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04.02.2019 08:24 AM
Fractal analysis of major currency pairs on February 4

Dear colleagues.

For the currency pai Euro / Dollar r, we should continue moving upwards after the breakdown of 1.1485 and the level of 1.1415 is the key support. For the currency pair Pound / Dollar, an upward movement is possible after a breakdown of 1.3197 - 1.3245 and level of 1.3058 is the key support. For the currency pair Dollar / Franc, the price forms a downward structure of January 30 and the level of 0.9965 is the key support for this structure. For the currency pair Dollar / Yen, the price forms a pronounced ascending structure of January 31 and the development of which is expected after the breakdown of 109.98. For the currency pair Euro / Yen, the upward cycle development from January 24 is expected to continue after the breakdown of 125.90. For the currency pair Pound / Yen, the price has a small local structure to continue the upward trend from February 1.

Forecast for February 4:

Analytical review of H1-scale currency pairs:

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For the currency pair Euro / Dollar, the key levels on the H1 scale are 1.1594, 1.1548, 1.1514, 1.1485, 1.1446, 1.1415 and 1.1387. Here, we continue to follow the development of the ascending structure from January 24. At the moment, the price is in correction. An upward movement is expected after the breakdown of 1.1485. In this case, the target is 1.1514. The short-term upward movement is possible in the range of 1.1514 - 1.1548 and the breakdown of the latter value will lead to a movement to the potential target of 1.1594, upon reaching which we expect a rollback downwards.

The short-term downward movement is possible in the range of 1.1446 - 1.1415 and the breakdown of the latter value will lead to the formation of the initial conditions for the downward cycle. In this case, the goal is 1.1387.

The main trend is the ascending structure of January 24, the stage of correction.

Trading recommendations:

Buy 1.1485 Take profit: 1.1512

Buy 1.1516 Take profit: 1.1546

Sell: 1.1444 Take profit: 1.1415

Sell: 1.1413 Take profit: 1.1390

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For the currency pair Pound / Dollar, the key levels on the H1 scale are 1.3431, 1.3350, 1.3245, 1.3197, 1.3118, 1.3058 and 1.2981. Here, we continue to monitor the rising structure of January 15. At the moment, the price is in correction. An upward movement is expected after the price passes the range of 1.3197 - 1.3245. In this case, the target is 1.3350, and consolidation is near this level. The potential value for the top is considered the level of 1.3431, upon reaching which we expect a rollback downwards.

The consolidated movement is expected in the range of 1.3118 - 1.3058 and the breakdown of the latter value will lead to a deep correction. Here, the target is 1.2981 and this level is the key support for the upward structure.

The main trend is the local structure for the top of January 15, the stage of correction.

Trading recommendations:

Buy: 1.3245 Take profit: 1.3350

Buy: 1.3353 Take profit: 1.3430

Sell: Take profit:

Sell: 1.3055 Take profit: 1.2984

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For the currency pair Dollar / Franc, the key levels on the H1 scale are 0.9993, 0.9965, 0.9948, 0.9917, 0.9904, 0.9894, 0.9867, 0.9847 and 0.9822. Here, we are following the formation of the downward structure of January 30th. The continuation of the downward movement is expected after the breakdown of 0.9917. In this case, the target is 0.9904 and consolidation is near this level. The price passage of the range of 0.9904 - 0.9894 should be accompanied by a pronounced upward movement. Here, the goal is 0.9867 and in the range of 0.9867 - 0.9847 is the short-term downward movement. The potential value for the bottom is considered the level of 0.9822, upon reaching which we expect a rollback to the top.

The short-term upward movement is expected in the range of 0.9948 - 0.9965 and the breakdown of the latter value will have to form an ascending structure. Here, the target is 0.9993.

The main trend is the formation of a downward structure of January 30.

Trading recommendations:

Buy: Take profit:

Buy: 0.9968 Take profit: 0.9990

Sell: 0.9917 Take profit: 0.9904

Sell: 0.9892 Take profit: 0.9870

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For the currency pair Dollar / Yen, the key levels on the scale of H1 are 110.66, 110.40. 109.98, 109.64, 109.29, 109.12, 108.89 and 108.48. Here, the price forms a pronounced ascending structure of January 31. An upward movement is expected after breakdown of 109.64. In this case, the goal is 109.98 and price consolidation is near this level. The breakdown of the level of 109.98 should be accompanied by a pronounced upward movement. Here, the target is 110.40. The potential value for the top is considered the level of 110.66, after reaching this level, we expect a rollback down.

