11.01.202112:05 Forex Analysis & Reviews: Fractal analysis for major pairs on January 11, 2021

Outlook on January 11:

Analytical overview of major pairs on the H1 TF:

The key levels for the euro/dollar pair are 1.2253, 1.2222, 1.2205, 1.2168, 1.2142, 1.2104 and 1.2081. Following the development of the downward trend from January 7, a short-term decline is expected in the range of 1.2168 - 1.2142. If the last value breaks down, there will be a strong decline towards the target of 1.2104. The next potential target to decline is the level of 1.2081. Upon reaching which, price consolidation and upward pullback can be expected.

Short-term growth, in turn, is possible in the range of 1.2205 - 1.2222. If the last value breaks down, a deep correction will occur, with the target of 1.2253. After reaching this level, we can anticipate price consolidation and the formation of initial conditions for an upward trend.

The main trend is the downward trend from January 7

Trading recommendations:

Buy: 1.2205 Take profit: 1.2222

Buy: 1.2224 Take profit: 1.2250

Sell: 1.2168 Take profit: 1.2144

Sell: 1.2140 Take profit: 1.2105

The key levels for the pound/dollar pair are 1.3620, 1.3556, 1.3530, 1.3480, 1.3418, 1.3376 and 1.3317. Following the price's formation of a potential from the downward trend on January 4, we expect the downward movement to continue after the breakdown of 1.3480. In this case, the target is 1.3418. In view of this, there is a short-term decline and consolidation in the range of 1.3418 - 1.3376. The potential downside target is the level of 1.3317. Upon reaching which, price consolidation and upward pullback can be expected.

Meanwhile, short-term growth is expected in the range of 1.3530 - 1.3556. If the last value breaks down, a deep correction will occur. The target is 1.3620, which is the key support level for decline.

The main trend is the downward trend from January 4

Trading recommendations:

Buy: 1.3530 Take profit: 1.3555

Buy: 1.3558 Take profit: 1.3620

Sell: 1.3478 Take profit: 1.3420

Sell: 1.3417 Take profit: 1.3377

The key levels for the dollar/franc pair are 0.8966, 0.8933, 0.8909, 0.8876, 0.8842, 0.8824 and 0.8800. Following the upward trend from January 6, we expect the upward movement to continue after the breakdown of 0.8876, with the target of 0.8909. On the other hand, there is a short-term growth and consolidation in the range of 0.8909 - 0.8933. The potential upward target is the level of 0.8966. Upon reaching which, price consolidation and downward pullback are possible.

On another note, short-term decline is possible in the range of 0.8842 - 0.8824. If the last value breaks down, a deep correction will occur. Here, the potential target is 0.8800, which is the key support level for growth.

The main trend is the upward trend from January 6

Trading recommendations:

Buy: 0.8877 Take profit: 0.8909

Buy: 0.8911 Take profit: 0.8931

Sell: 0.8841 Take profit: 0.8825

Sell: 0.8822 Take profit: 0.8800

The key levels for the dollar/yen are 104.84, 104.66, 104.34, 104.13, 103.79, 103.66 and 103.40. Following the development of the upward trend from January 6, we expect a short-term upward movement in the range of 104.13 - 104.34. If the last value breaks down, it should be accompanied by a strong growth towards the next target of 104.66. This will be followed by the potential upward target at 104.84. Upon reaching which, price consolidation and downward pullback are expected.

Short-term decline is expected in the range of 103.79 - 103.66. If the last value breaks down, a deep correction will occur, with the target of 103.45. This is the key support level for the upward trend from January 6.

The main trend is the upward trend from January 6

Trading recommendations:

Buy: 104.14 Take profit: 104.32

Buy: 104.36 Take profit: 104.65

Sell: 103.79 Take profit: 103.66

Sell: 103.64 Take profit: 103.43

The key levels for the USD/CAD pair are 1.2870, 1.2833, 1.2807, 1.2767, 1.2726, 1.2692 and 1.2629. Following the upward trend from January 6, we expect the upward movement to continue after the breakdown of 1.2767, with the target of 1.2807. In this case, there is a short-term growth and consolidation in the range of 1.2807 - 1.2833. The next potential upward target is the level of 1.2870. Upon reaching which, price consolidation and downward pullback are likely.

A short-term decline, on the contrary, is expected in the range of 1.2726 - 1.2692. The breakdown of the last value will encourage the development of a downward trend. In this case, the potential target is 1.2630.

The main trend is the upward trend from January 6

Trading recommendations:

Buy: 1.2768 Take profit: 1.2807

Buy: 1.2808 Take profit: 1.2832

Sell: 1.2725 Take profit: 1.2694

Sell: 1.2690 Take profit: 1.2631

The key levels for the AUD/USD pair are 0.7770, 0.7736, 0.7690, 0.7654, 0.7629, 0.7592 and 0.7570. Following the downward trend from January 6, we expect the downward movement to continue after the breakdown of 0.7690, with the target of 0.7654. Against this background, there is a short-term decline and consolidation in the range of 0.7654 - 0.7629. If the last value breaks down, the development of the strong movement towards the target of 0.7592 will follow. The next potential downward target is 0.7570. Upon reaching which, price consolidation and upward pullback can be expected.

In turn, short-term growth is expected in the range of 0.7736 - 0.7770. If the last value breaks down, it will encourage the formation of an upward trend. In this case, the potential target will be 0.7825.

The main trend is the downward trend from January 6

Trading recommendations:

Buy: 0.7736 Take profit: 0.7770

Buy: 0.7773 Take profit: 0.7825

Sell: 0.7690 Take profit: 0.7655

Sell: 0.7653 Take profit: 0.7631

The key levels for the euro/yen pair are 128.82, 128.37, 128.07, 127.62, 127.07, 126.72 and 126.43. Following the development of the upward trend from January 5, we expect the upward movement to continue after the breakdown of 127.62, with the target of 128.07. Moreover, short-term growth and consolidation are observed in the range of 128.07 - 128.37. Here, the next potential upward target is the level of 128.82. Upon reaching which, price consolidation and downward pullback are possible.

On the other hand, short-term decline is expected in the range of 127.07 - 127.72. If the last value breaks down, a deep movement will occur. The target is 126.43, which is the key support level for growth.

The main trend is the upward trend from January 5

Trading recommendations:

Buy: 127.62 Take profit: 128.07

Buy: 128.10 Take profit: 128.35

Sell: 126.72 Take profit: 126.46

Sell: 126.40 Take profit: 126.00

The key levels for the pound/yen pair are 143.04, 142.10, 141.41, 140.32, 139.63 and 138.88. Following the price's local upward trend from January 5 high, we expect a short-term growth and consolidation in the range of 141.41 - 142.10. In this case, the potential upward target is the level of 143.04. Upon reaching which, price consolidation and downward pullback can be expected.

Short-term decline, in turn, is expected in the range of 140.32 - 139.63. The breakdown of the last value will encourage the formation of a potential for a downward trend. In this case, the first target is 138.88.

The main trend is the upward trend from December 21 & the local upward trend from January 5

Trading recommendations:

Buy: 141.43 Take profit: 142.08

Buy: 142.12 Take profit: 143.04

Sell: 140.32 Take profit: 139.80

Sell: 139.61 Take profit: 138.90