FX.co ★ Fractal analysis of major currency pairs on April 12, 2021

Outlook on April 12:

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

The key levels for the EUR/USD pair are 1.1995, 1.1970, 1.1953, 1.1915, 1.1898, 1.1859, 1.1834 and 1.1805. The price has been moving in an upward trend since March 31. We expect a short-term growth in the 1.1898 - 1.1915 range. If the level of 1.1915 breaks down, strong growth will continue to the next target of 1.1953. The price may consolidate in the range of 1.1953 - 1.1970. The final potential upward target is set at 1.1995. After reaching this level, a downward pullback can be expected.

A short-term decline, in turn, can be expected in the range of 1.1859 - 1.1834. If the latter breaks down, a deep correction will occur. The target is set at 1.1805, which is also the key support level.

The main trend is the upward trend from March 31.

Trading recommendations:

Buy: 1.1898 Take profit: 1.1915

Buy: 1.1917 Take profit: 1.1953

Sell: 1.1859 Take profit: 1.1840

Sell: 1.1832 Take profit: 1.1810

The key levels for the GBP/USD pair are 1.3791, 1.3745, 1.3716, 1.3677, 1.3637, 1.3612, 1.3569 and 1.3534. The price has clarified its targets for the downward trend from April 6. We expect this trend to resume after the level of 1.3677 is broken. The target is set at 1.3637. The price may consolidate in the range of 1.3637 - 1.3612. If the last value breaks down, strong decline will continue to the next target of 1.3569. The ultimate potential downward target is 1.3534. After reaching this level, the price may pullback upwards.

A short-term growth is likely in the 1.3716 - 1.3745 range. If the last value breaks down, a deep correction will follow. The target is set at 1.3791, which is also the key support level.

The main trend is the downward trend from April 6.

Trading recommendations:

Buy: 1.3716 Take profit: 1.3744

Buy: 1.3747 Take profit: 1.3790

Sell: 1.3675 Take profit: 1.3640

Sell: 1.3612 Take profit: 1.3574

The key levels for the USD/CHF pair are 0.9317, 0.9283, 0.9262, 0.9226, 0.9187, 0.9161 and 0.9108. The price has been moving in a downward trend since April 1. We expect the decline to continue after the breakdown of 0.9226. The target is set at 0.9187. On the other hand, a short-term decline and consolidation can be expected in the range of 0.9187 - 0.9161. The final potential downward target is 0.9108. After reaching this level, an upward pullback is possible.

A short-term growth can be expected in the 0.9262 - 0.9283 range. If the level of 0.9283 is broken, a deep correction will occur. The target is set at 0.9317, which is also the key support level.

The main trend is the downward trend from April 1.

Trading recommendations:

Buy: 0.9262 Take profit: 0.9282

Buy: 0.9284 Take profit: 0.9315

Sell: 0.9224 Take profit: 0.9188

Sell: 0.9186 Take profit: 0.9164

The key levels for the USD/JPY pair are 110.21, 109.85, 109.62, 109.24, 108.93, 108.61, 108.40 and 107.95. The price has been moving in a bearish trend since March 31. Currently, it is in the correction stage and forms a potential for the high of April 8. We expect the downward movement to resume after the level of 109.24 is broken. The target is set at 108.93, whose breakdown will allow us to move to the level of 108.61. The price may consolidate in the range of 108.61 - 108.40. The ultimate potential upward target is set at 107.95, from which an upward pullback is possible.

A short-term decline is likely in the range of 109.62 - 109.85. If the latter is broken, a deep correction can be expected. The target is set at 110.21, which is also the key support level.

The main trend is the downward trend from March 31, correction stage.

Trading recommendations:

Buy: 109.62 Take profit: 109.81

Buy: 109.87 Take profit: 110.20

Sell: 109.22 Take profit: 108.95

Sell: 108.90 Take profit: 108.65

The key levels for the USD/CAD pair are 1.2778, 1.2740, 1.2705, 1.2659, 1.2642, 1.2596, 1.2573, 1.2523, 1.2494, 1.2468, 1.2442 and 1.2426. The price has been moving in a bullish trend from April 5, which will be completed once the level of 1.2523 is broken. In this case, the first target is 1.2494. We expect a short-term growth in the 1.2573-1.2596 range. If the latter is broken, strong growth will continue to the target of 1.2642. Meanwhile, the price breaking through the noise range of 1.2642 - 1.2659 will allow us to further rise to the target of 1.2705. The price may consolidate near this level. If the level of 1.2707 breaks down, the upward movement may extend to the target of 1.2740. Another price consolidation is also expected around this level. The final potential upward target is the 1.2778 mark, from which a downward pullback can be expected.

Meanwhile, a short-term decline is expected in the 1.2494 - 1.2468 range. If the latter is broken, it will lead to a movement to the level of 1.2442. The price may consolidate in the range of 1.2442 - 1.2426, wherein an upward pullback is possible.

The main trend is the upward trend from April 5, deep correction stage.

Trading recommendations:

Buy: 1.2596 Take profit: 1.2642

Buy: 1.2660 Take profit: 1.2705

Sell: 1.2523 Take profit: 1.2495

Sell: 1.2492 Take profit: 1.2468

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 downward trend since March 18, but it is currently in a correction. We expect it to continue declining after the price breaks through the noise range of 0.7588 - 0.7554. The target is set at 0.7467. The price may consolidate in the range of 0.7467 - 0.7442. The final potential downward target is 0.7378. A movement to this level can be expected after the level of 0.7441 is broken.

A short-term growth is possible in the range of 0.7646 - 0.7686. If the latter breaks down, a deep correction may occur. The target is set at 0.7742, which is also the key support level.

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

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. If the level of 130.61 is broken, strong movement will continue to the next target of 130.98. After that, the price may consolidate in the 130.98 - 131.22 range. The final potential upward target is set at 131.72. A downward pullback may occur after reaching this level.

On the other hand, a short-term decline is possible in the range of 129.86 - 129.57. If the latter breaks down, a deep correction can be expected. 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 151.64, 150.81, 150.25, 149.42, 148.66, 147.92, 147.45 and 146.45. The price has been moving in a bearish trend since April 6. We expect this trend to continue after the level of 149.42 is broken. The target is set at 148.66. The price may consolidate within this level. After the break down of the target, the strong decline will continue towards the target of 147.92. The price may consolidate in the range of 147.92 - 147.45. The ultimate potential downward target is set at 146.45, from which an upward pullback is expected.

In turn, short-term growth is possible in the range of 150.25 - 150.81. If the last value is broken, a deep correction will occur. The target is set at 151.64, which is also the key support level.

The main trend is the downward trend from April 6.

Trading recommendations:

Buy: 150.25 Take profit: 150.80

Buy: 150.84 Take profit: 151.60

Sell: 149.40 Take profit: 148.68

Sell: 148.64 Take profit: 147.92