Fractal analysis of the main currency pairs for Mar 12, 2020

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Forecast for March 12:

Analytical review of currency pairs on the scale of H1:

For the euro / dollar pair, the key levels on the H1 scale are: 1.1503, 1.1419, 1.1359, 1.1280, 1.1242, 1.1183 and 1.1122. Here, the price is in correction from the upward trend and forms the potential for corrective movement of March 9. Consolidated movement is expected in the range of 1.1359 – 1.1419. The breakdown of the last value will lead to a pronounced movement. Here, the target is 1.1503. We expect a pullback to the bottom from this level.

Short-term downward movement is expected in the range of 1.1280 – 1.1242. The breakdown of the latter value will lead to an in-depth correction. Here, the target is 1.1183. 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 1.1122.

The main trend is the correction stage.

Trading recommendations:

Buy: 1.1421 Take profit: 1.1503

Buy: 1.1505 Take profit: 1.1660

Sell: 1.1280 Take profit: 1.1243

Sell: 1.1241 Take profit: 1.1184

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For the pound / dollar pair, the key levels on the H1 scale are: 1.3026, 1.2936, 1.2874, 1.2786, 1.2739, 1.2611 and 1.2527. Here, the price forms the initial conditions for the downward cycle of March 9. The continuation of the movement to the bottom is expected after the price passes the noise range 1.2786 – 1.2739. In this case, the target is 1.2611. For the potential value for the top, we consider the level of 1.2527. Upon reaching which, we expect consolidation, as well as a rollback to the top.

Short-term upward movement is possibly in the range of 1.2874 – 1.2936. The breakdown of the latter value will lead to an in-depth correction. Here, the target is 1.3026. This level is a key support for the downward structure.

The main trend is the initial conditions for the downward movement of March 9

Trading recommendations:

Buy: 1.2874 Take profit: 1.2934

Buy: 1.2938 Take profit: 1.3024

Sell: 1.2738 Take profit: 1.2613

Sell: 1.2609 Take profit: 1.2528

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For the dollar / franc pair, the key levels on the H1 scale are: 0.9570, 0.9518, 0.9444, 0.9414, 0.9304, 0.9257, 0.9219 and 0.9178. Here, we are following the formation of the initial conditions for the top of March 9. The continuation of the movement to the top is expected after the price passes the noise range 0.9414 – 0.9444. In this case, the target is 0.9518. For the potential value for the top, we consider the level of 0.9570. Upon reaching which, we expect consolidation, as well as a pullback to the bottom.

Short-term downward movement is possibly in the range of 0.9304 – 0.9257. The breakdown of the last value will lead to an in-depth correction. Here, the target is 0.9219. This level is a key support for the upward structure, its passage in price will lead to the formation of initial conditions for the downward trend. Here, the goal is 0.9178.

The main trend is the initial conditions for the top of March 9

Trading recommendations:

Buy : 0.9444 Take profit: 0.9516

Buy : 0.9519 Take profit: 0.9570

Sell: 0.9304 Take profit: 0.9259

Sell: 0.9255 Take profit: 0.9220

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For the dollar / yen pair, the key levels on the scale are : 108.96, 108.00, 106.60, 105.40, 103.15, 102.43 and 101.46. Here, we are following the formation of the initial conditions for the upward cycle of March 9. The continuation of the movement to the top is expected after the breakdown of the level of 105.40. In this case, the target is 106.60. Price consolidation is near this level. The breakdown of the level of 106.60 should be accompanied by a pronounced upward movement. Here, the target is 108.00. For the potential value for the top, we consider the level of 108.96. Upon reaching which, we expect consolidation, as well as a rollback to the correction.

Short-term downward movement is possibly in the range of 103.15 – 102.43. The breakdown of the latter value will have the downward structure. In this case, the first potential target is 101.46.

