31.01.201908:25 Forex Analysis & Reviews: Fractal analysis of major currency pairs on January 31

Dear colleagues.

For the Euro / Dollar currency pair, we continue to monitor the rising structure of January 24 and we expect the continuation of the movement after the breakdown of 1.1514. For the currency pair Pound / Dollar, we may continue to move up after a breakdown of 1.3197 - 1.3245. For the currency pair Dollar / Franc, the price forms a local structure of January 28. For the currency pair Dollar / Yen, we expect further downward movement after the breakdown of 108.75. For the currency pair Euro / Yen, we expect further uptrend after the breakdown of 125.15. For the currency pair Pound / Yen, the price is in correction and the range of 142.69 - 142.12 is the key support for the top, and the continuation of the main trend is possible after the breakdown of 144.00.

Forecast for January 31:

Analytical review of H1-scale currency pairs:

For the currency pair Euro / Dollar, the key levels on the H1 scale are 1.1594, 1.1548, 1.1514, 1.1464, 1.1446, 1.1415 and 1.1387. Here, we continue to follow the development of the ascending structure from January 24. The short-term upward movement is possible in the range of 1.1514 - 1.1548 and the breakdown of the latter value will lead to a movement to the potential target of 1.1594, upon reaching which we expect a rollback downwards.

The short-term downward movement is possible in the range of 1.1464 - 1.1446 and the breakdown of the last value will lead to a prolonged correction. Here, the target is 1.1415 and this level is the key support for the top. Its breakdown will lead to the formation of initial conditions for the downward cycle. In this case, the target is 1.1387.

The main trend is the upward structure of January 24.

Trading recommendations:

Buy 1.1514 Take profit: 1.1546

Buy 1.1550 Take profit: 1.1592

Sell: 1.1464 Take profit: 1.1446

Sell: 1.1444 Take profit: 1.1415

For the currency pair Pound / Dollar, the key levels on the H1 scale are 1.3431, 1.3350, 1.3245, 1.3197, 1.3118, 1.3058 and 1.2981. Here, we continue to monitor the rising structure of January 15. At the moment, the price is in correction. An upward movement is expected after the price passes the range of 1.3197 - 1.3245. In this case, the target is 1.3350, and consolidation is near this level. The potential value for the top is considered the level of 1.3431, upon reaching which we expect a rollback downwards.

The consolidated movement is expected in the range of 1.3118 - 1.3058 and the breakdown of the latter value will lead to a deep correction. Here, the target is 1.2981 and this level is the key support for the upward structure.

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

Trading recommendations:

Buy: 1.3245 Take profit: 1.3350

Buy: 1.3353 Take profit: 1.3430

Sell: 1.3118 Take profit: 1.3060

Sell: 1.3055 Take profit: 1.2984

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, the price forms a local structure for the top of January 28. 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, after reaching which we expect consolidation, as well as a rollback to the top.

The short-term downward movement is expected 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 the movement to the level of 0.9847.

The main trend is the ascending structure of January 10, the local structure of January 28.

Trading recommendations:

Buy: 0.9986 Take profit: 1.0032

Buy: 1.0035 Take profit: 1.0065

Sell: 0.9904 Take profit: 0.9880

Sell: 0.9872 Take profit: 0.9848

For the currency pair Dollar / Yen, the key levels on the scale of H1 are 109.50, 109.24, 109.08, 108.75, 108.58, 108.32 and 108.14. Here, we continue to follow the development of the downward structure from January 25. The short-term downward movement is possible in the range of 108.75 - 108.58 and the breakdown of the latter value will lead to a pronounced movement. Here, the goal is 108.32. The potential value for the bottom is considered the level of 108.14, upon reaching which we expect a rollback to the top.

The short-term upward movement is possible in the range of 109.08 - 109.24 and the breakdown of the latter value will lead to a prolonged correction. Here, the goal is 109.50 and this level is the key support for the downward structure.

The main trend is the downward structure of January 25.

Trading recommendations:

Buy: 109.08 Take profit: 109.22

Buy: 109.26 Take profit: 109.50

Sell: 108.75 Take profit: 108.60

Sell: 108.56 Take profit: 108.32

For the currency pair Canadian dollar / Dollar, the key levels on the H1 scale are 1.3244, 1.3190, 1.3163, 1.3124, 1.3098, 1.3074 and 1.3026. Here, we determine the subsequent goals from the downward structure on January 24th. An upward movement is expected after the breakdown of 1.3124. In this case, the target is 1.3098 and in the range of 1.3098 - 1.3074 is the price consolidation. The potential value for the bottom is considered the level of 1.3074, the movement to which is expected after the breakdown of 1.3072.

The short-term upward movement is possible in the range of 1.3163 - 1.3190 and the breakdown of the latter value will lead to a deep correction. Here, the goal is 1.3244 and this level is the key support for the downward structure.

The main trend is the downward structure of January 24.

Trading recommendations:

Buy: 1.3163 Take profit: 1.3190

Buy: 1.3195 Take profit: 1.3242

Sell: 1.3124 Take profit: 1.3098

Sell: 1.3072 Take profit: 1.3030

For the currency pair Australian dollar / Dollar, the key levels on the H1 scale are 0.7359, 0.7336, 0.7296, 0.7267, 0.7225, 0.7208 and 0.7184. Here, we continue to monitor the ascending structure of January 25. An upward movement is expected after the breakdown of 0.7267. In this case, the target is 0.7296 and near this level is the price consolidation. The breakdown of the level of 0.7296 must be accompanied by a pronounced upward movement. Here, the target is 0.7336. The potential value for the top is considered the level of 0.7359, upon reaching which we expect a rollback downwards.

The short-term downward movement is possible in the range of 0.7225 - 0.7208 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 upward structure.

The main trend is the ascending structure of January 25.

Trading recommendations:

Buy: 0.7268 Take profit: 0.7294

Buy: 0.7298 Take profit: 0.7336

Sell: 0.7225 Take profit: 0.7208

Sell: 0.7206 Take profit: 0.7184

For the currency pair Euro / Yen, the key levels on the H1 scale are 127.22, 126.70, 125.79, 125.15, 124.54, 124.23, 123.74 and 123.23. Here, we are following the formation of the local ascending structure from January 24th. 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 the level of 125.80 should 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 124.54 - 124.23 and the breakdown of the latter value will have to form a downward structure. In this case, the potential target is 123.74 and the breakdown of which will allow us to expect a movement to the level of 123.23, up to this level, we expect the initial conditions for the downward cycle.

The main trend is the local ascending structure of January 24.

Trading recommendations:

Buy: 125.15 Take profit: 125.76

Buy: 125.82 Take profit: 126.70

Sell: 124.54 Take profit: 124.25

Sell: 124.20 Take profit: 123.85

For the currency pair Pound / Yen, the key levels on the H1 scale are 146.68, 145.74, 144.86, 144.00, 142.69, 142.12 and 141.37. Here, we are following the development of the ascending structure from January 15. At the moment, the price is in correction. The continuation of the upward movement is expected after the breakdown of 144.00. In this case, the first target is 144.86 and the breakdown of which will allow us to count on the movement to the level of 145.74. The potential value for the top is considered the level of 146.68, 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 142.69 - 142.12 and the breakdown of the last value will lead to an in-depth correction. Here, the target is 141.37 and this level is the key support for the top.

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

Trading recommendations:

Buy: 144.00 Take profit: 144.80

Buy: 144.88 Take profit: 145.74

Sell: 142.69 Take profit: 142.14

Sell: 142.10 Take profit: 141.40