FX.co ★ Fractal analysis of major currency pairs for February 14

Dear colleagues.

For the currency pair Euro / Dollar, the price forms a local potential for the continuation of the downward trend of February 13 and we expect the development of this structure after the breakdown of 1.1242. For the currency pair Pound / Dollar, we should continue the downward movement after the breakdown of 1.2828. For the currency pair Dollar / Franc, we expect the upward movement to continue after the price passes the range of 1.0086 - 1.0096. For the currency pair Dollar / Yen, we expect to continue moving up after the breakdown of 111.08 and the level of 110.66 is the key support. For the currency pair Euro / Yen, the upward structure of February 8 is expected to develop after the breakdown of 125.35 and the level of 124.79 is the key support. For the currency pair Pound / Yen, the situation is in equilibrium.

Forecast for February 14:

Analytical review of H1-scale currency pairs:

For the currency pair Euro / Dollar, the key levels on the H1 scale are 1.1342, 1.1318, 1.1297, 1.1281, 1.1242, 1.1213 and 1.1178. The price forms a local structure to continue moving down from February 13. A downward movement is expected after breakdown 1.1242. In this case, the target is 1.1224 and the passage at the cost of the range of 1.1224 - 1.1213 should be accompanied by a pronounced downward movement. The potential target is 1.1178.

The short-term upward movement is possible in the area of 1.1281 - 1.1297 and the breakdown of the latter value will lead to an in-depth correction. The target is 1.1318 and this level is the key support for the downward structure. Its breakdown will have to form an upward structure. In this case, the target is 1.1342.

The main trend is the formation of a local structure for the bottom of February 13.

Trading recommendations:

Buy 1.1281 Take profit: 1.1295

Buy 1.1298 Take profit: 1.1317

Sell: 1.1242 Take profit: 1.1224

Sell: 1.1213 Take profit: 1.1178

For the currency pair Pound / Dollar, the key levels on the H1 scale are 1.2991, 1.2929, 1.2885, 1.2828, 1.2789, 1.2722 and 1.2666. We continue to monitor the downward trend of January 28. The short-term downward movement is expected in the area of 1.2828 - 1.2789 and the breakdown of the latter value will lead to the movement to the target of 1.2722, near this level is the price consolidation. The potential value for the bottom is considered the level of 1.2666, upon reaching which we expect a rollback to the top.

The corrective movement is possible in the range of 1.2885 - 1.2929 and the breakdown of the last value will lead to a prolonged correction. The target is 1.2991.

The main trend is the downward cycle of January 28, the local structure of February 7.

Trading recommendations:

Buy: 1.2885 Take profit: 1.2927

Buy: 1.2932 Take profit: 1.2990

Sell: 1.2826 Take profit: 1.2792

Sell: 1.2787 Take profit: 1.2724

For the currency pair Dollar / Franc, the key levels on the H1 scale are 1.0147, 1.0134, 1.0111, 1.0096, 1.0086, 1.0055, 1.0042 and 1.0025. The continuation of the development of the ascending structure from February 11 is expected after the price passes the range of 1.0086 - 1.0096. In this case, the target is 1.0111, and consolidation is near this level. The breakdown of 1.0111 should be accompanied by a pronounced upward movement. The goal is 1.0134. The potential value for the top is considered the level of 1.0147, upon reaching which we expect consolidation, as well as a rollback to the top.

The short-term downward movement is expected in the area of 1.0055 - 1.0042 and the breakdown of the latter value will lead to a prolonged correction. The target is 1.0025 and this level is the key support.

The main trend is the local rising structure of February 11.

Trading recommendations:

Buy: 1.0096 Take profit: 1.0110

Buy: 1.0112 Take profit: 1.0132

Sell: 1.0055 Take profit: 1.0044

Sell: 1.0040 Take profit: 1.0025

For the Dollar / Yen currency pair, the key levels on the scale of H1 are 111.74, 111.32, 111.08, 110.66, 110.42, 110.25 and 109.97. We continue to monitor the ascending structure of January 31. The short-term upward movement is possible in the area of 111.08 - 111.32 and the breakdown of the latter value will lead to a movement to the potential target of 111.74, upon reaching which we expect a rollback downwards.

Exit to correction is expected after the breakdown of 110.66. The target is 110.42 and the range of 110.42 - 110.25 is the key support for the top. Its price passage will have to form a downward structure. In this case, the potential target is 109.97.

