13.03.201908:32 Forex Analysis & Reviews: Fractal analysis of major currency pairs on March 13

Dear colleagues.

For the currency pair Euro / Dollar, we follow the upward cycle of March 7 and the development of which is expected after the breakdown of 1.1317. For the currency pair Pound / Dollar, the situation is in equilibrium; the level of 1.3008 is the key resistance for the bottom and the level of 1.3180 for the top. For the currency pair Dollar / Franc, the price is in a correction; we expect further uptrend after the breakdown of 1.0124 and the level of 1.0058 is the key support. For the currency pair Dollar / Yen, we are expecting the continuation of the downward movement after the breakdown of 110.90 and the level of 111.65 is the key support. For the currency pair Euro / Yen, we follow the formation of the ascending structure from March 8 and we expect further upward movement after the breakdown of 125.84. For the currency pair Pound / Yen, the price is in the equilibrium state of March 11; the level of 144.23 is the key resistance for the descending structure and the level of 147.01 for the ascending one.

Forecast for March 13:

Analytical review of H1-scale currency pairs:

For the currency pair Euro / Dollar, the key levels on the H1 scale are 1.1360, 1.1345, 1.1317, 1.1300, 1.1270, 1.1244, 1.1227, 1.1202 and 1.1173. We are following the development of the ascending structure of March 7. The price passage of the range of 1.1300 - 1.1317 should be accompanied by a pronounced upward movement. The target is 1.1345. For now, the potential value for the top is considered the level of 1.1360, after reaching which we expect consolidation, as well as a rollback to the top.

The breakdown of the level of 1.1270 will lead to the development of corrective movement. The target is 1.1244 and in the area of 1.1244 - 1.1227 is the short-term downward movement. The breakdown of the level of 1.1227 will have to form local initial conditions for the downward trend. The target is 1.1202.

The main trend is the upward structure of March 7.

Trading recommendations:

Buy 1.1300 Take profit: 1.1316

Buy 1.1318 Take profit: 1.1344

Sell: 1.1270 Take profit: 1.1245

Sell: 1.1225 Take profit: 1.1204

For the currency pair Pound / Dollar, the key levels on the H1 scale are 1.3462, 1.3387, 1.3330, 1.3267, 1.3180, 1.3134, 1.3008, 1.2958, 1.2906 and 1.2804. The price entered an equilibrium state: the rising structure of March 11 and the formation of potential for the bottom of March 12. We continue the development of the downward structure after the breakdown of 1.3008. The first target is 1.2958. The breakdown of which will allow us expecting a movement to the level of 1.2906, and consolidation is near this level. We consider the level of 1.2804 as a potential value for the bottom. The range of 1.3134 - 1.3180 is the key resistance for the subsequent development of the upward trend. Its price passage will lead to the movement to the level of 1.3267. The breakdown of which will begin the development of the upward cycle on the H1 scale. The first target is 1.3330.

The main trend is the equilibrium situation.

Trading recommendations

Buy: 1.3135 Take profit: 1.3180

Buy: 1.3184 Take profit: 1.3265

Sell: 1.3008 Take profit: 1.2960

Sell: 1.2956 Take profit: 1.2906

For the currency pair Dollar / Franc, the key levels on the H1 scale are 1.0180, 1.0141, 1.0124, 1.0106, 1.0084, 1.0058 and 1.0027. We continue to monitor the upward cycle from February 28. At the moment, the price is in the area of correction. The short-term upward movement is expected in the area of 1.0124 - 1.0141. The breakdown of the last value will allow to expect a movement towards a potential target - 1.0180, upon reaching this level, we expect a rollback downwards.

The consolidated movement is expected in the area of 1.0084 - 1.0058 and the breakdown of the latter value will have to form the initial conditions for the downward cycle. In this case, the goal is 1.0027.

The main trend is the upward cycle of February 28, the stage of correction.

Trading recommendations:

Buy: 1.0124 Take profit: 1.0140

Buy: 1.0141 Take profit: 1.0180

Sell: Take profit:

Sell: 1.0055 Take profit: 1.0027

For the currency pair Dollar / Yen, the key levels on the scale are 111.65, 111.37, 111.22, 110.90, 110.69, 110.53, 110.26 and 110.10. We continue to monitor the formation of the initial conditions for the downward movement of March 5. At the moment, the price is in the correction zone. A downward movement is expected after the breakdown of 110.90. In this case, the target is 110.69 and in the area of 110.69 - 110.53 is the short-term downward movement, as well as consolidation. The breakdown of the level of 110.53 should be accompanied by a pronounced downward movement. The goal is 110.26. The potential value for the bottom is considered the level of 110.10, after reaching which we expect a departure to the correction.

