FX.co ★ Fractal analysis of major currency pairs on April 5, 2021

Outlook on April 5:

Analysis of popular currency pairs on the hourly (H1) chart:

The key levels for the EUR/USD pair are 1.1812, 1.1788, 1.1726, 1.1709, 1.1680, 1.1662 and 1.1625. The price, which is currently in a correction stage, has been moving in a downward trend since March 18. We expect it to consolidate in the range of 1.1726 - 1.1709, If the level of 1.1709 breaks down, strong decline will continue to the target of 1.1680. A short-term decline and consolidation are in the next range of 1.1680 - 1.1662. The final potential downward target is set at 1.1625. After reaching this level, the price may pullback upwards.

A short-term growth, in turn, is possible in the 1.1767 - 1.1812 range. The formation of strong initial conditions for the upward trend is expected from the latter level of the range.

The main trend is the downward trend from March 18, correction stage.

Trading recommendations:

Buy: 1.1788 Take profit: 1.1812

Buy: Take profit:

Sell: 1.1707 Take profit: 1.1680

Sell: 1.1661 Take profit: 1.1627

The key levels for the GBP/USD pair are 1.4006, 1.3979, 1.3938, 1.3896, 1.3850, 1.3815, 1.3782 and 1.3748. The price has been moving in an upward trend since March 25. We expect this trend to continue after the 1.3850 level is broken. The target is set at 1.3896 and the price may consolidate around it. Once the indicated target breaks down, the price will head towards the level of 1.3938. Another price consolidation may occur near this level. The final potential upward target is set at 1.4006. After reaching it, the price may consolidate in the range of 1.3979 - 1.4006 and pullback downwards.

Meanwhile, a short-term decline is likely in the range of 1.3815 - 1.3782. If the latter breaks down, a deep correction will occur. The target is set at 1.3748, which is also the key support level.

The main trend is the upward trend from March 25.

Trading recommendations:

Buy: 1.3850 Take profit: 1.3895

Buy: 1.3897 Take profit: 1.3938

Sell: 1.3815 Take profit: 1.3784

Sell: 1.3780 Take profit: 1.3748

The key levels for the USD/CHF pair are 0.9566, 0.9544, 0.9495, 0.9406, 0.9373 and 0.9338. The price has been moving in a bullish trend since March 17. We expect this growth to extend after the level of 0.9454 is broken. The target is set at 0.9495. The price may consolidate within this level. If the level of 0.9497 is broken, strong growth will resume towards 0.9544. The final potential upward target is 0.9566. After reaching this level, the price may consolidate in the range of 0.9544 - 0.9566 and pullback down.

On the other hand, a short-term decline can be expected in the range of 0.9406 - 0.9373. If the level of 0.9373 breaks down, a deep correction will occur. The target is set at 0.9338, which is also the key support level.

The main trend is the upward trend from March 17.

Trading recommendations:

Buy: 0.9456 Take profit: 0.9495

Buy: 0.9497 Take profit: 0.9544

Sell: 0.9406 Take profit: 0.9375

Sell: 0.9371 Take profit: 0.9338

The key levels for the USD/JPY are 112.22, 111.92, 111.43, 111.22, 110.98, 110.43, 110.07 and 109.68. The price has been following the formation of the medium-term upward trend from March 23. We expect this trend to resume after breaking through the level of 110.98. The target is set at 111.22 and the price may consolidate around it. In the event that the price breaks through the range of 111.22 - 111.43, strong growth will continue towards the target of 111.92. The ultimate potential upward target is 112.22. After reaching this level, the price may consolidate and pullback below.

A short-term decline can be expected in the range of 110.43 - 110.07. Once the latter is broken, a deep correction will occur. The target is set at 109.68, which is also the key support level.

