14.01.201908:17 Forex Analysis & Reviews: Fractal analysis of major currency pairs for January 14

Dear colleagues.

For the currency pair Euro / Dollar, the price forms a downward structure of January 10 in the correction of the upward cycle. For the currency pair Pound / Dollar, we should continue the development of the ascending structure from January 2 and we consider the downward movement as a correction after the breakdown of 1.2875. For the currency pair Dollar / Franc, the development of the ascending structure of January 10 is expected after the breakdown of 0.9880. For the currency pair Dollar / Yen, the price is in the area of the downward structure of January 8. We expect further downward movement after the breakdown of 107.96 and the level of 108.70 is the key support. For the currency pair Euro / Yen, we expect further uptrend after the breakdown of 125.15. For the currency pair Pound / Yen, we also continue to follow the development of the upward structure from January 3 and the level of 139.50 is the key resistance.

Forecast for January 14:

Analytical review of H1-scale currency pairs:

For the currency pair Euro / Dollar, the key levels on the H1 scale are 1.1660, 1.1625, 1.1578, 1.1554, 1.1516, 1.1456, 1.1427 and 1.1404. Here, the price is in deep correction from the rising structure on January 2 and forms the potential for the bottom of January 10. The continuation of the upward movement is expected after the breakdown of 1.1516. In this case, the first target is 1.1554. The short-term upward movement is possible in the range of 1.1554 - 1.1578 and the breakdown of the latter value should be accompanied by a pronounced upward movement. Here, the target is 1.1625. The potential value for the top is considered the level of 1.1660, after reaching which we expect a consolidated movement, as well as a departure to a correction.

The level of 1.1456 is the key support for the top. Its price passage will have to develop a downward movement. In this case, the first goal is 1.1427 and in the range of 1.1427 - 1.1404 is the consolidation.

The main trend is the ascending structure of January 2, the stage of deep correction.

Trading recommendations:

Buy 1.1516 Take profit: 1.1554

Buy 1.1580 Take profit: 1.1625

Sell: 1.1452 Take profit: 1.1430

Sell: Take profit:

For the currency pair Pound / Dollar, the key levels on the H1 scale are 1.3105, 1.3006, 1.2960, 1.2875, 1.2813, 1.2779, 1.2726 and 1.2674. Here, we are following the ascending structure of January 2. An upward movement is expected after the breakdown of 1.2875. In this case, the target is 1.2960 and in the range of 1.2960 - 1.3006 is the price consolidation. The potential value for the top is considered the level of 1.3105, upon reaching which we expect a rollback downwards.

The short-term downward movement is possible in the range of 1.2813 - 1.2779 and the breakdown of the latter value will lead to a prolonged correction. Here, the target is 1.2726 and this level is the key support for the top. Its breakdown will have to form a downward structure. In this case, the potential target is 1.2674.

The main trend is the ascending structure of January 2.

Trading recommendations:

Buy: 1.2877 Take profit: 1.2960

Buy: 1.2962 Take profit: 1.3004

Sell: 1.2813 Take profit: 1.2780

Sell: 1.2777 Take profit: 1.2728

For the currency pair Dollar / Franc, the key levels on the H1 scale are 0.9951, 0.9930, 0.9879, 0.9857, 0.9816, 0.9796 and 0.9767. Here, the price forms a pronounced ascending structure from January 10. The short-term upward movement is possible in the range of 0.9857 - 0.9879 and the breakdown of the latter value should be accompanied by a pronounced upward movement. Here, the target is 0.9930. The potential value for the top is considered the level of 0.9951, upon reaching which we expect a rollback downwards.

The short-term downward movement is possible in the range of 0.9816 - 0.9796 and the breakdown of the latter value will lead to a prolonged correction. Here, the target is 0.9767 and this level is the key support for the upward structure.

The main trend is the formation of the ascending structure from January 10.

Trading recommendations:

Buy: 0.9857 Take profit: 0.9876

Buy: 0.9882 Take profit: 0.9930

Sell: 0.9816 Take profit: 0.9798

Sell: 0.9794 Take profit: 0.9768

For the currency pair Dollar / Yen, the key levels on the scale of H1 are 108.69, 108.47, 108.29, 107.96, 107.66 and 107.25. Here, we are following the descending structure of January 8 on the scale of H1. We expect the downward movement to continue after the breakdown of 107.96. In this case, the target is 107.66 and price consolidation is near this level. A potential value for the bottom is considered to be the level of 107.25, a pronounced movement to which is expected after the breakdown of 107.65.

