23.02.201809:14 Forex Analysis & Reviews: Fractal analysis for major currency pairs as of February 23

Dear colleagues.

For the EUR / USD pair, the price is in the zone of correction from the downward movement. The level of 1.2382 is the key support. For the GBP / USD pair, the resumption of the upward movement is expected after the breakdown of 1.4002. For the USD / CHF pair, the continuation of the development of the upward structure from February 16 is expected after the breakdown of 0.9390. At the moment, the price is in the correction zone. For the USD / JPY pair, the development of the upward structure from February 16 is expected after the breakdown of 107.42. For the EUR / JPY pair, the continuation of the movement towards the bottom is expected after passing the price of the noise range of 131.82 - 131.36. For the GBP / JPY pair, we expect the movement towards the level of 147.11.

Forecast for February 23:

Analytical review of currency pairs in the scale of H1:

For the EUR / USD pair, the key levels on the scale of H1 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 from February 16. At the moment, the price is in correction. Short-term downward movement is expected in the area of 1.2261 - 1.2225. The breakdown of the last value should be accompanied by a pronounced movement towards the level of 1.2166. In the area of 1.2166 - 1.2131 is the consolidation of the price. For the potential value for the downward movement, we consider the level of 1.2084. Upon reaching this level, we expect a pullback to the top.

Consolidated movement is expected in the area of 1.2298 - 1.2332. The breakdown of the last value will lead to in-depth correction. Here, the target is 1.2382. This level is the key support for the downward structure.

The main trend is the downward cycle from February 16, the correction stage.

Trading recommendations:

Buy: Take profit:

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 scale of H1 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 upward structure. The breakdown at 1.3852 will lead to the development of a downward movement. In this case, the target is 1.3762.

The resumption of the upward trend at the scale of H1 is possible after the breakdown of 1.4002. In this case, the first potential target is 1.4120. Up to this level, we expect the design of the local structure for the top.

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 in the scale of H1 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 from February 16. The current price is in correction. The continuation of the movement towards the top is expected after the breakdown of 0.9390. In this case, the target is 0.9426. In the area of 0.9426 - 0.9449 is the consolidation of the price. For the potential value for the top, consider the level of 0.9493. Upon reaching this level, we expect a pullback to the bottom.

Consolidated movement is expected in the area of 0.9350 - 0.9327. The breakdown of the last value will lead to in-depth correction. Here, the target is 0.9292. This level is the key support for the top.

The main trend is the upward cycle from February 16, the correction stage.

Trading recommendations:

Buy: 0.9390 Take profit: 0.9424

Buy: 0.9450 Take profit: 0.9490

Sell: Take profit:

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, 107.42, 106.88, 106.44, 106.04 and 105.50. Here, the price is in deep correction from the upward structure on February 16. The continuation of the development of the upward structure from February 16 is expected after the breakdown of the level of 107.42. In this case, the first target is 107.81. Passing the price of the noise range of 107.81 - 108.06 will allow us to count on the movement towards the level of 108.74. Near this is the consolidation of the price. For the potential value for the top, consider the level of 109.24. Upon reaching this level, we expect a pullback towards the bottom.

Consolidated movement is possible in the area of 106.88 - 106.44. The breakdown of the last value will lead to in-depth correction. Here, the target is 106.04. The breakdown of this level, in turn, will initiate the development of a downward trend on the scale of H1. In this case, the potential target is 105.50.

The main trend is the upward structure of February 16, the stage of deep correction.

Trading recommendations:

Buy: 107.42 Take profit: 107.40

Buy: 108.08 Take profit: 108.70

Sell: 106.42 Take profit: 106.08

Sell: 106.42 Take profit: 106.06

For the CAD / USD pair, the key levels on the scale of H1 are: 1.2920, 1.2862, 1.2767, 1.2722, 1.2658, 1.2612 and 1.2557. Here, we continue to follow the upward structure of February 16. Short-term movement towards the top is expected in the area of 1.2722 - 1.2767. The breakdown of the last value should be accompanied by a pronounced movement towards the level of 1.2862. For the potential value for the top, we consider the level of 1.2920. Upon reaching this level, we expect short-term upward movement in the area of 1.2862 - 1.2920 and a rollback towards the correction.

Short-term downward movement is possible in the area of 1.2658 - 1.2612. The breakdown of the last value will lead to in-depth correction. Here, the target is 1.2557. This level is the key support for the top.

The main trend is the upward structure of February 1.

Trading recommendations:

Buy: 1.2722 Take profit: 1.2765

Buy: 1.2770 Take profit: 1.2860

Sell: 1.2656 Take profit: 1.2614

Sell: 1.2610 Take profit: 1.2560

For the AUD / USD pair, the key levels in the scale of H1 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 16. At the moment, the price is in correction. The continuation of the movement towards the bottom is expected after the breakdown of 0.7788. In this case, the target is 0.7754. In the area of 0.7754 - 0.7734 is the consolidation of the price. For the potential value for the downward structure, we consider the level of 0.7690. Upon reaching this level, we expect a pullback to the top.

Short-term upward movement is possible in the area of 0.7830 - 0.7857. The breakdown of the last value will lead to in-depth correction. Here, the target is 0.7897. This level is the key support for the top.

The main trend is the downward structure from February 16, the correction stage.

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 scale of H1 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. The continuation of the movement towards the bottom is expected after passing the price of the noise range of 131.82 - 131.36. In this case, the target is 130.48. Near this level is the consolidation of the price. For the potential value for the bottom, consider the level of 129.23. Upon reaching this level, we expect a pullback to the top.

The development of an upward correction is possible after the breakdown of 133.08. Here, the target is 133.90. Short-term upward movement is expected in the area of 133.90 - 134.73. The breakdown of the last value will lead to the development of an upward structure. In this case, the target is 135.70. The range of 135.70 - 136.18 is noise. Before reaching this level, we expect the initial conditions for the upward cycle.

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 GBP / JPY pair, the key levels on the scale of H1 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. The continuation of the movement towards the bottom is expected after the breakdown of 148.70. In this case, the target is 147.11. Near this level is the consolidation of the price. The break at the level of 147.10 should be accompanied by a pronounced movement towards the potential level of 145.56. Upon reaching this level, we expect a pullback to the top.

Short-term upward movement is possible in the area of 150.85 - 151.62. The breakdown of the last value will lead to in-depth correction. Here, the target is 152.56. This level is the key support for the bottom. Passing the price will lead to the development of the upward movement. 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