The main trend is the mid-term upward trend from March 23,

Trading recommendations:

Buy: 110.98 Take profit: 111.22

Buy: 111.45 Take profit: 111.90

Sell: 110.43 Take profit: 110.08

Sell: 110.05 Take profit: 109.70

The key levels for the USD/CAD pair are 1.2788, 1.2753, 1.2700, 1.2650, 1.2626, 1.2595, 1.2529, 1.2498 and 1.2458. The price, which is currently in correction, has been moving in an upward trend since March 18. Now, it is forming a downward potential from March 30. The upward movement is expected to continue after the level of 1.2595 is broken. The first target is set at 1.2626. If the price breaks through the range of 1.2626 - 1.2650, it will allow us to further move to a level of 1.2700. The price is expected to consolidate around it. Once the level of 1.2700 breaks down, strong growth will resume to the next target of 1.2753.The final potential upward target is 1.2788. After reaching this level, a downward pullback may occur.

Alternatively, a short-term decline is expected in the 1.2529 - 1.2498 range. If the 1.2498 level is broken, a deep correction will occur. The target is seen at 1.2458, which is also the key support level.

The main trend is the upward trend from March 18 and formation of the potential for the March 30 low.

Trading recommendations:

Buy: 1.2595 Take profit: 1.2626

Buy: 1.2650 Take profit: 1.2700

Sell: 1.2527 Take profit: 1.2490

Sell: 1.2497 Take profit: 1.2458

The key levels for the AUD/USD pair are 0.7742, 0.7686, 0.7646, 0.7588, 0.7554, 0.7467, 0.7442 and 0.7378. The price has been moving in a bearish trend since March 18. We expect this trend to extend if the price breaks through the range of 0.7588 - 0.7554. The target is set at 0.7467. After that, the price may consolidate in the range of 0.7467 - 0.7442. The final potential downward target is the level of 0.7378. The price may move here once the level of 0.7441 is broken.

On the other hand, a short-term growth is possible in the 0.7646 - 0.7686 range. If the latter breaks down, a deep correction will follow. The target is set at 0.7742, which is also the key support level.

The main trend is the downward trend from March 18.

Trading recommendations:

Buy: 0.7646 Take profit: 0.7685

Buy: 0.7887 Take profit: 0.7741

Sell: 0.7554 Take profit: 0.7468

Sell: 0.7441 Take profit: 0.7378

The key levels for the EUR/JPY pair are 131.72, 131.22, 130.98, 130.61, 130.27, 129.86, 129.57 and 129.16. The price has been moving in an upward trend since March 25. We expect a short-term growth in the range of 130.27 - 130.61. Once the level of 130.61 breaks down, strong movement will resume to the next target of 130.98. Afterwards, the price may consolidate in the range of 130.98 - 131.22. The ultimate potential upward target is set at 131.72. A downward pullback can be expected after reaching this level.

In turn, a short-term decline may occur in the range of 129.86 - 129.57. If the latter breaks down, a deep correction is possible. The target is set at 129.16, which is the key support level.

The main trend is the upward trend from March 25.

Trading recommendations:

Buy: 130.28 Take profit: 130.60

Buy: 130.63 Take profit: 130.98

Sell: 129.86 Take profit: 129.58

Sell: 129.55 Take profit: 129.16

The key levels for the GBP/JPY pair are 155.69, 154.76, 154.27, 153.38, 152.61, 152.04, 151.53 and 150.76. The price has been moving in a bullish trend since March 24. We expect the upward movement to continue after the level of 153.38 is broken. If this works out, strong growth will extend towards the target of 154.27. Meanwhile, a short-term growth and consolidation is possible in the 154.27 - 154.76 range. The final potential upward target is set at 155.69. After reaching it, a downward pullback is possible.

A short-term decline is possible in the 152.61 - 152.04 range. If the level of 152.04 is broken, a deep correction will occur. The target is set at 151.53, which is also the key support level. The breakout of which will lead to the formation of initial conditions for the downward trend. Here, the potential target is 150.76.

The main trend is the upward trend from March 24.

Trading recommendations:

Buy: 153.38 Take profit: 154.27

Buy: 154.77 Take profit: 155.69

Sell: 152.60 Take profit: 152.06

Sell: 151.50 Take profit: 150.80