18.03.201908:13 Forex Analysis & Reviews: Fractal analysis of major currency pairs on March 18

Dear colleagues.

For the currency pair Euro / Dollar, the upward trend development is expected after the price passes the range of 1.1345 - 1.1360. For the currency pair Pound / Dollar, we should continue the development of the upward structure of March 11 after the breakdown of 1.3387 and the level of 1.3144 is the key support. For the currency pair Dollar / Franc, we are following the development of the downward cycle of March 7 and we are going to move downwards after the breakdown of 1.0012. For the currency pair Dollar / Yen, the price is in correction from the rising structure on March 13 and the level of 111.27 is the key support. For the currency pair Euro / Yen, we follow the development of the upward cycle of March 8 and an impulsive movement is expected after the breakdown of 126.90. For the currency pair Pound / Yen, we are following the uptrend structure of March 11 as the main trend; the level of 149.26 is the key resistance and the level of 145.76 is the key support.

Forecast for March 18:

Analytical review of H1-scale currency pairs:

For the currency pair Euro / Dollar, the key levels on the H1 scale are 1.1416, 1.1390, 1.1360, 1.1345, 1.1317, 1.1300, 1.1271 and 1.1249. We continue to follow the development of the ascending structure of March 7. The short-term upward movement is expected in the area of 1.1345 - 1.1360 and the breakdown of the last value should be accompanied by a pronounced upward movement. The target is 1.1390. The potential value for the top is considered the level of 1.1416, upon reaching which we expect a rollback downwards.

The development of a prolonged correction is expected after the breakdown of 1.1300. The potential target is 1.1271 and this level is the key support for the upward structure. Its price passage will have to form a downward structure. In this case, the first potential target is 1.1249.

The main trend is the upward structure of March 7, the stage of correction.

Trading recommendations:

Buy 1.1361 Take profit: 1.1390

Buy 1.1392 Take profit: 1.1414

Sell: 1.1290 Take profit: 1.1275

Sell: 1.1270 Take profit: 1.1250

For the currency pair Pound / Dollar, the key levels on the H1 scale are 1.3587, 1.3509, 1.3462, 1.3387, 1.3267, 1.3214 and 1.3144. We are following the development of the ascending structure of March 11. The continuation of the upward movement is expected after the breakdown of 1.3387. In this case, the target is 1.3462 and in the area of 1.3462 - 1.3509 is the short-term upward movement. The potential value for the top is considered the level of 1.3587, upon reaching which we expect a rollback downwards.

The consolidated movement is expected in the range of 1.3267 - 1.3214 and the breakdown of the latter value will lead to an in-depth correction. The target is 1.3144 and this level is the key support for the upward trend.

The main trend is the upward structure of March 11.

Trading recommendations:

Buy: 1.3388 Take profit: 1.3462

Buy: 1.3510 Take profit: 1.3585

Sell: Take profit:

Sell: 1.3112 Take profit: 1.3145

For the currency pair Dollar / Franc, the key levels on the H1 scale are 1.0082, 1.0057, 1.0045, 1.0025, 1.0012, 0.9993, 0.9980 and 0.9956. We are following the development of the downward cycle of March 7. The downward movement is expected after the price passes the range of 1.0025 - 1.0012. In this case, the target is 0.9993 and in the area of 0.9993 - 0.9980 is the price consolidation. The potential value for the bottom is considered the level of 0.9956, upon reaching which we expect a rollback to the top.

The short-term upward movement is possible in the area of 1.0045 - 1.0057 and the breakdown of the last value will lead to a deep correction. The target is 1.0082 and this level is the key support for the downward cycle.

The main trend is the downward cycle of March 7.

Trading recommendations:

Buy: 1.0045 Take profit: 1.0056

Buy: 1.058 Take profit: 1.0080

Sell: 1.0012 Take profit: 0.9995

Sell: 0.9980 Take profit: 0.9956

For the currency pair Dollar / Yen, the key levels on the scale of H1 are 112.90, 112.73, 112.48, 112.28, 112.00, 111.78, 111.50 and 111.27. We follow the formation of the initial conditions for the upward cycle of March 13. The continuation of the upward movement is expected after the breakdown of 111.78. In this case, the first target is 112.00 and the breakdown of which will lead to the movement to the level of 112.28, consolidation is near this value. The short-term upward movement is expected in the range of 112.28 - 112.48, hence there is a high probability of a reversal in the correction. For now, the potential value for the top is considered to be the level of 112.90, after reaching which we expect a consolidated movement in the area of 112.73 - 112.90.

