FX.co ★ Fractal analysis of major currency pairs for February 18

Dear colleagues.

The currency pair Euro / Dollar price forms the initial conditions for the top of February 15 and we expect their development after the breakdown of 1.1333. For the Pound / Dollar currency pair, we follow the formation of the expressed initial conditions for the upward cycle of February 14 and the level of 1.2973 is the key resistance. The currency pair Dollar / Franc is following the formation of the downward structure of February 13 and the development of which is expected after the breakdown of 1.0022. For the currency pair Dollar / Yen, the price is in correction from the upward structure and the upward movement can continue after the breakdown of 110.84. For the currency pair of Euro / Yen, the price issued a local upward structure of February 15 and the level of 124.69 is the key support. For the currency pair Pound / Yen, the price forms the expressed initial conditions for the top of February 15 and the development of which is expected after the breakdown of 143.43.

Forecast for February 18:

Analytical review of H1-scale currency pairs:

For the Euro / Dollar currency pair, the key levels on the H1 scale are 1.1423, 1.1406, 1.1379, 1.1360, 1.1333, 1.1305, 1.1287, 1.1268 and 1.1232. We follow the formation of the initial conditions for the top of February 15. An upward movement is expected after the breakdown of 1.1333. In this case, the goal is 1.1360 and in the area of 1.1360 - 1.1379 is the price consolidation. The breakdown of the level of 1.1379 should be accompanied by a pronounced move towards the potential target of 1.1406, an in the area of 1.1406 - 1.1423 is the price consolidation, and also from here, we expect a withdrawal into a correction.

The short-term downward movement is possible in the area of 1.1305 - 1.1287 and the breakdown of the latter value will lead to an in-depth correction. The goal is 1.1268 and this level is the key support for the upward structure. Its breakdown will have a downward trend. In this case, the goal is 1.1232.

The main trend is the formation of initial conditions for the top of February 15.

Trading recommendations:

Buy 1.1333 Take profit: 1.1360

Buy 1.1362 Take profit: 1.1377

Sell: 1.1305 Take profit: 1.1288

Sell: 1.1286 Take profit: 1.1268

For the currency pair Pound / Dollar, the key levels on the H1 scale are 1.3119, 1.3064, 1.3026, 1.2973, 1.2954, 1.2904, 1.2877 and 1.2839. The price forms the potential initial conditions for the top of February 14 and the development of which is expected after the price passes the range of 1.2954 - 1.2973. In this case, the goal is 1.3026 and in the area of 1.3026 - 1.3064 is the short-term upward movement, as well as consolidation. The potential value for the top is considered the level of 1.3119, after reaching which we expect a departure to a correction.

The short-term downward movement is expected in the area of 1.2904 - 1.2877 and the breakdown of the latter value will lead to a prolonged correction. The target is 1.2839.

The main trend is the formation of initial conditions for the top of February 14

Trading recommendations:

Buy: 1.2973 Take profit: 1.3026

Buy: 1.3028 Take profit: 1.3062

Sell: 1.2904 Take profit: 1.2880

Sell: 1.2875 Take profit: 1.2840

For the currency pair Dollar / Franc, the key levels on the H1 scale are 1.0075, 1.0055, 1.0042, 1.0022, 1.0001, 0.9987, 0.9967 and 0.9956. The price forms the downward structure of February 13. The continuation of the downward movement is expected after the breakdown of 1.0022. In this case, the goal is 1.0001 and in the area of 1.0001 - 0.9987 is the price consolidation. The breakdown of the level of 0.9987 should be accompanied by a pronounced move to the level of 0.9967. The potential value for the bottom is considered to be the level of 0.9956, near which we expect consolidation.

The short-term upward movement is expected in the area of 1.0042 - 1.0055 and the breakdown of the last value will lead to a prolonged correction. The target is 1.0075 and this level is the key support.

The main trend is the formation of a downward structure of February 13.

Trading recommendations:

Buy: 1.0042 Take profit: 1.0055

Buy: 1.0057 Take profit: 1.0075

Sell: 1.0020 Take profit: 1.0001

Sell: 1.0000 Take profit: 0.9988

For the currency pair Dollar / Yen, the key levels on the scale of H1 are 111.74, 111.32, 111.08, 110.84, 110.42, 110.25 and 109.97. The price is in deep correction from the rising structure on January 31. An upward movement is expected after the breakdown of 110.84. In this case, the first target is 111.08. 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.

