30.12.202011:21 Forex Analysis & Reviews: Fractal analysis for major pairs on December 30

Outlook on December 30:

Analytical overview of major pairs on the H1 TF:

The key levels for the euro/dollar pair are: 1.2424, 1.2380, 1.2347, 1.2299, 1.2260, 1.2235 and 1.2207. The development of the formation of the ascending trend from December 21 is being followed here. Therefore, the upward movement is expected to continue after the breakdown of 1.2300. In this case, the target is 1.2347. On the other hand, there is a short-term growth and consolidation in the range of 1.2347 - 1.2380. We consider the level of 1.2424 as a potential upward target. Upon reaching which, price consolidation and downward pullback can be expected.

Short-term decline, in turn, is possible in the range of 1.2260 - 1.2235. If the last value breaks down, a deep correction will occur. Here, the target is 1.2207, which is the upward key support level.

The main trend is the upward trend from December 21

Trading recommendations:

Buy: 1.2300 Take profit: 1.2345

Buy: 1.2350 Take profit: 1.2380

Sell: 1.2260 Take profit: 1.2237

Sell: 1.2233 Take profit: 1.2208

The key levels for the pound/dollar pair are 1.3809, 1.3731, 1.3612, 1.3568, 1.3464 and 1.3377. Here, we are following the upward trend from December 21. In this regard, short-term growth is expected in the range of 1.3568 - 1.3612. If the last value breaks down, it should be accompanied by a strong growth. The target here is 1.3731. On the other hand, we consider the level 1.3809 as a potential upward target. Upon reaching which, a downward pullback is expected.

Meanwhile, short-term decline is expected in the range of 1.3464 - 1.3377, hence a key upward reversal is possible. The breakdown of the last value will favor the development of a downward trend. In this case, the potential target is 1.3190.

The main trend is the upward trend of December 21

Trading recommendations:

Buy: 1.3614 Take profit: 1.3730

Buy: 1.3734 Take profit: 1.3806

Sell: 1.3462 Take profit: 1.3380

Sell: 1.3375 Take profit: 1.3250

The key levels for the dollar/franc pair are 0.8874, 0.8854, 0.8841, 0.8820, 0.8793, 0.8774, 0.8747 and 0.8732. The downward trend from December 28 is being followed here. In this case, we can expect the continuation of the decline is expected after the breakdown of 0.8820. The next target will be 0.8793. On the other hand, there is a short-term downward movement and consolidation in the range of 0.8793 - 0.8774. If the last value breaks down, it will lead to a strong decline. Here, the target is 0.8747. For the potential downward target, the level of 0.8732 will be considered. Upon reaching which, price consolidation and an upward pullback are possible.

On another note, short-term growth is possible in the range of 0.8841 - 0.8854. In case that the last value breaks down, it will lead to a deep correction. The potential target is 0.8874, which is the key support for the decline.

The main trend is the downward trend from December 28

Trading recommendations:

Buy: 0.8841 Take profit: 0.8853

Buy: 0.8855 Take profit: 0.8874

Sell: 0.8820 Take profit: 0.8794

Sell: 0.8791 Take profit: 0.8775

The key levels for the dollar/yen are 103.59, 103.44, 103.25, 103.04, 102.79 and 102.62. The price here forms the potential trend for the downward movement from December 28. Therefore, we can expect the pair to continue declining after the breakdown of 103.25. In this case, the target is 102.79. Meanwhile, the level of 102.62 is considered as a potential upward target. After reaching this level, price consolidation and upward pullback can be expected.

Short-term growth is expected in the range of 103.44 - 103.59. If the last value breaks down, it will be conducive to the formation of initial conditions for an upward cycle. In this case, the potential target is 103.93.

