20.03.201908:06 Forex Analysis & Reviews: Fractal analysis of major currency pairs on March 20

Dear colleagues.

For the currency pair Euro / Dollar, the upward trend development is expected after the price passes the range of 1.1345 - 1.1360 and the area of 1.1332 - 1.1316 is the key support. For the currency pair Pound / Dollar, we should continue the development of the upward structure of March 11 after the breakdown of 1.3387 and the level of 1.3144 is the key support. For the currency pair Dollar / Franc, the downward trend continuation is expected after the price passes the range of 0.9993 - 0.9980 and the level of 1.0025 is the key support. For the currency pair Dollar / Yen, the range of 111.27 - 111.14 is currently the key support for the upward structure of March 13. For the currency pair Euro / Yen, we follow the development of the upward cycle of March 8 and an impulsive movement is expected after the breakdown of 126.90. For the currency pair Pound / Yen, we are following the upward structure of March 11 as the main trend; the level of 149.26 is the key resistance and the level of 146.76 is the key support.

Forecast for March 20:

Analytical review of H1-scale currency pairs:

For the currency pair Euro / Dollar, the key levels on the H1 scale are 1.1416, 1.1390, 1.1360, 1.1332, 1.1316 and 1.1289. We continue to follow the development of the ascending structure of March 7. The movement upwards is expected after the breakdown of 1.1360. The target is 1.1390. The potential value for the top is considered the level of 1.1416, upon reaching which we expect a rollback downwards.

The short-term downward movement is possible in the area of 1.1332 - 1.1316 and the breakdown of the latter value will lead to an in-depth movement. The goal is 1.1289 and this level is the key support for the upward structure.

The main trend is the upward structure of March 7.

Trading recommendations:

Buy 1.1361 Take profit: 1.1390

Buy 1.1392 Take profit: 1.1414

Sell: 1.1332 Take profit: 1.1316

Sell: 1.1312 Take profit: 1.1290

For the currency pair Pound / Dollar, the key levels on the H1 scale are 1.3587, 1.3509, 1.3462, 1.3387, 1.3267, 1.3214 and 1.3144. We are following the development of the ascending structure of March 11. The continuation of the upward movement is expected after the breakdown of 1.3387. In this case, the target is 1.3462 and in the area of 1.3462 - 1.3509 is the short-term upward movement. The potential value for the top is considered the level of 1.3587, upon reaching which we expect a rollback downwards.

The consolidated movement is expected in the range of 1.3267 - 1.3214 and the breakdown of the latter value will lead to an in-depth correction. The target is 1.3144 and this level is the key support for the upward trend.

The main trend is the upward structure of March 11.

Trading recommendations:

Buy: 1.3388 Take profit: 1.3462

Buy: 1.3510 Take profit: 1.3585

Sell: Take profit:

Sell: 1.3112 Take profit: 1.3145

For the currency pair Dollar / Franc, the key levels on the H1 scale are 1.0057, 1.0045, 1.0025, 1.0012, 0.9993, 0.9980 and 0.9956. We are following the development of the downward cycle of March 7. We expect the downward movement to continue after the price passes the range of 0.9993 - 0.9980. In this case, the potential target is 0.9956, upon reaching which we expect a rollback to the top.

The short-term uptrend is possible in the area of 1.0012 - 1.0025 and the breakdown of the last value will lead to an in-depth correction. The goal is 1.0045 and the range of 1.0045-1.0057 is the key support for the downward cycle. We expect the initial conditions for the upward cycle to reach it.

The main trend is the downward cycle of March 7.

Trading recommendations:

Buy: 1.0012 Take profit: 1.0025

Buy: 1.0027 Take profit: 1.0045

Sell: 0.9993 Take profit: 0.9981

Sell: 0.9978 Take profit: 0.9956

For the currency pair Dollar / Yen, the key levels on the scale of H1 are 112.90, 112.73, 112.48, 112.28, 112.00, 111.78, 111.27, 111.14, 110.96, 110.82 and 110.62. We follow the formation of the initial conditions for the upward cycle of March 13 and the range of 111.27 - 111.14 is the key support for the top. An upward movement is expected after the breakdown of 111.78. In this case, the first target is 112.00. the breakdown of which will lead to a movement to the level of 112.28 and consolidation is near this value. The short-term upward movement is expected in the range of 112.28 - 112.48, hence there is a high probability of a turn into a correction. For now, the potential value for the top is considered to be the level of 112.90, after reaching which we expect a consolidated movement in the area of 112.73 - 112.90.

