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07.01.201909:12 Forex Analysis & Reviews: Fractal analysis of major currency pairs for January 7

Long-term review

Dear colleagues.

For the Euro / Dollar currency pair, the price is near the key support for the downward structure of January 2 (1.1430). For the currency pair Pound / Dollar, we follow the formation of the ascending structure from January 2. For the currency pair Dollar / Franc, the price forms the initial conditions for the upward cycle of December 28 and the development of this structure is expected after the breakdown of 0.9926. For the currency pair Dollar / Yen, we have expanded the potential for the top from January 3 to the level of 110.12. For the currency pair Euro / Yen, the price forms the ascending structure of January 3 and the subsequent development of which is expected after the breakdown of 124.25. For the Pound / Yen currency pair, the continuation of the movement to the top is expected after the breakdown of 138.39 and 141.90 is considered a potential level.

Forecast for January 7:

Analytical review of H1-scale currency pairs:

Exchange Rates 07.01.2019 analysis
For the Euro / Dollar currency pair, the key levels on the H1 scale are 1.1430, 1.1394, 1.1336, 1.1298, 1.1259, 1.1194 and 1.1148. Here, we continue to monitor the formation of the downward structure of January 2. At the moment, the price is in the correction zone. The continuation of the movement to the bottom, we expect after the breakdown of 1.1336. In this case, the first goal is 1.1298. The short-term downward movement, possibly in the range of 1.1298 - 1.1259, the breakdown of the latter value will lead to the development of a pronounced movement. Here, the target is 1.1194. The potential value for the bottom, we consider the level of 1.1148, after reaching which, we expect a rollback to the top.

The short-term upward movement, possibly in the range of 1.1394 - 1.1430 and the breakdown of the latter value will lead to the formation of an upward structure. In this case, the potential target is 1.1496.

The main trend is the formation of potential for the bottom of January 2.

Trading recommendations:

Buy 1.1435 Take profit: 1.1480

Buy Take profit:

Sell: 1.1336 Take profit: 1.1300

Sell: 1.1297 Take profit: 1.1260

Exchange Rates 07.01.2019 analysis
For the Pound / Dollar currency pair, the key levels on the H1 scale are 1.2960, 1.2875, 1.2813, 1.2750, 1.2668, 1.2616 and 1.2556. Here, we are following the ascending structure of January 2. The continuation of the movement to the top, we expect after the breakdown of 1.2750. In this case, the goal is 1.2813 and in the range of 1.2813 - 1.2875 is the short-term upward movement, as well as consolidation. The potential value for the top, we consider the level of 1.2960, after reaching which, we expect a rollback to the bottom.

The short-term downward movement, possibly in the range of 1.2668 - 1.2616 and the breakdown of the latter value will lead to a prolonged correction. Here, the target is 1.2556 and this level is the key support.

The main trend is the ascending structure of January 2.

Trading recommendations:

Buy: 1.2750 Take profit: 1.2810

Buy: 1.2815 Take profit: 1.2870

Sell: 1.2668 Take profit: 1.2618

Sell: 1.2614 Take profit: 1.2558

Exchange Rates 07.01.2019 analysis
For the Dollar / Franc currency pair, the key levels on the H1 scale are 1.0019, 0.9970, 0.9950, 0.9926, 0.9854, 0.9836, 0.9813 and 0.9786. Here, we are following the formation of the ascending structure of December 28. The development of the ascending structure, we expect after the breakdown of 0.9926. In this case, the target is 0.9950 and in the range of 0.9950 - 0.9970 is the consolidation. The potential value for the top, we consider the level of 1.0019, the movement to which, we expect after the breakdown of 0.9970.

The short-term downward movement, possibly in the range of 0.9854 - 0.9836 and the breakdown of the last value will lead to a prolonged correction. Here, the target is 0.9813 and this level is the key support for the upward structure.

The main trend is the formation of the initial conditions for the top of December 28.

Trading recommendations:

Buy: 0.9926 Take profit: 0.9950

Buy: 0.9970 Take profit: 1.0010

Sell: 0.9854 Take profit: 0.9838

Sell: 0.9834 Take profit: 0.9815

Exchange Rates 07.01.2019 analysis
For the Dollar / Yen currency pair, the key levels on the scale are 110.12, 109.58, 109.21, 108.95, 108.63, 108.19, 107.93 and 107.52. Here, we are following the formation of the ascending structure of January 3 on the scale of M30. The continuation of the movement to the top, we expect after the breakdown of 108.63. In this case, the goal is 108.95 and the passage at the price of the range of 108.95 - 109.21 will allow us to expect the movement to the level of 109.58, near which we expect consolidation. The potential value for the top, we consider the level of 110.12, after reaching which, we expect a rollback to the bottom.

