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

Dear colleagues.

For the EUR / USD pair, the price is in the correction zone from the downward cycle. We expect the continuation of the movement after the breakdown at the level of 1.2210. For the of GBP / USD pair, the price forms the potential for the top of April 5. For the USD / CHF pair, we have expanded the potential for upward movement towards the level of 0.9788. At the moment, the price is in correction. For the USD / JPY pair, the continuation of the upward movement is expected after the breakdown of 107.66. For the EUR / JPY pair, we follow the formation of the upward structure of March 22. The development of this level is expected after the breakdown of 131.75. For the GBP / JPY pair, the continuation of the upward movement is expected after the breakdown at 151.40.

The forecast for April 9:

Analytical review of currency pairs in the scale of H1:

For the EUR / USD pair, the key levels on the scale of H1 are: 1.2358, 1.2332, 1.2298, 1.2274, 1.2210, 1.2138 and 1.2086. Here, we continue to follow the downward cycle of March 27. The continuation of the movement downwards is expected after the breakdown of 1.2210. In this case, the target is 1.2138. Near this level is the consolidation of the price. We consider the level of 1.2086 to be the potential value for the downward movement. From this level, we expect a pullback upward.

Short-term upward movement is expected in the area of 1.2274 - 1.2298. The breakdown of the last value will lead to in-depth correction. Here, the target is 1.2332. The range of 1.2332 - 1.2358 is the key support for the downward structure. Before reaching it, we expect the initial conditions for the upward cycle.

The main trend is the downward structure of March 27.

Trading recommendations:

Buy: 1.2274 Take profit: 1.2296

Buy 1.2300 Take profit: 1.2330

Sell: 1.2210 Take profit: 1.2140

Sell: 1.2136 Take profit: 1.2090

For the GBP / USD pair, the key levels on the H1 scale are 1.4258, 1.4216, 1.4186, 1.4139, 1.4106, 1.4052, 1.4025, 1.3979 and 1.3932. Here, we follow the formation of the local upward structure of April 5. Short-term upward movement is expected in the area of 1.4106 - 1.4139. The breakdown of the last value should be accompanied by a pronounced upward movement. The target is the level of 1.4186. In the area of 1.4186 - 1.4216 is the consolidation of the price. The potential value for the top is the level of 1.4258. Upon reaching this level, we expect a pullback downwards.

Short-term downward movement is possible in the area of 1.4052 - 1.4025. The breakdown of the latter value will lead to the development of a downward structure. In this case, the first target is 1.3979. The potential value for the bottom is still the level of 1.3932.

The main trend is the downward structure of March 27, the formation of the upward structure of April 5.

Trading recommendations:

Buy: 1.4106 Take profit: 1.4136

Buy: 1.4142 Take profit: 1.4184

Sell: 1.4050 Take profit: 1.4027

Sell: 1.4023 Take profit: 1.3982

For the USD / CHF pair, the key levels on the scale of H1 are: 0.9737, 0.9696, 0.9641, 0.9610, 0.9584 and 0.9546. Here, we follow the upward cycle of March 26. At the moment, the price is in correction. The continuation of the upward movement is expected after the breakdown of 0.9641. In this case, the target is 0.9696. Near this level is the consolidation of the price. The potential value for the top is the level of 0.9737. Upon reaching this level, we expect the correction to go.

Consolidated traffic is possible in the area of 0.9610 - 0.9584. The breakdown of the last value will lead to in-depth correction. Here, the target is 0.9546. This level is the key support for the upward structure.

The main trend is the upward cycle from March 26, the correction stage.

Trading recommendations:

Buy: 0.9641 Take profit: 0.9694

Buy: 0.9698 Take profit: 0.9735

Sell: 0.9610 Take profit: 0.9588

Sell: 0.9582 Take profit: 0.9555

For the USD / JPY pair, the key levels on the scale are: 108.75, 108.28, 108.05, 107.66, 106.97, 106.68, 106.25 and 105.62. Here, we follow the upward cycle of March 23. The subsequent goals were determined from the local structure on April 2. The continuation of the upward movement is expected after the breakdown of 107.66. In this case, the target is 108.05. In the area of 108.05 - 108.28 is the consolidation of the price. The potential value for the top is the level 108.75. From this level, we expect a pullback downwards.

