Hello, colleagues.
For the Euro/Dollar pair, we follow the local upward structure from February 28 and we expect the upward movement to continue after the breakdown of 1.1360. For the Pound/Dollar pair, we follow the development of the upward cycle from February 28 and the level of 1.2923 is the key support. For the Dollar/Franc pair, the following targets for the bottom were determined from the local descending structure on March 4 and the level of 0.9342 is the key resistance. For the Dollar/Yen pair, we follow the development of the local downward cycle from March 3 and the level of 104.96 is the key resistance. For the Euro/Yen pair, we follow the development of the downward structure from March 3; the level of 118.54 is the key resistance and the level of 120.02 is the key support. For the Pound/Yen pair, the price formed a local downward structure from March 2.
Forecast for March 6:
Analytical review of currency pairs on the H1 scale:
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, we follow the local upward cycle from February 28. A short-term upward movement is expected in the area of 1.1359-1.1419 and the breakdown of the last value will lead to a pronounced movement. Here, the target is 1.1503 and we expect a pullback to the bottom from this level.
A short-term downward movement is expected in the range of 1.1280-1.1242 and the breakdown of the last value will lead to a deep correction. Here, the target is 1.1183 and this level is the key support for the top. Its passage by the price will lead to the formation of initial conditions for the downward cycle. In this case, the target is 1.122.
The main trend is the local upward cycle from February 28.
Trading recommendations:
Buy: 1.1360 Take profit: 1.1417
Buy: 1.1421 Take profit: 1.1503
Sell: 1.1280 Take profit: 1.1243
Sell: 1.1241 Take profit: 1.1184
For the Pound/Dollar pair, the key levels on the H1 scale are: 1.3113, 1.3055, 1.3026, 1.2981, 1.2948, and 1.2923. Here, we follow the development of the ascending structure from February 28. A short-term upward movement is expected in the range of 1.3026-1.3055 and the breakdown of the last value will lead to a movement to the potential target - 1.3113, consolidation is near this level, as well as a pullback to the bottom.
Going into correction is possible after the breakdown of 1.2981. Here, the target is 1.2948. The range of 1.2948-1.2923 is the key support for the top.
The main trend is the upward cycle from February 28.
Trading recommendations:
Buy: 1.3026 Take profit: 1.3053
Buy: 1.3056 Take profit: 1.3111
Sell: 1.2980 Take profit: 1.2948
Sell: 1.2946 Take profit: 1.2924
For the Dollar/Franc pair, the key levels on the H1 scale are: 0.9474, 0.9423, 0.9388, 0.9342, 0.9292, 0.9265, and 0.9211. Here, we follow the local descending structure from March 4. We expect a continuation of the downward movement after the breakdown of 0.9342. In this case, the target is 0.9292 and in the area of 0.9292-0.9265 is the consolidation. We consider the level of 0.9211 as a potential value for the bottom, and when this value is reached, we expect a pullback to the top.
A short-term upward movement is possible in the area of 0.9388-0.9423 and the breakdown of the last value will lead to a deep correction. Here, the target is 0.9474 and this level is the key support for the top.
The main trend is the local downward structure from March 4.
Trading recommendations:
Buy: 0.9388 Take profit: 0.9421
Buy: 0.9424 Take profit: 0.9474
Sell: 0.9341 Take profit: 0.9292
Sell: 0.9265 Take profit: 0.9211
For the Dollar/Yen pair, the key levels in the H1 scale are: 106.80, 106.12, 105.62, 104.96, 104.45, 104.07, and 103.35. Here, we follow the development of the local descending structure from March 3. We expect a continuation of the downward movement after the breakdown of 104.96. In this case, the target is 104.45 and in the area of 104.45-104.07 is the consolidation. We consider the level 103.35 as a potential value for the bottom, after reaching this value, we expect a rollback to the correction.
A short-term upward movement is possible in the area of 1105.62-106.12 and the breakdown of the last value will lead to a deep correction. In this case, the target is 106.80 and this level is the key support for the descending structure.
The main trend is the local downward structure from March 3.
