09.10.202009:53 Forex Analysis & Reviews: Fractal analysis for major currency pairs on October 9

Outlook on October 9:

Analytical overview of major pairs on the H1 TF:

The key levels for the euro/dollar pair on the H1 chart are 1.1904, 1.1878, 1.1835, 1.1805, 1.1774, 1.1720, 1.1696 and 1.1663. The local bullish structure from October 2 is still being monitored here. The growth of the pair is expected to continue after breaking through the level of 1.1774. In this case the first target is 1.1805. If this value breaks down, it will allow us to expect a movement to the level of 1.1835. A price consolidation is expected near this level. Here, the breakdown of the lat value will lead to a strong movement. The next target will be 1.1878. For the potential value for the top, we consider the level 1.1904. Upon reaching which, we expect a downward pullback.

The key support is the level of 1.1720 and its breakdown will lead to the cancellation of the upward structure. Here, the first target is 1.1696. If this level breaks down, it will lead to the development of a downward trend. Our target will then be 1.1663.

The main trend is the local structure of October 2

Trading recommendations:

Buy: 1.1774 Take profit: 1.1805

Buy: 1.1807 Take profit: 1.1833

Sell: 1.1720 Take profit: 1.1697

Sell: 1.1694 Take profit: 1.1665

The key levels for the pound/dollar pair are 1.3250, 1.3170, 1.3107, 1.3016, 1.2882 and 1.2814. Here, we are following the development of the upward structure from September 25. The growth of the pair is expected to continue after the breakdown of 1.3016. In this case, the target is 1.3107. On the other hand, there is a short-term downward movement, as well as consolidation in the range of 1.3107 - 1.3170. We consider the level of 1.3250 as a potential value for the top. Upon reaching which, we expect a consolidated movement and a downward pullback.

A short-term decline is expected in the range of 1.2882 - 1.2814. If the last value breaks down, it will lead to the cancellation of the upward trend. In this case, the formation of initial conditions for the downward direction can be expected.

The main trend is the upward structure from September 25

Trading recommendations:

Buy: 1.3016 Take profit: 1.3107

Buy: 1.3109 Take profit: 1.3168

Sell: Take profit:

Sell: 1.2880 Take profit: 1.2815

The key levels for the dollar/franc pair are 0.9243, 0.9211, 0.9180, 0.9145, 0.9103, 0.9075 and 0.9033. The development of the descending structure from September 25 is being followed here. Now, the decline is expected to continue after breaking through the level of 0.9145. In this case, the target is 0.9103. Moreover, there is a short-term decline in the range of 0.9103 - 0.9075, while price consolidation is near the level of 0.9075. We consider the level of 0.9033 as a potential value for the bottom. Upon reaching which, we expect an upward pullback.

A short-term increase is expected in the range of 0.9180 - 0.9211. If the last value breaks down, it will lead to a deep correction. Here, the potential target is 0.9243, which is the key support for the bottom.

The main trend is the descending structure from September 25

Trading recommendations:

Buy : 0.9180 Take profit: 0.9210

Buy : 0.9213 Take profit: 0.9240

Sell: 0.9143 Take profit: 0.9105

Sell: 0.9101 Take profit: 0.9077

The key levels for the dollar/yen are 106.91, 106.73, 106.45, 106.26, 105.88, 105.70 and 105.41. The development of the upward cycle from October 2 is being followed here. Moreover, a short-term upward movement is expected in the range of 106.26 - 106.45. If the last value breaks down, it will lead to a strong growth. Here, the target is 106.73. For the potential value for the top, we consider the level 106.9. Upon reaching which, we expect consolidation and downward pullback.

A short-term downward movement is possible in the range of 105.88 - 105.70. If the last value breaks down, it will lead to a deep correction. Here, the target is 105.41, which is the key support for the top.