The short-term downward movement is possible in the range of 109.29 - 109.12 and the breakdown of the latter value will lead to a prolonged correction. Here, the goal is 108.89 and this level is the key support for the upward structure. Its breakdown will have to form a downward structure. In this case, the first goal is 108.48.

The main trend is the formation of the ascending structure of January 31.

Trading recommendations:

Buy: 109.65 Take profit: 109.96

Buy: 110.00 Take profit: 110.40

Sell: 109.29 Take profit: 109.12

Sell: 109.10 Take profit: 108.90

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For the currency pair Canadian dollar / Dollar, the key levels on the H1 scale are 1.3190, 1.3139, 1.3114, 1.3074, 1.3026 and 1.2973. Here, we continue to monitor the downward structure of January 24. The continuation of the downward movement is expected after the breakdown of 1.3074. In this case, the goal is 1.3026 and price consolidation is near this level. The potential value for the bottom is considered the level of 1.2973, after reaching which we expect a rollback to the top.

The short-term uptrend is possible in the range of 1.3114 - 1.3139 and the breakdown of the latter value will lead to a deep correction. Here, the target is 1.3190 and this level is the key support for the downward structure.

The main trend is the downward structure of January 24.

Trading recommendations:

Buy: 1.3114 Take profit: 1.3137

Buy: 1.3141 Take profit: 1.3190

Sell: 1.3072 Take profit: 1.3030

Sell: 1.3025 Take profit: 1.2975

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For the currency pair Australian dollar / Dollar, the key levels on the H1 scale are 0.7359, 0.7336, 0.7296, 0.7267, 0.7225, 0.7208 and 0.7184. Here, we continue to monitor the rising structure of January 25. At the moment, the price is in the zone of correction. An upward movement is expected after breakdown of 0.7267. In this case, the target is 0.7296 and near this level is the price consolidation. The breakdown of the level of 0.7296 must be accompanied by a pronounced upward movement. Here, the target is 0.7336. The potential value for the top is considered the level of 0.7359, upon reaching which we expect a rollback downwards.

The short-term downward movement is possible in the range of 0.7225 - 0.7208 and the breakdown of the latter value will lead to an in-depth correction. Here, the target is 0.7184 and this level is the key support for the upward structure.

The main trend is the ascending structure of January 25, the stage of correction.

Trading recommendations:

Buy: 0.7268 Take profit: 0.7294

Buy: 0.7298 Take profit: 0.7336

Sell: 0.7225 Take profit: 0.7208

Sell: 0.7206 Take profit: 0.7184

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For the currency pair Euro / Yen, the key levels on the H1 scale are 126.89, 126.46, 125.89, 125.15, 124.91, 124.53 and 123.74. Here, we are following the development of the ascending structure from January 24. The continuation of the movement upward is expected after the breakdown of 125.90. In this case, the goal is 126.46 and near this level is the price consolidation. The potential value for the top is considered the level of 126.89, after reaching which we expect a consolidated movement, as well as a rollback to the top.

The short-term downward movement is possible in the range of 125.15 - 124.91 and the breakdown of the latter value will lead to a prolonged correction. Here, the goal is 124.53 and this level is the key support for the top. Its price will have a downward trend. In this case, the potential goal is 123.74.

The main trend is the local ascending structure of January 24.

Trading recommendations:

Buy: 125.90 Take profit: 126.44

Buy: 126.47 Take profit: 126.89

Sell: 125.15 Take profit: 124.91

Sell: 124.88 Take profit: 124.55

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For the currency pair Pound / Yen, the key levels on the H1 scale are 146.68, 145.74, 144.86, 144.00, 142.69, 142.12 and 141.37. Here we are following the development of the ascending structure of January 15. At the moment, the price has issued a small local structure for the top of February 1. The continuation of the upward movement is expected after the breakdown of 144.00. In this case, the first target is 144.86 and the breakdown of which will allow us to count on the movement to the level of 145.74. The potential value for the top is considered the level of 146.68, upon reaching which we expect consolidation, as well as a rollback to the top.

The short-term downward movement is possible in the range of 142.69 - 142.12 and the breakdown of the last value will lead to an in-depth correction. Here, the target is 141.37 and this level is the key support for the top.

The main trend is the local ascending structure of January 15.

Trading recommendations:

Buy: 144.00 Take profit: 144.80

Buy: 144.88 Take profit: 145.74

Sell: 142.69 Take profit: 142.14

Sell: 142.10 Take profit: 141.40

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