The main trend: the formation of initial conditions for the upward cycle of March 9

Trading recommendations:

Buy: 105.40 Take profit: 106.54

Buy : 106.62 Take profit: 108.00

Sell: 103.15 Take profit: 102.45

Sell: 102.40 Take profit: 101.48

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For the Canadian dollar / US dollar pair, the key levels on the H1 scale are: 1.4011, 1.3970, 1.3905, 1.3848, 1.3752, 1.3699, 1.3634 and 1.3519. Here, we are following the development of the local ascendant structure of March 9. Short-term movement to the top is expected in the range of 1.3848 – 1.3905. The breakdown of the last value will lead to a pronounced movement. Here, the target is 1.3970. For the potential value for the top, we consider the level of 1.4011. Upon reaching which, we expect consolidation, as well as a pullback to the bottom.

Short-term downward movement is possibly in the range of 1.3752 – 1.3699. The breakdown of the last value will lead to an in-depth correction. Here, the target is 1.3634. This level is a key support for the top.

The main trend is the local upward structure of March 9.

Trading recommendations:

Buy: 1.3848 Take profit: 1.3905

Buy : 1.3907 Take profit: 1.3970

Sell: 1.3752 Take profit: 1.3700

Sell: 1.3696 Take profit: 1.3636

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For the Australian dollar / US dollar pair, the key levels on the H1 scale are : 0.6952, 0.6806, 0.6758, 0.6695, 0.6579, 0.6448, 0.6392 and 0.6304. Here, we are following the formation of a medium-term upward structure from March 9. At the moment, the price is in the correction zone of this structure. The continuation of the movement to the top is expected after the breakdown of the level of 0.6580, In this case, the target is 0.6695. The breakdown of this level will allow us to expect movement to the level of 0.6758. The passage at the price of the range 0.6578 – 0.6808 should be accompanied by a pronounced upward movement. Here, the potential target is 0.6952.

Short-term downward movement is possibly in the range of 0.6448 – 0.6392. The breakdown of the latter value will lead to the formation of local initial conditions for the downward trend. Here, the potential target is 0.6304.

The main trend is the formation of the ascending structure of March 9, the correction stage

Trading recommendations:

Buy: 0.6580 Take profit: 0.6695

Buy: 0.6697 Take profit: 0.6758

Sell : 0.6448 Take profit : 0.6394

Sell: 0.6390 Take profit: 0.6306

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For the euro / yen pair, the key levels on the H1 scale are: 121.65, 120.04, 119.49, 118.66, 118.05, 116.64, 116.27 and 115.27. Here, we are following the formation of the initial conditions for the upward cycle of March 9. Short-term upward movement is expected in the range of 118.05 – 118.66. The breakdown of the latter value will lead to a movement to the level of 119.49. Short-term upward movement, as well as consolidation is in the range of 119.49 – 120.0. The breakdown of the level of 120.04 should be accompanied by a pronounced upward movement. Here, the potential target is 121.65.

The range of 116.64 – 116.27 is a key support for the top. Its passage at the price will lead to the development of a downward trend. Here, the potential target is 115.27.

The main trend is the formation of the rising structure of March 9

Trading recommendations:

Buy: 118.05 Take profit: 118.64

Buy: 118.68 Take profit: 119.49

Sell: 116.25 Take profit: 115.30

Sell: Take profit:

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For the pound / yen pair, the key levels on the H1 scale are : 134.80, 133.88, 133.26, 132.13, 131.61, 130.78 and 129.61. Here, we are following the development of a small downward cycle of March 10. The continuation of the movement to the bottom is expected after the price passes the noise range 132.13 – 131.61. In this case, the target is 130.78. Price consolidation is near this level. For the potential value for the bottom, we consider the level of 129.61. Upon reaching which, we expect a pullback to the top.

Short-term upward movement is possibly in the range of 133.26 – 133.88. The breakdown of the latter value will lead to the development of an in-depth correction. Here, the goal is 134.80. This level is a key support for the downward cycle.

The main trend is the local descending structure of March 10

Trading recommendations:

Buy: 133.26 Take profit: 133.86

Buy: 133.90 Take profit: 134.80

Sell: 131.60 Take profit: 130.78

Sell: 130.74 Take profit: 129.61

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

Source:: Fractal analysis of the main currency pairs for March 12

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