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15.02.2018 03:35 AM
Fractal analysis of major currency pairs as of February 14

Dear colleagues.

For the EUR / USD pair, the price forms an upward structure from February 9. Its development is expected after the breakdown of 1.2382. For the GBP / USD pair, the price is still in correction from the downward structure. For the USD / CHF pair, the continuation of the upward movement is expected after the breakdown of 0.9406. The level of 0.9296 is the key support for the top. For the USD / JPY pair, we follow the downward structure from February 2. The potential of this is at the level of 105.08. For the EUR / JPY pair, the continuation of the development of the downward structure from 2 February is expected after the breakdown of 132.75. For the GBP / JPY pair, the continuation of the movement downwards is expected after the breakdown at 149.05.

Forecast for February 14:

Analytical review of currency pairs in the scale of H1:

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For the EUR / USD pair, the key levels on the scale of H1 are: 1.2602, 1.2544, 1.2500, 1.2433, 1.2382, 1.2324, 1.2292, 1.2249 and 1.2202. Here, we follow the formation of the upward structure of February 9. The continuation of the upward movement is expected after the breakdown of 1.2382. In this case, the target is 1.2433. Near this level is the consolidation of the price. A break at the level of 1.2435 should be accompanied by a pronounced upward movement. Here, the target is 1.2504. In the area of 1.2504 - 1.2544, we expect short-term upward movement as well as is the consolidation of the price. The potential value for the upward movement is the level of 1.2602.

Short-term downward movement is possible in the area of 1.2324 - 1.2292. The breakdown of the last value will lead to in-depth correction. In this case, the target is 1.2249. This level is the key support for the upward structure. Passing the price will lead to the development of the downward movement. In this case, the target is 1.2202 .

The main trend is the formation of the upward structure of February 9.

Trading recommendations:

Buy: 1.2382 Take profit: 1.2430

Buy 1.2435 Take profit: 1.2500

Sell: 1.2324 Take profit: 1.2293

Sell: 1.2290 Take profit: 1.2250

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For the GBP / USD pair, the key levels on the scale of H1 are 1.4061, 1.3981, 1.3900, 1.3858, 1.3762, 1.3712 and 1.3615. Here, we follow the downward structure from January 25. At the moment, the price is in correction. Short-term downward movement is expected in the range of 1.3762 - 1.3712. The breakdown of the last value should be accompanied by a pronounced movement towards the level of 1.3615. Upon reaching this level, we expect a rollback to the top.

Consolidated movement is possible in the area of 1.3858 - 1.3900. The breakdown of the last value will lead to in-depth movement. Here, the target is 1.3981. This level is the key support for the downward structure. Passing the price will lead to the formation of the initial conditions for the upward cycle.

The main trend is the downward cycle from January 25, the correction stage.

Trading recommendations:

Buy: 1.3903 Take profit: 1.3980

Buy: 1.3983 Take profit: 1.4060

Sell: 1.3760 Take profit: 1.3714

Sell: 1.3708 Take profit: 1.3615

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For the USD / CHF pair, the key levels on the scale of H1 are: 0.9597, 0.9543, 0.9402, 0.9455, 0.9406, 0.9296, 0.9253 and 0.9207. Here, we continue to follow the development of the upward structure from February 1. The cancellation of this structure is possible after the breakdown of 0.9296. In this case, the target is 0.9253. Near this level is the consolidation of the price. The potential value for the downward movement is still considered to be the level of 0.9207.

Continued upward movement is expected after the breakdown of 0.9406. In this case, the first target is 0.9455. The breakdown of this level will allow us to count on the movement towards 0.9502. In the area of 0.9502 - 0.9543 is the consolidation of the price. For the potential value for the top, consider the level of 0.9597. After reaching this level, we expect a pullback downwards.

The main trend is the upward structure from February 1, the stage of deep correction.

Trading recommendations:

Buy: 0.9406 Take profit: 0.9453

Buy: 0.9455 Take profit: 0.9502

Sell: 0.9296 Take profit: 0.9255

Sell: 0.9250 Take profit: 0.9210

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For the USD / JPY pair, the key levels on the scale are: 108.88, 108.33, 107.93, 106.88, 106.38, 105.50 and 105.08. Here, we continue to follow the downward structure of February 2. Short-term downward movement is possible in the area of 106.88 - 106.38. The breakdown of the last value should be accompanied by a pronounced movement towards the level of 105.50. The potential value for the bottom is the level of 105.08. After reaching this level, we expect a rollback upward.

