14.04.202110:17 Forex Analysis & Reviews: Fractal analysis of major currency pairs on April 14, 2021

Outlook on April 14:

Analysis of popular currency pairs on the hourly (H1) chart:

The key levels for the EUR/USD pair are 1.2044, 1.2010, 1.1995, 1.1970, 1.1951, 1.1934 and 1.1898. The price has been moving in an upward trend since March 31. We expect this trend to continue after breaking through the level of 1.1970. The target is set at 1.1995. The price may consolidate in the 1.1995 - 1.2010 range. The final potential upward target is set at 1.2044. After reaching this level, a downward pullback is possible.

A short-term decline, in turn, is likely in the range of 1.1951 - 1.1934. If the latter is broken, a deep correction will occur. The target is set at 1.1898, which is also the key support level.

The main trend is the upward trend from March 31.

Trading recommendations:

Buy: 1.1970 Take profit: 1.1995

Buy: 1.1996 Take profit: 1.2010

Sell: 1.1950 Take profit: 1.1935

Sell: 1.1930 Take profit: 1.1900

The key levels for the GBP/USD pair are 1.3857, 1.3815, 1.3791, 1.3719, 1.3677, 1.3637, 1.3612, 1.3569 and 1.3534. The price has clarified its targets for the downward trend from April 6. We expect this trend to continue after the level of 1.3719 is broken. The first target is set at 1.3677, whose breakdown will allow us to move to the next level of 1.3637. Afterwards, the price may consolidate in the 1.3637 - 1.3612 range. If the level of 1.3612 is broken, strong decline will continue to the next target of 1.3569. The ultimate potential downward target is set at 1.3534. After reaching this level, an upward pullback may occur.

Once the level of 1.3791 breaks down, the upward trend will develop. The target is set at 1.3815 and price consolidation is around this level. If the target is broken, further growth will continue towards the level of 1.3857.

The main trend is the downward trend from April 6, correction stage.

Trading recommendations:

Buy: 1.3791 Take profit: 1.3815

Buy: 1.3817 Take profit: 1.3855

Sell: 1.3717 Take profit: 1.3678

Sell: 1.3675 Take profit: 1.3637

The key levels for the USD/CHF pair are 0.9283, 0.9248, 0.9226, 0.9187, 0.9161, 0.9108, 0.9086 and 0.9049. The price has been moving in a downward trend since April 1. We expect a short-term decline in the range of 0.9187 - 0.9161. Once the latter is broken, strong decline will continue to the target of 0.9108. Another short-term decline, with consolidation, can be expected in the 0.9108 - 0.9086 range. The final potential downward target is 0.9049. After reaching this level, an upward pullback can be expected.

Meanwhile, short-term growth is possible in the range of 0.9226 - 0.9248. If the latter is broken, a deep correction will occur. The target is set at 0.9283, which is also the key support level.

The main trend is the downward trend from April 1.

Trading recommendations:

Buy: 0.9226 Take profit: 0.9248

Buy: 0.9250 Take profit: 0.9283

Sell: 0.9186 Take profit: 0.9163

Sell: 0.9160 Take profit: 0.9108

The key levels for the USD/JPY pair are 109.44, 109.20. 109.02, 108.78, 108.61, 108.29, 108.13 and 107.80. The next targets from the local downward trend on April 9 are determined. We expect a short-term decline in the range of 108.78 - 108.61. If the last value breaks down, the downward movement will extend to the next target of 108.29. After that, the price may consolidate in the 08.29 - 108.13 range. The ultimate potential downward target is 107.80. After reaching this level, an upward pullback can be expected.

A short-term growth, on the other hand, is expected in the range of 109.02 - 109.20. If the level of 109.20 is broken, a deep correction will occur. The target is set at 109.44, which is also the key support level.

The main trend is the local downward trend from April 9.

