FX.co ★ Fractal analysis for major currency pairs as of March 9

For the EUR/USD pair, the price forms a downward structure from March 7. For GBP/USD pair, we expect a movement to 1.3731 level. On the USD/CHF pair, we continue to follow the upward cycle of March 2. On the USD/JPY pair, we follow the upward structure of March 2. For the EUR/JPY pair, we are following the formation of the upward structure of March 5, the development of which is expected after the breakdown of 132.41. For the GBP/JPY pair, the continuation of the upward movement is expected after the breakdown of 147.76.

The forecast for March 9:

Analytical review of currency pairs in the scale of H1:

For the EUR/USD pair, the key levels on the H1 scale are 1.2386, 1.2354, 1.2331, 1.2284, 1.2234, 1.2200 and 1.2180. Here, the price forms the potential for a downward movement from March 7. The continuation of the movement downwards is expected after the breakdown of 1.2284, in this case, the target level is 1.2234, which is near the expected consolidation. The potential value for the bottom is the level of 1.2180, after which, we expect a consolidated movement in the range of 1.2200 - 1.2180.

A short-term upward movement is expected in the range of 1.2331 – 1.2354 and a breakdown of the last value will lead to in-depth correction. Here, the target level is 1.2386, which is the key support for the downward structure. Passage at this level will allow the price to count on the movement to the first potential target level of 1.2449.

The main trend is the upward cycle from March 1, the formation for the downward movement of March 7.

Trading recommendations:

Buy: 1.2331 Take profit: 1.2352

Buy 1.2356 Take profit: 1.2384

Sell: 1.2282 Take profit: 1.2236

Sell: 1.2232 Take profit: 1.2205

For the GBP/USD pair, the key levels on the H1 scale are 1.4070, 1.4003, 1.3941, 1.3894, 1.3731, 1.3697, 1.3634 and 1.3583. Here, we continue to follow the downward structure from February 26. At the moment, the price is in a correction in the range of 1.3894 – 1.3941. We expect a consolidated movement and breakdown at the level of 1.3941, which will lead to the development of an upward trend to the level of 1.4003. The potential value for the top is still the level of 1.4070.

The continuation of downward movement is possible after the breakdown of 1.3792. In this case, the first target level is 1.3731 in the consolidation range of 1.3731 - 1.3697.

The main trend is the downward structure from February 26, which is the stage of deep correction.

Trading recommendations:

Buy: 1.3944 Take profit: 1.4000

Buy: 1.4005 Take profit: 1.4070

Sell: 1.3790 Take profit: 1.3740

Sell: 1.3695 Take profit: 1.3650

For the USD/CHF pair, the key levels on the H1 scale are 0.9590, 0.9552, 0.9532, 0.9502, 0.9480 and 0.9448. Here, we follow the development of the upward cycle of March 2. A short-term upward movement is expected in the range of 0.9532 - 0.9552 and a breakdown of the last value will allow us to count on the movement towards the potential target level of 0.9590, where a downward pullback is expected from this level.

A short-term downward movement is possible in the range of 0.9502 – 0.9480 and a breakdown of the last value will lead to in-depth correction. Here, the target level is 0.9448, which is the key support for the top.

The main trend is the upward cycle of March 2.

Trading recommendations:

Buy: 0.9532 Take profit: 0.9550

Buy: 0.9554 Take profit: 0.9590

Sell: 0.9500 Take profit: 0.9485

Sell: 0.9478 Take profit: 0.9455

For the USD/JPY pair, the key levels on a scale are 108.14, 107.68, 107.37, 106.91, 106.42, 106.00, 105.70 and 105.23. here, we follow the upward structure of March 2. A continued upward movement is expected after the breakdown at the level of 106.91. In this case, the target level is 107.37 in the consolidation range of 107.37 – 107.68. The potential value for the top is the level of 108.14, where a downward pullback is expected from this level.

We expect a the correction to go down after the breakdown of 106.42. In this case, the target level is 106.00 in the range of 106.00 – 105.70, which is the key support for the upward structure. Passage at this level will allow the price develop a downward movement. In this case, the first target level is 105.23.

