09.04.201905:29 Forex Analysis & Reviews: Fractal analysis of major currency pairs for April 9

Dear colleagues.

For the currency pair Euro/Dollar, we are following the development of the upward cycle of April 2 and the level of 1.1282 is the key resistance for the top. For the currency pair Pound/Dollar, the level of 1.3123 is the key support for the downward structure of April 4. For the currency pair Dollar/Franc, the resumption of the upward movement is expected after the breakdown of 1.0002. For the currency pair Dollar/Yen, the price is in the correction zone and forms the potential for the downward movement from April 5 and we expect the resumption of the upward movement after the breakdown of 111.81. For the currency pair Euro/Yen, we expect the move to the level of 125.93. For the currency pair Pound/Yen, the situation is in equilibrium: the rising structure of March 29 and the pronounced potential for the bottom of April 3.

Forecast for April 9:

Analytical review of H1-scale currency pairs:

For the currency pair Euro/Dollar, the key levels on the H1 scale are 1.1327, 1.1307, 1.1282, 1.1269, 1.1248, 1.1236 and 1.1218. We continue to monitor the formation of the upward structure of April 2. The short-term upward movement is expected in the area of 1.1269 – 1.1282 and the breakdown of the last value will allow us to count on the movement to the level of 1.1307. We consider the level of 1.1327 as the potential value for the top, after reaching which, we expect a rollback to the bottom.

The short-term downward movement is possible in the area of 1.1248 – 1.1236 and the breakdown of the last value will lead to a prolonged correction The goal is 1.1218 and this level is the key support for the top.

The main trend is the ascending structure of April 2.

Trading recommendations:

Buy 1.1270 Take profit: 1.1280

Buy 1.1284 Take profit: 1.1305

Sell: 1.1248 Take profit: 1.1237

Sell: 1.1234 Take profit: 1.1220

For the currency pair Pound/Dollar, the key levels on the H1 scale are 1.3123, 1.3088, 1.3059, 1.2984, 1.2959, 1.2924 and 1.2876. We continue to follow the formation of the downward structure of April 4. The short-term downward movement is expected in the area of 1.2984 – 1.2959. The breakdown of the last value will lead to the movement to the level of 1.2924 and we expect consolidation near this value. We consider the level of 1.2876 as a potential value for the bottom, from which we expect a correction.

The short-term upward movement is possible in the area of 1.3059 – 1.3088 and the breakdown of the last value will lead to a prolonged correction. The goal is 1.3123 and this level is the key support for the downward structure.

The main trend is the formation of a downward structure of April 4.

Trading recommendations:

Buy: 1.3060 Take profit: 1.3085

Buy: 1.3090 Take profit: 1.3120

Sell: 1.2984 Take profit: 1.2960

Sell: 1.2957 Take profit: 1.2926

For the currency pair Dollar/Franc, the key levels on the H1 scale are 1.0065, 1.0040, 1.0023, 1.0002, 0.9975, 0.9961 and 0.9938. The price is in the correction zone from the upward structure on March 27. We expect the continuation of the movement to the top after the breakdown of 1.0002. In this case, the first target is 1.0023 and in the area of 1.0023 – 1.0040 is the short-term upward movement, as well as consolidation. We consider the level of 1.0065 as a potential value for the top, upon reaching which, we expect consolidation, as well as a rollback to the bottom.

The consolidated movement is possible in the area of 0.9975 – 0.9961 and the breakdown of the last value will lead to a prolonged correction. The target is 0.9938 and this level is the key support for the top.

The main trend is the upward structure of March 27, the stage of correction.

Trading recommendations:

Buy: 1.0002 Take profit: 1.0020

Buy: 1.0025 Take profit: 1.0038

Sell: 0.9975 Take profit: 0.9964

Sell: 0.9958 Take profit: 0.9942

For the currency pair Dollar/Yen, the key levels on the scale of H1 are 112.69, 112.26, 112.05, 111.81, 111.34, 111.14 and 110.97. We are following the development of the upward structure of March 25. At the moment, the price is in correction and forms the potential for the downward movement of April 5. The resumption of the upward trend development is expected after the breakdown of 111.81. The first target is 112.05 and in the area of 112.05 – 112.26 is the short-term upward movement, as well as consolidation. We consider the level of 112.69 as a potential value for the top, after reaching which, we expect a rollback to the bottom.

