18.12.201808:12 Forex Analysis & Reviews: Fractal analysis of major currency pairs for December 18

Dear colleagues.

For the Euro / Dollar currency pair, the price has formed a pronounced potential for the top of December 14 and the development of which is expected after the breakdown of 1.1357. For the currency pair Pound / Dollar, the price is in the correction zone of the initial conditions for the top of December 11 and an upward movement is expected after the breakdown of 1.2680. For the currency pair Dollar / Franc, the price is in a deep correction from the rising structure and has formed the potential for the bottom of December 17. For the currency pair Dollar / Yen, the price forms the initial conditions for the downward movement of December 14. For the currency pair Euro / Yen, we follow the formation of the initial conditions for the downward cycle of December 13. For the currency pair Pound / Yen, the price is close to the cancellation of the ascending structure of December 11, for which a breakdown of 141.90 is necessary.

Forecast for December 18:

Analytical review of H1-scale currency pairs:

For the Euro / Dollar currency pair, the key levels on the H1 scale are 1.1414, 1.1384, 1.1357, 1.1333, 1.1319, 1.1300, 1.1269, 1.1253, 1.1220 and 1.1200. Here, the price has issued a pronounced potential for upward movement from December 14 in the correction of the downward structure. The development of the upward trend is expected after the breakdown of 1.1357. In this case, the goal is 1.1384. For now, the potential value for the top is considered the level of 1.1414, near which we expect consolidation.

The short-term downward movement is possible in the range of 1.1333 - 1.1319 and the breakdown of the last value will lead to an in-depth movement. Here, the target is 1.1300 and the breakdown of which, in turn, will continue the development of the downward trend from December 10. In this case, the first target is 1.1269 and in the range of 1.1269 - 1.1253 is the consolidation. The breakdown of the level of 1.1250 should be accompanied by a pronounced downward movement. In this case, the target is 1.1220, consolidation is in the range of 1.1220 - 1.1200, and also from here, we expect a rollback to the top.

The main trend is the downward structure of December 10, the formation of potential for the top of December 14.

Trading recommendations:

Buy 1.1357 Take profit: 1.1382

Buy 1.1386 Take profit: 1.1412

Sell: 1.1319 Take profit: 1.1303

Sell: 1.1300 Take profit: 1.1270

For the Pound / Dollar currency pair, the key levels on the H1 scale are 1.2865, 1.2813, 1.2741, 1.2679, 1.2592, 1.2552, 1.2517, 1.2475 and 1.2417. Here, we continue to follow the formation of the ascending structure of December 11. An upward movement is expected after the breakdown of 1.2679. In this case, the target is 1.2741 and price consolidation is near this level. The breakdown of the level of 1.2741 should be accompanied by a pronounced upward movement. Here, the target is 1.2813. The potential value for the top is considered the level of 1.2865, upon reaching which we expect consolidation, as well as a rollback to the top.

The short-term downward movement, as well as consolidation, are possible in the range of 1.2592 - 1.2552 and the breakdown of the latter value will lead to a prolonged correction. Here, the goal is 1.2517 and this level is the key support for the top. Its price will have the formation of the initial conditions for the upward cycle. In this case, the target is 1.2475.

The main trend is the formation of the ascending structure of December 11, the stage of correction.

Trading recommendations:

Buy: 1.2680 Take profit: 1.2740

Buy: 1.2744 Take profit: 1.2813

Sell: 1.2591 Take profit: 1.2552

Sell: 1.2550 Take profit: 1.2517

For the Dollar / Franc currency pair, the key levels on the H1 scale are 1.0093, 1.0058, 1.0042, 1.0014, 0.9995, 0.9965, 0.9920, 0.9900 and 0.9863. Here, the price is in deep correction from the rising structure and forms the potential for the bottom of December 17. An upward movement is possible after a breakdown of 0.9965. In this case, the first target is 0.9995. The short-term upward movement is expected in the range of 0.9995 - 1.0014 and the breakdown of the last value should be accompanied by a pronounced upward movement. Here, the target is 1.0042 and in the range of 1.0042 - 1.0058 is the price consolidation. The potential value for the top is considered the level of 1.0093, upon reaching which we expect a rollback downwards.

The short-term downward movement is possible in the range of 0.9920 - 0.9900. The breakdown of the latter value will have to develop a downward structure. In this case, we expect an impulsive movement to the level of 0.9863.

The main trend is the ascending structure of December 11, the formation of potential for the bottom of December 17.

