07.04.202008:35 Forex Analysis & Reviews: Fractal analysis of the main currency pairs for April 7

Forecast for April 7:

Analytical review of currency pairs on the scale of H1:

For the euro / dollar pair, the key levels on the H1 scale are: 1.0978, 1.0916, 1.0876, 1.0791, 1.0761, 1.0704 and 1.0622. Here, we are following the development of the descending structure of March 27. The continuation of movement to the bottom is expected after the price passes the noise range 1.0791 - 1.0761. In this case, the target is 1.0704. Price consolidation is near this level. For the potential value for the bottom, we consider the level of 1.0622, upon reaching which, we expect a pullback to the top.

Short-term upward movement is possibly in the range 1.0876 - 1.0916. The breakdown of the last value will lead to an in-depth correction. Here, the target is 1.0978. This level is a key support for the downward structure.

The main trend is the descending structure of March 27

Trading recommendations:

Buy: 1.0876 Take profit: 1.0914

Buy: 1.0918 Take profit: 1.0978

Sell: 1.0760 Take profit: 1.0705

Sell: 1.0702 Take profit: 1.0622

For the pound / dollar pair, the key levels on the H1 scale are: 1.2654, 1.2477, 1.2381, 1.2315, 1.2193, 1.2099, 1.2003 and 1.1931. Here, the price forms little potential for the downward movement of April 2. The continuation of the movement to the bottom is expected after the breakdown of the level of 1.2193. In this case, the target is 1.2099. Price consolidation is near this level. The breakdown of the level of 1.2099 should be accompanied by a pronounced movement to the level of 1.2003. For the potential value for the bottom, we consider the level of 1.1931. Upon reaching this value, we expect a pullback to the top.

Short-term upward movement is possibly in the range of 1.2315 - 1.2381. The breakdown of the latter value will lead to the formation of a local ascending structure. Here, the potential target is 1.2477. This level is a key resistance for the top. For the potential value for the upward trend of March 19, we consider the level of 1.2654.

The main trend is the upward cycle of March 19, the formation of potential for the bottom of April 2

Trading recommendations:

Buy: 1.2315 Take profit: 1.2380

Buy: 1.2383 Take profit: 1.2475

Sell: 1.2193 Take profit: 1.2100

Sell: 1.2097 Take profit: 1.2005

For the dollar / franc pair, the key levels on the H1 scale are: 0.9954, 0.9916, 0.9851, 0.9806, 0.9744, 0.9712 and 0.9675. Here, we are following the ascending structure of March 30. The continuation of the movement to the top is expected after the breakdown of the level of 0.9806. In this case, the target is 0.9851. Price consolidation is near this level. Its breakdown should be accompanied by a pronounced upward movement. Here, the target is 0.9916. For the potential value for the top, we consider the level of 0.9954, from which we expect a pullback to the bottom.

Short-term downward movement is possibly in the range of 0.9744 - 0.9712. The breakdown of the latter value will lead to an in-depth correction. Here, the target is 0.9675. This level is a key support for the top.

The main trend is the upward structure of March 30

Trading recommendations:

Buy : 0.9806 Take profit: 0.9850

Buy : 0.9853 Take profit: 0.9910

Sell: 0.9744 Take profit: 0.9714

Sell: 0.9710 Take profit: 0.9677

For the dollar / yen pair, the key levels on the scale are : 111.11, 110.45, 109.99, 109.32, 108.70, 108.17, 107.58 and 106.88. Here, we are following the formation of the ascending structure of April 1. The continuation of the movement to the top is expected after the breakdown of the level of 109.32. In this case, the target is 109.99. Upon reaching this level, we expect a short-term upward movement in the range of 109.99 - 110.45, as well as consolidation. For the potential value for the top, we consider the level of 111.11. Upon reaching this level, we expect a pullback to the bottom.

Short-term downward movement is possibly in the range of 108.70 - 108.17. The breakdown of the last value will lead to an in-depth correction. Here, the goal is 107.58. This level is a key support for the upward structure.

