22.02.201814:00 Forex Analysis & Reviews: Fractal analysis of the main currency pairs for February 22

Dear colleagues.

For the EUR / USD pair, there is a continuation of a decline from February 16 after a breakdown at the level of 1.2260. For GBP / USD, the full-scale development of the downward trend is expected after the breakdown of 1.3852. For the USD / CHF pair, the development of the upward structure from February 16 is expected to continue after the breakdown of 0.9390. For the USD / JPY pair, the development of the upward structure of February 16 is the expected after the breakdown of 108.08. For the EUR / JPY pair, the continuation of the movement is downwards in the range of 131.82 - 131.36. For the GBP / JPY, the move to the level of 147.11 is expected.

Forecast for February 22:

Analytical review of currency pairs in the H1 scale:

For the EUR / USD pair, the key levels on the H1 scale are 1.2382, 1.2332, 1.2298, 1.2261, 1.2225, 1.2166, 1.2131 and 1.2084. Here we follow the development of the downward structure of February 16. A short-term downward movement is 1.2161, 1.2225, consolidating in the range of 1.2166 - 1.2131. The level of 1.2084 can be considered to have a potential value for the downward movement, after which, a pullback to the top is expected.

A short-term upward movement is possible in the range of 1.2298 - 1.2332 and a breakdown of the last value will lead to an in-depth correction. Here the target is 1.2382, whereas this level becomes the key support for the downward structure.

The main trend is the downward cycle from February 16.

Trading recommendations:

Buy: 1.2298 Take profit: 1.2330

Buy 1.2333 Take profit: 1.2380

Sell: 1.2260 Take profit: 1.2227

Sell: 1.2222 Take profit: 1.2166

For the GBP / USD pair, the key levels on the H1 scale are 1.4447, 1.4358, 1.4230, 1.4183, 1.4120, 1.3894, 1.3852 and 1.3762. Here the range of 1.3894 - 1.3852 is the key support for the upside structure. A consolidation of the price is expected and a breakdown at 1.3852 will lead to the development of a downward movement. In this case, the target is the level of 1.3762.

The resumption of the upward trend on the H1 scale is possible after the breakdown of 1.4002. In this case, the first potential target is 1.4120 but prior to this level, the formation of the local structure for the top is expected.

The main trend is the stage of deep correction.

Trading recommendations:

Buy: 1.4002 Take profit: 1.4120

Buy: 1.4125 Take profit: 1.4180

Sell: 1.3848 Take profit: 1.3766

Sell: Take profit:

For the USD/CHF pair, the key levels on the H1 scale are: 0.9493, 0.9449, 0.9426, 0.9390, 0.9350, 0.9327 and 0.9292. Here we continue to follow the development of the upward cycle of February 16. A continued upward movement is expected after the breakdown of 0.9390, which in this case, the target is 0.9426 in the consolidation range of 0.9426 - 0.9449. The potential value for the top is the level of 0.9493, upon reaching this level, a downward pullback is expected.

A short-term downward movement is possible in the range of 0.9350 - 0.9327. A breakdown of the last value will lead to an in-depth correction. Here the target is 0.9292, whereas this level becomes the key support for the top.

The main trend is the ascending cycle of February 16.

Trading recommendations:

Buy: 0.9390 Take profit: 0.9424

Buy: 0.9450 Take profit: 0.9490

Sell: 0.9350 Take profit: 0.9329

Sell: 0.9325 Take profit: 0.9294

For the USD/JPY pair, the key levels on a scale are 109.24, 108.74, 108.06, 107.81, 107.23, 106.88 and 106.44. Here, the continuation of the development of the upward structure from February 16 is expected after reaching the price in the noise range of 107.81 - 108.06, which is near the level of consolidation. A potential value for the top is the level of 109.24 and upon reaching this level, a downward pullback is expected.

A short-term downward movement is possible in the range of 107.23 - 106.88 and a breakdown of the last value will lead to an in-depth correction. Here the target is 106.44, whereas, this level becomes the key support for the upward structure.

The main trend is the ascending structure of February 16.