The short-term upward movement is possible in the area of 111.37 - 111.65, hence we expect a key reversal downwards. The breakdown of the level of 111.65 will have the formation of the initial conditions for the top. The potential target is 112.07.

The main trend is the formation of the initial conditions for the bottom of March 5.

Trading recommendations:

Buy: 111.40 Take profit: 111.65

Buy: 111.68 Take profit: 112.05

Sell: 110.90 Take profit: 110.69

Sell: 110.53 Take profit: 110.26

For the currency pair Canadian Dollar / Dollar, the key levels on the H1 scale are 1.3424, 1.3392, 1.3371, 1.3347, 1.3326, 1.3305, 1.3278 and 1.3260. We are following the development of the downward cycle of March 8. We expect a short-term downward movement in the range of 1.3347 - 1.3326. The breakdown of the latter value will lead to the movement to the level of 1.3305 and we expect consolidation near this value. The breakdown of the level of 1.3305 should be accompanied by a pronounced downward movement. The target is 1.3278. The potential value for the bottom is considered the level of 1.3260, upon reaching which we expect a rollback to the top.

The consolidated movement is possible in the area of 1.3371 - 1.3392 and the breakdown of the latter value will lead to an in-depth correction. The target is 1.3424 and this level is the key support for the downward structure.

The main trend is the downward cycle of March 8.

Trading recommendations:

Buy: 1.3371 Take profit: 1.3390

Buy: 1.3394 Take profit: 1.3422

Sell: 1.3347 Take profit: 1.3327

Sell: 1.3324 Take profit: 1.3305

For the currency pair Australian Dollar / Dollar, the key levels on the H1 scale are 0.7088, 0.7072, 0.7051, 0.7026, 0.7010, 0.6978 and 0.6951. The price is in deep correction from the downward trend on February 27. The short-term downward movement is expected in the area of 0.7026 - 0.7010 and the breakdown of the latter value will lead to the movement to the level of 0.6978, near which we expect consolidation. The potential value for a descending structure is considered the level of 0.6951, upon reaching this level, we expect a rollback to the top.

We expect the initial conditions for the ascending cycle before the range of 0.7072 - 0.7088. The breakdown of the level of 0.7090 will allow us to count on the development of a pronounced movement. The potential target is 0.7126.

The main trend is the downward cycle of February 27, the stage of deep correction.

Trading recommendations:

Buy: 0.7072 Take profit: 0.7084

Buy: 0.7090 Take profit: 0.7124

Sell: 0.7010 Take profit: 0.7980

Sell: 0.6976 Take profit: 0.6953

For the currency pair Euro / Yen, the key levels on the H1 scale are 127.28, 126.90, 126.33, 126.11, 125.84, 125.40, 125.18 and 124.80. We are following the formation of the ascending structure of March 8. The movement upwards is expected after the breakdown of 125.84. The target is 126.11, and consolidation is near this level. The price passage of the range of 126.11 - 126.33 must be accompanied by a pronounced upward movement. The goal is 126.90. The potential value for the top is considered the level of 127.28, after reaching which we expect a departure to a correction.

The short-term downward movement is possible in the area of 125.40 - 125.18 and the breakdown of the last value will lead to a prolonged correction. The goal is 124.80 and this level is the key support for the upward structure of March 8.

The main trend is the formation of the ascending structure of March 8.

Trading recommendations:

Buy: 125.84 Take profit: 126.10

Buy: 126.35 Take profit: 126.90

Sell: 125.40 Take profit: 125.20

Sell: 125.15 Take profit: 124.85

For the currency pair Pound / Yen, the key levels on the H1 scale are 150.25, 149.26, 148.56, 147.59, 147.01, 146.53, 144.70, 144.23, 143.72 and 142.74. The situation is in equilibrium: the ascending structure of March 11 and the formation of potential for the bottom of March 12. A downward movement is expected after the price passes the range of 144.70 - 144.23. In this case, the first target is 143.72 and the breakdown of which, in turn, must be accompanied by a pronounced move towards a potential target - 142.74, near this level is the consolidation.

The short-term upward movement is possible in the area of 146.53 - 147.01 and the breakdown of the last value will begin the development of the ascending structure from March 11. The first target is 147.59. A pronounced development of the upward trend is expected after the breakdown of 147.60. In this case, the target is 148.56 and in the area of 148.56 - 149.26 is the short-term upward movement, as well as consolidation.

The main trend is the equilibrium situation of March 11.

Trading recommendations:

Buy: 146.53 Take profit: 147.01

Buy: 147.05 Take profit: 147.55

Sell: 144.20 Take profit: 143.72

Sell: 143.68 Take profit: 142.80