FX.co ★ Fractal analysis for major currency pairs for October 20

Outlook on October 20:

Analytical overview of major pairs on the H1 TF:

The key levels for the euro/dollar pair are 1.1869, 1.1843, 1.1829, 1.1806, 1.1791, 1.1744, 1.1726, 1.1697 and 1.1656. The price forms a strong potential for the top of October 15. Now, we expect growth to continue after the price passes the noise range 1.1791 - 1.1806. In this case, the target is 1.1829. On the other hand, price consolidation is in the range of 1.1829 - 1.1843. For the potential value for the top, we consider the level 1.1869; upon reaching which, a downward pullback is expected.

A short-term decline is possible in the range of 1.1744 - 1.1726, from where a key upward reversal is expected. If the last value breaks down, it will favor the development of a downward trend. In this case, the first potential target is 1.1697.

The main trend is the formation of potential for the top from October 15

Trading recommendations:

Buy: 1.1806 Take profit: 1.1806

Buy: 1.1844 Take profit: 1.1869

Sell: 1.1744 Take profit: 1.1727

Sell: 1.1724 Take profit: 1.1698

The key levels for the pound/dollar pair are 1.3021, 1.2959, 1.2858, 1.2800, 1.2758 and 1.2700. Here, we are following the formation of the downward trend structure from October 12. The decline is expected to continue after breaking through the level of 1.2858. In this case, the target is 1.2800. On the other hand, there is a short-term decline as well as consolidation in the range of 1.2800 - 1.2758. For the potential value for the bottom, we have the level of 1.2700. Upon reaching which, we expect an upward pullback.

A short-term growth is possible in the range of 1.2959 - 1.3021. In case of breakdown of the last value, it will encourage the formation of initial conditions for an upward cycle. In this case, the potential target is 1.3082.

The main trend is the formation of a descending structure from October 12

Trading recommendations:

Buy: 1.2961 Take profit: 1.3020

Buy: 1.3023 Take profit: 1.3080

Sell: 1.2856 Take profit: 1.2800

Sell: 1.2798 Take profit: 1.2760

The key levels for the dollar/franc pair are 0.9165, 0.9136, 0.9119, 0.9084, 0.9062, 0.9033 and 0.9013. The development of the upward structure was cancelled by the price. At the moment, we are monitoring the formation of potential for the downward cycle from October 19. Now, a short-term decline is expected in the range of 0.9084 - 0.9062. If the last value breaks down, it will lead to a strong decline. The target here is 0.9033. Meanwhile, there is a short-term decline and consolidation in the range of 0.9033 - 0.9013.

A short-term growth is possible in the range of 0.9119 - 0.9136. If the last value breaks down, it will encourage the formation of an upward structure. In this case, the potential target is 0.9165.

The main trend is the formation of the potential for the downward movement of October 19

Trading recommendations:

Buy : 0.9120 Take profit: 0.9134

Buy : 0.9137 Take profit: 0.9165

Sell: 0.9084 Take profit: 0.9064

Sell: 0.9060 Take profit: 0.9035

The key levels for the dollar/yen are 105.81, 105.64, 105.48, 105.19, 105.05, 104.86 and 104.75. The development of the descending structure from October 7 is being followed here. At the moment, the price is in correction. A short-term decline is expected in the range of 105.19 - 105.05, and breaking through the last value will lead to a strong movement to the level of 104.86. As a potential value for the bottom, we consider the level 104.75. Upon reaching which, we expect consolidation and upward pullback.

A consolidated upward movement is expected in the range of 105.48 - 105.64. If the last value breaks down, it will lead to a deep correction. Here, the target is 105.81, which is the key support for the downward structure.