Trading recommendations:
Buy: 105.62 Take profit: 106.11
Buy: 106.13 Take profit: 106.80
Sell: 104.94 Take profit: 104.45
Sell: 104.05 Take profit: 103.35
For the Canadian dollar/Dollar pair, the key levels on the H1 scale are: 1.3409, 1.3373, 1.3350, 1.3308, 1.3282, 1.3262, 1.3224, and 1.3201. Here, we follow the formation of the descending structure from February 28. We expect a continuation of the downward movement after the breakdown of 1.3308. In this case, the target is 1.3282, and consolidation is near this level. The passage at the price of the range of 1.3282-1.3262 should be accompanied by a pronounced downward movement. Here, the target is 1.3224. We consider the level of 1.3201 to be a potential value for the bottom, after which we expect consolidation, as well as a pullback to the top.
A consolidated movement is possible in the area of 1.3373-1.3409. From this range, there is a high probability of a reversal to the bottom and a breakdown of the level of 1.3410 will lead to the formation of initial conditions for an upward cycle. In this case, the target is 1.3464.
The main trend is the formation of a downward structure from February 28.
Trading recommendations:
Buy: 1.3375 Take profit: 1.3409
Buy: 1.3412 Take profit: 1.3460
Sell: 1.3308 Take profit: 1.3282
Sell: 1.3260 Take profit: 1.3225
For the Australian dollar/Dollar pair, the key levels on the H1 scale are: 0.6728, 0.6701, 0.6667, 0.6649, 0.6623, 0.6602, and 0.6574. Here, we follow the development of the upward cycle from February 28. A short-term upward movement is expected in the area of 0.6649-0.6667 and the breakdown of the last value will lead to a pronounced movement. Here, the target is 0.6701 and consolidation is near this level. We consider the level of 0.6728 as a potential value for the top, after which we expect a rollback to the bottom.
A short-term downward movement is possible in the area of 0.6623-0.6602 and the breakdown of the last value will lead to a deep correction. Here, the target is 0.6574 and this level is the key support for the top.
The main trend is the upward cycle from February 28.
Trading recommendations:
Buy: 0.6650 Take profit: 0.6665
Buy: 0.6668 Take profit: 0.6701
Sell: 0.6623 Take profit: 0.6604
Sell: 0.6601 Take profit: 0.6576
For the Euro/Yen pair, the key levels on the H1 scale are: 120.02, 119.60, 119.31, 118.87, 118.54, 117.90, and 117.37. Here, we follow the downward structure from March 3. A short-term downward movement is possible in the area of 118.87-118.54 and the breakdown of the last value will lead to a pronounced movement. Here, the target is 117.90 and consolidation is near this level. We consider the level of 117.37 as a potential value for the bottom, after which we expect a rollback to the top.
A short-term upward movement is possible in the area of 119.31-119.60 and the breakdown of the last value will lead to a deep correction. Here, the target is 120.02 and this level is the key support for the descending structure.
The main trend is the downward structure from March 3.
Trading recommendations:
Buy: 119.31 Take profit: 119.60
Buy: 119.62 Take profit: 120.00
Sell: 118.86 Take profit: 118.55
Sell: 118.52 Take profit: 117.92
For the Pound/Yen pair, the key levels on the H1 scale are: 139.34, 138.82, 138.21, 137.79, 136.91, and 136.11. Here, the price formed a local structure for the downward trend from March 2. We expect a continuation of the downward movement after the breakdown of 136.90. In this case, the target is 136.11, after reaching this level, we expect a pullback to the correction.
A short-term upward movement is possible in the area of 137.79-138.21 and the breakdown of the last value will lead to a deeper correction. Here, the target is 138.82 and this level is the key support for the downward cycle. Its breakdown will lead to the formation of an upward structure. In this case, the target is 139.34.
The main trend is the local downward structure from March 2.
Trading recommendations:
Buy: 137.80 Take profit: 138.20
Buy: 138.25 Take profit: 138.80
Sell: 136.90 Take profit: 136.11
Sell: Take profit:
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
InstaSpot analytical reviews will make you fully aware of market trends! Being an InstaSpot client, you are provided with a large number of free services for efficient trading.
