Outlook on December 29:
Analytical overview of major pairs on the H1 TF:
The key levels for the euro/dollar pair are 1.2380, 1.2347, 1.2299, 1.2260, 1.2207, 1.2178 and 1.2129. The formation of the rising trend from December 21 is being followed here. Therefore, the upward movement is expected to continue after the breakdown of 1.2260. In this case, the target is 1.2299 and price consolidation is near this level. On the other hand, the breakdown of the level of 1.2300 will lead to the development of a strong growth. Here, the target is 1.2347. For the potential upward target, the level of 1.2380 is considered. Upon reaching which, price consolidation and downward pullback can be expected.
In turn, short-term decline is possible in the range of 1.2207 - 1.2178, hence there is a high probability of an upward reversal. If the last value breaks down, it will lead to the continuation of a downward trend. In this case, the first potential target is 1.2129.
The main trend is the formation of an upward trend from December 21
Trading recommendations:
Buy: 1.2260 Take profit: 1.2297
Buy: 1.2300 Take profit: 1.2345
Sell: 1.2207 Take profit: 1.2180
Sell: 1.2176 Take profit: 1.2133
The key levels for the pound/dollar pair are 1.3809, 1.3731, 1.3612, 1.3568, 1.3464 and 1.3377. Here, we are following the upward trend from December 21. In this regard, short-term growth is expected in the range of 1.3568 - 1.3612. If the last value breaks down, it should be accompanied by a strong growth. The target here is 1.3731. On the other hand, we consider the level 1.3809 as a potential upward target. Upon reaching which, a downward pullback is expected.
Meanwhile, short-term decline is expected in the range of 1.3464 - 1.3377, hence a key upward reversal is possible. The breakdown of the last value will favor the development of a downward trend. In this case, the potential target is 1.3190.
The main trend is the upward trend of December 21
Trading recommendations:
Buy: 1.3614 Take profit: 1.3730
Buy: 1.3734 Take profit: 1.3806
Sell: 1.3462 Take profit: 1.3380
Sell: 1.3375 Take profit: 1.3250
The key levels for the dollar/franc pair are 0.9011, 0.8987, 0.8951, 0.8939, 0.8918, 0.8880, 0.8867, 0.8843 and 0.8820. The price here is forming a potential for the upward trend of December 18. Now, if the level of 0.8918 breaks down, it will lead the price to the next level of 0.8939. The price overcoming the noise range of 0.8939 - 0.8951 should be accompanied by a strong growth to the level of 0.8987. For the potential upward target, we consider the level of 0.9011. Upon reaching which, downward pullback is expected.
On the other hand, short-term decline is possible in the range of 0.8880 - 0.8867. If the last value breaks down, a deep correction will occur. Here, the potential target is 0.8843, which is the upward key support level. Its breakdown will favor the development of a downward trend. In this case, the potential target is 0.8820.
The main trend is the formation of a potential upward trend from December 18
Trading recommendations:
Buy: 0.8920 Take profit: 0.8939
Buy: 0.8951 Take profit: 0.8985
Sell: 0.8865 Take profit: 0.8844
Sell: 0.8841 Take profit: 0.8822
The key levels for the dollar/yen are 104.78, 104.64, 104.36, 104.17, 103.89, 103.67, 103.44, 103.27, 103.07 and 102.87. The formation of the initial conditions for the upward trend of December 17 is being observed here. In this regard, short-term growth is expected in the range of 103.67 - 103.89. In case that the last value breaks down, it will lead to strong growth. The target here is 104.17. There is a short-term growth and consolidation in the range of 104.17 - 104.36. Meanwhile, if the level of 104.38 breaks down, it will lead to the development of a strong increase. The next target is 104.64. This will be followed by the potential upward target, which is the level of 104.78. Upon reaching which, a downward pullback can be expected.
Short-term decline is expected in the range of 103.44 - 103.27. If the last value breaks down, it will lead to a deep correction. Here, the target is 103.07, which is the key support level for the upward trend.
