Dear colleagues.
On the EUR/USD pair, we follow the development of the downward cycle from April 17. On the GBP/USD pair, we follow the downward structure from April 17 and continue its downward movement after the breakdown at 1.3962. For the USD/CHF pair, we follow the development of the upward cycle from April 10 and the continuation of the upward movement is expected after the breakdown of 0.9766. For the USD/JPY pair, subsequent goals for the upward movement were determined from the local structure on April 11. For the EUR/JPY pair, we follow the formation of the upward structure of March 22 and the continuation of the upward movement is expected after the breakdown of 132.85, the level of 131.94 key support. For the GBP/JPY pair, we follow the downward structure from April 16 and continue to move downward after the breakdown of 150.69.
Forecast for April 23:
Analytical review of currency pairs in the H1 scale:
For the EUR/USD pair, the key levels on the H1 scale are 1.2338, 1.2311, 1.2293, 1.2260, 1.2235, 1.2218 and 1.2183. Here we follow the downward structure of April 17. The downward movement is expected to continue after the breakdown of 1.2260, which in this case, the target is 1.2235 in the boundary between 1.2235 and 1.2218 where the price consolidates. We consider the level of 1.2183 to be a potential value for the downward trend, after which, we expect a pullback to the top.
A Short-term upward movement is possible in the area of 1.2293 – 1.2311 and a breakdown of the last value will lead to an in-depth correction. Here, the target is 1.2338.
The main trend is the downward cycle from April 17.
Trading recommendations:
Buy: 1.2293 Take profit: 1.2310
Buy 1.2313 Take profit: 1.2335
Sell: 1.2258 Take profit: 1.2237
Sell: 1.2233 Take profit: 1.2219
For the GBP / USD pair, the key levels on the H1 scale are 1.4171, 1.4127, 1.4096, 1.4046, 1.3964, 1.3892 and 1.3847. Here, we follow the downward structure of April 17. A continued downward movement is expected after the breakdown of 1.3964, which in this case, the target is 1.3892, near the consolidation level. The potential value for the bottom is the level of 1.3847, after which, we expect a rollback to the top.
The correction is possible after the breakdown at 1.4046, which in this case, the target is 1.4096 in the area of 1.4096 - 1.4127, where the price consolidates. This range is the key support for the downward structure.
The main trend is the downward structure of April 17.
Trading recommendations:
Buy: 1.4046 Take profit: 1.4094
Buy: 1.4129 Take profit: 1.4170
Sell: 1.3962 Take profit: 1.3894
Sell: 1.3890 Take profit: 1.3850
For the USD/CHF pair, the key levels on the H1 scale are 0.9874, 0.9821, 0.9797, 0.9764, 0.9727, 0.9711, 0.9686 and 0.9667. Here, we follow the upward structure of April 10. An upward movement is expected to continue after the breakdown of 0.9764, which in this case, the target is 0.9797, in the boundary between 0.9797 and 0.9821, where the price consolidates. The potential top value is the level of 0.9874. Upon reaching this level, we expect the departure of correction.
A short-term downward movement is possible in the area of 0.9727 and 0.9711. A breakdown of the last value will lead to an in-depth correction. Here, the target is 0.9688 and the range of 0.9686 - 0.9667 will be the key support for the upward structure.
The main trend is the upward structure of April 10.
Trading recommendations:
Buy: 0.9764 Take profit: 0.9795
Buy: 0.9799 Take profit: 0.9820
Sell: 0.9710 Take profit: 0.9690
Sell: 0.9684 Take profit: 0.9668
For the USD/JPY pair, the key levels on the H1 scale are 108.94, 108.75, 108.49, 108.28, 108.05, 107.69, 107.54 and 107.35. Here, we determine the subsequent goals from the local upward structure on April 11. The upward movement is expected to continue after the breakdown of 108.05, which in this case, the target is 108.28 in the boundary between 108.28 and 108.49. We expect a short-term upward movement. A breakout in the level of 108.50 should be accompanied by a pronounced upward movement. Here, the potential target is 108.75, in the boundary between 108.75 and 108.94, where the price consolidates.
