Outlook on March 30:
Analysis of popular currency pairs on the hourly (H1) chart:
The key levels for the EUR/USD pair are 1.1850, 1.1809,1.1783, 1.1726, 1.1709, 1.1680, 1.1662 and 1.1625. The price has been moving in a downward trend since March 18. We expect a short-term decline in the range of 1.1726 - 1.1709. If the latter is broken, strong decline will continue towards the target of 1.1680. Another short-term decline with consolidation is observed in the 1.1680 - 1.1662 range. The final potential downward target is set at 1.1625. After reaching this level, the price may pullback upwards.
A short-term growth, in turn, is possible in the range of 1.1783 - 1.1809. If the level of 1.1809 breaks down, it will lead to the development of a deep correction. The potential target is set at 1.1850.
The main trend is the downward trend from March 18.
Trading recommendations:
Buy: 1.1783 Take profit: 1.1808
Buy: 1.1811 Take profit: 1.1850
Sell: 1.1709 Take profit: 1.1680
Sell: 1.1661 Take profit: 1.1627
The key levels for the GBP/USD pair are 1.3920, 1.3882, 1.3836, 1.3807, 1.3745, 1.3714, 1.3670, 1.3647, 1.3592 and 1.3553. The price has been following the formation of the bullish trend from March 25. Now, we expect a short-term growth in the 1.3807 - 1.3836 range. If the level of 1.3836 breaks down, strong growth will continue towards the target of 1.3882. The final potential upward target is set at 1.3920. After reaching it, the price may consolidate and pullback downwards.
A short-term decline is possible in the range of 1.3745 - 1.3714. If the latter breaks down, the downward trend will develop. The target is set at 1.3670. If the price breaks through the noise range of 1.3670 - 1.3647, strong decline will resume towards the next level of 1.3592. The final potential downward target is 1.3553. Once this level is reached, an upward pullback can be expected.
The main trend is the downward trend from March 18, formation of an upward potential from March 25.
Trading recommendations:
Buy: 1.3807 Take profit: 1.3835
Buy: 1.3837 Take profit: 1.3880
Sell: 1.3745 Take profit: 1.3715
Sell: 1.3712 Take profit: 1.3670
The key levels for the USD/CHF pair are 0.9495, 0.9454, 0.9406, 0.9363, 0.9338 and 0.9307. The price has been moving in an upward trend since March 17. We expect this upward move to continue after the level of 0.9406 is broken. The target is set at 0.9454. The price may consolidate around this level. The final potential upward target is 0.9495. After reaching it, a downward pullback is possible.
On the other hand, short-term growth is possible in the range of 0.9363 - 0.9338. If the latter is broken, this will lead to a deep correction. The target is seen at 0.9307, which is also the key support level.
The main trend is the upward trend from March 17.
Trading recommendations:
Buy: 0.9407 Take profit: 0.9454
Buy: 0.9456 Take profit: 0.9495
Sell: 0.9363 Take profit: 0.9338
Sell: 0.9337 Take profit: 0.9308
The key levels for the USD/JPY are 111.43, 111.22, 110.98, 110.43, 109.75, 109.53 and 109.16. The price has been following the formation of the medium-term upward trend from March 23. We expect growth to resume after the level of 110.43 is broken. Here, the target is set at 110.98. The price may consolidate around it. If the level of 111.00 breaks down, it will allow us to further rise to the level of 111.22. The ultimate potential upward target is 111.43, After reaching it, a price consolidation and downward pullback can be expected.
Meanwhile, short-term decline is expected in the 109.75 - 109.53 range. If the latter breaks down, a deep correction will occur. The target is set at 109.16, which is also the key support level.
The main trend is the mid-term upward trend from March 23.
