FX.co ★ Fractal analysis for major currency pairs on December 18

Outlook on December 18:

Analytical overview of major pairs on the H1 TF:

The key levels for the euro/dollar pair are 1.2319, 1.2299, 1.2262, 1.2238, 1.2219, 1.2198 and 1.2161. The development of the upward trend from December 9 is being followed here. Now, short-term growth is expected in the range of 1.2238 - 1.2262. If the last value breaks down, it should be accompanied by strong growth. Here, the target is 1.2299. As for the upward potential target, the level of 1.2319 is considered. Upon reaching which, price consolidation and downward pullback is expected.

Short-term decline, in turn, is possible in the range of 1.2219 - 1.2198. If the last value breaks down, a deep correction will occur. Here, the target is 1.2161.

The main trend is the local upward trend of December 9

Trading recommendations:

Buy: 1.2240 Take profit: 1.2260

Buy: 1.2263 Take profit: 1.2299

Sell: 1.2219 Take profit: 1.2199

Sell: 1.2196 Take profit: 1.2161

The key levels for the pound/dollar pair are 1.3832, 1.3730, 1.3679, 1.3600, 1.3534, 1.3492 and 1.3414. Here, we are following the development of the rising trend from December 11. Therefore, the upward movement is expected to continue after the level of 1.3600 breaks down. In this case, the target is 1.3679. On the other hand, there is a short-term growth and consolidation in the range of 1.3679 - 1.3730. As a potential upward target, we consider the level 1.3832. Upon reaching which, a downward pullback can be expected.

Meanwhile, short-term decline is possible in the range of 1.3534 - 1.3492. In case that the last value breaks down, a deep correction will occur. Here, the target is 1.3414, which is the upward key support level.

The main trend is the upward trend from December 11

Trading recommendations:

Buy: 1.3600 Take profit: 1.3678

Buy: 1.3680 Take profit: 1.3730

Sell: 1.3534 Take profit: 1.3493

Sell: 1.3491 Take profit: 1.3415

The key levels for the dollar/franc pair are 0.8910, 0.8872, 0.8853, 0.8823, 0.8804, 0.8788, 0.8765 and 0.8752. The next downward targets from the local downward trend on December 11 are determined here. With regards to this, we expect the decline to continue after the breakdown of 0.8823. In this case, the target is 0.8804. At the same time, there is a short-term decline and consolidation in the range of 0.8804 - 0.8788. If the last value breaks down, it should be accompanied by a strong decline. The target here is at 0.8765. This can be followed by the potential downward target, which is the level of 0.8752. Upon reaching which, price consolidation and upward pullback can be expected.

On the other hand, short-term increase is possible in the range of 0.8853 - 0.8872. In case that the last value breaks down, it will encourage the formation of initial conditions for an upward trend. Here, the potential target is 0.8910.

The main trend is the local downward trend of December 11

Trading recommendations:

Buy: 0.8853 Take profit: 0.8871

Buy: 0.8874 Take profit: 0.8910

Sell: 0.8823 Take profit: 0.8804

Sell: 0.8787 Take profit: 0.8765

The key levels for the dollar/yen are 104.02, 103.70, 103.44, 103.02, 102.87 and 102.58. Here, we are following the downward trend from December 10. A movement to the level of 103.02 is currently expected. On the other hand, short-term decline and consolidation are possible in the range of 103.02 - 102.87. The level of 102.58 is considered as a potential downward target. An upward pullback is expected after this level is reached.

In this case, short-term growth is expected in the range of 103.44 - 103.70. In case that the last value breaks down, a deep correction will occur. Here, the target is 104.02, which is the key support level for the downward trend.

The main trend is the downward trend from December 10

Trading recommendations:

Buy: 103.44 Take profit: 103.70

Buy: 103.72 Take profit: 104.00

Sell: 103.01 Take profit: 102.88

Sell: 102.85 Take profit: 102.60

The key levels for the USD/CAD pair are 1.2831, 1.2784, 1.2753, 1.2700, 1.2660, 1.2610 and 1.2576. The price forms a local potential trend for the low from December 9. Now, a short-term downward movement is expected in the range of 1.2700 - 1.2660. If the last value breaks down, it will lead to a strong decline. Here, the target is 1.2610. On the other hand, price consolidation is in the range of 1.2610 - 1.2576, from which an upward pullback is expected.

In turn, short-term upward movement is possible in the range of 1.2753 - 1.2784, breaking through the last value will favor the development of an upward trend. In this case, the first target is 1.2831.

The main trend is the local downward trend from December 9

Trading recommendations:

Buy: 1.2753 Take profit: 1.2783

Buy: 1.2785 Take profit: 1.2830

Sell: 1.2700 Take profit: 1.2661

Sell: 1.2659 Take profit: 1.2610

The key levels for the AUD/USD pair are 0.7713, 0.7681, 0.7645, 0.7624, 0.7599, 0.7576 and 0.7544. Here, we define the next upward targets from the local upward trend on December 15. In this regard, short-term growth is expected in the range of 0.7624 - 0.7645. If the last value breaks down, it will lead to a strong movement. The target here is 0.7681. As a potential upward target, we consider the level of 0.7713. Upon reaching which, price consolidation and downward pullback are expected.

On the other hand, short-term downward movement is expected in the range of 0.7599 - 0.7576. In case that the last value breaks down, a deep correction will occur. Here, the target is 0.7544, which is the key support level for the upward trend.

The main trend is the local upward trend of December 15

Trading recommendations:

Buy: 0.7645 Take profit: 0.7680

Buy: 0.7683 Take profit: 0.7713

Sell: 0.7599 Take profit: 0.7577

Sell: 0.7574 Take profit: 0.7546

The key levels for the euro/yen pair are 127.46, 127.32, 127.05, 126.88, 126.66, 126.39, 126.18 and 126.00. The formation of the rising trend from December 16 is being followed here. Thus, we expect the upward movement to continue after the breakdown of 126.66. In this case, the target is 126.88. On the other hand, there is a short-term growth in the range of 126.88 - 127.05. If the last value breaks down, it should be accompanied by a strong increase. Here, the potential target is 127.32 and there is a short-term upward movement and consolidation in the range of 127.32 - 127.46.

Now, correction is expected to be done after breaking through the level of 126.39. Here, the first target is 126.18. For the potential downward target, we consider the level of 126.00, which is a key support for the upward trend on December 16.

The main trend is the upward trend from December 16

Trading recommendations:

Buy: 126.66 Take profit: 126.88

Buy: 126.89 Take profit: 127.05

Sell: 126.39 Take profit: 126.19

Sell: 126.17 Take profit: 126.02

The key levels for the pound/yen pair are 142.50, 142.00, 141.18, 140.63, 139.49, 139.10 and 138.46. Here, the upward trend from December 11 is being followed. At the moment, we expect a movement to the level of 140.63. In this case, short-term growth and consolidation are expected in the range of 140.63 - 141.18. If the last value breaks down, it should be accompanied by a strong growth. Here, the next target is 142.00. This will be followed by the potential upward target - the level 142.50. A downward pullback can be expected after reaching this level.

Short-term decline, in turn, is possible in the range of 139.49. - 139.10. Considering that the last value breaks down, a deep correction will occur. Here, the target is 138.46, which is the key support level above.

The main trend is the upward trend from December 11

Trading recommendations:

Buy: 140.65 Take profit: 141.16

Buy: 141.20 Take profit: 142.00

Sell: 139.49 Take profit: 139.11

Sell: 139.08 Take profit: 138.46