FX.co ★ Fractal analysis for major currency pairs on October 21

Outlook on October 21:

Analytical overview of major pairs on the H1 TF:

The key levels for the euro/dollar pair are 1.1952, 1.1929, 1.1894, 1.1867, 1.1829, 1.1812 and 1.1788. The development of the upward cycle of October 15 is being followed here. Now, a short-term growth is expected in the range of 1.1867 - 1.1894. If the last value breaks down, it will lead to a strong increase, which will lead us to the target of 1.1929. For the potential value for the top, we consider the level of 1.1952. Upon reaching which, price consolidation and downward pullback are expected.

A short-term decline is possible in the range of 1.1829 - 1.1812, breaking through the value will lead to a deep correction. Here, the target is 1.1788.

The main trend is the upward cycle from October 15

Trading recommendations:

Buy: 1.1868 Take profit: 1.1892

Buy: 1.1896 Take profit: 1.1929

Sell: 1.1829 Take profit: 1.1812

Sell: 1.1810 Take profit: 1.1790

The key levels for the pound/dollar pair are 1.3021, 1.2907, 1.2858, 1.2800, 1.2758 and 1.2700. Here, the price entered an equilibrium state: the descending structure from October 12 and the upward potential from October 16. The downward movement of the pair is expected after breaking through the level of 1.2907. In this case, the first target is 1.2858, the breakdown of which, in turn, will allow us to move to the level of 1.2800. Meanwhile, there is a short-term decline and consolidation in the range of 1.2800 - 1.2758. For the potential value for the bottom, we consider the level of 1.2700. Upon reaching which, we expect an upward pullback.

The level of 1.3021 is the key support for the downtrend structure. The price passing this level will lead to the development of the upward trend from October 16.

The main trend is an equilibrium state

Trading recommendations:

Buy: 1.3021 Take profit: 1.3080

Buy: Take profit:

Sell: 1.2907 Take profit: 1.2860

Sell: 1.2856 Take profit: 1.2800

The key levels for the dollar/franc pair are 0.9098, 0.9075, 0.9062, 0.9033, 0.9013, 0.8982 and 0.8966. The development of the downward trend cycle from October 19 is followed here. Now, a short-term decline is expected in the range of 0.9033 - 0.9013. In case of breakdown of the last value, it will lead to a strong decline. Here, the target is 0.8982. For the potential value for the bottom, we consider the level of 0.8966. Upon reaching which, we expect an upward pullback.

A short-term growth is possible in the range of 0.9062 - 0.9075. If the last value breaks down, it will lead to a deep correction. Here, the target is 0.9098, which is the key support for the downward structure from October 19.

The main trend is the downward cycle of October 19

Trading recommendations:

Buy : 0.9062 Take profit: 0.9075

Buy : 0.9077 Take profit: 0.9098

Sell: 0.9033 Take profit: 0.9014

Sell: 0.9012 Take profit: 0.8984

The key levels for the dollar/yen are 105.81, 105.64, 105.48, 105.19, 105.05, 104.86 and 104.75. Here, we are following the development of the top-down structure from October 7. 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 short-term growth, in turn, is expected in the range of 105.48 - 105.64. In case of breakdown of the last value, 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

Trading recommendations:

Buy: 105.50 Take profit: 105.62

Buy : 105.65 Take profit: 105.80

Sell: 105.19 Take profit: 105.06

Sell: 105.03 Take profit: 104.87

The key levels for the USD/CAD pair are 1.3176, 1.3136, 1.3114, 1.3076, 1.3044, 1.3023 and 1.2983. The development of the downward trend on October 15 is being followed. Moreover, the pair is expected to decline further after breaking through the level of 1.3076. In this case, the target is 1.3044. Meanwhile, price consolidation is in the range of 1.3044 - 1.3023. For the potential value for the bottom, we consider the level of 1.2983. Upon reaching which, an upward pullback is likely.

A short-term increase is expected in the range of 1.3114 - 1.3136. Here, breaking through the last value will lead to a deep correction. The potential target is 1.3176, which is the key support for the downward structure.

The main trend is the downward cycle of October 15

Trading recommendations:

Buy: 1.3114 Take profit: 1.3134

Buy : 1.3138 Take profit: 1.3176

Sell: 1.3074 Take profit: 1.3045

Sell: 1.3021 Take profit: 1.2984

The key levels for the AUD/USD pair are 0.7148, 0.7118, 0.7085, 0.7035, 0.7000 and 0.6972. Here, we are following the downward cycle from October 9. 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 0.7085 - 0.7118. If the last value breaks down, it will encourage the formation of initial conditions for the top. In this case, the target is 0.7148.

The main trend is the descending structure from October 9

Trading recommendations:

Buy: 0.7087 Take profit: 0.7118

Buy: 0.7120 Take profit: 0.7148

Sell : 0.7034 Take profit : 0.7000

Sell: 0.6998 Take profit: 0.6974

The key levels for the euro/yen pair are 126.19, 125.69, 125.34, 124.87, 124.58, 124.39 and 124.04. Here, we are following the development of the upward structure of October 15. Now, the growth of the pair is expected to continue after breaking through the level of 124.87. In this case, the target is 125.34. On the other hand, there is a short-term growth as well as consolidation in the range of 125.34 - 125.69. We consider the level of 126.19 as a potential value for the top. Upon reaching which, we expect a downward pullback.

A short-term growth is expected in the range of 124.58 - 124.39. If the last value breaks down, it will lead to a deep correction. The target here is 124.04, which is a key support for the top.

The main trend is the upward cycle from October 15

Trading recommendations:

Buy: 124.88 Take profit: 125.34

Buy: 125.36 Take profit: 125.67

Sell: 124.55 Take profit: 124.40

Sell: 124.37 Take profit: 124.06

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 key support for the top is the range of 136.11 - 135.85. 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