Outlook on March 26:
Analysis of popular currency pairs on the hourly (H1) chart:
The key levels for the EUR/USD pair are 1.1924, 1.1869, 1.1836, 1.1812, 1.1766, 1.1726, 1.1709, 1.1680 and 1.1662. The price has been moving in a downward trend since March 18. We expect this trend to continue after the level of 1.1766 is broken. The target is set at 1.1726. The price may consolidate in the 1.1726 - 1.1709 range. If the last value breaks down, it will trigger a further decline to 1.1680. The final potential downward target is set at 1.1662. After reaching this level, the price may pullback upwards.
A short-term growth, in turn, is possible in the range of 1.1812 - 1.1836. In case that the last value is broken, a deep correction will develop with the potential target of 1.1869.
The main trend is the downward trend from March 18.
Trading recommendations:
Buy: 1.1812 Take profit: 1.1836
Buy: 1.1838 Take profit: 1.1867
Sell: 1.1764 Take profit: 1.1727
Sell: 1.1709 Take profit: 1.1680
The key levels for the GBP/USD pair are 1.3807, 1.3766, 1.3704, 1.3670, 1.3647, 1.3592 and 1.3553. The price has been moving in a downward trend since March 18. We expect this trend to extend after the level of 1.3704 is broken. The first target is set at 1.3670. If the price manages to break through the range of 1.3670 - 1.3647, further decline will continue to the level of 1.3592. The final potential downward target is set at 1.3553. Once this level is reached, a price consolidation, as well as an upward pullback can be expected.
Meanwhile, a short-term growth is expected in the 1.3766 - 1.3807 range. We expect the strong initial conditions for the upward trend to form from the last value.
The main trend is the downward trend from March 18.
Trading recommendations:
Buy: 1.3767 Take profit: 1.3805
Buy: Take profit:
Sell: 1.3704 Take profit: 1.3670
Sell: 1.3645 Take profit: 1.3592
The key levels for the USD/CHF pair are 0.9495, 0.9454, 0.9406, 0.9363, 0.9338 and 0.9307. The price has been moving in an upward trend since March 17. We expect this growth to continue after the level of 0.9406 breaks down. The target is set at 0.9454. The price may consolidate around this level. The final potential upward target is 0.9495. After reaching it, a downward pullback is possible.
A short-term growth is likely in the range of 0.9363 - 0.9338. If the latter is broken, this will lead to a deep correction. The target is seen at 0.9307, which is also the key support level.
The main trend is the upward trend from March 17.
Trading recommendations:
Buy: 0.9407 Take profit: 0.9454
Buy: 0.9456 Take profit: 0.9495
Sell: 0.9363 Take profit: 0.9338
Sell: 0.9337 Take profit: 0.9308
The key levels for the USD/JPY are 109.97, 109.40, 108.56, 108.04 and 107.39. A strong local initial conditions for the upside is expected to form, which should happen up to the level of 109.97.
We expect the upward trend from March 23 to be cancelled and the downward trend to develop after the level of 108.56 is broken. The first target is set at 108.04. We also expect the formation of a strong structure for the next development of the downward trend up to this level.
The main trend is the local upward trend from February 23.
Trading recommendations:
Buy: 109.40 Take profit: 109.95
Buy: Take profit:
Sell: 108.54 Take profit: 108.06
Sell: 108.02 Take profit: 107.40
The key levels for the USD/CAD pair are 1.2788, 1.2753, 1.2700, 1.2650, 1.2626, 1.2561, 1.2529 and 1.2489. The price has been moving in an upward trend since March 18. We expect this trend to continue once the price manages to break through the range of 1.2626 - 1.2650. The target is set at 1.2700. The price is consolidating around it. If this target breaks down, strong growth will continue towards the next target of 1.2753. The ultimate potential upward target is 1.2788. After reaching this level, a downward pullback is possible.
Meanwhile, a short-term decline can be expected in the 1.2561 - 1.2529 range. If the latter breaks down, a deep correction will occur. The target is set at 1.2489, which is also the key support level.
The main trend is the upward trend from March 18.
Trading recommendations:
Buy: 1.2650 Take profit: 1.2700
Buy: 1.2703 Take profit: 1.2752
Sell: 1.2560 Take profit: 1.2531
Sell: 1.2527 Take profit: 1.2490
The key levels for the AUD/USD pair are 0.7742, 0.7686, 0.7646, 0.7588, 0.7554, 0.7467, 0.7442 and 0.7378. The price has been moving in a downward trend since March 18. We expect this trend to extend after the price breaks through the range of 0.7588 - 0.7554. Here, the target is set at 0.7467. The price may consolidate in the range of 0.7467 - 0.7442. The ultimate potential downward target is the level of 0.7378. We expect the price to move here after the level of 0.7441 is broken.
Alternatively, a short-term growth can be expected in the range of 0.7646 - 0.7686. If the last value breaks down, a deep correction will occur. The target is set at 0.7742, which is also the key support level.
The main trend is the downward trend from March 18.
Trading recommendations:
Buy: 0.7646 Take profit: 0.7685
Buy: 0.7887 Take profit: 0.7741
Sell: 0.7554 Take profit: 0.7468
Sell: 0.7441 Take profit: 0.7378
The key levels for the EUR/JPY pair are 129.54, 129.11, 128.87, 128.36, 128.01, 127.79, 127.31 and 127.09. The price has been moving in a bearish trend since March 18. The downward movement is expected to resume after the level of 128.36 breaks down. The target is set at 128.01. The price may consolidate in the 128.01 - 127.79 range. In case that the level of 127.77 is broken, strong decline will continue to the next target of 127.31. The final potential downward target is 127.09. After reaching this level, an upward pullback can be expected.
So, a short-term growth is possible in the 128.87 - 129.11 range. If the level of 129.11 is broken, a deep correction can be expected. The target is set at 129.54, which is also the key support level.
The main trend is the downward trend from March 18.
Trading recommendations:
Buy: 128.87 Take profit: 129.10
Buy: 129.13 Take profit: 129.52
Sell: 128.34 Take profit: 128.01
Sell: 127.77 Take profit: 127.35
The key levels for the GBP/JPY pair are 151.03, 150.52, 149.34, 148.35, 148.35, 147.75, 147.33 and 146.43. The price has been moving in a downward trend since March 18. It is currently in a deep correction and is likely to end the downward trend, which requires a breakdown of the level of 150.52. Now, we expect the formation of strong initial conditions for the upward trend to the level of 151.03.
The downward movement is expected to continue after the level of 149.34 is broken. A breakout of the first target set at 148.35 will allow us to further decline to the level of 147.75. The price may consolidate in the range of 147.75 - 147.33. The final potential downward target is set at 146.43, After reaching this level, a price consolidation and an upward pullback can be expected.
The main trend is the downward trend from March 18, deep correction stage.
Trading recommendations:
Buy: 150.52 Take profit: 151.01
Buy: Take profit:
Sell: 149.34 Take profit: 148.37
Sell: 148.33 Take profit: 147.77