The main trend is the descending structure from October 7, correction stage

Trading recommendations:

Buy: 105.65 Take profit: 105.80

Buy : 105.82 Take profit: 106.00

Sell: 105.19 Take profit: 105.06

Sell: 105.03 Take profit: 104.87

The key levels for the USD/CAD pair are 1.3423, 1.3382, 1.3318, 1.3269, 1.3240, 1.3179, 1.3150 and 1.3096. Here, we are following the formation of the rising structure from October 13. Moreover, a short-term growth is expected in the range of 1.3240 - 1.3269. If the last value breaks down, it will lead to a strong movement. The target here is 1.3318 and there is consolidation near this level. If the target breaks down, it will lead us to 1.3382. For the potential value for the top, we consider the level of 1.3423. Upon reaching which, consolidation, and downward pullback can be expected.

Meanwhile, a short-term decline is expected in the range of 1.3179 - 1.3150. If the last value breaks down, it will lead to the development of a potential for a downward movement. In this case, the first potential target is 1.3096.

The main trend is the upward structure from October 13, correction stage

Trading recommendations:

Buy: 1.3240 Take profit: 1.3267

Buy : 1.3271 Take profit: 1.3315

Sell: 1.3177 Take profit: 1.3150

Sell: 1.3145 Take profit: 1.3100

The key levels for the AUD/USD pair are 0.7148, 0.7118, 0.7085, 0.7063, 0.7035, 0.7000 and 0.6972. The downward cycle from October 9 is being followed here. Now, a short-term decline is expected after breaking through the level of 0.7035. In this case, the target is 0.7000. For the potential value for the bottom, we consider the level of 0.6972. Upon reaching which, price consolidation and upward pullback are expected.

A short-term growth is expected in the range of 0.7063 - 0.7085. In case of breakdown of the last value, it will lead to a deep correction. Here, the target is 0.7118, which is the key support for the downward structure. Its breakdown will lead to the formation of initial conditions for the top. In this case, the goal is 0.7148.

The main trend is the descending structure from October 9

Trading recommendations:

Buy: 0.7064 Take profit: 0.7085

Buy: 0.7087 Take profit: 0.7118

Sell : 0.7034 Take profit : 0.7000

Sell: 0.6998 Take profit: 0.6974

The key levels for the euro/yen pair are 125.69, 125.34, 124.80, 124.39, 123.92, 123.64, 123.45 and 122.97. Here, we are following the development of a strong potential upward structure from October 15. Moreover, we expect growth to continue after breaking through the level of 124.39. In this case, the target is 124.80 and there is consolidation near this level. If the target breaks down, it will lead to the development of a strong growth. In this case, the target is 125.34. For the potential value for the top, we consider the level of 125.69. Upon reaching which, we expect consolidation and downward pullback.

Leaving the correction is expected after the breakdown of 123.92. Here, the target is 123.64. Meanwhile, the range of 123.64 - 123.45 is the key support for the top. The price passing this range will favor the development of a downward trend. The level of 122.97 is the potential target.

The main trend is the formation of a pronounced potential for the top from October 15

Trading recommendations:

Buy: 124.40 Take profit: 124.80

Buy: 124.83 Take profit: 125.34

Sell: 123.90 Take profit: 123.65

Sell: 123.42 Take profit: 123.00

The key levels for the pound/yen pair are 139.04, 138.58, 137.88, 137.31, 136.11, 135.85, 135.46, 134.80, 134.36, 133.72 and 133.34. The price here is in a correction from the downward trend of October 9 and is forming potential for the October 16 high. Here, we can expect growth to continue after breaking through the level of 137.31. In this case, the target is 137.88. There is consolidation near this level. If the level of 137.88 breaks down, it should be accompanied by a strong growth. The target is 138.58. Moreover, there is a short-term growth and consolidation in the range of 138.58 - 139.04.

The range 136.11 - 135.85 is the key support for the top. The price passing this range will lead to further development of the downward structure from October 9. In this case, the first goal is 135.46. The breakdown of which, in turn, should be accompanied by a strong decline to the level of 134.80.

The main trend is the formation of a downward structure from October 9, deep correction stage

Trading recommendations:

Buy: 137.31 Take profit: 137.85

Buy: 137.90 Take profit: 138.58

Sell: 135.85 Take profit: 135.46

Sell: 135.44 Take profit: 134.80