18.04.201913:09 Forex Analysis & Reviews: Fractal analysis of major currency pairs for April 18

Dear colleagues.

For the Euro/Dollar currency pair, we expect clearance of the expressed initial conditions for the downward cycle and the level of 1.1229 is the key resistance for the bottom. For the Pound/Dollar currency pair, the subsequent targets for the downward movement were determined from the local structure on April 12. For the Dollar/Franc currency pair, we expect to continue moving upwards after the price passes the range of 1.0114 - 1.0125. For the currency pair Dollar/Yen, we follow the development of the ascending structure from April 10 and we expect further upward movement after the breakdown of 112.17. For the Euro/Yen currency pair, the price is in deep correction from the upward structure on April 10, and at the moment, we are expecting clearance of the expressed initial conditions for the downward cycle. For the currency pair Pound/Yen, we follow the development of the downward cycle of April 15.

Forecast for April 18:

Analytical review of H1-scale currency pairs:

For the Euro/Dollar currency pair, the key levels on the H1 scale are 1.1299, 1.1280, 1.1266, 1.1242, 1.1229 and 1.1211. We expect clearance of the expressed initial conditions for the downward cycle. The short-term downward movement is possible in the range of 1.1242 - 1.1229 and the breakdown of the latter value will lead to the movement to a potential target of 1.1211, consolidation is near this level.

The range of 1.1266 - 1.1280 is corrective and we expect a short-term upward movement, as well as a key reversal downwards. The level of 1.1299 is the key support for the possible registration of the initial conditions of the downward cycle. Its price passage will lead to the formation of an upward potential. In this case, the first goal is 1.1323.

The main trend is the formation of a downward structure.

Trading recommendations:

Buy 1.1266 Take profit: 1.1280

Buy 1.1282 Take profit: 1.1299

Sell: 1.1240 Take profit: 1.1229

Sell: 1.1228 Take profit: 1.1211

For the Pound/Dollar currency pair, the key levels on the H1 scale are 1.3131, 1.3097, 1.3079, 1.3053, 1.2984, 1.2959, 1.2924 and 1.2876. We are following the development of the local downward structure of April 12. The short-term downward movement is expected in the range of 1.2984 - 1.2959 and the breakdown of the last value should be accompanied by a pronounced downward movement. The target is 1.2924 and near this level is the consolidation. The breakdown of 1.2922 should be accompanied by a pronounced move towards a potential target of 1.2876, from this level, we expect a rollback to the top.

We expect a correction after the breakdown of 1.3053. The target is 1.3079 and the range of 1.3079 - 1.3097 is the key support for the downward structure of April 12. Its price passage will have to build up potential for the top. In this case, the target is 1.3131.

The main trend is the local downward structure of April 12.

Trading recommendations:

Buy: 1.3053 Take profit: 1.3079

Buy: 1.3098 Take profit: 1.3130

Sell: 1.2984 Take profit: 1.2960

Sell: 1.2957 Take profit: 1.2925

For the Dollar/Franc currency pair, the key levels on the H1 scale are 1.0165, 1.0147, 1.0125, 1.0114, 1.0096, 1.0082 and 1.0064. We continue to monitor the ascending structure of April 12. The movement upwards is expected after the price passes the range of 1.0114 - 1.0125. In this case, the target is 1.0147 and consolidation is near this level. The potential value for the top is considered the level of 1.0165, upon reaching which we expect a consolidated movement, as well as a rollback to the top.

The short-term downward movement is possible in the area of 1.0096 - 1.0082 and the breakdown of the last value will lead to a prolonged correction. The goal is 1.0064 and this level is the key support for the top.

The main trend is the local rising structure of April 12.

Trading recommendations:

Buy: 1.0125 Take profit: 1.0145

Buy: 1.0148 Take profit: 1.0165

Sell: 1.0096 Take profit: 1.0083

Sell: 1.0080 Take profit: 1.0064

For the Dollar/Yen currency pair, the key levels on the scale of H1 are 113.06, 112.88, 112.57, 112.34, 112.17, 111.87, 111.74 and 111.48. We follow the development of the ascending structure from April 10. The short-term upward movement is expected in the area of 112.17 - 112.34 and the breakdown of the latter value will lead to the movement to the level of 112.57, near which, we expect consolidation. The breakdown of 112.60 should be accompanied by a pronounced upward movement. The goal is 112.88. The potential value for the top is considered the level of 113.06, after reaching which we expect consolidation, as well as a rollback to the correction.

