Dear colleagues.
For the of EUR / USD pair, we follow the formation of the upward structure of March 1. For the GBP / USD pair, the 1.3894 level is the key support for the downward structure from February 26. For the USD / CHF pair, we follow the formation of the downward structure of March 1. For the USD / JPY pair, we have expanded the potential for the downward movement towards the level of 103.89. For the EUR / JPY pair, the continuation of the movement downwards is expected after the breakdown of 129.20.The level of 131.82 is the key support. For the GBP / JPY pair, we continue to follow the movement downwards after the breakdown of 143.90.
Forecast for March 5:
Analytical review of currency pairs in the scale of H1:
For the EUR / USD pair, the key levels on the scale of H1 are: 1.2529, 1.2477, 1.2448, 1.2404, 1.2369, 1.2301, 1.2271 and 1.2234. Here, we follow the formation of the initial conditions for the upward cycle of March 1. Short-term upward movement is possible in the area of 1.2369 - 1.2404. The breakdown of the latter value will lead to the development of a pronounced movement. Here, the target is 1.2448. In the area of 1.2448 - 1.2477 is the consolidation of the price. The potential value for the top is the level of 1.2529. Upon reaching this level, we expect a pullback downwards.
Short-term downward movement is expected in the area of 1.2301 - 1.2271. The breakdown of the last value will lead to in-depth correction. Here, the target is 1.2234. This level is the key support for the top.
The main trend is the formation of the upward structure of March 1.
Trading recommendations:
Buy: 1.2370 Take profit: 1.2402
Buy 1.2406 Take profit: 1.2446
Sell: 1.2300 Take profit: 1.2274
Sell: 1.2269 Take profit: 1.2236
For the GBP / USD pair, the key levels on the scale of H1 are 1.3894, 1.3823, 1.3784, 1.3731, 1.3697, 1.3634 and 1.3583. Here, we continue to follow the downward structure of February 26. The continuation of the movement downwards is expected after passing the price of the noise range at 1.3731 - 1.3697. In this case, the target is 1.3634. The potential value for the bottom is the level of 1.3583. Upon reaching this level, we expect a rollback upward.
Short-term upward movement is possible in the area of 1.3784 - 1.3823. The breakdown of the last value will lead to in-depth movement. Here, the target is 1.3894. This level is the key support for the downward cycle.
The main trend is the downward structure of February 26.
Trading recommendations:
Buy: 1.3784 Take profit: 1.3820
Buy: 1.3825 Take profit: 1.3890
Sell: 1.3695 Take profit: 1.3636
Sell: 1.3632 Take profit: 1.3585
For the USD / CHF pair, the key levels on the scale of H1 are: 0.9430, 0.9407, 0.9383, 0.9327, 0.9281, 0.9245, 0.9220 and 0.9183. Here, we follow the formation of a downward structure from March 1. The continuation of the downward movement is expected after the breakdown of 0.9327. In this case, the target is 0.9281. Near this level is the consolidation of the price. The breakdown of 0.9280 will allow us to count on the movement towards the level of 0.9245. In the area of 0.9245 - 0.9220 is the consolidation of the price. The potential value for the bottom is the level of 0.9183. Upon reaching this level, we expect a rollback upward.
The development of correction is expected after the breakdown of 0.9383. In this case, the target is 0.9407. The range 0.9407 - 0.9430 is the key support for the downward structure from March 1.
The main trend is the formation of a downward structure from March 1.
Trading recommendations:
Buy: 0.9384 Take profit: 0.9405
Buy: 0.9408 Take profit: 0.9430
Sell: 0.9325 Take profit: 0.9284
Sell: 0.9278 Take profit: 0.9245
For the USD / JPY pair, the key levels on a scale are: 106.91, 106.52, 106.28, 105.59, 105.23, 104.75, 104.47 and 103.89. Here, we follow the downward structure of February 21. Consolidated traffic is possible in the area of 105.59 - 105.23. The breakdown of the last value should be accompanied by a pronounced movement towards the level of 104.75. In the area of 104.75 - 104.47 is the consolidation of the price. We consider the level of 103.89 as a potential value for the downward movement. After reaching this level, we expect a pullback upward.