Short-term upward movement is possible in the area of 107.93 - 108.33. The breakdown of the last value will lead to in-depth correction. Here, the target is 108.88. This level is the key support for the downward structure.

The main trend is the downward structure of February 2.

Trading recommendations:

Buy: 107.93 Take profit: 108.30

Buy: 108.35 Take profit: 108.85

Sell: 106.85 Take profit: 106.40

Sell: 106.35 Take profit: 105.55

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For the CAD / USD pair, the key H1 scale levels are: 1.2862, 1.2767, 1.2722, 1.2649, 1.2563, 1.2526 and 1.2463. Here, we follow the development of the upward cycle of February 1. The continuation of the upward movement is expected after the breakdown of 1.2650. In this case, the target is 1.2722. In the area of 1.2722 - 1.2767 is the consolidation of the price. The potential value for the top is the level of 1.2862. Upon reaching this level, we expect a rollback to correction.

Short-term downward movement is possible in the area of 1.2563-1.2526. The breakdown of the latter value will lead to in-depth correction. Here, the target is 1.2463. This level is the key support for the top.

The main trend is the upward structure of February 1.

Trading recommendations:

Buy: 1.2650 Take profit: 1.2720

Buy: 1.2723 Take profit: 1.2765

Sell: 1.2560 Take profit: 1.2528

Sell: 1.2522 Take profit: 1.2465

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For the AUD / USD pair, the key levels in the scale of H1 are: 0.7912, 0.7873, 0.7789, 0.7747, 0.7706 and 0.7624. Here, we follow the downward structure from January 26. At the moment, the price is in correction. The continuation of the downward movement is expected after the breakdown of 0.7789. In this case, the first target is 0.7747. Short-term movement is expected in the area of 0.7747 - 0.7706. The breakdown of the last value should be accompanied by a pronounced movement towards the potential target of 0.7624. From this level, we expect a pullback upward.

Short-term upward movement is possible in the area of 0.7837 - 0.7912. Up to the level of 0.7912, we expect the formation of the initial conditions for the upward cycle from February 9.

The main trend is the downward structure from January 26, the correction stage.

Trading recommendations:

Buy: 0.7875 Take profit: 0.7910

Buy: Take profit:

Sell: 0.7787 Take profit: 0.7750

Sell: 0.7745 Take profit: 0.7710

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For the EUR / JPY pair, the key levels on the scale of H1 are: 136.18, 135.69, 134.73, 133.90, 132.75, 131.82, 131.36, 130.48 and 129.23. Here, we follow the downward structure of February 2. The continuation of the movement downwards is expected after the next breakdown at the level of 132.75. In this case, the target is 131.82. In the area of 131.82 - 131.36 is the consolidation of the price. A breakdown at the level of 131.36 will allow us to count on the movement towards the level of 130.48. The potential value for the bottom is the level of 129.23. Upon reaching this level, we expect a rollback to the top.

Short-term upward movement is possible in the area of 133.90 - 134.73. The breakdown of the last value will lead to the development of an upward structure. In this case, the target is 135.70. The range of 135.70 - 136.18 is noise. Before reaching this level, we will design the initial conditions for the upward cycle.

The main trend is the downward structure of February 2.

Trading recommendations:

Buy: 133.90 Take profit: 134.70

Buy: 134.75 Take profit: 135.65

Sell: 132.75 Take profit: 131.80

Sell: 131.34 Take profit: 130.50

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For the GBP / JPY pair, the key levels on the scale of H1 are: 153.87, 152.56, 151.62, 150.85, 149.08, 147.11 and 145.56. Here, we continue to follow the downward structure of February 2. The continuation of the movement downwards is expected after the breakdown of 149.08. In this case, the target is 147.11. Near this level is the consolidation of the price. A break at the level of 147.10 should be accompanied by a pronounced movement towards the potential level of 145.56. Upon reaching this level, we expect a rollback upward.

Short-term upward movement is possible in the area of 150.85 - 151.62. The breakdown of the last value will lead to in-depth correction. Here, the target is 152.56. This level is the key support for the bottom. Passing the price will lead to the development of an upward movement. In this case, the target is 153.87.

The main trend is the downward structure of February 2.

Trading recommendations:

Buy: 150.85 Take profit: 151.60

Buy: 151.65 Take profit: 152.50

Sell: 149.05 Take profit: 147.15

Sell: 147.08 Take profit: 145.60

Daichi Takahashi,
Analytical expert of InstaForex
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