FX.co ★ Fractal analysis of major currency pairs on March 6

Dear colleagues.

For the currency pair Euro / Dollar, the downward movement is possible after the breakdown of 1.1290 and the level of 1.1325 is the key support. For the currency pair Pound / Dollar, we are following the downward structure of February 27 and the development of which is expected after the passage of the range of 1.3132 - 1.3105. For the currency pair Dollar / Franc, we should continue the development of the upward cycle of February 28 after the breakdown of 1.0065. For the currency pair Dollar / Yen, the price is still in the correction zone from the upward structure on February 27. For the currency pair Euro / Yen, the price forms the potential for the downward movement of March 1 and we expect the continuation of the movement after the breakdown of 126.03. For the currency pair Pound / Yen, the price forms the potential for the downward movement from March 1 in the correction zone.

Forecast for March 6:

Analytical review of H1-scale currency pairs:

For the currency pair Euro / Dollar, the key levels on the H1 scale are 1.1345, 1.1325, 1.1312, 1.1293, 1.1274, 1.1260 and 1.1232. We are following the downward structure of February 28. We expect the downward movement to continue after the breakdown of the level of 1.1293. In this case, the target is 1.1274 and in the area of 1.1274 - 1.1260 is the price consolidation. The potential value for the bottom is considered the level of 1.1232 and the movement to which is expected after the breakdown of 1.1260.

The short-term upward movement is possible in the area of 1.1312 - 1.1325 and the breakdown of the latter value will lead to a prolonged correction. The target is 1.1345 and this level is the key support for the downward structure.

The main trend is the downward cycle of February 28.

Trading recommendations:

Buy 1.1312 Take profit: 1.1323

Buy 1.1327 Take profit: 1.1345

Sell: 1.1290 Take profit: 1.1274

Sell: 1.1260 Take profit: 1.1234

For the currency pair Pound / Dollar, the key levels on the H1 scale are 1.3284, 1.3235, 1.3202, 1.3132, 1.3105, 1.3041 and 1.2999. We are following the downward structure of February 27. A downward movement is expected after the price passes the range of 1.3132 - 1.3105. In this case, the target is 1.3041. The potential value for the bottom is considered the level of 1.2999, after reaching which we expect consolidation, as well as a rollback to the top.

The short-term upward movement is expected in the area of 1.3202 - 1.3235 and the breakdown of the last value will lead to a deep correction. The target is 1.3284 and this level is the key support for the downward structure of February 27.

The main trend is the downward structure of February 27.

Trading recommendations:

Buy: 1.3202 Take profit: 1.3233

Buy: 1.3236 Take profit: 1.3284

Sell: 1.3105 Take profit: 1.3045

Sell: 1.3040 Take profit: 1.3000

For the currency pair Dollar / Franc, the key levels on the H1 scale are 1.0141, 1.0107, 1.0092, 1.0065, 1.0036, 1.0022 and 0.9999. We are following the rising cycle of February 28th. We expect the continuation of the upward movement after the breakdown of 1.0065. In this case, the target is 1.0092 and in the area of 1.0092 - 1.0107 is the short-term upward movement, as well as consolidation. The potential value for the top is considered the level of 1.0141, upon reaching which we expect a rollback downwards.

The short-term downward movement is possible in the area of 1.0036 - 1.0022 and the breakdown of the latter value will lead to a prolonged correction. The target is 0.9999.

The main trend is the upward cycle of February 28.

Trading recommendations:

Buy: 1.0065 Take profit: 1.0090

Buy: 1.0092 Take profit: 1.0105

Sell: 1.0036 Take profit: 1.0023

Sell: 1.0020 Take profit: 1.0000

For the currency pair Dollar / Yen, the key levels on the scale of H1 are 112.81, 112.56, 112.44, 112.23, 112.07, 111.81, 111.61 and 111.33. We continue to monitor the ascending structure of February 27. The short-term upward movement is expected in the range of 112.07 - 112.23 and the breakdown of the last value should be accompanied by a pronounced upward movement. The goal is 112.44 and in the area of 112.44 - 112.56 is the consolidations of the price. The potential value for the top is considered the level of 112.81, after reaching which we expect a departure to a correction.

The short-term downward movement is possible in the area of 111.81 - 111.61 and the breakdown of the latter value will lead to a prolonged correction. The target is 111.33 and this level is the key support for the upward structure of February 27.