The short-term downward movement is possible in the area of 111.87 - 111.74 and the breakdown of the latter value will lead to a prolonged correction. The target is 111.50 and this level is the key support for the upward structure.

The main trend is the rising structure of April 10.

Trading recommendations:

Buy: 112.17 Take profit: 112.32

Buy: 112.36 Take profit: 112.55

Sell: 111.87 Take profit: 111.75

Sell: 111.72 Take profit: 111.55

For the Canadian Dollar/Dollar currency pair, the key levels on the H1 scale are 1.3509, 1.3479, 1.3438, 1.3421, 1.3401, 1.3374, 1.3322, 1.3306 and 1.3283. The price entered the equilibrium situation. A downward movement is expected after the price passes the range of 1.3322 - 1.3306. In this case, the first potential target is 1.3283. We expect a resumption of the upward movement after the breakdown of 1.3374. The first target is 1.3401 and the breakdown of which will allow us to count on the movement towards the level of 1.3421, near this level is the price consolidation. The price pass of the range of 1.3421 - 1.3438 should be accompanied by a pronounced upward movement. The target is 1.3479 and consolidation is near this level. The potential value for the top is considered the level of 1.3509, upon reaching which we expect a rollback downwards.

The main trend is the equilibrium situation.

Trading recommendations:

Buy: 1.3374 Take profit: 1.3400

Buy: 1.3403 Take profit: 1.3420

Sell: 1.3322 Take profit: 1.3306

Sell: 1.3303 Take profit: 1.3285

For the Australian Dollar/Dollar currency pair, the key levels on the H1 scale are 0.7268, 0.7250, 0.7220, 0.7209, 0.7192, 0.7153, 0.7137 and 0.7115. We follow the development of the ascending structure from April 11. An upward movement is expected after breakdown of 0.7192. In this case, the first target is 0.7209. The price passage of the range of 0.7209 - 0.7220 must be accompanied by a pronounced upward movement. The target is 0.7250. The potential value for the top is considered to be the level of 0.7268, upon reaching this value, we expect consolidation, as well as a rollback to the top.

The short-term downward movement is possible in the range of 0.7153 - 0.7137 and the breakdown of the latter value will have to form the initial conditions for the downward cycle. In this case, the goal is 0.7137.

The main trend is the local structure for the top of April 11.

Trading recommendations:

Buy: 0.7192 Take profit: 0.7209

Buy: 0.7220 Take profit: 0.7250

Sell: 0.7153 Take profit: 0.7138

Sell: 0.7135 Take profit: 0.7115

For the Euro/Yen currency pair, the key levels on the H1 scale are 126.77, 126.38, 126.12, 125.89, 125.46 and 125.23. The price is in the adjustment area of the ascending structure on April 10. We expect clearance of the expressed initial conditions for the bottom to the level of 125.23 and in the area of 125.23 - 125.46 is the short-term downward movement.

The short-term upward movement is possible in the area of 125.89 - 126.12 and the breakdown of the last value will lead to a prolonged correction. In this case, the target is 126.38 and this level is the key support for the bottom. The breakdown of the level of 126.38 will lead to the formation of the ascending structure. In this case, the potential target is 126.77.

The main trend is the ascending structure of April 10, the stage of deep correction.

Trading recommendations:

Buy: 125.90 Take profit: 126.10

Buy: 126.14 Take profit: 126.35

Sell: 125.46 Take profit: 125.25

Sell: Take profit:

For the Pound/Yen currency pair, the key levels on the H1 scale are 146.31, 145.94, 145.69, 145.32, 145.16, 144.87, 144.51 and 144.28. We follow the development of the downward structure of April 15. We expect the downward movement to continue after the price passes the range of 145.32 - 145.16. In this case, the target is 144.87 and consolidation is near this level. The breakdown of the level of 144.85 should be accompanied by a pronounced downward movement. The target is 144.51. We consider the level of 144.28 as a potential value for the bottom, after reaching which we expect consolidation in the area of 144.51 - 144.28, as well as a rollback to the top.

The short-term upward movement is possible in the area of 145.69 - 145.94 and the breakdown of the latter value will lead to a prolonged correction. The target is 146.31 and this level is the key support for the downward structure.

The main trend is the development of the downward cycle of April 15.

Trading recommendations:

Buy: 145.70 Take profit: 145.92

Buy: 145.96 Take profit: 146.30

Sell: 145.16 Take profit: 144.90

Sell: 144.85 Take profit: 144.51