35
The key levels for the Pound/Yen pair are: 143.04, 142.10, 141.41, 140.69, 139.63, and 138.88. Following the development of the upward cycle of December 21, we expect the continuation of the upward movement after the breakdown of 140.69 with the first target at 141.41. A short-term upward movement, as well as consolidation, is expected in the 141.41 - 142.10 corridor. The potential target for growth is at the level of 143.04, after which a consolidation, as well as a pullback downwards, is possible.
A short-term downward movement is expected in the corridor 139.63 - 138.88, hence we expect a key upward reversal. The breakdown of the level of 138.88 will be conducive to the development of a downward trend, in this case, the targets will be determined from the initial conditions on December 24.
The main trend is the upward structure of December 21, the stage of correction
Trading recommendations:
Buy: 140.70 Take profit: 141.40
Buy: 141.43 Take profit: 142.10
Sell: 139.61 Take profit: 138.90
Sell: Take profit:
