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Fractal analysis

03.01.201909:37 Forex Analysis & Reviews: Fractal analysis of major currency pairs on January 3

Dear colleagues.

For the Euro / Dollar currency pair, we are following the formation of the downward structure of January 2 and the development of which is expected after the breakdown of 1.1259. For the Pound / Dollar currency pair, we are following the development of the downward structure from December 31 and we expect further downward movement after the breakdown of 1.2490. For the currency pair Dollar / Franc, the price forms the initial conditions for the upward cycle of December 28. For the currency pair Dollar / Yen, Euro / Yen and Pound / Yen we expect the recovery of normal market volatility on the H1 scale.

Forecast for January 3:

Analytical review of H1-scale currency pairs:

For the Euro / Dollar currency pair, the key levels on the H1 scale are 1.1430, 1.1394, 1.1367, 1.1298, 1.1259, 1.1194 and 1.1148. Here, we are following the formation of the downward structure of January 2. The short-term downward movement is expected in the range of 1.1298 - 1.1259 and the breakdown of the latter value will lead to the development of a pronounced movement. Here, the goal is 1.1194. The potential value for the bottom is considered the level of 1.1148, upon reaching which we expect a rollback to the top.

The short-term uptrend is possible in the range of 1.1367 - 1.1394 and the breakdown of the latter value will lead to a prolonged correction. Here, the target is 1.1430 and this level is the key support for the downward structure of January 2.

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

Trading recommendations:

Buy 1.1367 Take profit: 1.1392

Buy 1.1396 Take profit: 1.1428

Sell: 1.1298 Take profit: 1.1262

Sell: 1.1257 Take profit: 1.1196

For the Pound / Dollar currency pair, the key levels on the H1 scale are 1.2699, 1.2638, 1.2592, 1.2490, 1.2402, 1.2336, 1.2254 and 1.2200. Here, we are following the development of the downward structure of December 31. The downward movement is expected after the breakdown of 1.2490. In this case, the target is 1.2402 and in the range of 1.2402 - 1.2336 is the short-term downward movement. The breakdown of the level of 1.2254 will lead to a pronounced movement to the level of 1.2254. The potential value for the bottom is considered the level of 1.2200, after reaching which we expect a departure to a correction.

The short-term upward movement is possible in the range of 1.2592 - 1.2638 and the breakdown of the latter value will lead to a prolonged correction. Here, the target is 1.2699 and this level is the key support for the bottom.

The main trend is the downward structure of December 31.

Trading recommendations:

Buy: 1.2592 Take profit: 1.2636

Buy: 1.2640 Take profit: 1.2695

Sell: 1.2490 Take profit: 1.2402

Sell: 1.2398 Take profit: 1.2340

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, the price forms the initial conditions for the top of December 28. The development of the ascending structure is expected 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 is considered the level of 1.0019, the movement to which we expect after the breakdown of 0.9970.

The short-term downward movement is possible in the range of 0.9854 - 0.9836 and the breakdown of the latter value will lead to a prolonged correction. Here, the goal 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

For the Dollar / Yen currency pair, we expect the quotation to be restored on the H1 scale.

For the Canadian dollar / Dollar currency pair, the key levels on the H1 scale are 1.3741, 1.3667, 1.3621, 1.3557, 1.3516 and 1.3463. Here, we are following the development of the bottom-up structure from December 7th. The short-term upward movement is expected in the range of 1.3621 - 1.3667 and the breakdown of the last value will allow expecting a movement towards a potential target of 1.3741, upon reaching this level, we expect a rollback downwards.

The short-term downward movement is possible in the range of 1.3557 - 1.3516 and the breakdown of the latter value will lead to an in-depth correction. Here, the target is 1.3453 and this level is the key support for the top.

The main trend is the local structure for the top of December 7th.

Trading recommendations:

Buy: 1.3621 Take profit: 1.3665

Buy: 1.3670 Take profit: 1.3740

Sell: 1.3555 Take profit: 1.3518

Sell: 1.3514 Take profit: 1.3465

For the Australian Dollar / Dollar currency pair, we expect the H1 scale volatility to recover.

For the Euro / Yen currency pair, we expect the quotation volatility to recover on the H1 scale.

For the Pound / Yen currency pair, we expect the quotation to be restored on the H1 scale.

*تعینات کیا مراد ہے مارکیٹ کے تجزیات یہاں ارسال کیے جاتے ہیں جس کا مقصد آپ کی بیداری بڑھانا ہے، لیکن تجارت کرنے کے لئے ہدایات دینا نہیں.

Daichi Takahashi,
Analytical expert of InstaSpot
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