The key trend is build the potential for the low from December 28

Trading recommendations:

Buy: 103.45 Take profit: 103.58

Buy: 103.61 Take profit: 103.90

Sell: 103.25 Take profit: 103.06

Sell: 103.02 Take profit: 102.80

The key levels for the USD/CAD pair are 1.2980, 1.2955, 1.2914, 1.2884, 1.2836, 1.2758, 1.2731 and 1.2689. We are following the upward trend from December 22. Against this background, we expect the upward movement to continue after the breakdown of 1.2836. In this case, the first potential target is 1.2884. At the same time, short-term growth is possible in the range of 1.2884 - 1.2914. If the last value breaks down, it will lead to a strong movement. Here, the target is 1.2955. For the potential upward target, we consider the level of 1.2980. Upon reaching which, a price consolidation and downward pullback can be expected.

A short-term decline is expected in the range of 1.2758 - 1.2731. Here, the breakdown of the last value will lead to the next potential target - 1.2689.

The main trend is the upward trend from December 22

Trading recommendations:

Buy: 1.2836 Take profit: 1.2884

Buy: 1.2886 Take profit: 1.2914

Sell: 1.2758 Take profit: 1.2733

Sell: 1.2729 Take profit: 1.2690

The key levels for the AUD/USD pair are 0.7793, 0.7743, 0.7706, 0.7633, 0.7610, 0.7570 and 0.7533. Here, we are following the upward trend from December 21. Currently, we expect a movement to the level of 0.7706. In this case, short-term upward movement and consolidation are expected in the range of 0.7706 - 0.7743. If the last level breaks down, the pair will continue to the potential target - 0.7793. Upon reaching this level, a pullback into correction is expected.

In turn, short-term decline is expected in the range of 0.7633 - 0.7610. The breakdown of the last value will lead to a deep correction. Here, the target is 0.7570, which is the upward key support level. If the target breaks down, it will lead to the formation of initial conditions for a downward trend. The next potential target here is 0.7533.

The main trend is the upward trend of December 21

Trading recommendations:

Buy: 0.7707 Take profit: 0.7741

Buy: 0.7745 Take profit: 0.7791

Sell: 0.7633 Take profit: 0.7611

Sell: 0.7608 Take profit: 0.7570

The key levels for the euro/yen pair are 127.80, 127.51, 127.30, 126.99, 126.69, 126.53 and 126.29. Here, we are following the formation of the upward trend from December 23. Due to this, the upward movement is expected to continue after the breakdown of 126.99. In this case, the target is 127.30. Meanwhile, short-term growth and consolidation are in the range of 127.30 - 127.51. If the last value breaks down, it will allow us to count on a movement towards a potential target – 127.80. Upon reaching which, price consolidation and downward pullback can be expected.

On the other hand, short-term decline is expected in the range of 126.69 - 126.53. If the last value breaks down, a deep correction will occur. Here, the target is 126.29, which is the upward key support level.

The main trend is the upward trend from December 23

Trading recommendations:

Buy: 127.00 Take profit: 127.30

Buy: 127.33 Take profit: 127.50

Sell: 126.69 Take profit: 126.54

Sell: 126.51 Take profit: 126.30

The key levels for the pound/yen pair are 143.04, 142.10, 141.41, 140.69, 139.63 and 138.88. The development of the upward trend from December 21 is being followed here. Thus, the upward movement is expected to continue after breaking through the level of 140.69. In this case, the first target is 141.41. On the other hand, short-term upward movement and consolidation are in the range of 141.41 - 142.10. As a potential upward target, we consider the level 143.04. Upon reaching which, price consolidation and downward pullback can be expected.

Short-term decline, in turn, is expected in the range of 139.63 - 138.88, wherein a key upward reversal is expected. If the last value breaks down, it will be conducive to the development of a downward trend. In this case, the targets will be determined from the initial conditions on December 24.

The main trend is the upward trend of December 21, correction stage

Trading recommendations:

Buy: 140.70 Take profit: 141.40

Buy: 141.43 Take profit: 142.10

Sell: 139.61 Take profit: 138.90