The main trend is the initial upside conditions of December 17
Trading recommendations:
Buy: 103.91 Take profit: 104.15
Buy: 104.18 Take profit: 104.34
Sell: 103.44 Take profit: 103.28
Sell: 103.25 Take profit: 103.08
The key levels for the USD/CAD pair are 1.2980, 1.2955, 1.2914, 1.2884, 1.2823, 1.2795, 1.2758, 1.2731 and 1.2689. Here, we are following the upward structure from December 17. Currently, the price is in the correction zone. In this case, short-term growth is expected in the range of 1.2884 - 1.2914. If the last value breaks down, it will lead to a strong movement. Here, the target is 1.2955. As an upward potential target, we consider the level 1.2980. Upon reaching which, price consolidation and downward pullback can be expected.
A short-term decline is expected in the range of 1.2823 - 1.2795. If the last value breaks down, it will favor the development of a downward trend from December 22. The target here is 1.2758, while price consolidation is in the range of 1.2758 - 1.2731.
The main trend is the upward trend of December 17, correction stage
Trading recommendations:
Buy: 1.2885 Take profit: 1.2912
Buy: 1.2916 Take profit: 1.2955
Sell: 1.2823 Take profit: 1.2796
Sell: 1.2793 Take profit: 1.2760
The key levels for the AUD/USD pair are 0.7743, 0.7706, 0.7654, 0.7633, 0.7592, 0.7570 and 0.7533. The upward trend from December 21 is being followed here. Therefore, short-term upward movement is expected in the range of 0.7633 - 0.7654. If the last value breaks down, a strong growth will follow. Here, the target is 0.7706 and price consolidation is near this level. On the other hand, we consider the level of 0.7743 as a potential upward target. Upon reaching which, price consolidation and downward pullback are expected.
In turn, short-term decline is expected in the range of 0.7592 - 0.7570. If the last value breaks down, a deep correction will occur. The next target is 0.7533, which is the key support level at the top.
The main trend is the upward trend of December 21
Trading recommendations:
Buy: 0.7633 Take profit: 0.7653
Buy: 0.7656 Take profit: 0.7704
Sell: 0.7592 Take profit: 0.7570
Sell: 0.7568 Take profit: 0.7535
The key levels for the euro/yen pair are 127.80, 127.51, 127.30, 126.99, 126.69, 126.53 and 126.29. Here, we are following the formation of the upward trend from December 23. Against this background, the upward movement is expected to continue after the breakdown of 126.99. In this case, the target is 127.30. Meanwhile, short-term growth and consolidation are in the range of 127.30 - 127.51. If the last value breaks down, it will allow us to count on a movement towards a potential target – 127.80. Upon reaching which, price consolidation and downward pullback can be expected.
On the other hand, short-term decline is expected in the range of 126.69 - 126.53. If the last value breaks down, a deep correction will occur. Here, the target is 126.29, which is the upward key support level.
The main trend is the upward trend from December 23
Trading recommendations:
Buy: 127.00 Take profit: 127.30
Buy: 127.33 Take profit: 127.50
Sell: 126.69 Take profit: 126.54
Sell: 126.51 Take profit: 126.30
The key levels for the pound/yen pair are 143.04, 142.10, 141.41, 140.69, 139.63 and 138.88. The development of the upward trend from December 21 is being followed here. Thus, the upward movement is expected to continue after breaking through the level of 140.69. In this case, the first target is 141.41. On the other hand, short-term upward movement and consolidation are in the range of 141.41 - 142.10. As a potential upward target, we consider the level 143.04. Upon reaching which, price consolidation and downward pullback can be expected.
Short-term decline, in turn, is expected in the range of 139.63 - 138.88, wherein a key upward reversal is expected. If the last value breaks down, it will be conducive to the development of a downward trend. In this case, the targets will be determined from the initial conditions on December 24.
The main trend is the upward trend of December 21, correction stage
Trading recommendations:
Buy: 140.70 Take profit: 141.40
Buy: 141.43 Take profit: 142.10
Sell: 139.61 Take profit: 138.90
Sell: Take profit: