23.01.201908:13 Forex Analysis & Reviews: Fractal analysis of major currency pairs on January 23

Dear colleagues.

For the currency pair Euro / Dollar, we mainly expect movement in the correction zone from the descending structure. For the currency pair Pound / Dollar, we are following the ascending structure from January 15 and we expect further upward movement after the breakdown of 1.2977, and we consider the downward movement as a correction. For the currency pair Dollar / Franc, we should continue the development of the upward cycle from January 10 and after the breakdown of the level of 0.9984, we consider the downward movement as a correction. For the currency pair Dollar / Yen, the price is in a correction from the upward cycle on January 10. For the currency pair Euro / Yen, the price entered a state of equilibrium. For the currency pair Pound / Yen, we should continue the development of the ascending structure of January 15 after the breakdown of 142.00.

Forecast for January 23:

Analytical review of H1-scale currency pairs:

For the currency pair Euro / Dollar, the key levels on the H1 scale are 1.1496, 1.1428, 1.1404, 1.1376, 1.1358, 1.1321 and 1.1291. Here, we mainly expect to go to the correction zone. The continuation of the downward movement is expected after the breakdown of the level 1.1355. In this case, the goal is 1.1321. The potential value for the bottom is considered the level of 1.1291, upon reaching which we expect a rollback to the top.

The consolidated movement is expected in the range of 1.1404 - 1.1428 and the breakdown of the latter value will lead to a prolonged correction. Here, the target is 1.1469 and this level is the key support for the downward structure.

The main trend is the downward cycle of January 10.

Trading recommendations:

Buy 1.1406 Take profit: 1.1426

Buy 1.1430 Take profit: 1.1466

Sell: 1.1355 Take profit: 1.1324

Sell: 1.1320 Take profit: 1.1294

For the currency pair Pound / Dollar, the key levels on the H1 scale are 1.3118, 1.3056, 1.3024, 1.2977, 1.2934, 1.2900, 1.2853 and 1.2802. Here, we are following the local ascending structure of January 15th. An upward movement is expected after the breakdown of 1.2977. In this case, the target is 1.3024 and in the range of 1.3024 - 1.3056 is the price consolidation. The potential value for the top is considered the level of 1.3118, after reaching which we expect a rollback downwards.

The short-term downward movement is possible in the range of 1.2934 - 1.2900 and the breakdown of the latter value will lead to an in-depth correction. Here, the goal is 1.2853 and this level is the key support for the upward structure. Its breakdown will have to form the initial conditions for the downward cycle. In this case, the goal is 1.2802.

The main trend is the local structure for the top of January 15.

Trading recommendations:

Buy: 1.2977 Take profit: 1.3024

Buy: 1.3057 Take profit: 1.3118

Sell: 1.2934 Take profit: 1.2903

Sell: 1.2898 Take profit: 1.2857

For the currency pair Dollar / Franc, the key levels on the H1 scale are 1.0065, 1.0034, 0.9984, 0.9930, 0.9906, 0.9874 and 0.9847. Here, we continue to follow the development of the ascending cycle of January 10. An upward movement is expected after the breakdown of 0.9984. In this case, the target is 1.0034. The potential value for the top is considered the level of 1.0065, upon reaching which we expect consolidation, as well as a rollback to the top.

The short-term downward movement is possible in the range of 0.9930 - 0.9906 and the breakdown of the last value will lead to a prolonged correction. Here, the target is 0.9874 and this level is the key support for the ascending structure. Its breakdown will lead to a movement to the level of 0.9847.

The main trend is the ascending structure of January 10.

Trading recommendations:

Buy: 0.9986 Take profit: 1.0032

Buy: 1.0035 Take profit: 1.0065

Sell: 0.9930 Take profit: 0.9910

Sell: 0.9904 Take profit: 0.9880

For the currency pair Dollar / Yen, the key levels on the scale of H1 are 110.33, 110.07, 109.81, 109.48, 109.26, 108.98 and 108.60. Here, the price is in the correction zone from the upward structure on 10 January. We continue the upward movement after the breakdown of 109.81. In this case, the target is 110.07 and we consider 110.33 as a potential value for the uptrend, upon reaching which we expect consolidation, as well as a downward rollback.