The main trend is the ascending cycle of February 27.

Trading recommendations:

Buy: 112.07 Take profit: 112.21

Buy: 112.25 Take profit: 112.44

Sell: 111.80 Take profit: 111.63

Sell: 111.58 Take profit: 111.35

For the currency pair Canadian Dollar / Dollar, the key levels on the H1 scale are 1.3485, 1.3440, 1.3414, 1.3347, 1.3317, 1.3291, 1.3262 and 1.3237. We are following the formation of the ascending structure from March 1. The short-term upward movement, as well as consolidation, is possible in the area of 1.3347 - 1.3373. The breakdown of the latter value should be accompanied by a pronounced upward movement. The goal is 1.3414 and in the area of 1.3414 - 1.3440 is the price consolidation. The potential value for the top is considered the level of 1.3485, after reaching which we expect a departure to the correction.

The short-term downward movement is possible in the area of 1.3317 - 1.3291 and the breakdown of the latter value will lead to an in-depth correction. The target is 1.3262 and the range of 1.3262 - 1.3237. We expect the design of the top of the initial conditions for the downward cycle.

The main trend is the formation of the initial conditions for the ascending cycle of March 1.

Trading recommendations:

Buy: 1.3347 Take profit: 1.3372

Buy: 1.3374 Take profit: 1.3314

Sell: 1.3317 Take profit: 1.3292

Sell: 1.3289 Take profit: 1.3262

For the currency pair Australian Dollar / Dollar, the key levels on the H1 scale are 0.7126, 0.7097, 0.7080, 0.7051, 0.7026, 0.7010 and 0.6978. We continue to follow the development of the downward cycle of February 27. An upward movement is expected after the breakdown of 0.7050. In this case, the goal is 0.7026 and in the area of 0.7026 - 0.7010 is the price consolidation. The potential value for the bottom is considered the level of 0.6978, upon reaching which we expect a rollback to the top.

The short-term upward movement is possible in the area of 0.7080 - 0.7097 and the breakdown of the latter value will lead to an in-depth correction. The target is 0.7126 and this level is the key support for the downward structure.

The main trend is the downward cycle of February 27.

Trading recommendations:

Buy: 0.7080 Take profit: 0.7095

Buy: 0.7100 Take profit: 0.7125

Sell: 0.7050 Take profit: 0.7026

Sell: 0.7010 Take profit: 0.6980

For the currency pair Euro / Yen, the key levels on the H1 scale are 126.99, 126.73, 126.54, 126.18, 126.03, 125.63, 125.36 and 124.95. We are following the downward structure of March 1. A downward movement is expected after the price passes the range of 126.18 - 126.03. In this case, the target is 125.63 and in the area of 125.63 - 125.36 is the short-term downward movement, as well as consolidation. The potential value for the bottom is considered to be the level of 124.95, to which we expect a movement after the breakdown of 125.36.

The short-term upward movement is expected in the area of 126.54 - 126.73 and the breakdown of the last value will lead to a prolonged correction. The goal is 126.99 and this level is the key support for the downward structure from March 1.

The main trend is the downward structure of March 1.

Trading recommendations:

Buy: 126.54 Take profit: 126.72

Buy: 126.75 Take profit: 126.99

Sell: 126.02 Take profit: 125.65

Sell: 125.61 Take profit: 125.38

For the currency pair Pound / Yen, the key levels on the H1 scale are 150.49, 149.47, 149.01, 148.21, 147.75, 147.22, 146.80 and 146.06. The price is in the correction and forms the potential for the downward cycle from March 1. The short-term upward movement is expected in the area of 147.75 - 148.21 and the breakdown of the latter value should be accompanied by a pronounced upward movement. The target is 149.01 and in the area of 149.01 - 149.47 is the short-term upward movement, as well as consolidation. The potential value for the top is considered the level of 150.49, upon reaching which we expect a rollback downwards.

The consolidated downward movement is possible in the area of 147.22 - 146.80 and the breakdown of the latter value will lead to an in-depth correction. The target is 146.06 and this level is the key support for the top.

The main trend is the local structure for the top of February 22.

Trading recommendations:

Buy: 147.77 Take profit: 148.20

Buy: 148.25 Take profit: 149.00

Sell: Take profit:

Sell: 146.78 Take profit: 146.10