Trading recommendations:

Buy: 0.9965 Take profit: 0.9990

Buy: 0.9995 Take profit: 1.0012

Sell: 0.9918 Take profit: 0.9900

Sell: 0.9898 Take profit: 0.9865

For the Dollar / Yen currency pair, the key levels on the scale are 113.42, 113.14, 112.92, 112.61, 112.29, 111.92 and 111.67. Here, the price forms the potential for the downward movement of December 14. The continuation of the downward movement is expected after the breakdown of 112.60. In this case, the goal is 112.29 and the breakdown of which, in turn, will lead to a pronounced movement. Here, the goal is 111.92. The potential value for the bottom is considered the level of 111.67, after reaching this level, we expect consolidation in the range of 111.92 - 111.67, as well as a rollback to the top.

The short-term upward movement is possible in the range of 112.92 - 113.14 and the breakdown of the latter value will lead to a prolonged correction. Here, the target is 113.40 and this level is the key support for the downward structure from December 14.

The main trend is the formation of a downward structure of December 14.

Trading recommendations:

Buy: 112.92 Take profit: 113.12

Buy: 113.16 Take profit: 113.40

Sell: 112.60 Take profit: 112.35

Sell: 112.26 Take profit: 111.94

For the Canadian dollar / Dollar currency pair, the key levels on the H1 scale are 1.3557, 1.3521, 1.3465, 1.3429, 1.3344, 1.3311 and 1.3247. Here, the price forms the local potential for the top of December 7th. The short-term upward movement is possible in the range of 1.3429 - 1.3465 and the breakdown of the latter value should be accompanied by a pronounced upward movement. Here, the target is 1.3521. The potential value for the top is considered the level of 1.3557, upon reaching which we expect consolidation, as well as a rollback to the top.

The range of 1.3344 - 1.3311 is the key support for the upward structure of December 7. Its price passage will have a downward movement development. In this case, the target is 1.3247 and this level is the key resistance for the bottom.

The main trend is the local structure for the top of December 7, the stage of deep correction.

Trading recommendations:

Buy: 1.3430 Take profit: 1.3465

Buy: 1.3467 Take profit: 1.3520

Sell: 1.3343 Take profit: 1.3113

Sell: 1.3308 Take profit: 1.3255

For the Australian dollar / dollar currency pair, the key levels on the H1 scale are 0.7247, 0.7214, 0.7196, 0.7148, 0.7127, 0.7100 and 0.7049. Here, the price has shaped the local potential for the downward movement of December 13. The short-term downward movement is expected in the range of 0.7148 - 0.7127 and the breakdown of the latter value will lead to a movement to the level of 0.7100, near which we expect consolidation. The breakdown of the level of 0.7100 should be accompanied by a pronounced downward movement. Here, the goal is 0.7049, from this value, we expect a rollback to the top.

The short-term upward movement is possible in the range of 0.7196 - 0.7214 and the breakdown of the latter value will have to form an ascending structure. Here, the target is 0.7247.

The main trend is the downward structure of December 4, the local potential for the bottom of December 13.

Trading recommendations:

Buy: 0.7196 Take profit: 0.7212

Buy: 0.7216 Take profit: 0.7245

Sell: 0.7148 Take profit: 0.7128

Sell: 0.7125 Take profit: 0.7100

For the Euro / Yen currency pair, the key levels on the H1 scale are 128.76, 128.46, 128.23, 127.68, 127.43, 127.00 and 126.68. Here, the price canceled the development of the ascending structure of December 6, and currently, we are following the formation of descending initial conditions of December 13. The short-term downward movement is possible in the range of 127.68 - 127.43 and the breakdown of the latter value should be accompanied by a pronounced downward movement. Here, the goal is 127.00. The potential value for the bottom is considered the level of 126.68, after reaching which we expect consolidation, as well as a rollback to the top.

The short-term upward movement is possible in the range of 128.23 - 128.46 and the breakdown of the latter value will lead to a prolonged correction. Here, the goal is 128.76 and this level is the key support for the downward structure.

The main trend is the formation of the initial conditions for the downward movement of December 13.

Trading recommendations:

Buy: 128.23 Take profit: 128.44

Buy: 128.48 Take profit: 128.74

Sell: 127.66 Take profit: 127.45

Sell: 127.40 Take profit: 127.00

For the Pound / Yen currency pair, the key levels on the H1 scale are 144.18, 143.91, 143.32, 142.42, 141.91 and 141.46. Here, the price is close to the abolition of the ascending structure of December 11, for which a breakdown of the level of 141.90 is necessary. In this case, the first target is 141.46.

An upward movement is expected after the breakdown of 143.32. Here, the first target is 143.91 and the range of 143.91 - 144.18. Its passage will cost the movement to move to the potential target of 144.95, near this level is the consolidation.

The main trend is the formation of potential for the top of December 11, the stage of deep correction.

Trading recommendations:

Buy: 144.20 Take profit: 144.90

Buy: 143.35 Take profit: 143.90

Sell: 141.90 Take profit: 141.50

Sell: Take profit: