FX.co ★ Fractal analysis of major pairs on January 15, 2021

Outlook for January 15:

Analytical review of popular currency pairs on the hourly chart:

The key levels for the EUR/USD pair are 1.2222, 1.2190, 1.2170, 1.2137, 1.2137, 1.2108, 1.2086 and 1.2042. Following the downward trend from January 7, the pair is expected to continue the decline after 1.2137 is broken with the target at 1.2108. A short-term rise in the range of 1.2108 - 1.2086 is possible, followed by consolidation. For the potential downward target, we have the level of 1.2042. A strong movement is expected after the breakdown of 1.2086.

Short-term growth, in turn, is possible in the range of 1.2170 - 1.2190. If the last value is broken, a deep correction will occur with the potential target at 1.2222. This is the key support for the decline.

The main trend is the downward trend from January 7

Trading recommendations:

Buy: 1.2170 Take profit: 1.2189

Buy: 1.2192 Take profit: 1.2222

Sell: 1.2135 Take profit: 1.2108

Sell: 1.2084 Take profit: 1.2044

The key levels for the GBP/USD pair are 1.3855, 1.3822, 1.3765, 1.3725, 1.3644, 1.3607 and 1.3565. Following the upward trend from January 11, the pair is expected to make a short-term growth in the range of 1.3725 - 1.3765. If the last value is broken, a strong rise will follow with a target of 1.3822. The final upward target is located at 1.3855. Once this level is reached, price consolidation and downward pullback can be expected.

Meanwhile, short-term decline is expected in the range of 1.3644 - 1.3607. If the last value is broken, a deep correction will occur with the target at 1.3565, which is the key support for growth.

The main trend is the upward trend from January 11

Trading recommendations:

Buy: 1.3725 Take profit: 1.3765

Buy: 1.3767 Take profit: 1.3820

Sell: 1.3644 Take profit: 1.3608

Sell: 1.3605 Take profit: 1.3565

The key levels for the USD/CHF pair are 0.8985, 0.8966, 0.8933, 0.8909, 0.8876, 0.8855 and 0.8824.Following the bullish trend from January 6, the pair is expected to make a short-term growth in the range of 0.8909 - 0.8933. If the last value breaks down, a strong rise is expected with the target of 0.8966. The next potential upward target is considered at 0.8985. After reaching this level, price consolidation and downward pullback can be expected.

On another note, a consolidated movement is expected in the range of 0.8876 - 0.8855. If the last value is broken, a deep correction will happen. The potential target is 0.8824, which is the key support for growth.

The main trend is the upward trend from January 6

Trading recommendations:

Buy: 0.8911 Take profit: 0.8931

Buy: 0.8934 Take profit: 0.8966

Sell: Take profit:

Sell: 0.8854 Take profit: 0.8830

The key levels for the USD/JPY are 104.42, 104.08, 103.87, 103.49, 103.22, 102.88 and 102.66. The price is forming a potential for the downward trend from January 11. So, the pair is expected to make a short-term decline in the range of 103.49 - 103.22. The breakdown of the last value will lead to a strong decline with the target of 102.88. This will be followed by the potential downward target of 102.66. Once this level is reached, price consolidation and upward pullback are possible.

A consolidated movement is expected in the range of 103.87 - 104.08. If the last value is broken, it will be conducive to the next development of an upward trend. In this case, the potential target is 104.42.

The main trend is the upward trend from January 6 and formation of bearish potential from January 11

Trading recommendations:

Buy: 103.87 Take profit: 104.08

Buy: 104.11 Take profit: 104.40

Sell: 103.49 Take profit: 103.23

Sell: 103.20 Take profit: 102.90

The key levels for the USD/CAD pair are 1.2833, 1.2767, 1.2733, 1.2703, 1.2654, 1.2602, 1.2569, 1.2520 and 1.2492. Following the bearish trend from January 11, the pair is expected to continue the decline after 1.2654 is broken with the target of 1.2602. A short-term decline in the range of 1.2602 - 1.2569 is observed, with a possible consolidation. If the last level is broken, a strong decline will develop towards the final potential target of 1.2492. After reaching this, price consolidation in the range of 1.2492 - 1.2520 and a pullback into correction can be expected.

A short-term growth, on the contrary, is expected in the range of 1.2703 - 1.2733. In the event of breakdown of the last value, a deep correction will occur with a potential target of 1.2767.

The main trend is the downward trend from January 11

Trading recommendations:

Buy: 1.2703 Take profit: 1.2731

Buy: 1.2734 Take profit: 1.2766

Sell: 1.2654 Take profit: 1.2602

Sell: 1.2601 Take profit: 1.2570

The key levels for the AUD/USD pair are 0.7903, 0.7872, 0.7825, 0.7791, 0.7740, 0.7713, 0.7668 and 0.7629. The price is forming a strong potential for the January 11 high. In this case, the pair is expected to continue the development of the upward trend after 0.7791 is broken, with a target of 0.7825. Price consolidation is near this level. If the upward target breaks down, a strong growth will occur towards the next target of 0.7872. The ultimate target for the rise is the level of 0.7903. Upon reaching which, price consolidation and downward pullback are expected.

In turn, short-term decline is expected in the range of 0.7740 - 0.7713, which can lead to a possible upward reversal. If the last value is broken, the downward trend will develop further with the first target of 0.7668. The final downward target is the level of 0.7629.

The main trend is the formation of bullish potential from January 11

Trading recommendations:

Buy: 0.7791 Take profit: 0.7824

Buy: 0.7827 Take profit: 0.7872

Sell: 0.7740 Take profit: 0.7715

Sell: 0.7711 Take profit: 0.7670

The key levels for the EUR/JPY pair are 126.72, 126.40, 126.15, 125.77, 125.54, 125.19 and 124.98. Following the development of the downward trend from January 7, a short-term decline with a consolidation is expected in the range of 125.77 - 125.54. If the last target breaks down, it will lead to the development of a strong decline with a new target of 125.19. Price consolidation is expected in the range of 125.19 - 124.98, and hence an upward pullback.

On the other hand, short-term growth is expected in the range of 126.15 - 126.40, Upon breaking the last value, a deep correction will occur. The potential target is 126.72.

The main trend is the downward trend from January 7

Trading recommendations:

Buy: 126.15 Take profit: 126.40

Buy: 126.42 Take profit: 126.70

Sell: 125.75 Take profit: 125.55

Sell: 125.52 Take profit: 125.20

The key levels for the GBP/JPY pair are 143.36, 143.04, 142.48, 142.10, 141.50, 141.23, 140.82 and 140.28. Following the development of the bullish trend from January 5, the pair is expected to make a short-term rise in the range of 142.10 - 142.48. If the last value is broken, a strong growth will follow towards the target of 143.04. The final potential upward target is the level of 143.36. Once this level is reached, price consolidation, as well as a downward pullback are possible.

Short-term decline, in turn, is expected in the range of 141.50 - 141.23. If the last value is broken, a deep correction will occur. In this case, the target is 140.82, which is the key support for growth.

The main trend is a local upward trend from January 5

Trading recommendations:

Buy: 142.12 Take profit: 142.44

Buy: 142.52 Take profit: 143.04

Sell: 141.50 Take profit: 141.24

Sell: 141.20 Take profit: 140.84