FX.co ★ Fractal analysis of major currency pairs for March 8

Dear colleagues.

For the currency pair Euro / Dollar, the subsequent targets for the downward movement were considered from the larger structure of the initial conditions on February 28 (see the image). For the currency pair Pound / Dollar, we expect the continuation of the movement to the bottom after the breakdown of 1.3068 and the level of 1.3136 is the key support. For the currency pair Dollar / Franc, the potential for the rising structure of February 28 is at the level of 1.0180. For the currency pair Dollar / Yen, the price entered a steady state and the continuation of the upward movement is possible after a breakdown of 111.87. For the currency pair Euro / Yen, the subsequent development of the downward cycle of March 1 and we expect after the breakdown of 124.70. For the currency pair Pound / Yen, we expect a pronounced movement to the bottom after the breakdown of 145.55.

Forecast for March 8:

Analytical review of H1-scale currency pairs:

For the currency pair Euro / Dollar, the key levels on the H1 scale are 1.1270, 1.1227, 1.1203, 1.1159, 1.1136 and 1.1088. We continue to monitor the downward structure of February 28. We expect the short-term downward movement in the area of 1.1159 - 1.1136. The breakdown of the last value will allow to expect a movement towards a potential target of 1.1088, upon reaching this level, we expect a rollback to the top.

The short-term upward movement is possible in the area of 1.1203 - 1.1227 and the breakdown of the latter value will lead to a prolonged correction. The goal is 1.1270 and this level is the key support for the downward structure.

The main trend is the downward cycle of February 28.

Trading recommendations:

Buy 1.1203 Take profit: 1.1225

Buy 1.1227 Take profit: 1.1262

Sell: 1.1159 Take profit: 1.1137

Sell: 1.1134 Take profit: 1.1090

For the currency pair Pound / Dollar, the key levels on the H1 scale are 1.3202, 1.3136, 1.3103, 1.3068, 1.3029, 1.2967 and 1.2935. We continue to monitor the downward structure of February 27. We expect the short-term downward movement in the range of 1.3068 - 1.3029 and the breakdown of the latter value should be accompanied by a pronounced downward movement. The goal is 1.1267. We consider the level of 1.2935 as the potential value for the bottom, after reaching which, we expect consolidation, as well as rollback to the top.

We expect the short-term upward movement in the area of 1.3103 - 1.3136 and the breakdown of the last value will lead to an in-depth correction. The goal is 1.3202 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: 1.3103 Take profit: 1.3134

Buy: 1.3138 Take profit: 1.3200

Sell: 1.3066 Take profit: 1.3034

Sell: 1.3026 Take profit: 1.2970

For the currency pair Dollar / Franc, the key levels on the H1 scale are 1.0180, 1.0141, 1.0124, 1.0101, 1.0084, 1.0058 and 1.0027. We continue to monitor the ascending cycle of February 28. We expect the short-term upward movement in the area of 1.0124 - 1.0141. The breakdown of the last value will allow to expect a movement towards a potential target of 1.0180, upon reaching this level, we expect a rollback to the bottom.

The short-term downward movement is possible in the area of 1.0101 - 1.0084 and the breakdown of the last value will lead to a prolonged correction. The goal is 1.0058 and this level is the key support for the upward structure. Its price will have potential for the downward cycle. In this case, the goal is 1.0027.

The main trend is the upward cycle of February 28.

Trading recommendations:

Buy: 1.0124 Take profit: 1.0140

Buy: 1.0145 Take profit: 1.0180

Sell: 1.0101 Take profit: 1.0085

Sell: 1.0082 Take profit: 1.0060

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, 111.87, 111.53 and 111.33. The price has entered an equilibrium state. The continuation of the upward movement is possible after the breakdown of 111.87. In this case, the goal is 112.07. We expect the short-term upward movement 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 consolidation of the price. We consider the level of 112.81 as a potential value for the top, after reaching which, we expect to go into a correction.

We expect a short-term downward movement in the range of 111.53 - 111.33, as well as consolidation. The breakdown of the level of 111.33 will allow us to count on the formation of pronounced initial conditions for the downward cycle.

