Fractal analysis of the main currency pairs for Apr 2, 2020

analytics5e858ee7d5faa.jpg

Forecast for April 2:

Analytical review of currency pairs on the scale of H1:

For the euro / dollar pair, the key levels on the H1 scale are: 1.1142, 1.1036, 1.0980, 1.0903, 1.0843, 1.0761 and 1.0704. Here, we are following the formation of the descending structure of March 27. The continuation of movement to the bottom is expected after the breakdown of the level of 1.0903. In this case, the target is 1.0843. Price consolidation is near this level. The breakdown of the level of 1.0840 should be accompanied by a pronounced downward movement. Here, the target is 1.0761. For the potential value for the bottom, we consider the level of 1.0704. Upon reaching which, we expect consolidation, as well as a rollback to the top.

Short-term upward movement is possibly in the range of 1.0980 – 1.1036. The breakdown of the latter value will lead to the formation of initial conditions for the upward cycle. In this case, the potential target is 1.1142.

The main trend is the formation of the downward structure of March 27

Trading recommendations:

Buy: 1.0980 Take profit: 1.1034

Buy: 1.1038 Take profit: 1.1120

Sell: 1.0903 Take profit: 1.0845

Sell: 1.0840 Take profit: 1.0845

analytics5e858efd2f818.jpg

For the pound / dollar pair, the key levels on the H1 scale are: 1.2879, 1.2654, 1.2550, 1.2315, 1.2216 and 1.2099. Here, we are following the development of the upward cycle of March 19. Short-term upward movement is expected in the range of 1.2550 – 1.2654. The breakdown of the latter value will lead to a pronounced movement. Here, the potential target is 1.2550. Upon reaching which, we expect consolidation, as well as a pullback to the bottom.

Short-term downward movement is expected in the range of 1.2315 – 1.2216. The breakdown of the last value will lead to an in-depth correction. Here, the target is 1.2099. This level is a key support for the top.

The main trend is the upward cycle of March 19

Trading recommendations:

Buy: 1.2550 Take profit: 1.2652

Buy: 1.2655 Take profit: 1.2876

Sell: 1.2315 Take profit: 1.2218

Sell: 1.2214 Take profit: 1.2100

analytics5e858f10d418d.jpg

For the dollar / franc pair, the key levels on the H1 scale are: 0.9851, 0.9806, 0.9741, 0.9696, 0.9636, 0.9608, 0.9567 and 0.9499. Here, we are following the ascending structure of March 30. We expect short-term upward movement in the range of 0.9696 – 0.9741. The breakdown of the last value should be accompanied by a pronounced movement to the top. Here, the target is 0.9806. For the potential value for the top, we consider the level of 0.9851. Upon reaching this level, we expect a pullback to the bottom.

Short-term downward movement is possibly in the range of 0.9636 – 0.9608. The breakdown of the latter value will lead to an in-depth correction. Here, the target is 0.9567. This level is a key support for the top. Its passage at the price will lead to the formation of initial conditions for the downward cycle. In this case, the goal is 0.9499.

The main trend is the upward structure of March 30

Trading recommendations:

Buy : 0.9696 Take profit: 0.9740

Buy : 0.9744 Take profit: 0.9806

Sell: 0.9636 Take profit: 0.9608

Sell: 0.9605 Take profit: 0.9568

analytics5e858f299e3e2.jpg

For the dollar / yen pair, the key levels on the scale are : 109.58, 108.72, 108.17, 107.27, 106.56, 106.10 and 105.15. Here, we are following the development of the downward structure of March 25. At the moment, the price is in correction. The continuation of movement to the bottom is expected after the breakdown of the level of 107.27. In this case, the target is 106.56. Price consolidation is in the range of 106.56 – 106.10. For the potential value for the bottom, we consider the level of 105.15. Upon reaching this level, we expect a rollback to the top.

Consolidated movement is possibly in the range of 108.17 – 108.72. The breakdown of the last value will lead to an in-depth correction. Here, the goal is 109.58. This level is a key support for the downward structure.