The main trend is the rising structure of January 31.

Trading recommendations:

Buy: 111.10 Take profit: 111.30

Buy: 111.34 Take profit: 111.70

Sell: 110.65 Take profit: 110.44

Sell: 110.25 Take profit: 110.00

For the currency pair Canadian dollar / Dollar, the key levels on the H1 scale are 1.3348, 1.3327, 1.3293, 1.3272, 1.3206, 1.3169, 1.3147, 1.3114 and 1.3068. We expect the development of the downward cycle from February 8, for which a breakdown of the level of 1.3205 is necessary. In this case, the goal is 1.3169 and in the area of 1.3169 - 1.3147 is the price consolidation. The breakdown of the level of 1.3114 will lead to the movement to the level of 1.3114, from this level, there is a high probability of a turn into a correction. The potential value for the bottom is considered the level of 1.3068, upon reaching which we expect a rollback.

The short-term upward movement is expected in the area of 1.3272 - 1.3293 and the breakdown of the latter value will have to form a local ascending structure. The target is 1.3327 and the range of 1.3327 - 1.3348.

The main trend is the upward structure of January 31, the formation of the structure for the downward cycle of February 8.

Trading recommendations:

Buy: 1.3272 Take profit: 1.3292

Buy: 1.3295 Take profit: 1.3327

Sell: 1.3206 Take profit: 1.3170

Sell: 1.3146 Take profit: 1.3114

For the currency pair Australian dollar / dollar, the key levels on the H1 scale are 0.7168, 0.7132, 0.7113, 0.7049, 0.7025, 0.6995 and 0.6977. The price forms the expressed initial conditions for the top of February 11 in a correction from the downward structure. The short-term downward movement is expected in the area of 0.7049 - 0.7025 and the breakdown of the latter value should be accompanied by a pronounced downward movement. The target is 0.6995 and the potential value for the bottom is 0.6977, upon reaching which we expect a consolidated movement in the area of 0.6977 - 0.6995, as well as a rollback to the top.

The short-term upward movement is possible in the area of 0.7113 - 0.7132 and the breakdown of the latter value will lead to a deep correction. The target is 0.7168 and this level is the key support for the downward structure.

The main trend is the downward cycle of January 31, the formation of potential for the top of February 11.

Trading recommendations:

Buy: 0.7113 Take profit: 0.7130

Buy: 0.7134 Take profit: 0.7166

Sell: 0.7047 Take profit: 0.7027

Sell: 0.7025 Take profit: 0.6995

For the currency pair Euro / Yen, the key levels on the H1 scale are 126.36, 126.08, 125.66, 125.35, 124.99, 124.79 and 124.46. We are following the formation of the ascending structure of February 8. An upward movement is expected after the breakdown of 125.35. In this case, the goal is 125.66 and consolidation is near this level. The breakdown of the level of 125.68 must be accompanied by a pronounced upward movement. The target is 126.08. The potential value for the top is considered the level of 126.36, after reaching which we expect consolidation, as well as a rollback to the top.

The short-term downward movement is possible in the area of 124.99 - 124.79 and the breakdown of the latter value will lead to a prolonged correction. The goal is 124.46 and this level is the key support for the top.

The main trend is the formation of the ascending structure of February 8.

Trading recommendations:

Buy: 125.35 Take profit: 125.65

Buy: 125.70 Take profit: 126.05

Sell: 124.97 Take profit: 124.80

Sell: 124.75 Take profit: 124.50

For the currency pair Pound / Yen, the key levels on the H1 scale are 143.35, 142.86, 142.53, 141.84, 141.18, 140.38 and 139.80. The situation entered into an equilibrium state. We expect short-term downward movement in the range of 141.84 - 141.18 and the breakdown of the latter value should be accompanied by a pronounced downward movement. The target is 140.38. The potential value for the bottom is considered the level of 139.80, after reaching which we expect consolidation, as well as a rollback to the top.

The consolidated movement is possible in the area of 142.53 - 142.86 and the breakdown of the latter value will lead to a deep correction. The target is 143.35 and this level is the key support for the bottom.

The main trend is the equilibrium state.

Trading recommendations:

Buy: 142.53 Take profit: 142.84

Buy: 142.88 Take profit: 143.35

Sell: 141.80 Take profit: 141.20

Sell: 141.15 Take profit: 140.45