Trading recommendations:

Buy: 109.02 Take profit: 109.20

Buy: 109.22 Take profit: 109.44

Sell: 108.60 Take profit: 108.30

Sell: 108.12 Take profit: 107.85

The key levels for the USD/CAD pair are 1.2778, 1.2740, 1.2705, 1.2659, 1.2642, 1.2596, 1.2573, 1.2523, 1.2494, 1.2468, 1.2442 and 1.2426. The price, which is currently in the area of initial conditions, has been moving in an upward trend since April 5. We expect a short-term growth in the 1.2573-1.2596 range. If the latter is broken, strong growth will continue to the next target of 1.2642. After the price breaks through the range of 1.2642 - 1.2659, it will allow us to continue growth to the target of 1.2705. The price may consolidate around this level. If the level of 1.2707 breaks down, the growth may extend to the target of 1.2740. Another price consolidation may also occur around this level. The final potential upward target is the level of 1.2778, from which a downward pullback is likely.

The downward trend, in turn, may develop after the breakdown of the 1.2523 mark. The first target is set at 1.2494. After that, a short-term decline can be expected to the range of 1.2494 - 1.2468. Once the latter is broken, the movement will extend to 1.2442. The price may consolidate in the range of 1.2442 - 1.2426, and hence, an upward pullback can be expected.

The main trend is the upward trend from April 5, correction stage.

Trading recommendations:

Buy: 1.2596 Take profit: 1.2642

Buy: 1.2660 Take profit: 1.2705

Sell: 1.2523 Take profit: 1.2495

Sell: 1.2492 Take profit: 1.2468

The key levels for the AUD/USD pair are 0.7813, 0.7790, 0.7742, 0.7721, 0.7686. 0.7655, 0.7626, 0.7584 and 0.7534. The price has been moving in a bullish trend since April 1. We expect this trend to extend after the level of 0.7686 is broken. The target is set at 0.7721. The price may consolidate in the range of 0.7721 - 0.7742. If the last value breaks down, strong growth will develop towards the target of 0.7790. The ultimate potential upward target is seen at 0.7813, After reaching which, the price may consolidate and pullback downwards.

A short-term decline is likely in the 0.7655 - 0.7626 range. If the last value breaks down, a deep correction will occur. The target is set at 0.7584, which is also the key support level.

The main trend is the upward trend from April 1.

Trading recommendations:

Buy: 0.7687 Take profit: 0.7721

Buy: 0.7743 Take profit: 0.7790

Sell: 0.7655 Take profit: 0.7627

Sell: 0.7624 Take profit: 0.7585

The key levels for the EUR/JPY pair are 131.72, 131.22, 130.98, 130.61, 130.27, 129.86, 129.57 and 129.16. The price has been moving in an upward trend since March 25. We expect a short-term growth in the 130.27 - 130.61 range. If the latter is broken, strong upward movement will continue to the next target of 130.98. After that, the price may consolidate in the range of 130.98 - 131.22. The final potential upward target is set at 131.72. After reaching this level, a downward pullback may occur.

In turn, a short-term decline is possible in the range of 129.86 - 129.57. If the latter breaks down, a deep correction can be expected. The target is set at 129.16, which is the key support level.

The main trend is the upward trend from March 25.

Trading recommendations:

Buy: 130.28 Take profit: 130.60

Buy: 130.63 Take profit: 130.98

Sell: 129.86 Take profit: 129.58

Sell: 129.55 Take profit: 129.16

The key levels for the GBP/JPY pair are 151.64, 150.81, 150.25, 149.42, 148.66, 147.92, 147.45 and 146.45. The price has been moving in a bearish trend since April 6. We expect this trend to extend after the level of 149.42 is broken. The target is set at 148.66 and the price may consolidate near this level. After the break down of the specified target, the strong decline will continue towards the target of 147.92. The price may consolidate in the range of 147.92 - 147.45. The final potential downward target is set at 146.45, from which an upward pullback is expected.

In turn, short-term growth is likely in the 150.25 - 150.81 range. If the last value is broken, a deep correction may follow. The target is set at 151.64, which is also the key support level.

The main trend is the downward trend from April 6.

Trading recommendations:

Buy: 150.25 Take profit: 150.80

Buy: 150.84 Take profit: 151.60

Sell: 149.40 Take profit: 148.68

Sell: 148.64 Take profit: 147.92