Short-term upward movement is possible in the area of 106.28 - 106.52. The breakdown of the last value will lead to in-depth correction. Here, the target is 106.91. 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 February 21.
Trading recommendations:
Buy: 106.28 Take profit: 106.50
Buy: 106.54 Take profit: 106.90
Sell: 105.20 Take profit: 104.80
Sell: 104.45 Take profit: 103.95
For the CAD / USD pair, the key H1 scale levels are: 1.3046, 1.2972, 1.2902, 1.2862, 1.2764, 1.2709 and 1.2612. Here, we continue to follow the upward structure of February 16. The continuation of the upward movement is expected after the breakdown of 1.2902. In this case, the target is 1.2972. Near this level is the is the consolidation of the price. The potential value for the top is the level of 1.3046. After reaching this level, we expect a pullback downwards.
Short-term downward movement is possible in the area of 1.2806 - 1.2764. The breakdown of the last value will lead to in-depth correction. Here, the target is 1.2709. This level is the key support for the top. Its breakdown will lead to the formation of a downward structure. In this case, the target is 1.2612.
The main trend is the upward structure of February 1.
Trading recommendations:
Buy: 1.2902 Take profit: 1.2970
Buy: 1.2974 Take profit: 1.3044
Sell: 1.2804 Take profit: 1.2764
Sell: 1.2762 Take profit: 1.2710
For the AUD / USD pair, the key levels on the H1 scale are: 0.7846, 0.7793, 0.7759, 0.7699, 0.7668, 0.7630 and 0.7605. Here, we follow the downward structure of February 26. The breakdown at the level of 0.7699 will allow us to count on the movement towards the level of 0.7668. Near this level we expect the consolidation of the price. Passing the price of 0.7666 should be accompanied by a pronounced downward movement. Here, the target is 0.7630. The potential value for the bottom is the level of 0.7605. Upon reaching this level, we expect a rollback to the top.
Short-term upward movement is possible in the area of 0.7760 - 0.7793. The breakdown of the last value will lead to the formation of the initial conditions for the upward cycle. Here, the potential target is 0.7846.
The main trend is the downward structure of February 26.
Trading recommendations:
Buy: 0.7762 Take profit: 0.7790
Buy: 0.7795 Take profit: 0.7840
Sell: 0.7698 Take profit: 0.7670
Sell: 0.7666 Take profit: 0.7632
For the EUR / JPY pair, the key levels on the scale of H1 are: 131.82, 131.37, 130.48, 129.23, 128.34, 127.46 and 126.81. Here, we follow the medium-term downward structure of February 2. Near the level of 129.23 we expect a consolidated movement. The breakdown of the level of 129.20 will allow us to count on the movement towards the level of 128.34. Near this level is the consolidation of the price. As a potential value for the bottom, consider the level of 127.46. The range of 127.46 - 126.81 is noise.
The development of the corrective movement is possible after the breakdown of 130.50. In this case, the target is 131.37. In the area of 131.37 - 131.82 is the consolidation of the price. The breakdown at the price level of 131.90 will lead to the development of the upward structure. Here, the target is 133.00.
The main trend is the downward structure of February 2.
Trading recommendations:
Buy: 130.50 Take profit: 131.30
Buy: 131.90 Take profit: 133.00
Sell: 129.20 Take profit: 128.40
Sell: 128.30 Take profit: 127.50
For the GBP / JPY pair, the key levels on the scale of H1 are: 149.08, 147.76, 146.99, 146.27, 144.78, 143.90 and 142.28. Here, the subsequent goals for the downward movement is seen from the local structure on February 21. Short-term downward movement is possible in the area of 144.78 - 143.90. The breakdown of the last value will allow us to count on the movement towards the potential target of 142.28. Upon reaching this level, we expect a pullback upward.
Short-term upward movement is possible in the area of 146.27 - 146.99. The breakdown of the last value will lead to in-depth correction. Here, the target is 147.76. This level is the key support for the bottom. Passing the price will lead to the development of the upward movement. In this case, the target is 149.08.
The main trend is the downward structure of February 2.
Trading recommendations:
Buy: 146.27 Take profit: 146.94
Buy: 147.00 Take profit: 147.74
Sell: 144.76 Take profit: 143.95
Sell: 143.85 Take profit: 142.35
