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Outlook on February 25:
Analytical review of popular currency pairs on the hourly chart:
The key levels for the EUR/USD pair are 1.2315, 1.2276, 1.2237, 1.2220, 1.2190, 1.2162 and 1.2116. The price has been moving in an upward trend since February 17. We expect it to continue rising after it breaks through the noise range of 1.2220 - 1.2237. This will allow us to move to the level of 1.2276. The final potential upward target is set at 1.2315. After reaching this level, the price may consolidate and pullback downwards.
A short-term decline, in turn, is possible in the 1.2190 - 1.2162 range. After the breakdown of 1.2162, a deep correction will occur. The target is set at 1.2116, which is also the key support level.
The main trend is the upward trend from February 17.
Trading recommendations:
Buy: 1.2238 Take profit: 1.2276
Buy: 1.2277 Take profit: 1.2315
Sell: 1.2190 Take profit: 1.2163
Sell: 1.2161 Take profit: 1.2116
The key levels for the GBP/USD pair are 1.4389, 1.4312, 1.4238. 1.4155, 1.4099, 1.4042 and 1.3992. The price has been rising since February 17. In this case, we expect the upward trend to continue after the level of 1.4238 is broken. The target is set at 1.4312. The price may consolidate around this level. The final upward target is 1.4389. After reaching this level, price consolidation and downward pullback can be expected.
Meanwhile, a short-term decline is expected in the 1.4155 - 1.4099 range. If the level of 1.4099 is broken, a deep correction will occur. The target is set at 1.4042. The key support is in the range of 1.4042 - 1.3992.
The main trend is the local upward potential from February 17.
Trading recommendations:
Buy: 1.4238 Take profit: 1.4311
Buy: 1.4313 Take profit: 1.4389
Sell: 1.4155 Take profit: 1.4100
Sell: 1.4097 Take profit: 1.4042
The key levels for the USD/CHF pair are 0.9159, 0.9121, 0.9084, 0.9064, 0.9037, 0.9020 and 0.8991. The price considers the trend from February 16 as a mid-term initial condition. Now, we expect a short-term growth in the 0.9064 - 0.9084 range. After the last value is broken, strong movement will follow towards the target of 0.9121. The price may consolidate around this level. The final potential upward target is 0.9159. After reaching this level, a downward pullback can be expected.
A short-term decline is expected in the 0.9037 - 0.9020 range. A breakout of 0.9020 will lead to a deep correction. The target is set at 0.8991, which is also the key support level.
The main trend is the upward trend from February 16.
Trading recommendations:
Buy: 0.9064 Take profit: 0.9082
Buy: 0.9086 Take profit: 0.9120
Sell: 0.9037 Take profit: 0.9022
Sell: 0.9018 Take profit: 0.8991
The key levels for the USD/JPY are 107.39, 107.02, 106.55, 106.27, 105.86, 105.52, 105.30 and 104.93. The price has been moving in a bullish trend since February 23. Therefore, we expect a short-term upward movement in the 106.27 - 106.55 range. If the last value breaks down, strong growth will continue towards the target of 107.02. The ultimate potential upward target is 107.39. After reaching this level, the price may consolidate and pullback downwards.
A correction is expected after the level of 105.86 is broken. In this case, the target is 105.52. The upward key support is in the range of 105.52 - 105.30. So, the price breaking through it will stimulate the development of a downward trend. The first potential target is 104.93.
The main trend is the upward trend from February 23.
Trading recommendations:
Buy: 106.28 Take profit: 106.55
Buy: 106.57 Take profit: 107.00
Sell: 105.84 Take profit: 105.54
Sell: 105.30 Take profit: 104.95
The key levels for the USD/CAD pair are 1.2643, 1.2581, 1.2539, 1.2482, 1.2456, 1.2408 and 1.2358. The price has been moving downwards since February 17. In this case, we expect the decline to continue after the price breaks through the 1.2482 - 1.2456 range. After that, we will move to the target set at 1.2408. The price may consolidate closer to this level. The final potential downward target is 1.2358. After this level is reached, an upward pullback is possible.
A short-term growth, in turn, is possible in the range of 1.2539 - 1.2581. Once the last value is broken, a deep correction will occur. The target is set at 1.2643, which is also the key support level.
The main trend is the local downward trend from February 17.
Trading recommendations:
Buy: 1.2539 Take profit: 1.2580
Buy: 1.2583 Take profit: 1.2640
Sell: 1.2455 Take profit: 1.2408
Sell: 1.2406 Take profit: 1.2358
The key levels for the AUD/USD pair are 0.8171, 0.8113, 0.8084, 0.8023, 0.7955, 0.7909, 0.7853, 0.7783 and 0.7723. The upward trend that started from February 2 remains. We expect the price to further rise after the level of 0.8023 is broken. In this case, the target is 0.8084. Meanwhile, a short-term growth and consolidation can be expected in the 0.8084 - 0.8113 range. The final potential upward target is 0.8171. After reaching this level, a downward pullback is possible.
On the contrary, a short-term decline is possible in the range of 0.7955 - 0.7909. A breakout of 0.7909 will result in a deep correction. The target is set at 0.7853, which is also the key support level. The price breaking through it will stimulate the development of a downward trend. In this case, the first potential target is 0.7783.
The main trend is the upward trend from February 17.
Trading recommendations:
Buy: 0.8024 Take profit: 0.8084
Buy: 0.8114 Take profit: 0.8170
Sell: 0.7955 Take profit: 0.7910
Sell: 0.7907 Take profit: 0.7855
The key levels for the EUR/JPY pair are 130.52, 130.00, 129.63, 129.10, 128.70, 128.26 and 127.23. The price maintains the local bullish trend from February 17. Thus, we expect a short-term growth in the range of 129.63 - 130.00. Once the last value is broken, the movement will resume to the potential target of 130.52. A downward pullback may occur from this level.
A short-term decline is expected in the 129.10 - 128.70 range. If the level of 128.70 breaks down, a deep correction can be expected. The target is set at 128.26, which is also the key support level.
The main trend is the local upward trend from February 17.
Trading recommendations:
Buy: 129.63 Take profit: 130.00
Buy: 130.02 Take profit: 130.52
Sell: 129.10 Take profit: 128.72
Sell: 128.68 Take profit: 128.26
The key levels for the GBP/JPY pair are 151.39, 150.26, 149.15, 148.15, 147.04 and 146.42. The price has been moving in an upward trend starting from February 4. In this case, we expect the trend to extend after the price breaks through the level of 150.26. The next potential target is 151.39. After reaching this level, a downward pullback can be expected.
A short-term decline, in turn, is expected in the 149.15 - 148.15 range. If the level of 148.15 breaks down, a deep correction will occur. The target is set at 147.04. The key support is in range of 147.04 - 146.42.
The main trend is the local upward trend from February 4.
Trading recommendations:
Buy: 150.26 Take profit: 151.39
Buy: Take profit:
Sell: 149.15 Take profit: 148.17
Sell: 148.13 Take profit: 147.04
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