The main trend is the upward structure from October 2

Trading recommendations:

Buy: 106.27 Take profit: 106.44

Buy : 106.46 Take profit: 106.71

Sell: 105.88 Take profit: 105.71

Sell: 105.69 Take profit: 105.42

The key levels for the USD/CAD pair are 1.3328, 1.3274, 1.3232, 1.3210, 1.3179, 1.3135, 1.3110 and 1.3057. Here, we are following the development of the downward trend cycle from September 29. On the other hand, the decline is expected to continue after breaking through the level of 1.3179. In this case, the target is 1.3135. There is a short-term downward movement and consolidation in the range of 1.3135 - 1.3110. If the last value breaks down, it will lead to a strong movement. Here, the potential target is 1.3057, from where an upward pullback can be expected.

A short-term growth is possible in the range of 1.3210 - 1.3232. In case of breakdown of the last value, it will lead to a deep correction. The next target is 1.3274, which is the key support for a downward pattern. In turn, the price passing this level will cancel the formation of initial conditions for an upward cycle. In this case, a potential target is 1.3328.

The main trend is the descending structure from September 29

Trading recommendations:

Buy: 1.3210 Take profit: 1.3231

Buy : 1.3233 Take profit: 1.3274

Sell: 1.3177 Take profit: 1.3135

Sell: 1.3110 Take profit: 1.3060

The key levels for the AUD/USD pair are 0.7326, 0.7277, 0.7243, 0.7190, 0.7151, 0.7128 and 0.7092. The upward structure from September 25 is being followed here. Now, the growth of the pair is expected to continue after breaking through the level of 0.7190. In this case, the target is 0.7243. Meanwhile, there is a short-term upward movement and consolidation in the range of 0.7243 - 0.7277. As a potential value for the top, we consider the level of 0.7326. Upon reaching which, we expect a downward pullback.

A short-term decline is expected in the range of 0.7151 - 0.7128. The breakdown of the last value will lead to a deep correction. Here, the target is 0.7092.

The main trend is the upward structure from September 25

Trading recommendations:

Buy: 0.7192 Take profit: 0.7243

Buy: 0.7245 Take profit: 0.7275

Sell : 0.7151 Take profit : 0.7128

Sell: 0.7126 Take profit: 0.7092

The key levels for the euro/yen pair are 126.40, 125.96, 125.28, 124.88, 124.48, 124.22 and 123.80. Here, we are following the development of the rising structure from October 2. A short-term growth, in turn, is expected in the range of 124.88 - 125.28. If the last value breaks down, it will lead to the development of a strong movement. The target here is 125.96. As a potential value for the top, we consider the level of 126.40. Upon reaching which, we expect consolidation and downward pullback.

A short-term decline is possible in the range of 124.48 - 124.22. If the last value breaks down, it will lead to a deep correction. Here, the target is 123.80, which is a key support for the top.

The main trend is the local upward structure of October 2

Trading recommendations:

Buy: 124.88 Take profit: 125.27

Buy: 125.30 Take profit: 125.96

Sell: 124.22 Take profit: 123.80

Sell: 123.75 Take profit: 123.00

The key levels for the pound/yen pair are 140.44, 139.31, 138.51, 137.32, 136.15, 135.39 and 134.67. Here, we are following the development of the upward cycle of September 23. Now, the pair is expected to continue rising after breaking through the level of 137.40. In this case, the target is 138.50. On the other hand, there is a short-term upward movement, as well as consolidation in the range of 138.51 - 139.31. For the potential value for the top, we consider the level 140.44; upon reaching which, a downward pullback is expected.

A short-term downward movement is expected in the range of 136.15 - 135.39. If the last value breaks down, it will lead to a deep correction. Here, the target is 134.67, which is the key support for the top.

The main trend is the medium-term upward structure of September 23

Trading recommendations:

Buy: 137.40 Take profit: 138.50

Buy: 138.55 Take profit: 139.30

Sell: 136.12 Take profit: 135.40

Sell: 135.37 Take profit: 134.70