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, a deep correction.

Trading recommendations:

Buy: 110.84 Take profit: 111.08

Buy: 111.10 Take profit: 111.30

Sell: Take profit:

Sell: 110.25 Take profit: 110.00

For the currency pair Canadian dollar / Dollar, the key levels on the H1 scale are 1.3341, 1.3297, 1.3272, 1.3251, 1.3217, 1.3193, 1.3178, 1.3134 and 1.3104. The price is close to the cancellation of the ascending structure of February 13, for which a breakdown of level 1.3217 is necessary. In this case, the first target is 1.3193 and the price passage of the range of 1.3193 - 1.3178 must be accompanied by a pronounced downward movement. The target is 1.3134. The potential value for the bottom is considered the level of 1.3104, upon reaching which we expect a rollback to the top.

The short-term upward movement is possible in the area of 1.3251 - 1.3272 and the breakdown of the latter value will lead to the movement to the level of 1.3297. This level is a key resistance for the subsequent development of the upward trend on the H1 scale.

The main trend is the upward structure of February 13, the stage of deep correction.

Trading recommendations:

Buy: 1.3251 Take profit: 1.3270

Buy: 1.3274 Take profit: 1.3295

Sell: 1.3215 Take profit: 1.3195

Sell: 1.3176 Take profit: 1.3136

For the currency pair Australian dollar / dollar, the key levels on the H1 scale are 0.7249, 0.7219, 0.7197, 0.7168, 0.7132, 0.7113 and 0.7093. We are following the development of the ascending cycle of February 11. An upward movement is expected after the breakdown of 0.7168. In this case, the target is 0.7197 and in the area of 0.7197 - 0.7291 is the short-term upward movement, as well as consolidation. The potential value for the top is considered the level of 0.7249, upon reaching which we expect a rollback downwards.

The short-term downward movement is possible in the area of 0.7132 - 0.7113 and the breakdown of the latter value will lead to an in-depth correction. The target is 0.7093 and this level is the key support for the upward structure.

The main trend is the upward cycle of February 11.

Trading recommendations:

Buy: 0.7168 Take profit: 0.7197

Buy: 0.7199 Take profit: 0.7219

Sell: 0.7132 Take profit: 0.7115

Sell: 0.7111 Take profit: 0.7095

For the currency pair Euro / Yen, the key levels on the H1 scale are 126.08, 125.85, 125.50, 125.35, 125.04, 124.88 and 124.69. The price has issued local initial conditions for the top of February 15. The short-term upward movement is expected in the area of 125.35 - 125.50 and the breakdown of the last value should be accompanied by a pronounced upward movement. The goal is 125.85. The potential value for the top is considered the level of 126.08, after reaching which we expect a rollback to the correction.

The short-term downward movement is possible in the area of 125.04 - 124.88 and the breakdown of the latter value will lead to an in-depth correction. The goal is 124.69 and this level is the key support for the top.

The main trend is the formation of the ascending structure of February 15.

Trading recommendations:

Buy: 125.35 Take profit: 125.50

Buy: 125.52 Take profit: 125.85

Sell: 125.04 Take profit: 124.88

Sell: 124.86 Take profit: 124.70

For the currency pair Pound / Yen, the key levels on the H1 scale are 144.58, 144.13, 143.43, 143.17, 142.61, 142.33 and 141.91. We are following the formation of the ascending structure of February 15. We expect a short-term upward movement in the area of 143.17 - 143.43 and the breakdown of the last value should be accompanied by a pronounced upward movement. The target is 144.13. The potential value for the top is considered the level of 144.58, upon reaching which we expect a rollback to the correction.

The short-term downward movement is possible in the area of 142.61 - 142.33 and the breakdown of the latter value will lead to an in-depth correction. The goal is 141.91 and this level is the key support for the top.

The main trend is the formation of the ascending structure of February 15.

Trading recommendations:

Buy: 143.45 Take profit: 144.10

Buy: 144.15 Take profit: 144.55

Sell: 142.61 Take profit: 142.35

Sell: 142.30 Take profit: 141.94