The short-term upward movement is possible in the range of 108.47 - 108.69 and the breakdown of the latter value will have to develop an upward trend. Here, the potential target is 109.08, up to this level, we expect the structure to be expressed for the top.

The main trend is the downward structure of January 8.

Trading recommendations:

Buy: 108.49 Take profit: 108.69

Buy: 108.72 Take profit: 109.06

Sell: 107.96 Take profit: 107.68

Sell: 107.64 Take profit: 107.27

For the currency pair Canadian dollar / Dollar, the key levels on the H1 scale are 1.33.95, 1.3320., 1.3271, 1.3201, 1.3150 and 1.3065. Here, we continue to monitor the downward structure of December 31. At the moment, the price is in the correction and in the range of 1.3201 - 1.3150, we expect a short-term downward movement, as well as consolidation. The potential value for the bottom is considered the level of 1.3065, after reaching which we expect a rollback to the correction.

The short-term upward movement is possible in the range of 1.3271 - 1.3320 and the breakdown of the latter value will lead to an in-depth correction. Here, the target is 1.3395 and this level is the key support for the downward structure.

The main trend is the downward cycle of December 31, the stage of correction.

Trading recommendations:

Buy: 1.3271 Take profit: 1.3320

Buy: 1.3330 Take profit: 1.3395

Sell: 1.3201 Take profit: 1.3155

Sell: 1.3145 Take profit: 1.3070

For the currency pair Australian dollar / Dollar, the key levels on the H1 scale are 0.7391, 0.7313, 0.7270, 0.7238, 0.7180, 0.7152 and 0.7113. Here, we are following the ascending structure of January 3. The short-term upward movement is possible in the range of 0.7238 - 0.7270 and the breakdown of the latter value will lead to the movement to the level of 0.7313, near which consolidation is expected. The potential value for the top is considered to be the level of 0.7391, we expect a movement to this level after the breakdown of 0.7315.

The short-term downward movement is possible in the range of 0.7180 - 0.7152 and the breakdown of the latter value will lead to a prolonged correction. Here, the target is 0.7113 and this level is the key support for the upward structure.

The main trend is the ascending structure of January 3.

Trading recommendations:

Buy: 0.7238 Take profit: 0.7270

Buy: 0.7273 Take profit: 0.7312

Sell: 0.7180 Take profit: 0.7155

Sell: 0.7150 Take profit: 0.7120

For the currency pair Euro / Yen, the key levels on the H1 scale are 127.22, 126.70, 125.79, 125.15, 124.22, 123.74 and 123.05. Here, we continue to monitor the ascending structure of January 3. An upward movement is expected after the breakdown of 125.15. In this case, the target is 125.79 and price consolidation is near this level. The breakdown of 125.80 must be accompanied by a pronounced upward movement. Here, the goal is 126.70. The potential value for the top is considered the level of 127.22, 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 124.22 - 123.74 and the breakdown of the latter value will lead to a prolonged correction. Here, the target is 123.05 and this level is the key support for the upward structure.

The main trend is the ascending structure of January 3.

Trading recommendations:

Buy: 125.15 Take profit: 125.76

Buy: 125.82 Take profit: 126.70

Sell: 124.20 Take profit: 123.78

Sell: 123.70 Take profit: 123.10

For the currency pair Pound / Yen, the key levels on the H1 scale are 141.90, 140.50, 139.49, 137.49, 136.81 and 135.70. Here, we are following the development of the ascending structure of January 3. The continuation of the movement upward is expected after the breakdown of 139.50. In this case, the first target is 140.50 and consolidation is near this level. The potential value for the top is considered the level of 141.90, upon reaching which we expect a rollback downwards.

The short-term downward movement is possible in the range of 137.49 - 136.81 and the breakdown of the latter value will lead to an in-depth correction. Here, the goal is 135.70 and this level is the key support for the top.

The main trend is the ascending structure of January 3.

Trading recommendations:

Buy: 139.55 Take profit: 140.50

Buy: 140.55 Take profit: 141.60

Sell: 137.45 Take profit: 136.85

Sell: 136.75 Take profit: 136.00