Short-term downward movement is possible in the area of 106.97 - 106.68. The breakdown of the last value will lead to in-depth correction. Here, the target is 106.24. This level is the key support for the top.

The main trend is the upward cycle of March 23, the local structure of April 2.

Trading recommendations:

Buy: 107.66 Take profit: 108.05

Buy: 108.30 Take profit: 108.75

Sell: 106.95 Take profit: 106.68

Sell: 106.66 Take profit: 106.27

For the CAD / USD pair, the key H1 scale levels are: 1.2876, 1.2817, 1.2786, 1.2737, 1.2705, 1.2646 and 1.2599. Here, we follow the local downward structure of April 2. Short-term downward movement is possible in the area of 1.2737 - 1.2705. The breakdown of the last value should be accompanied by a pronounced movement towards the level of 1.2646. Upon reaching this level, we expect the consolidation of the price. The potential value for the bottom is the level of 1.2599. After reaching this level, we expect a rollback towards correction.

Short-term upward movement is expected in the area of 1.2786 - 1.2817. The breakdown of the last value will lead to in-depth correction. Here, the target is 1.2876.

The main trend is the local structure for the bottom of April 2.

Trading recommendations:

Buy: 1.2786 Take profit: 1.2815

Buy: 1.2820 Take profit: 1.2872

Sell: 1.2735 Take profit: 1.2707

Sell: 1.2703 Take profit: 1.2650

For the AUD / USD pair, the key levels on the scale of H1 are: 0.7725, 0.7696, 0.7672, 0.7640, 0.7608, 0.7587, 0.7557 and 0.7540. Here, the situation is in an equilibrium state. The continuation of the downward movement is expected after the breakdown of 0.7640. In this case, the target is 0.7608. In the area of 0.7608 - 0.7587 is the consolidation of the price. The breakdown at the level of 0.7585 will allow us to count on the movement towards the potential target of 0.7557. In the area of 0.7557 - 0.7540 is the consolidation of the price.

Consolidated upward movement is possible in the area of 0.7672 - 0.7696. The breakdown of the last value will lead to in-depth correction. Here, the target is 0.7725. This level is the key support for the downward structure.

The main trend is the equilibrium situation.

Trading recommendations:

Buy: 0.7698 Take profit: 0.7725

Buy: 0.7727 Take profit: 0.7755

Sell: 0.7640 Take profit: 0.7608

Sell: 0.7606 Take profit: 0.7588

For the of EUR / JPY pair, the key levels on the scale of H1 are: 133.64, 132.61, 131.73, 130.92, 130.25, 129.57 and 128.87. Here, we continue to follow the formation of the upward structure of March 22. The continuation of the upward movement is expected after the breakdown of 131.73. In this case, the target is 132.61. Near this level is the consolidation of the price. Before reaching it, we expect the formulation of pronounced initial conditions for the upward cycle. The potential value for the upward structure so far is 133.64.

Short-term downward movement is possible in the area of 130.92 - 130.25. The breakdown of the last value will lead to in-depth correction. Here, the target is 129.57. This level is the key support for the upward structure from March 22.

The main trend is the upward structure of March 22.

Trading recommendations:

Buy: 131.75 Take profit: 132.60

Buy: 132.63 Take profit: 133.62

Sell: 130.90 Take profit: 130.30

Sell: 130.20 Take profit: 129.60

For the GBP / JPY pair, the key levels on the scale of H1 are: 153.01, 152.06, 151.40, 150.28, 149.76, 149.08 and 148.27. Here, we determine the subsequent goals from the local upward structure on April 2. The continuation of the upward movement is expected after the breakdown at 151.40. In this case, the target is 152.06. Near this level is the consolidation of the price. The potential value for the top is the level of 153.00. Upon reaching this level, we expect a pullback downwards.

Short-term downward movement is possible in the area of 150.28 - 149.76. The breakdown of the last value will lead to an in-depth movement. Here, the target is 149.08. This level is the key support for the top. Passing the price will lead to the development of a downward trend. In this case, the target is 148.27.

The main trend is the local structure for the top of April 2.

Trading recommendations:

Buy: 151.45 Take profit: 152.00

Buy: 152.08 Take profit: 153.00

Sell: 150.25 Take profit: 149.80

Sell: 149.72 Take profit: 149.10