The main trend: the upward structure of March 2.

Trading recommendations:

Buy: 106.92 Take profit: 107.35

Buy: 107.70 Take profit: 108.12

Sell: 106.40 Take profit: 106.05

Sell: 105.70 Take profit: 105.25

For the USD/CAD pair, the key levels on the H1 scale are 1.3278, 1.3204, 1.3087, 1.3001, 1.2940, 1.2884 and 1.2786. Here, we continue to follow the upward structure of February 16. A continued upward movement is expected after the breakdown of 1.3001. In this case, the target level is 1.3087, which is near the expected consolidation. The potential value for the top is the level of 1.3204, it is expected to consolidate in the range of 1.3204 – 1.3278, where a downward pullback is expected upon reaching this level.

A consolidated traffic is possible in the range of 1.2940 - 1.2884 and a breakdown of the last value will lead to in-depth correction. Here, the target level is 1.2786, which is the key support for the top.

The main trend is the upward structure of February 1, which is the correction stage.

Trading recommendations:

Buy: 1.3001 Take profit: 1.3085

Buy: 1.3090 Take profit: 1.3202

Sell: 1.2882 Take profit: 1.2790

Sell: Take profit:

For the AUD/USD pair, the key levels on the H1 scale are : 0.7893, 0.7846, 0.7747, 0.7699, 0.7668, 0.7630 and 0.7605. here, the situation is in an equilibrium state. Continued downward movement is expected after the level of 0.7745, in this case, the first target level is 0.7700. The breakdown at the level of 0.7699 will allow us to count on the move to 0.7668, which is near the expected consolidation. Passage at the price of 0.7666 should be accompanied by a pronounced downward movement. Here, the target level is 0.7630. The potential value for the bottom is the level of 0.7605, where a rollback to the top is expected upon reaching this level.

The main trend is the equilibrium situation.

Trading recommendations:

Buy: 0.7846 Take profit: 0.7890

Buy: Take profit:

Sell: 0.7745 Take profit: 0.7700

Sell: 0.7696 Take profit: 0.7670

For the EUR/JPY pair, the key levels on the H1 scale are 133.81, 133.25, 132.41, 131.68, 130.97, 130.48, 129.90 and 129.23. here, we follow the formation of the upward structure of March 5. A continued upward movement is expected after the breakdown of 131.68. In this case, the target level is 132.41, which is near the expected consolidation. A breakdown at the level of 131.41 should be accompanied by a pronounced upward movement. Here, the target level is 133.25. The potential value for the top is the level of 133.81, where a downward pullback is expected from this level.

A short-term downward movement is possible in the range of 130.97 - 130.48, and a breakdown of the last value will lead to in-depth correction. Here, the target level is 129.90, which is the key support for the top of March 5.

The main trend is the formation of the ascending structure on March 5.

Trading recommendations:

Buy: 131.70 Take profit: 132.40

Buy: 132.50 Take profit: 133.25

Sell: 130.95 Take profit: 130.50

Sell: 130.44 Take profit: 129.95

For the GBP/JPY pair, the key levels on the H1 scale are 149.08, 147.76, 146.99, 145.71, 144.78, 143.90 and 142.28. Here, the price is in correction from the descending structure on February 21 and forms the potential to reach the high of March 2. Development of the downward structure is expected after the breakdown of 145.71. Here, the first target level is 144.78. A short-term downward movement is possible in the range of 144.78 - 143.90 and a breakdown of the last value will allow us to count on the movement to the potential target level of 142.28, where an upward pullback is expected from this level.

A consolidated movement is possible in the range of 146.99 - 147.76 and a breakdown of the last value will have to develop the upward movement. In this case, the target level is 149.08, where we expect a formalized initial conditions for the upward cycle.

The main trend is the downward structure from February 2, which is the correction stage.

Trading recommendations:

Buy: 147.90 Take profit: 149.00

Buy: 149.10 Take profit: 150.90

Sell: 145.70 Take profit: 144.80

Sell: 143.85 Take profit: 142.35