A short-term downward movement is possible in the area of 107.69 - 107.54. The breakdown of the last value will lead to an in-depth correction, here the target is 107.35, this level is the key support for the top.
The main trend: a local upward cycle from April 11.
Trading recommendations:
Buy: 108.05 Take profit: 108.26
Buy: 108.30 Take profit: 108.45
Sell: 107.67 Take profit: 107.56
Sell: 107.51 Take profit: 107.37
For the USD/CAD pair, the key H1 scale levels are 1.2930, 1.2871, 1.2843, 1.2795, 1.2737, 1.2708 and 1.2666. Here, we follow the upward structure of April 17. An upward movement is expected to continue after the breakdown of 1.2795, which in this case, the target is 1.2843, in the boundary of 1.2843 and 1.2871, where the price consolidates. The potential value for the top is the level of 1.2930. Upon reaching, we expect a pullback to the bottom.
A short-term downward movement is possible in the area of 1.2737 - 1.2708. A breakdown of the latter value will lead to an in-depth correction. Here, the target is the level of 1.2666, which is the key support for the top of April 17.
The main trend is the upward structure of April 17.
Trading recommendations:
Buy: 1.2795 Take profit: 1.2840
Buy: 1.2845 Take profit: 1.2870
Sell: 1.2735 Take profit: 1.2710
Sell: 1.2706 Take profit: 1.2668
For the AUD/USD pair, the key levels on the H1 scale are 0.7755, 0.7718, 0.7696, 0.7683, 0.7646, 0.7619, 0.7584 and 0.7564. Here, we follow the downward structure of April 19. A downward movement is expected to continue after the breakdown of 0.7646, which in this case, the target is 0.7619, where the price consolidates. The breakdown at the level of 0.7619 should be accompanied by a pronounced downward movement to the potential target - 0.7584 in the boundary of 0.7584 and 0.7564, where the price consolidates.
A short-term upward movement is possible in the area of 0.7683 – 0.7696. A breakdown of the last value will lead to an in-depth correction. Here, the target is 0.7718, this level is the key support for the top. its breakdown will form the initial conditions for the upward cycle.
The main trend is the downward structure of April 19.
Trading recommendations:
Buy: 0.7696 Take profit: 0.7716
Buy: 0.7720 Take profit: 0.7750
Sell: 0.7644 Take profit: 0.7622
Sell: 0.7617 Take profit: 0.7587
For the EUR/JPY pair, the key levels on the H1 scale are 134.70, 133.92, 133.54, 132.85, 131.94, 131.54, 131.09 and 130.36. Here, we continue to follow the formation of the upward structure of March 22. An upward movement is expected to continue after the breakdown of 132.85, which in this case, the target is 133.54 in the boundary of 133.54 and 133.92, where the price consolidates. The potential value of the upward structure is 134.70.
A short-term downward movement is possible in the area of 131.94 - 131.54. A breakdown of the last value will lead to an in-depth correction. Here, the target is the level of 131.09 which is the key support for the upward structure of March 22.
The main trend is the ascending structure of March 22.
Trading recommendations:
Buy: 132.85 Take profit: 133.52
Buy: 133.95 Take profit: 134.70
Sell: 131.90 Take profit: 131.56
Sell: 131.50 Take profit: 131.10
For the GBP/JPY pair, the key levels on the H1 scale are 152.70, 152.21, 151.85, 150.97, 150.69, 150.23 and 149.59. Here, we follow the descending structure of April 16. A downward movement is expected to continue after the passing the price of the noise range at 150.97 - 150.69, which in this case, the target is 150.23 where the consolidation price is near. The potential value for the top is the level of 149.59. Upon reaching this level, we expect a rollback to correction.
A short-term upward movement is possible in the area of 151.85 – 152.21. The breakdown of the last value will lead to an in-depth correction. Here, the target is the level of 152.70, which is the key support.
The main trend is the downward structure of April 16.
Trading recommendations:
Buy: 151.85 Take profit: 152.20
Buy: 152.25 Take profit: 152.70
Sell: 150.67 Take profit: 150.25
Sell: 150.18 Take profit: 149.65