The short-term downward movement is possible in the area of 111.34 – 111.14 and the breakdown of the last value will lead to the formation of pronounced initial conditions for the downward cycle. The potential target is 110.97.

The main trend is the upward structure of March 25, the stage of correction.

Trading recommendations:

Buy: 111.81 Take profit: 112.05

Buy: 112.07 Take profit: 112.24

Sell: 111.32 Take profit: 111.17

Sell: 111.13 Take profit: 110.98

For the currency pair Canadian Dollar/Dollar, the key levels on the H1 scale are 1.3361, 1.3340, 1.3324, 1.3296, 1.3268, 1.3246 and 1.3233. We are following the formation of the downward structure of April 5 after the abolition of the upward structure of April 3. We expect the movement to continue to the bottom after the breakdown of 1.3296. In this case, the target is 1.3268 and consolidation is near this level. We consider the level of 1.3233 as a potential value for the bottom, upon reaching which, we expect consolidation in the area of 1.3246 – 1.3233, as well as a departure to the correction.

The short-term upward movement is possible in the range of 1.3324 - 1.3340 and the breakdown of the last value will lead to the development of a protracted correction. The target is 1.3360 and this level is the key support for the downward structure.

The main trend is the formation of the downward potential of April 5.

Trading recommendations:

Buy: 1.3324 Take profit: 1.3340

Buy: 1.3342 Take profit: 1.3360

Sell: 1.3294 Take profit: 1.3268

Sell: 1.3266 Take profit: 1.3246

For the currency pair Australian Dollar/Dollar, the key levels on the H1 scale are 0.7202, 0.7183, 0.7153, 0.7131, 0.7106, 0.7092, 0.7074 and 0.7048. We continue to monitor the formation of the upward structure of April 2. We expect the movement to continue to the top after the breakdown of 0.7131. In this case, the target is 0.7153 and consolidation is near this level. The breakdown of the level of 0.7155 will lead to the development of a pronounced movement. The target is 0.7183. We consider the level of 0.7202 as a potential value for the top, upon reaching which, we expect consolidation, as well as a rollback to the bottom.

The consolidated movement is possible in the range of 0.7106 – 0.7092 and the breakdown of the last value will lead to a prolonged correction. The goal is 0.7074 and this level is the key support for the top.

The main trend is the formation of initial conditions for the top of April 2.

Trading recommendations:

Buy: 0.7131 Take profit: 0.7150

Buy: 0.7155 Take profit: 0.7180

Sell: 0.7090 Take profit: 0.7077

Sell: 0.7070 Take profit: 0.7050

For the currency pair Euro/Yen, the key levels on the H1 scale are 126.75, 126.27, 125.93, 125.43, 125.01, 124.78 and 124.44. We are following the development of the upward cycle of March 28. At the moment, we expect movement to the level of 125.93 and in the area of 125.93 – 126.27 is the short-term upward movement, as well as consolidation. We consider the level of 126.75 as a potential value for the top, upon reaching which, we expect a rollback to the bottom.

The short-term downward movement is possible in the area of 125.01 - 124.78 and the breakdown of the latter value will lead to a prolonged correction. In this case, the target is 124.44 and this level is the key support for the top.

The main trend is the upward cycle of March 28.

Trading recommendations:

Buy: 125.45 Take profit: 125.90

Buy: 125.95 Take profit: 126.20

Sell: 125.00 Take profit: 124.80

Sell: 124.75 Take profit: 124.50

For the currency pair Pound/Yen, the key levels on the H1 scale are 149.76, 148.87, 148.20, 147.24, 146.61, 146.09, 144.93 and 143.83. The price entered an equilibrium state: the initial conditions for the top of March 29 and the pronounced potential for the downward movement of April 3. The short-term upward movement is possible in the area of 146.09 - 146.61. The continuation of the main upward trend development is expected after the breakdown of 146.61. The first target is 147.24 and the breakdown of which, in turn, should be accompanied by a pronounced movement to the top. In this case, the target is 148.20. We expect the short-term upward movement in the area of 148.20 – 148.87, hence the probability of the price going to a correction is also high. We consider the level of 149.76 as a potential value for the top, from which we expect a rollback to the bottom.

The development of the downward structure of April 3 is expected after the breakdown of 144.93. In this case, the potential target is 143.83.

The main trend is the equilibrium situation.

Trading recommendations:

Buy: 146.10 Take profit: 146.60

Buy: 146.64 Take profit: 14720

Sell: 144.90 Take profit: 144.00

Sell: Take profit: