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Hello, colleagues.

For the Euro/Dollar pair, the price is in the correction zone from the downward cycle, and we expect further development of the movement after the breakdown of 1.1065. For the Pound/Dollar pair, we expect the downward movement to continue after the price passes the range of 1.2227-1.2174 and the level of 1.2543 is the key support. For the Dollar/Franc pair, we follow the upward structure from March 9 and the level of 0.9570 is the key resistance. For the Dollar/Yen pair, we follow the upward structure from March 9; the level of 108.00 is the key resistance and the level of 105.02 is the key support. For the Euro/Yen pair, the price forms local initial conditions for the top of March 12; the level of 119.85 is the key resistance and the level of 117.11 is the key support. For the Pound/Yen pair, we expect the downward movement to continue after the breakdown of 128.47 and the level of 131.72 is the key support.

Forecast for March 17:

Analytical review of currency pairs on the H1 scale:

Exchange Rates 17.03.2020 analysis

For the Euro/Dollar pair, the key levels on the H1 scale are: 1.1259, 1.1207, 1.1166, 1.114, 1.1065, 1.0988, 1.0942, and 1.0851. Here, we continue to monitor the development of the downward cycle from March 9. A short-term downward movement and consolidation are expected in the range of 1.1114-1.1065 and the breakdown of the last value will lead to a pronounced downward movement. Here, the target is 1.0988 and in the area of 1.0988-1.0942 is the price consolidation. The potential value for the bottom is considered to be the level 1.0851, and when this value is reached, we expect a pullback to the top.

We expect a short-term upward movement in the range of 1.1166-1.1207 and the breakdown of the last value will lead to an in-depth correction. Here, the target is 1.1259 and this level is the key support for the descending structure.

The main trend is the downward cycle from March 9.

Trading recommendations:

Buy: 1.1166 Take profit: 1.1205

Buy: 1.1208 Take profit: 1.1257

Sell: 1.1065 Take profit: 1.0990

Sell: 1.0986 Take profit: 1.0943

Exchange Rates 17.03.2020 analysis

For the Pound/Dollar pair, the key levels on the H1 scale are: 1.2664, 1.2543, 1.2448, 1.2227, 1.2174, and 1.2051. Here, we follow the development of the downward cycle from March 9. We expect the downward movement to continue after the price passes the range of 1.2227-1.2174. In this case, the potential target is 1.2051 and we expect a pullback to the correction after reaching this level.

A short-term upward movement is possible in the area of 1.2448-1.2543 and the breakdown of the last value will lead to an in-depth correction. Here, the target is 1.2664 and this level is the key support for the descending structure.

The main trend is the downward cycle from March 9.

Trading recommendations:

Buy: 1.2448 Take profit: 1.2540

Buy: 1.2544 Take profit: 1.2664

Sell: 1.2174 Take profit: 1.2051

Sell: Take profit:

Exchange Rates 17.03.2020 analysis

For the Dollar/Franc pair, the key levels on the H1 scale are: 0.9686, 0.9641, 0.9570, 0.9518, 0.9444, 0.9411, and 0.9355. Here, we follow the development of the upward cycle from March 9. We expect short-term upward movement, as well as consolidation in the range of 0.9518-0.9570 and the breakdown of the latter value should be accompanied by a pronounced upward movement. Here, the target is 0.9641. A potential value for the top is considered to be the level of 0.9686, upon reaching which we expect consolidation, as well as a downward rollback.

A short-term downward movement is possible in the area of 0.9444-0.9411 and the breakdown of the last value will lead to an in-depth correction. Here, the target is 0.9355 and this level is the key support for the top.

The main trend is the initial conditions for the top from March 9.

Trading recommendations:

Buy: 0.9520 Take profit: 0.9568

Buy: 0.9572 Take profit: 0.9640

Sell: 0.9444 Take profit: 0.9412

Sell: 0.9408 Take profit: 0.9360

Exchange Rates 17.03.2020 analysis

For the Dollar/Yen pair, the key levels in the H1 scale are: 111.11, 110.31, 108.96, 108.00, 106.60, 105.97, and 105.02. Here, we follow the development of the upward cycle from March 9. We expect the upward movement to continue after the breakdown of 108.00. In this case, the target is 108.96 and consolidation is near this level. The breakdown of 108.96 will lead to the development of a pronounced movement. Here, the target is 110.31. We consider the level of 111.11 to be a potential value for the top and when this value is reached, we expect consolidation, as well as a downward pullback.

A short-term downward movement is possible in the area of 106.60-105.97 and the breakdown of the last value will lead to an in-depth correction. Here, the target is 105.02 and this level is the key support for the top.

The main trend is the upward cycle from March 9.

Trading recommendations:

Buy: 108.00 Take profit: 108.92

Buy: 108.98 Take profit: 110.30

Sell: 106.60 Take profit: 106.00

Sell: 105.95 Take profit: 105.08

Exchange Rates 17.03.2020 analysis

For the Canadian dollar/Dollar pair, the key levels on the H1 scale are: 1.4220, 1.4162, 1.4062, 1.4019, 1.3952, 1.3806, and 1.3896. Here, we follow the development of the local ascending structure from March 9. A short-term upward movement is expected in the area of 1.4019-1.4062 and the breakdown of the last value will lead to a pronounced movement. Here, the target is 1.4162 and in the area of 1.4162-1.4220 is the price consolidation. We consider the level of 1.4220 as a potential value for the top, after which we expect consolidation, as well as a downward pullback.

A short-term downward movement is possible in the area of 1.3952-1.3896 and the breakdown of the last value will lead to an in-depth correction. Here, the target is 1.3806 and this level is the key support for the top.

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

Trading recommendations:

Buy: 1.4062 Take profit: 1.4160

Buy: 1.4164 Take profit: 1.4220

Sell: 1.3952 Take profit: 1.3897

Sell: 1.3894 Take profit: 1.3808

Exchange Rates 17.03.2020 analysis

For the Australian dollar/Dollar pair, the key levels on the H1 scale are: 0.6390, 0.6326, 0.6229, 0.6098, 0.5997, and 0.5919. Here, we follow the development of the downward cycle from March 9. We expect the downward movement to continue after the breakdown of 0.6098. In this case, the target is 0.5997. We consider the level of 0.5919 as a potential value for the bottom, after which we expect consolidation, as well as a pullback to the correction.

We expect a correction after the breakdown of 0.6229. In this case, the target is 0.6326 and the potential value for the top is still considered the level of 0.6390, this value is the key support.

The main trend is the downward structure from March 9.

Trading recommendations:

Buy: 0.6230 Take profit: 0.6325

Buy: 0.6327 Take profit: 0.6390

Sell: 0.6096 Take profit: 0.6000

Sell: 0.5995 Take profit: 0.5920

Exchange Rates 17.03.2020 analysis

For the Euro/Yen pair, the key levels on the H1 scale are: 123.12, 122.21, 120.93, 119.85, 118.42, 117.92, 116.27, and 117.11. Here, we follow the formation of the initial conditions for the upward cycle from March 12. We expect the upward movement to continue after the breakdown of 119.85. In this case, the target is 120.93 and consolidation is near this level. A breakdown of the level of 120.95 will lead to the development of a pronounced movement. In this case, the target is 122.21. We consider the level of 12312 as a potential value for the top, and when this value is reached, we expect a pullback to the bottom.

The short-term downward movement is possible in the range of 118.42-117.92 and breakdown of the last value will lead to a deeper correction. Here, the target is 117.11 and this level is the key support for the rising structure. Its passage at the price will lead to a movement to the first potential target of 116.27.

The main trend is the formation of local initial conditions for the upward cycle from March 12.

Trading recommendations:

Buy: 119.85 Take profit: 120.90

Buy: 120.95 Take profit: 122.20

Sell: 177.88 Take profit: 117.20

Sell: 117.08 Take profit: 116.28

Exchange Rates 17.03.2020 analysis

For the Pound/Yen pair, the key levels on the H1 scale are: 134.33, 132.71, 131.72, 130.92, 128.47, 127.54, 126.26, and 125.53. Here, we follow the local downward structure from March 13. The short-term downward movement is expected in the area of 128.47-127.54 and the breakdown of the last value should be accompanied by a pronounced movement to the level of 126.26. The potential value for the bottom is considered to be the level of 125.53, after which we expect to go into a correction.

A short-term upward movement is possible in the area of 130.92-131.72 and the breakdown of the last value will lead to a deeper movement. Here, the target is 132.71 and this level is the key support for the downward trend.

The main trend is the formation of a local structure from March 13.

Trading recommendations:

Buy: 130.92 Take profit: 131.70

Buy: 131.73 Take profit: 132.70

Sell: 128.45 Take profit: 127.60

Sell: 127.50 Take profit: 126.26

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

Performed by Daichi Takahashi,
Analytical expert
InstaForex Group © 2007-2020
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