The short-term downward movement, possibly in the range of 108.19 - 107.93 and the breakdown of the latter value will lead to an in-depth correction. Here, the goal is 107.52 and this level is the key support for the top.

The main trend is the rising structure of January 3.

Trading recommendations:

Buy: 108.65 Take profit: 108.95

Buy: 109.21 Take profit: 109.58

Sell: 108.19 Take profit: 107.95

Sell: 107.90 Take profit: 107.54

Exchange Rates 07.01.2019 analysis
For the Canadian dollar / Dollar currency pair, the key levels on the H1 scale are 1.3490, 1.3432, 1.3395, 1.3320, 1.3271 and 1.3201. Here, we are following the downward structure of December 31. At the moment, we expect the movement to the level of 1.3320 and in the range of 1.3320 - 1.3271 is the short-term downward movements, as well as consolidation. The potential value for the bottom, we consider the level of 1.3201, after reaching which, we expect a rollback to the top.

The short-term upward movement, possibly in the range of 1.3395 - 1.3432 and the breakdown of the latter value will lead to an in-depth correction. Here, the target is 1.3490 and this level is the key support for the downward structure.

The main trend is the formation of a downward structure of December 31.

Trading recommendations:

Buy: 1.3395 Take profit: 1.3430

Buy: 1.3436 Take profit: 1.3490

Sell: 1.3320 Take profit: 1.3274

Sell: 1.3268 Take profit: 1.3205

Exchange Rates 07.01.2019 analysis

For the Australian dollar / dollar currency pair, the key levels on the H1 scale are 0.7207, 0.7157, 0.7131, 0.7084, 0.7059 and 0.7019. Here, we are following the ascending structure of January 3. The short-term upward movement, we expect in the range of 0.7131 - 0.7157 and the breakdown of the latter value will lead to a movement to the potential target. Here, the target is 0.7207, from this level, we expect a rollback to the bottom.

The short-term downward movement, perhaps in the range of 0.7084 - 0.7059 and the breakdown of the last value will lead to a prolonged correction. Here, the target is 0.7019 and this level is the key support for the upward structure.

The main trend is the ascending structure of January 3.

Trading recommendations:

Buy: 0.7131 Take profit: 0.7155

Buy: 0.7160 Take profit: 0.7205

Sell: 0.7082 Take profit: 0.7060

Sell: 0.7055 Take profit: 0.7024

Exchange Rates 07.01.2019 analysis

For the Euro / Yen currency pair, the key levels on the H1 scale are 125.15, 124.22, 123.74, 122.65, 122.29, 121.68 and 120.76. Here, we are following the formation of the ascending structure from January 3. The short-term upward movement, possibly in the range of 123.74 - 124.22 and the breakdown of the latter value will lead to a pronounced movement to the potential target of 125.15, from this level, we expect a rollback to the bottom.

The short-term downward movement, perhaps in the range of 122.65 - 122.30 and the breakdown of the latter value will lead to a prolonged correction. Here, the goal is 121.70 and this level is the key support for the upward structure.

The main trend is the formation of the ascending structure of January 3.

Trading recommendations:

Buy: 13.74 Take profit: 124.20

Buy: 124.25 Take profit: 125.15

Sell: 122.65 Take profit: 122.30

Sell: 122.26 Take profit: 121.80

Exchange Rates 07.01.2019 analysis

For the Pound / Yen currency pair, the key levels on the H1 scale are 141.90, 140.50, 139.49, 138.39, 137.49, 136.81 and 135.70. Here, we are following the ascending structure of January 3. The continuation of the movement to the top, we expect after the breakdown of 138.40. In this case, the goal is 139.49 and near this level is the price consolidation. The breakdown of 139.50 will allow us to count on the movement to the level of 140.50. The potential value for the top, we consider the level of 141.90, after reaching which, we expect a rollback to the bottom.

The short-term downward movement, possibly in the range of 137.49 - 136.81 and the breakdown of the latter value will lead to an in-depth correction. Here, the goal is 135.70 and this level is the key support for the top.

The main trend is the ascending structure of January 3.

Trading recommendations:

Buy: 138.45 Take profit: 139.45

Buy: 139.55 Take profit: 140.50

Sell: 137.45 Take profit: 136.85

Sell: 136.75 Take profit: 136.00

*A análise de mercado aqui postada destina-se a aumentar o seu conhecimento, mas não dar instruções para fazer uma negociação.

Daichi Takahashi,
Analytical expert of InstaSpot
© 2007-2024
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