27.04.202111:20 Forex Analysis & Reviews: Fractal analysis of major currency pairs on April 27, 2021

Outlook on April 27:

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

The key levels for the EUR/USD pair are 1.2268, 1.2218, 1.2195, 1.2160, 1.2128, 1.2088, 1.2062 and 1.2023. The price has formed a local upward trend from April 19. Thus, we expect a short-term growth in the range of 1.2128 - 1.2160. If the last value breaks down, this will lead to a strong growth towards the target of 1.2195. After that, is a short-term upward movement, with consolidation can be expected in the 1.2195 - 1.2218 range. The final potential upward target is set at 1.2268. After reaching this level, the price may consolidate and pullback downwards.

The price is likely to consolidate in the range of 1.2088 - 1.2062. If the latter breaks down, a deep correction will occur. The potential target is set at 1.2023, which is the key support level.

The main trend is the local upward trend from April 19.

Trading recommendations:

Buy: 1.2130 Take profit: 1.2160

Buy: 1.2162 Take profit: 1.2195

Sell: Take profit:

Sell: 1.2060 Take profit: 1.2025

The key levels for the GBP/USD pair are 1.4008, 1.3965, 1.3935, 1.3867, 1.3836, 1.3809, 1.3791 and 1.3754. The price considered the downward trend from April 20 as the medium-term initial conditions. The key support is the range of 1.3935 - 1.3965 for the downward trend. The price breaking through it will encourage the formation of initial conditions for the upward trend. The target is set at 1.4008.

A short-term decline is possible in the range of 1.3867 - 1.3836. If the level of 1.3836 is broken, it will favor the development of a downward trend from April 20. The target is seen at 1.3809. If the price breaks through the range of 1.3809 - 1.3791, it will move to a potential target of 1.3754.

The main trend is the downward trend from April 20.

Trading recommendations:

Buy: 1.3935 Take profit: 1.3965

Buy: 1.3967 Take profit: 1.4008

Sell: 1.3867 Take profit: 1.3837

Sell: 1.3835 Take profit: 1.3810

The key levels for the USD/CHF pair are 0.9226, 0.9187, 0.9166, 0.9108, 0.9086, 0.9049, 0.9026 and 0.8977. The price has been following the downward trend from April 1. In this case, we expect a short-term decline in the range of 0.9108 - 0.9086. If the last value is broken, strong decline will continue to the target of 0.9049. The price may consolidate in the 0.9049 - 0.9026 range. The final potential downward target is set at 0.8977. After reaching this level, an upward pullback can be expected.

A short-term growth can be expected in the range of 0.9166 - 0.9187. If the latter breaks down, this will provoke the formation of upward initial conditions. The potential target is set at 0.9226.

The main trend is the downward trend from April 1.

Trading recommendations:

Buy: 0.9166 Take profit: 0.9186

Buy: 0.9188 Take profit: 0.9226

Sell: 0.9108 Take profit: 0.9087

Sell: 0.9084 Take profit: 0.9050

The key levels for the USD/JPY pair are 109.39, 109.11, 108.77, 108.52, 108.08, 107.91, 107.72, 107.50 and 107.36. The price is forming potential initial conditions for the April 23 high. We expect the upward movement to resume after the level of 108.52 is broken. Here, the target is set at 108.77 and the price may consolidate around it. If the level of 108.80 is broken, strong growth will continue to the next target of 109.11. The final potential upward target is considered at 109.39. After reaching this level, a downward pullback is possible.

A short-term decline can be expected in the 108.08 - 107.91 range. If the latter is broken, a deep correction will occur. The target is set at 107.72, which is also the key support level. The price breaking through it will lead to the formation of local initial conditions for the downward trend. The potential target is set at 107.50.

The main trend is the local downward trend from April 9, correction stage.

Trading recommendations:

Buy: 108.52 Take profit: 108.75

Buy: 108.79 Take profit: 109.10

Sell: 108.08 Take profit: 107.92

Sell: 107.89 Take profit: 107.73

The key levels for the USD/CAD pair are 1.2538, 1.2506, 1.2459, 1.2424, 1.2383, 1.2341, 1.2311, 1.2251 and 1.2190. The price has been following the development of the downward trend from April 21. We expect this trend to continue after the level of 1.2383 is broken. The target is set at 1.2341. After that, the price may consolidate in the range of 1.2341 - 1.2311. If the latter breaks down, strong decline will continue to 1.2251 level. The price may consolidate around this level. The ultimate potential downward target is set at 1.2190. After reaching this level, an upward pullback can be expected.

Meanwhile, a short-term growth is expected in the 1.2424 - 1.2459 range. If the level of 1.2459 is broken, a deep correction will occur. The target is set at 1.2506. The key support for this decline is the range of 1.2506 - 1.2538.

The main trend is the downward trend from April 21.

Trading recommendations:

Buy: 1.2424 Take profit: 1.2458

Buy: 1.2460 Take profit: 1.2506

Sell: 1.2382 Take profit: 1.2341

Sell: 1.2310 Take profit: 1.2253

The key levels for the AUD/USD pair are 0.7911, 0.7893, 0.7847, 0.7818, 0.7778, 0.7754, 0.7725 and 0.7698. The price has been following the formation of the initial conditions for the April 22 high. In this context, we expect a short-term growth in the 0.7818 - 0.7847 range. If the latter is broken, strong growth will continue to the next target of 0.7893. The price may consolidate in the range of 0.7893 - 0.7911.

On the other hand, a short-term decline is possible in the 0.7778 - 0.7754 range. If the last value breaks down, strong decline will continue to the target of 0.7725, which is the key support level.

The main trend is the formation of the initial conditions for the upward trend on April 22.

Trading recommendations:

Buy: 0.7818 Take profit: 0.7845

Buy: 0.7850 Take profit: 0.7893

Sell: 0.7778 Take profit: 0.7757

Sell: 0.7753 Take profit: 0.7730

The key levels for the EUR/JPY pair are 131.96, 131.62, 131.32, 130.91, 130.52, 130.30 and 130.02. The price is following the formation of the initial conditions for the April 23 high. We expect growth to resume after the level of 130.91 is broken. The target is set at 131.32. After that, a short-term growth and consolidation will be observed in the 131.32 - 131.62 range. The final potential upward target is set at 131.96. After reaching this level, a downward pullback can be expected.

In turn, a short-term decline can be expected in the range of 130.52 - 130.30. If the latter breaks down, a deep correction will occur. The target is set at 130.02, which is the key support level.

The main trend is the formation of the initial conditions from the April 23 high.

Trading recommendations:

Buy: 130.91 Take profit: 131.30

Buy: 131.34 Take profit: 131.62

Sell: 130.52 Take profit: 130.31

Sell: 130.28 Take profit: 130.04

The key levels for the GBP/JPY pair are 150.91, 105.34, 149.24, 148.78, 148.02, 147.61 and 146.88. The price has been moving in a downward trend since April 20. Now, we expect a short-term decline in the 149.24 - 148.78 range. If the latter is broken, strong decline should continue to the next target of 148.02. Afterwards, the price may consolidate in the range of 148.02 - 147.61. The ultimate potential downward target is set at 146.88. After reaching it, an upward pullback can be expected.

Alternatively, a short-term growth is likely in the 150.34 - 150.91 range. If the level of 150.91 is broken, it will encourage the formation of an upward trend. The potential target is set at 151.94.

The main trend is the downward trend from April 20, correction stage.

Trading recommendations:

Buy: 150.36 Take profit: 150.90

Buy: 150.95 Take profit: 151.90

Sell: 149.24 Take profit: 148.80

Sell: 148.76 Take profit: 148.02