We expect the development of the downward trend after the breakdown of 111.14. The first target is 110.96 and in the area of 110.96 - 110.82 is the price consolidation. The potential value for the top is considered the level of 110.62, upon reaching which we expect a rollback to the top.

The main trend is the formation of the initial conditions for the upward cycle of March 13, a deep correction.

Trading recommendations:

Buy: 111.78 Take profit: 112.00

Buy: 112.02 Take profit: 112.28

Sell: 111.14 Take profit: 110.96

Sell: 110.95 Take profit: 110.83

For the currency pair Canadian Dollar / Dollar, the key levels on the H1 scale are 1.3400, 1.3371, 1.3353, 1.3305, 1.3278, 1.3260, 1.3228 and 1.3200. The price forms a local structure for the downward movement of March 18. The continuation of the downward movement is expected after the breakdown of the level of 1.3305. The first target is 1.3278. The passage of the price of the range of 1.3278 - 1.3260 must be accompanied by a pronounced movement. In this case, the goal is 1.3228. The potential value for the bottom is considered the level of 1.3200, after reaching which we expect consolidation, as well as a rollback to the top.

The short-term upward movement is expected in the area of 1.3353 - 1.3371 and the breakdown of the latter value will have to form the expressed initial conditions for the upward cycle of March 15. In this case, the target is 1.3400.

The main trend is the formation of a local structure for the downward movement of March 18.

Trading recommendations:

Buy: 1.3353 Take profit: 1.3370

Buy: 1.3373 Take profit: 1.3400

Sell: 1.3305 Take profit: 1.3280

Sell: 1.3260 Take profit: 1.3230

For the currency pair Australian Dollar / Dollar, the key levels on the H1 scale are 0.7154, 0.7121, 0.7101, 0.7072, 0.7055, 0.7032 and 0.7000. We are following the ascending structure of March 8. At the moment, the price is in correction. The short-term upward movement is expected in the area of 0.7101 - 0.7121 and the breakdown of the latter value should be accompanied by a pronounced upward movement. The potential target is 0.7154, upon reaching this level, we expect consolidation.

The short-term downward movement is possible in the area of 0.7072 - 0.7055 and the breakdown of the last value will lead to a prolonged correction. The target is 0.7032 and this level is the key support for the top.

The main trend is the ascending structure of March 8, the stage of correction.

Trading recommendations:

Buy: 0.7101 Take profit: 0.7120

Buy: 0.7122 Take profit: 0.7152

Sell: 0.7072 Take profit: 0.7055

Sell: 0.7053 Take profit: 0.7033

For the currency pair Euro / Yen, the key levels on the H1 scale are 127.84, 127.28, 126.90, 126.68, 126.11, 125.86 and 125.40. We continue to follow the development of the ascending structure of March 8. The short-term upward movement is expected in the area of 126.68 - 126.90. The breakdown of the latter value will lead to the movement to the level of 127.28, near this level, we expect consolidation. The potential value for the top is considered the level of 127.84, after reaching this level, we expect a departure to a correction.

The short-term downward movement is possible in the area of 126.11 - 125.86 and the breakdown of the last value will lead to a prolonged correction. The goal is 125.40 and this level is the key support for the top.

The main trend is the ascending structure of March 8.

Trading recommendations:

Buy: 126.68 Take profit: 126.90

Buy: 126.95 Take profit: 127.25

Sell: 126.11 Take profit: 125.88

Sell: 125.82 Take profit: 125.44

For the currency pair Pound / Yen, the key levels on the H1 scale are 150.84, 150.25, 149.26, 148.68, 147.43, 146.76 and 145.76. We continue to follow the development of the ascending structure of March 11. We expect a short-term upward movement in the area of 148.68 - 149.26 and the breakdown of the last value should be accompanied by a pronounced upward movement. The target is 150.25. The potential value for the top is considered the level of 150.84, upon reaching which we expect a rollback downwards.

The short-term downward movement is possible in the area of 147.43 - 146.76 and the breakdown of the latter value will lead to a prolonged correction. The target is 145.76 and this level is the key support for the upward movement.

The main trend is the upward structure of March 11.

Trading recommendations:

Buy: 148.70 Take profit: 149.25

Buy: 149.30 Take profit: 150.25

Sell: 147.40 Take profit: 146.80

Sell: 146.70 Take profit: 145.90