The main trend: the downward structure of March 25, the formation of potential for the top of April 1

Trading recommendations:

Buy: 109.32 Take profit: 109.97

Buy : 110.00 Take profit: 110.45

Sell: 108.70 Take profit: 108.20

Sell: 108.15 Take profit: 107.70

For the Canadian dollar / US dollar pair, the key levels on the H1 scale are: 1.4653, 1.4498, 1.4369, 1.4246, 1.4085, 1.4017 and 1.3933. Here, the price forms the potential for the top of March 27. The continuation of the movement to the top is expected after the breakdown of the level of 1.4246. In this case, the target is 1.4369. Price consolidation is near this level. The breakdown of the level of 1.4369 will lead to the development of an upward cycle. Here, the first goal is 1.4498. For the potential value for the top, we consider the level of 1.4653. Upon reaching which, we expect a pullback to the bottom.

Short-term downward movement is possibly in the range of 1.4085 - 1.4017. The breakdown of the latter value will lead to the development of a downward structure. In this case, the first target is 1.3933.

The main trend is the formation of the rising structure of March 27.

Trading recommendations:

Buy: 1.4248 Take profit: 1.4367

Buy : 1.4371 Take profit: 1.4498

Sell: 1.4085 Take profit: 1.4018

Sell: 1.4015 Take profit: 1.3935

For the Australian dollar / US dollar pair, the key levels on the H1 scale are : 0.6596, 0.6511, 0.6352, 0.6241, 0.6031, 0.5935 and 0.5779. Here, we are following the development of the upward cycle of March 19. At the moment, we expect a movement to the level of 0.6241. Short-term downward movement, as well as consolidation is in the range of 0.6241 - 0.6352. The breakdown of the level of 0.6352 will lead to a pronounced upward movement. Here, the potential target is 0.6595. Price consolidation is in the range of 0.6595 - 0.6511.

Short-term downward movement is possibly in the range of 0.6031 - 0.5935. The breakdown of the last value will lead to an in-depth correction. Here, the target is 0.5779. This level is a key support for the top.

The main trend is the upward structure of March 19

Trading recommendations:

Buy: 0.6241 Take profit: 0.6350

Buy: 0.6354 Take profit: 0.6511

Sell : 0.6030 Take profit : 0.5935

Sell: 0.5933 Take profit: 0.5780

For the euro / yen pair, the key levels on the H1 scale are: 121.07, 119.67, 118.74, 117.95, 117.12, 116.48, 115.23 and 114.05. Here, we are following the development of the descending structure of March 25. The continuation of the movement to the bottom is expected after the price passes the noise range 117.12 - 116.48. In this case, the target is 115.23. Price consolidation is near this level. For the potential value for the bottom, we consider the level of 114.05. Upon reaching which, we expect a pullback to the top.

Short-term upward movement is possibly in the range of 117.95 - 118.74. The breakdown of the last value will lead to an in-depth correction. Here, the target is 119.67. This level is a key support for the downward structure.

The main trend is the descending structure of March 25

Trading recommendations:

Buy: 117.95 Take profit: 118.72

Buy: 118.76 Take profit: 119.65

Sell: 116.45 Take profit: 115.25

Sell: 115.20 Take profit: 114.05

For the pound / yen pair, the key levels on the H1 scale are : 140.54, 138.12, 136.99, 134.93, 133.59, 131.58, 129.78 and 127.47. Here, we are following the development of the upward cycle of March 18. Short-term upward movement is expected in the range of 133.59 - 134.93. The breakdown of the last value should be accompanied by a pronounced upward movement. Here, the target is 136.99. Price consolidation is in the range of 136.99 - 138.12. For the potential value for the top, we consider the level of 140.54. Upon reaching this level, we expect a pullback to the bottom.

Short-term downward movement is possibly in the range of 131.58 - 129.78. The breakdown of the latter value will lead to in-depth movement. Here, the target is 127.47. This level is a key support for the upward structure.

The main trend is the upward cycle of March 18

Trading recommendations:

Buy: 133.60 Take profit: 134.90

Buy: 134.95 Take profit: 136.99

Sell: 131.58 Take profit: 129.80

Sell: 129.70 Take profit: 127.50