The short-term downward movement, as well as consolidation, are possible in the range of 109.48 - 109.26. The breakdown of the latter value will lead to a prolonged correction. Here, the goal is 108.98 and this level is the key support. Its breakdown will have to form the initial conditions for the downward cycle. In this case, the goal is 108.60.

The main trend is the rising structure of January 10, the stage of correction

Trading recommendations:

Buy: 109.81 Take profit: 110.05

Buy: 110.08 Take profit: 110.30

Sell: 109.46 Take profit: 109.26

Sell: 109.24 Take profit: 109.00

For the currency pair Canadian dollar / Dollar, the key levels on the H1 scale are 1.3424, 1.3405, 1.3371, 1.3332, 1.3314 and 1.3281. Here, we are following the rising structure of January 11th. An upward movement is expected after the breakdown of 1.3371. In this case, the target is 1.3405. The potential value for the top is considered the level of 1.3424, upon reaching which we expect consolidation, as well as a rollback to the top.

The short-term downward movement is possible in the range of 1.3332 - 1.3314 and the breakdown of the latter value will lead to an in-depth correction. Here, the target is 1.3281 and this level is the key support for the upward structure.

The main trend is the rising structure of January 11.

Trading recommendations:

Buy: 1.3371 Take profit: 1.3405

Buy: 1.3407 Take profit: 1.3422

Sell: 1.3332 Take profit: 1.3316

Sell: 1.3310 Take profit: 1.3290

For the currency pair Australian dollar / dollar, the key levels on the H1 scale are 0.7184, 0.7167, 0.7151, 0.7113, 0.7091, 0.7072 and 0.7046. Here, we follow the development of the downward structure of January 17. The downward movement is expected after the breakdown of 0.7113. In this case, the target is 0.7091 and in the range of 0.7091 - 0.7072 is the short-term downward movement, as well as consolidation. A potential value for the bottom is considered to be the level of 0.7046, after reaching which we expect a rollback to the top.

The short-term uptrend is possible in the range of 0.7151 - 0.7167 and the breakdown of the latter value will lead to an in-depth correction. Here, the target is 0.7184 and this level is the key support for the downward structure.

The main trend is the downward structure of January 17.

Trading recommendations:

Buy: 0.7151 Take profit: 0.7165

Buy: 0.7169 Take profit: 0.7184

Sell: 0.7110 Take profit: 0.7095

Sell: 0.7087 Take profit: 0.7074

For the currency pair Euro / Yen, the key levels on the H1 scale are 127.22, 126.70, 125.79, 125.15, 123.74 and 123.05. Here, the price is in equilibrium. An upward movement is expected after the breakdown of 125.15. In this case, the target is 125.79 and price consolidation is near this level. The breakdown of 125.80 must be accompanied by a pronounced upward movement. Here, the goal is 126.70. The potential value for the top is considered the level of 127.22, after reaching which we expect a consolidated movement, as well as a rollback to the top.

The short-term downward movement is possible in the range of 123.74 - 123.05 and the breakdown of the latter value will have to form a downward structure. In this case, the potential target is 122.03, up to this level, we expect clearance of the expressed initial conditions for the downward cycle.

The main trend is the equilibrium situation.

Trading recommendations:

Buy: 125.15 Take profit: 125.76

Buy: 125.82 Take profit: 126.70

Sell: 123.70 Take profit: 123.10

Sell: 123.05 Take profit: 122.10

For the currency pair Pound / Yen, the key levels on the H1 scale are 145.74, 144.44, 143.91, 142.82, 141.94, 141.04, 140.21 and 139.31. Here, we are following the development of the ascending structure of January 15. The short-term upward movement is possible in the range of 141.94 - 142.82 and we expect further upward movement after the breakdown of 142.82. In this case, the target is 143.91, and in the range of 143.91 - 144.44 is the price consolidation. The potential value for the top is considered the level of 145.74, upon reaching which we expect a rollback downwards.

The short-term downward movement is possible in the range of 141.04 - 140.21 and the breakdown of the latter value will lead to an in-depth correction. Here, the target is 139.31 and this level is the key support for the top.

The main trend is the local ascending structure of January 15.

Trading recommendations:

Buy: 142.00 Take profit: 142.80

Buy: 142.84 Take profit: 143.90

Sell: 141.00 Take profit: 140.30

Sell: 140.20 Take profit: 139.40