The main trend is the equilibrium situation.

Trading recommendations:

Buy: 111.88 Take profit: 112.05

Buy: 112.07 Take profit: 112.21

Sell: 111.50 Take profit: 111.36

Sell: Take profit:

For the currency pair Canadian Dollar / Dollar, the key levels on the H1 scale are 1.3595, 1.3555, 1.3485, 1.3458, 1.3414, 1.3386 and 1.3347. We continue to monitor the ascending structure of March 1. We expect the continuation of the movement to the top after the price passes the range of 1.3458 - 1.3485. In this case, the target is 1.3555. We consider the level of 1.3595 as a potential value for the top, after reaching which, we expect to go into a correction.

The short-term downward movement is possible in the area of 1.3414 - 1.3386 and the breakdown of the latter value will lead to an in-depth correction. The target is 1.3347.

The main trend is the ascending cycle of March 1.

Trading recommendations:

Buy: 1.3485 Take profit: 1.3555

Buy: 1.3557 Take profit: 1.3595

Sell: 1.3414 Take profit: 1.3386

Sell: 1.3384 Take profit: 1.3347

For the currency pair Australian Dollar / Dollar, the key levels on the H1 scale are 0.7088, 0.7072, 0.7051, 0.7026, 0.7010, 0.6978 and 0.6951. We continue to follow the development of the downward cycle of February 27. We expect the short-term downward movement in the area of 0.7026 - 0.7010. The breakdown of the latter value will lead to the movement to the level of 0.6978, near which, we expect consolidation. We consider the level of 0.6951 as a potential value for the downward structure, upon reaching this level, we expect a rollback to the top.

We expect the short-term downward movement after the breakdown of 0.7051. The goal is 0.7072 and the range of 0.7072 - 0.7088. We expect the initial conditions for the ascending cycle.

The main trend is the downward cycle of February 27.

Trading recommendations:

Buy: 0.7051 Take profit: 0.7070

Buy: 0.7072 Take profit: 0.7084

Sell: 0.7010 Take profit: 0.7980

Sell: 0.6976 Take profit: 0.6953

For the currency pair Euro / Yen, the key levels on the H1 scale are 126.03, 125.63, 125.35, 125.11, 124.70, 124.44, 124.25 and 123.87. We are following the downward structure of March 1. We expect the continuation of the movement to the bottom after the breakdown of the level of 124.70. In this case, the target is 124.44 and in the area of 124.44 - 124.25 is the consolidation of the price. We consider the level of 123.87 as a potential value for the bottom, after reaching which, we expect a rollback to the top.

The short-term upward movement is possible in the area of 125.11 - 125.35 and the breakdown of the last value will lead to a prolonged correction. The goal is 125.63 and this level is the key support for the downward structure from March 1. Its breakdown will have to form the initial conditions for the ascending cycle. In this case, target is 126.03.

The main trend is the downward structure of March 1.

Trading recommendations:

Buy: 125.11 Take profit: 125.35

Buy: 125.37 Take profit: 125.60

Sell: 124.70 Take profit: 124.45

Sell: 124.25 Take profit: 123.90

For the currency pair Pound / Yen, the key levels on the H1 scale are 147.22, 146.70, 146.31, 145.57, 144.71 and 144.00. We are following the development of the downward cycle of March 1. We expect the continuation of the movement to the bottom after the breakdown of 145.57. In this case, the goal is 144.71, and consolidation is near this level. We consider the level of 144.00 as a potential value for the bottom, after reaching which, we expect a rollback to the top.

The short-term upward movement is possible in the area of 146.31 - 146.70 and the breakdown of the latter value will lead to an in-depth correction. The target is 147.22 and this level is the key support for the downward structure.

The main trend is the downward cycle of March 1.

Trading recommendations:

Buy: 146.31 Take profit: 146.70

Buy: 146.74 Take profit: 147.20

Sell: 145.55 Take profit: 144.8

Sell: 144.65 Take profit: 144.00