Trading recommendations:

Buy: 108.06 Take profit: 108.72

Buy: 108.76 Take profit: 109.22

Sell: 107.20 Take profit: 106.90

Sell: 106.86 Take profit: 106.46

For the USD/CAD pair, the key levels on the H1 scale are 1.2862, 1.2767, 1.2722, 1.2649, 1.2580, 1.2529 and 1.2432. Here, the continuation of the upward movement is expected after the breakdown of 1.2650. Here the first target is 1.2650, and in this case, the target is 1.2722 in the consolidation range of 1.2722 - 1.2767. The potential value for the top is the level of 1.2920, upon reaching this level a short-term upward movement in the range of 1.2862 - 1.2920 and a rollback into the correction.

A short-term downward movement is possible in the range of 1.2580 - 1.2529 and a breakdown of the last value will have to develop the downward structure. Here the potential target is 1.2432.

The main trend is the ascending structure of February 1.

Trading recommendations:

Buy: 1.2652 Take profit: 1.2720

Buy: 1.2770 Take profit: 1.2860

Sell: 1.2580 Take profit: 1.2532

Sell: 1.2527 Take profit: 1.2440

For the AUD/USD pair, the key levels in the H1 scale are 0.7897, 0.7857, 0.7830, 0.7788, 0.7754, 0.7734 and 0.7690. Here we follow a small downward cycle from February 16th. A continued downward movement is expected after the breakdown of 0.7788 and in this case, the target is 0.7754 in the consolidation range of 0.7754 - 0.7734. The level of 0.7690 can be considered to have a potential value for the downstream structure, after which a pullback to the top is expected.

A short-term upward movement is possible in the range of 0.7830 - 0.7857. The breakdown of the last value will lead to an in-depth correction. Here the target is 0.7897, whereas this level becomes the key support for the top.

The main trend is the downward structure of February 16.

Trading recommendations:

Buy: 0.7830 Take profit: 0.7855

Buy: 0.7860 Take profit: 0.7896

Sell: 0.7786 Take profit: 0.7755

Sell: 0.7734 Take profit: 0.7692

For the EUR / JPY pair, the key levels on the H1 scale are 136.18, 135.69, 134.73, 133.90, 133.08, 131.82, 131.36, 130.48 and 129.23. Here we follow the downward structure of February 2. A continued downward movement is expected after reaching the price of the noise range at 131.82 - 131.36. In this case, the target is 130.48 which is near the level of consolidation. The potential value for the bottom is the level of 129.23, upon reaching which we expect a rollback to the top.

The development of an upward correction is possible after the breakdown of 133.08, here the target is 133.90. A Short-term upward movement is expected in the range of 133.90 - 134.73. The breakdown of the last value will have a progressive structure. In this case, the target is 135.70, with the noise range of 135.70 - 136.18, prior to this, the initial conditions for the upward cycle is expected.

The main trend is the downward structure of February 2.

Trading recommendations:

Buy: 133.10 Take profit: 133.88

Buy: 133.92 Take profit: 134.70

Sell: 131.34 Take profit: 130.50

Sell: 130.44 Take profit: 129.30

For the USD/JPY pair, the key levels on the H1 scale are 153.87, 152.56, 151.62, 150.85, 148.70, 147.11 and 145.56. Here we continue to follow the downward structure of February 2. A continued downward movement is expected after the breakdown of 148.70. In this case, the target is 147.11, which is near the level of consolidation. Breaking the level of 147.10 should be accompanied by a pronounced movement to the potential level of 145.56, upon reaching this level, an upward rollback is expected.

A short-term upward movement is possible in the range of 150.85 - 151.62. A breakdown of the last value will lead to an in-depth correction. Here the target is 152.56, whereas this level becomes the key support for the bottom. Reaching this price have to develop an upward movement and in this case, the target is 153.87.

The main trend is the downward structure of February 2.

Trading recommendations:

Buy: 150.85 Take profit: 151.60

Buy: 151.65 Take profit: 152.50

Sell: 148.70 Take profit: 147.15

Sell: 147.08 Take profit: 145.60