28.01.202110:45 Forex Analysis & Reviews: Fractal analysis of major pairs on January 28

Outlook on January 28:

Analytical review of popular currency pairs on the hourly chart:

The key levels for the EUR/USD pair are 1.2154, 1.2134, 1.2116, 1.2072, 1.2049, 1.2038, 1.2015 and 1.1998. Following the development of the downward trend from January 22, we expect the pair to continue its decline after the level of 1.2072 is broken, with a target of 1.2049. After that, a short-term decline and consolidation in the range of 1.2049 - 1.2038 will be considered. If the last value is broken, a sharp decline will follow towards the target of 1.2015. The potential downward target is the level of 1.1998. The pair is likely to consolidate and make an upward pullback after reaching it.

A short-term growth, in turn, is possible in the range of 1.2116 - 1.2134. If the last value is broken, a deep correction will occur, with the target of 1.2154. This is the key support level.

The main trend is the downward trend from January 22

Trading recommendations:

Buy: 1.2116 Take profit: 1.2133

Buy: 1.2135 Take profit: 1.2152

Sell: 1.2072 Take profit: 1.2050

Sell: 1.2036 Take profit: 1.2018

The key levels for the GBP/USD pair are 1.3889, 1.3852, 1.3792, 1.3756, 1.3698, 1.3668, 1.3619 and 1.3521. Following the rising trend from January 11, we can see that the price is currently in correction. There is a short-term growth and consolidation in the range of 1.3756 - 1.3792. If the last value is broken, it will lead to a confident growth towards 1.3852. The potential upward target is 1.3889. The pair is likely to consolidate after reaching it and then make a downward pullback.

Meanwhile, a short-term decline and consolidation may take place in the range of 1.3668 - 1.3619. The upward key support is 1.3619 - 1.3596. The price passing this range will lead to the development of a downward trend, with the potential target of 1.3521.

The main trend is the upward trend from January 11, correction stage

Trading recommendations:

Buy: 1.3756 Take profit: 1.3790

Buy: 1.3793 Take profit: 1.3851

Sell: 1.3666 Take profit: 1.3620

Sell: 1.3594 Take profit: 1.3535

The key levels for the USD/CHF pair are 0.9070, 0.9042. 0.8982, 0.8957, 0.8921, 0.8858, 0.8817 and 0.8756. The existing situation in the four-hour chart is still being considered. Currently, the price is in the zone of initial conditions from January 6. In this case, we expect the pair to continue upwards after the level of 0.8921 is broken, with a target of 0.8957. Price consolidation is near this level. If the price passes the noise range of 0.8957 - 0.8982, a strong growth will occur, targeting the level of 0.9042. It will continue to the final potential upward target - 0.9070. After reaching this level, price consolidation and downward pullback can be expected.

On another note, short-term decline is expected in the range of 0.8858 - 0.8817, hence an upward reversal is very likely. If the last value is broken, further decline can be expected, with a potential target of 0.8756.

The main trend is the upward structure from January 6

Trading recommendations:

Buy: 0.8921 Take profit: 0.8957

Buy: 0.8982 Take profit: 0.9040

Sell: 0.8858 Take profit: 0.8820

Sell: 0.8815 Take profit: 0.8757

The key levels for the USD/JPY are 104.84, 104.71, 104.53, 104.44, 104.25, 104.13 and 103.98. Following the development of the upward trend on January 21, the pair is likely to continue its upward movement towards the level of 104.71 after the price passes the noise range of 104.44 - 104.53. The final potential upward target is the level of 104.84. Once this level is reached, price consolidation and downward pullback can be expected.

A short-term decline is possible in the range of 104.25 - 140.13. If the last value is broken, a deep correction will occur, with a target of 103.98. This is the key support level for growth.

The main trend is the upward trend of January 21

Trading recommendations:

Buy: 104.54 Take profit: 104.70

Buy: 104.72 Take profit: 104.84

Sell: 104.25 Take profit: 104.14

Sell: 104.11 Take profit: 103.98

The key levels for the USD/CAD pair are 1.2975, 1.2919, 1.2891, 1.2851, 1.2810, 1.2791 and 1.2762.Following the development of the bullish trend from January 21, we expect the upward movement to continue after the level of 1.2851 is broken, with a target of 1.2891. There is a short-term growth and consolidation in the range of 1.2891 - 1.2919. The potential upward target is the level of 1.2975. The pair might consolidate after reaching it, followed by a downward pullback.

A consolidated movement, on the contrary, is expected in the range of 1.2810 - 1.2791. If the last value is broken, a deep correction will occur, with a target of 1.2762. This is the key support level. The price overcoming this level will cancel the downward trend. In this case, the potential target is 1.2685.

The main trend is the upward trend from January 21

Trading recommendations:

Buy: 1.2851 Take profit: 1.2890

Buy: 1.2892 Take profit: 1.2919

Sell: 1.2791 Take profit: 1.2762

Sell: 1.2760 Take profit: 1.2715

The key levels for the AUD/USD pair are 0.7707, 0.7675, 0.7651, 0.7633, 0.7598, 0.7581 and 0.7539. Following the development of the downward trend from January 21, the pair may possibly make a short-term decline in the range of 0.7598 - 0.7581. If the last value is broken, further decline will continue towards the potential downward target of 0.7675. Upon reaching this level, price consolidation and upward pullback are possible.

In turn, short-term growth is expected in the range of 0.7633 - 0.7651. If the last value is broken, a deep correction will occur, with a target of 0.7675. This will lead to the formation of initial conditions for an upward trend. The potential target is 0.7707.

The main trend is the downward trend from January 21

Trading recommendations:

Buy: 0.7633 Take profit: 0.7650

Buy: 0.7653 Take profit: 0.7675

Sell: 0.7580 Take profit: 0.7544

Sell: Take profit:

The key levels for the EUR/JPY pair are 127.01, 126.85. 126.57, 126.44, 126.16, 126.02, 125.73. 125.59 and 125.45. Following the development of the upward trend from January 18, we expect the pair to make a short-term growth in the range of 126.02 - 126.16. If the last value is broken, sharp growth will continue towards the target of 126.44. Another short-term upward movement and consolidation of the price is possible in the range of 126.44 - 126.57. If the last value is broken, a strong rise will follow, with a target of 126.85. The ultimate potential upward target is the level 127.01. Once this level is reached, the pair decline.

A short-term decline is possible in the range of 125.73 - 125.59. If the last value is broken, it will lead to a deep correction. The target is 125.45, which is the key upward support level.

The main trend is the bullish trend from January 18, correction stage

Trading recommendations:

Buy: 126.17 Take profit: 126.44

Buy: 126.58 Take profit: 126.85

Sell: 125.73 Take profit: 125.60

Sell: 125.57 Take profit: 125.47

The key levels for the GBP/JPY pair are 143.62, 143.19, 142.75, 142.56, 142.24, 141.90 and 141.37. Following the development of the upward trend from January, we expect the pair to continue growing after the price passes the noise range of 142.56 - 142.75, with a target of 143.19. The ultimate potential upward target is the level of 143.62. The pair may consolidate after reaching it, which will lead to a downward pullback.

Short-term decline, in turn, is possible in the range of 142.24 - 141.90. If the last level is broken, a deep correction will occur, with a target of 141.37. This is the key support level for growth.

The main trend is the upward trend from January 18

Trading recommendations:

Buy: 142.75 Take profit: 143.17

Buy: 143.20 Take profit: 143.61

Sell: 142.24 Take profit: 141.90

Sell: 141.88 Take profit: 141.40