Main trend: the downward trend of March 25

Trading recommendations:

Buy: 108.17 Take profit: 108.70

Buy : 108.74 Take profit: 109.56

Sell: 107.25 Take profit: 106.56

Sell: 106.10 Take profit: 105.15

analytics5e858f48abb3d.jpg

For the Canadian dollar / US dollar pair, the key levels on the H1 scale are: 1.4344, 1.4215, 1.4119, 1.3956, 1.3747, 1.3615 and 1.3425. Here, we are following the development of the downward cycle of March 19. At the moment, the price is in correction. The continuation of the movement to the bottom is expected after the breakdown of the level of 1.3956. In this case, we expect a pronounced movement. Here, the target is 1.3747. Short-term downward movement, as well as consolidation is in the range of 1.3747 – 1.3615. For the potential value for the bottom, we consider the level of 1.3425. Upon reaching this level, we expect a pullback to the top.

Consolidated movement is possibly in the range of 1.4119 – 1.4215. The breakdown of the last value will lead to an in-depth correction. Here, the potential target is 1.4344. This level is a key support for the downward structure.

The main trend is the descending structure of March 19.

Trading recommendations:

Buy: 1.4120 Take profit: 1.4215

Buy : 1.4217 Take profit: 1.4344

Sell: 1.3954 Take profit: 1.3750

Sell: 1.3745 Take profit: 1.3620

analytics5e858f66a48eb.jpg

For the Australian dollar / US dollar pair, the key levels on the H1 scale are : 0.6596, 0.6511, 0.6352, 0.6241, 0.6031, 0.5935 and 0.5779. Here, we are following the development of the upward cycle of March 19. At the moment, we expect a movement to the level of 0.6241. Short-term downward movement, as well as consolidation is in the range of 0.6241 – 0.6352. The breakdown of the level of 0.6352 will lead to a pronounced upward movement. Here, the potential target is 0.6595. Price consolidation is in the range of 0.6595 – 0.6511.

Short-term downward movement is possibly in the range of 0.6031 – 0.5935. The breakdown of the last value will lead to an in-depth correction. Here, the target is 0.5779. This level is a key support for the top.

The main trend is the upward structure of March 19

Trading recommendations:

Buy: 0.6241 Take profit: 0.6350

Buy: 0.6354 Take profit: 0.6511

Sell : 0.6030 Take profit : 0.5935

Sell: 0.5933 Take profit: 0.5780

analytics5e858f85afbba.jpg

For the euro / yen pair, the key levels on the H1 scale are: 121.07, 119.67, 118.74, 117.95, 117.12, 116.48, 115.23 and 114.05. Here, we are following the development of the descending structure of March 25. The continuation of the movement to the bottom is expected after the price passes the noise range 117.12 – 116.48. In this case, the target is 115.23. Price consolidation is near this level. For the potential value for the bottom, we consider the level of 114.05. Upon reaching which, we expect a pullback to the top.

Short-term upward movement is possibly in the range of 117.95 – 118.74. The breakdown of the last value will lead to an in-depth correction. Here, the target is 119.67. This level is a key support for the downward structure.

The main trend is the descending structure of March 25

Trading recommendations:

Buy: 117.95 Take profit: 118.72

Buy: 118.76 Take profit: 119.65

Sell: 116.45 Take profit: 115.25

Sell: 115.20 Take profit: 114.05

analytics5e858f9fdc55d.jpg

For the pound / yen pair, the key levels on the H1 scale are : 140.54, 138.12, 136.99, 134.93, 133.59, 131.58, 129.78 and 127.47. Here, we are following the development of the upward cycle of March 18. Short-term upward movement is expected in the range of 133.59 – 134.93. The breakdown of the last value should be accompanied by a pronounced upward movement. Here, the target is 136.99. Price consolidation is in the range of 136.99 – 138.12. For the potential value for the top, we consider the level of 140.54. Upon reaching this level, we expect a pullback to the bottom.

Short-term downward movement is possibly in the range of 131.58 – 129.78. The breakdown of the latter value will lead to in-depth movement. Here, the target is 127.47. This level is a key support for the upward structure.

The main trend is the upward cycle of March 18

Trading recommendations:

Buy: 133.60 Take profit: 134.90

Buy: 134.95 Take profit: 136.99

Sell: 131.58 Take profit: 129.80

Sell: 129.70 Take profit: 127.50

The material has been provided by InstaForex Company – www.instaforex.com

Source:: Fractal analysis of the main currency pairs for April 2

Won't your trader friends like this?
InstaForex
About the Author
InstaForex brand was created in 2007 and at the moment it’s a top choice of more than 2,000,000 traders. More than 1,000 clients open accounts with InstaForex every day. All InstaForex clients get great opportunities for effective trading on the forex market, as well as on-time technical and customer support

Related Posts

Leave a Reply

*