FX.co ★ Fractal analysis of major currency pairs on April 19, 2021

Outlook on April 19:

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

The key levels for the EUR/USD pair are 1.2044, 1.2010, 1.1995, 1.1966, 1.1951 and 1.1921. The price has been moving in an upward trend since March 31. We expect a short-term growth in the range of 1.1995 - 1.2010. If the level of 1.2010 breaks down, strong growth will continue to the next target of 1.2044, from which a downward pullback can be expected.

In turn, a short-term decline is likely in the 1.1966 - 1.1951 range. If the last value is broken, a deep correction will occur. The target is set at 1.1921, which is the key support level.

The main trend is the upward trend from March 31.

Trading recommendations:

Buy: 1.1996 Take profit: 1.2010

Buy: 1.2012 Take profit: 1.2044

Sell: 1.1966 Take profit: 1.1953

Sell: 1.1949 Take profit: 1.1924

The key levels for the GBP/USD pair are 1.4004, 1.3959, 1.3937, 1.3894, 1.3863, 1.3807, 1.3775 and 1.3737. The price is expected to develop the upward trend from April 12. In this case, we expect a short-term growth in the range of 1.3863 - 1.3894. If the latter is broken, strong growth will continue to the next target of 1.3937. The price may consolidate in the range of 1.3937 - 1.3959. The final potential upward target is set at 1.4004 level. After reaching this level, a downward pullback may occur.

On the other hand, a short-term decline is expected in the range of 1.3807 - 1.3775. If the level of 1.3775 is broken, a deep correction will follow. The target is set at 1.3737, which is also the key support level.

The main trend is the upward trend from April 12.

Trading recommendations:

Buy: 1.3864 Take profit: 1.3892

Buy: 1.3896 Take profit: 1.3937

Sell: 1.3807 Take profit: 1.3777

Sell: 1.3773 Take profit: 1.3740

The key levels for the USD/CHF pair are 0.9283, 0.9248, 0.9226, 0.9187, 0.9161, 0.9108, 0.9086 and 0.9049. The price has been moving in a downward trend since April 1. Here, we expect a short-term decline in the range of 0.9187 - 0.9161. If the last value is broken, strong decline will continue to the target of 0.9108. After that, another short-term decline, with consolidation, can be expected in the 0.9108 - 0.9086 range. The final potential downward target is set at 0.9049. After reaching this level, an upward pullback can be expected.

Meanwhile, short-term growth is possible in the range of 0.9226 - 0.9248. If the latter is broken, a deep correction will occur. The target is set at 0.9283, which is also the key support level.

The main trend is the downward trend from April 1.

Trading recommendations:

Buy: 0.9226 Take profit: 0.9248

Buy: 0.9250 Take profit: 0.9283

Sell: 0.9186 Take profit: 0.9163

Sell: 0.9160 Take profit: 0.9108

The key levels for the USD/JPY pair are 109.11, 108.82, 108.63, 108.29, 108.13, 107.80, 107.66 and 107.43. The price has been moving in a downward trend since April 9. Currently, we expect it to reach the level of 108.29. Afterwards, a short-term decline and consolidation is possible in the 108.29 - 108.13 range. If the latter is broken, strong decline will continue to the target of 107.80. The price may consolidate in the range of 107.80 - 107.66. The final potential downward target is 107.43. An upward pullback is expected after reaching this level.

Alternatively, a short-term growth is possible in the range of 108.63 - 108.82. Once the last value breaks down, a deep correction will occur. The target is set at 109.11, which is also the key support level.

The main trend is the local downward trend from April 9.

Trading recommendations:

Buy: 108.63 Take profit: 108.80

Buy: 108.84 Take profit: 109.10

Sell: 108.12 Take profit: 107.83

Sell: 107.64 Take profit: 107.44

The key levels for the USD/CAD pair are 1.2578, 1.2554, 1.2535, 1.2501, 1.2487, 1.2463, 1.2449 and 1.2416. The price is monitoring the downward potential from April 13. We expect the downward movement to continue after the price breaks through the 1.2501 - 1.2487 range. The next target is set at 1.2463. The price may consolidate in the range of 1.2463 - 1.2449. If the last value breaks down, the movement will continue to a potential target of 1.2416. After reaching this level, an upward pull back can be expected.

A short-term growth is expected in the range of 1.2535 - 1.2554. If the level of 1.2554 breaks down, this will lead to a deep correction. The target is set at 1.2578, which is also the key support level.

The main trend is the downward trend from April 13.

Trading recommendations:

Buy: 1.2535 Take profit: 1.2552

Buy: 1.2555 Take profit: 1.2578

Sell: 1.2485 Take profit: 1.2464

Sell: 1.2447 Take profit: 1.2416

The key levels for the AUD/USD pair are 0.7860, 0.7813, 0.7790, 0.7762, 0.7721, 0.7701 and 0.7665. The price has been moving in a bullish trend since April 1. We expect the upward movement to continue after the level of 0.7762 breaks down. The target is set at 0.7790 and the price may consolidate in the range of 0.7790 - 0.7813. The ultimate potential upward target is set at 0.7860. After reaching it, the price may consolidate and pullback downwards.

A short-term decline is possible in the 0.7721 - 0.7701 range. If the latter is broken, a deep correction will occur. The target is set at 0.7665, which is also the key support level.

The main trend is the upward trend from April 1.

Trading recommendations:

Buy: 0.7762 Take profit: 0.7790

Buy: 0.7814 Take profit: 0.7860

Sell: 0.7721 Take profit: 0.7702

Sell: 0.7700 Take profit: 0.7666

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 situation is in equilibrium and so far, strong initial conditions for both directions are not observed. The price is expected to consolidate in the range of 130.27 - 130.61. If the latter breaks down, strong movement will continue to the next target of 130.98. The price may consolidate in the 130.98 - 131.22 range. The final potential upward target is set at 131.72. After reaching this level, a downward pull back can be expected.

A short-term decline, in turn, 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: 130.63 Take profit: 130.98

Buy: 131.23 Take profit: 131.70

Sell: 129.84 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 extend after the level of 149.42 is broken. The target is set at 148.66 and the price may consolidate near it. After the break down of the indicated 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 final potential downward target is set at 146.45, from which an upward pullback is expected.

A short-term growth is likely in the range of 150.25 - 150.81. If the level of 150.81 is broken, a deep correction may 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