The short-term downward movement is possible in the area of 111.50 - 111.27, hence there is a high probability of a reversal upwards. The breakdown of the level of 111.27 will lead to the cancellation of the ascending structure of March 13. The potential target is 110.97.

The main trend is the formation of the initial conditions for the ascending cycle of March 13.

Trading recommendations:

Buy: 111.78 Take profit: 112.00

Buy: 112.02 Take profit: 112.28

Sell: Take profit:

Sell: 111.48 Take profit: 111.30

For the currency pair Canadian Dollar / Dollar, the key levels on the H1 scale are 1.3400, 1.3371, 1.3353, 1.3305, 1.3278, 1.3260, 1.3228 and 1.3200. We are following the development of the downward cycle of March 8. At the moment, the price is in a deep correction. The continuation of the downward movement is expected after the breakdown level of 1.3305. The first target is 1.3278. The price passage of the range of 1.3278 - 1.3260 must be accompanied by a pronounced movement. In this case, the target is 1.3228. The potential value for the bottom is considered the level of 1.3200, after reaching which we expect consolidation, as well as a rollback to the top.

The short-term upward movement is expected in the area of 1.3353 - 1.3371 and the breakdown of the latter value will have to form the expressed initial conditions for the upward cycle of March 15. In this case, the target is 1.3400.

The main trend is the downward cycle of March 8, the stage of correction.

Trading recommendations:

Buy: 1.3353 Take profit: 1.3370

Buy: 1.3373 Take profit: 1.3400

Sell: 1.3305 Take profit: 1.3280

Sell: 1.3260 Take profit: 1.3230

For the currency pair Australian Dollar / Dollar, the key levels on the H1 scale are 0.7154, 0.7121, 0.7101, 0.7072, 0.7055, 0.7032 and 0.7000. We are following the ascending structure of March 8 as the main trend. The short-term upward movement is expected in the area of 0.7101 - 0.7121 and the breakdown of the latter value should be accompanied by a pronounced upward movement. The potential target is 0.7154, upon reaching this level, we expect consolidation.

The short-term downward movement is possible in the area of 0.7072 - 0.7055 and the breakdown of the last value will lead to a prolonged correction. The target is 0.7032 and this level is the key support for the top.

The main trend is the ascending structure of March 8.

Trading recommendations:

Buy: 0.7101 Take profit: 0.7120

Buy: 0.7122 Take profit: 0.7152

Sell: 0.7072 Take profit: 0.7055

Sell: 0.7053 Take profit: 0.7033

For the currency pair Euro / Yen, the key levels on the H1 scale are 127.84, 127.28, 126.90, 126.68, 126.11, 125.86 and 125.40. We are following the development of the ascending structure of March 8. The short-term upward movement is expected in the area of 126.68 - 126.90 and the breakdown of the latter value will lead to the movement to the level of 127.28, near this level, we expect consolidation. The potential value for the top is considered the level of 127.84, after reaching this level, we expect a departure to a correction.

The short-term downward movement is possible in the area of 126.11 - 125.86 and the breakdown of the last value will lead to a prolonged correction. The goal is 125.40 and this level is the key support for the top.

The main trend is the ascending structure of March 8.

Trading recommendations:

Buy: 126.68 Take profit: 126.90

Buy: 126.95 Take profit: 127.25

Sell: 126.11 Take profit: 125.88

Sell: 125.82 Take profit: 125.44

For the currency pair Pound / Yen, the key levels on the H1 scale are 150.84, 150.25, 149.26, 148.68, 147.43, 146.76 and 145.76. We are following the development of the ascending structure of March 11. We expect a short-term upward movement in the area of 148.68 - 149.26 and the breakdown of the last value should be accompanied by a pronounced upward movement. The target is 150.25. The potential value for the top is considered the level of 150.84, upon reaching which we expect a rollback downwards.

The short-term downward movement is possible in the area of 147.43 - 146.76 and the breakdown of the latter value will lead to a prolonged correction. The target is 145.76 and this level is the key support for the upward movement.

The main trend is the upward structure of March 11.

Trading recommendations:

Buy: 148.70 Take profit: 149.25

Buy: 149.30 Take profit: 150.25

Sell: 147.40 Take profit: 146.80

Sell: 146.70 Take profit: 145.90