Trading recommendations:
Buy: 110.45 Take profit: 110.96
Buy: 111.00 Take profit: 111.22
Sell: 109.75 Take profit: 109.54
Sell: 109.51 Take profit: 109.18
The key levels for the USD/CAD pair are 1.2788, 1.2753, 1.2700, 1.2650, 1.2626, 1.2561, 1.2529 and 1.2489. The price has been moving in an upward trend since March 18. We expect this trend to resume if the price breaks through the range of 1.2626 - 1.2650. The target is set at 1.2700. The price is consolidating near it. If the specified target is broken, strong growth will continue towards the next target of 1.2753. The final potential upward target is 1.2788. After reaching this level, a downward pullback is possible.
Alternatively, a short-term decline is possible in the range of 1.2561 - 1.2529. If the level of 1.2529 breaks down, a deep correction will occur. The target is set at 1.2489, which is also the key support level.
The main trend is the upward trend from March 18.
Trading recommendations:
Buy: 1.2650 Take profit: 1.2700
Buy: 1.2703 Take profit: 1.2752
Sell: 1.2560 Take profit: 1.2531
Sell: 1.2527 Take profit: 1.2490
The key levels for the AUD/USD pair are 0.7742, 0.7686, 0.7646, 0.7588, 0.7554, 0.7467, 0.7442 and 0.7378. The price has been moving in a bearish trend since March 18. We expect this trend to extend once the price breaks through the 0.7588 - 0.7554 range. The target is set at 0.7467. The price may consolidate in the range of 0.7467 - 0.7442. The ultimate potential downward target is the 0.7378 level. We expect the price to move here after the level of 0.7441 is broken.
On the other hand, a short-term growth is likely in the range of 0.7646 - 0.7686. If the level of 0.7686 is broken, a deep correction will occur. The target is set at 0.7742, which is also the key support level.
The main trend is the downward trend from March 18.
Trading recommendations:
Buy: 0.7646 Take profit: 0.7685
Buy: 0.7887 Take profit: 0.7741
Sell: 0.7554 Take profit: 0.7468
Sell: 0.7441 Take profit: 0.7378
The key levels for the EUR/JPY pair are 130.22, 129.79, 129.54, 128.81, 128.36, 128.01, 127.79, 127.31 and 127.09. The price has been moving in a downward trend since March 18. However, it is currently in correction and is forming an upward potential from March 25. We expect the downward trend to resume after the level of 128.81 is broken. The first target is set at 128.36. After its breakdown, we can continue to the level of 128.01. There is a price consolidation in the 128.01 - 127.79 range. If the level of 127.77 is broken, strong decline will continue to the target of 127.31. The final potential downward target is set at 127.09. After reaching it, an upward pullback is possible.
A short-term growth can be expected in the 129.54 - 129.79 range. If the latter is broken, the upward trend from March 25 will develop. Here, the first target is set at 130.22.
The main trend is the downward trend from March 18, deep correction stage.
Trading recommendations:
Buy: 129.55 Take profit: 129.77
Buy: 129.81 Take profit: 130.20
Sell: 128.80 Take profit: 128.40
Sell: 128.33 Take profit: 128.01
The key levels for the GBP/JPY pair are 154.27,153.38, 152.61, 152.21, 151.53, 150.37, 149.65, 149.24 and 148.45. The price has been moving in a bullish trend since March 24. We expect this trend to continue after the level of 151.53 is broken. The target is set at 152.21. The price may consolidate near it. If it breaks through the range of 152.21 - 152.61, the upward movement will resume to 153.38 level. Another price consolidation is possible around this level. The final potential upward target is set at 154.27, wherein a downward pullback can be expected.
A correction, in turn, is possible after the level of 150.37 breaks down. The target is set at 149.65. The key upward support is in the 149.65 - 149.24 range. If the price manages to break through it, the downward trend will develop. The target will be at 148.45.
The main trend is the formation of an upward trend from March 24.
Trading recommendations:
Buy: 151.55 Take profit: 151.21
Buy: 152.61 Take profit: 152.65
Sell: 150.35 Take profit: 149.70
Sell: 149.24 Take profit: 148.45