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MT5.com - Fractal analysis of major currency pairs on April 30

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Forex Analysis:::2019-04-30

Fractal analysis of major currency pairs on April 30

Dear colleagues.

For the currency pair Euro/Dollar, we follow the formation of the upward structure from April 25, the continuation of the upward movement is expected after the breakdown of 1.1196 and the level of 11.59 is the key support. For the currency pair Pound/Dollar, the price also forms the potential for the top of April 25 in the downward cycle adjustment area and the range of 1.2891 – 1.2870 is the key support. For the currency pair Dollar/Franc, the continuation of the upward movement is expected after the breakdown of 1.0225 and we consider the downward movement as a correction. For the currency pair Dollar/Yen, the price forms the expressed initial conditions for the downward cycle of April 24 and the development of this structure is expected after the breakdown of 111.30. For the currency pair Euro/Yen, the price forms the initial conditions for the top of April 26 and the level of 125.31 is the key resistance. For the currency pair Pound/Yen, the upward structure development from April 26 is expected after the breakdown of 144.53 and the level of 144.08 is the key support.

Forecast for April 30:

Analytical review of H1-scale currency pairs:

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For the currency pair Euro/Dollar, the key levels on the H1 scale are 1.1256, 1.1235, 1.1219, 1.1196, 1.1175, 1.1159, 1.1135 and 1.1114. We follow the formation of the upward structure from April 25. The upward movement is expected after the breakdown of 1.1196. In this case, the target is 1.1219 and in the area of 1.1219 – 1.1235 is the short-term upward movement, as well as consolidation. The potential value for the top is the level of 1.1256, upon reaching which we expect a correction.

The short-term downward movement is possible in the range of 1.1175 – 1.1159 and the breakdown of the latter value will lead to a prolonged correction. The target is 1.1135 and this level is the key support for the upward structure.

The main trend is the formation of an upward structure from April 25.

Trading recommendations:

Buy 1.1196 Take profit: 1.1219

Buy 1.1235 Take profit: 1.1255

Sell: 1.1175 Take profit: 1.1160

Sell: 1.1158 Take profit: 1.1137

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For the currency pair Pound/Dollar, the key levels on the H1 scale are 1.2966, 1.2940, 1.2924, 1.2891, 1.2870, 1.2831 and 1.2805. We follow the formation of the potential for the top of April 25. The short-term downward movement is expected in the area of 1.2891 – 1.2870 and the breakdown of the last value should be accompanied by a pronounced movement. The target is 1.2831. The potential value for the bottom is the level of 1.2805, upon reaching which we expect a rollback to the top.

The short-term upward movement is expected in the area of 1.2940 – 1.2966, and we expect the expressed initial conditions for the upward cycle up to the level of 1.2966. Its breakdown will lead to the development of an upward trend on the H1 scale. In this case, the first potential target is 1.3018.

The main trend is the formation of potential for the upward movement of April 25.

Trading recommendations:

Buy: 1.2940 Take profit: 1.2965

Buy: 1.2968 Take profit: 1.3016

Sell: 1.2890 Take profit: 1.2871

Sell: 1.2869 Take profit: 1.2831

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For the currency pair Dollar/Franc, the key levels on the H1 scale are 1.0286, 1.0257, 1.0225, 1.0193, 1.0176 and 1.0146. We continue to monitor the development of the upward structure from April 12. We expect the upward movement to continue after the breakdown of 1.0225. In this case, the target is 1.0257, consolidation is near this level and hence there is a high probability of a downward reversal. The potential value for the top is the level of 1.0286, after reaching which we expect a correction.

The short-term downward movement is possible in the area of 1.0193 – 1.0176 and the breakdown of the latter value will lead to a prolonged correction. The target is 1.0146 and this level is the key support for the top.

The main trend is the upward cycle of April 12.

Trading recommendations

Buy: 1.0225 Take profit: 1.0255

Buy: 1.0258 Take profit: 1.0286

Sell: 1.0193 Take profit: 1.0176

Sell: 1.0174 Take profit: 1.0146

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For the currency pair Dollar/Yen, the key levels on the H1 scale are 112.14, 111.89, 111.74, 111.44, 111.30, 110.97 and 110.57. The price forms a pronounced potential for the downward movement of April 24. The development of the downward structure is expected after the price passes the range of 111.44 – 111.30. In this case, the goal is 110.97 and consolidation is near this level. The potential value for the downward cycle is still the level of 110.57, near which we expect consolidation, as well as a rollback to the top.

The short-term upward movement is possible in the area of 111.74 – 111.89 and the breakdown of the last value will lead to a prolonged correction. The goal is 112.14 and this level is the key support for the downward structure of April 24.

The main trend is the formation of the downward structure of April 24.

Trading recommendations:

Buy: 111.74 Take profit: 111.88

Buy: 111.90 Take profit: 112.14

Sell: 111.30 Take profit: 111.00

Sell: 110.95 Take profit: 110.58

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For the currency pair Canadian Dollar/Dollar, the key levels on the H1 scale are 1.3585, 1.3558, 1.3516, 1.3496, 1.3469, 1.3442, 1.3407 and 1.3370. We continue to monitor the development of the upward cycle of April 17. At the moment, the price is in deep correction and forms the potential for the bottom of April 25. The upward movement is expected after the price passes the range of 1.3496 – 1.3516. In this case, the target is 1.3558. The potential value for the top is the level of 1.3585, upon reaching which we expect consolidation, as well as a rollback to the top.

The consolidated movement is expected in the area of 1.3469 – 1.3442 and the breakdown of the last value will lead to a deep correction. The target is 1.3407 and this level is the key support for the top. Its breakdown will have to form the initial conditions for the downward cycle. In this case, the target is 1.3370.

The main trend is the upward structure from April 17, the stage of deep correction.

Trading recommendations:

Buy: 1.3516 Take profit: 1.3555

Buy: 1.3558 Take profit: 1.3585

Sell: 1.3440 Take profit: 1.3410

Sell: 1.3405 Take profit: 1.3370

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For the currency pair Australian Dollar/Dollar, the key levels on the H1 scale are 0.7137, 0.7116, 0.7088, 0.7064, 0.7040, 0.7024, 0.7003 and 0.6986. We follow the formation of the upward potential of April 25 and we expect the development of this structure after the breakdown of 0.7064. In this case, the goal is 0.7088 and consolidation is near this level. The breakdown of the level of 0.7088 should be accompanied by a pronounced upward movement. The target is 0.7116. The potential value for the top is the level of 0.7137, upon reaching which we expect consolidation, as well as a rollback to the correction.

The short-term downward movement is possible in the range of 0.7040 – 0.7024 and the breakdown of the latter value will lead to an in-depth correction. The target is 0.7003 and this level is the key support for the upward structure. Its price will lead to the subsequent development of the downward cycle of April 17.

The main trend is the downward cycle of April 17, the stage of deep correction.

Trading recommendations:

Buy: 0.7064 Take profit: 0.7086

Buy: 0.7090 Take profit: 0.7116

Sell: 0.7040 Take profit: 0.7025

Sell: 0.7022 Take profit: 0.7005

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For the currency pair Euro/Yen, the key levels on the H1 scale are 126.13, 125.86, 125.31, 125.13, 124.71, 124.48, 124.30 and 124.05. We follow the formation of the initial conditions for the upward cycle of April 26. The short-term upward movement is expected in the area of 125.13 – 125.31 and the breakdown of the latter value will lead to the development of a pronounced movement. The goal is 125.86. The potential value for the top is the level of 126.13, upon reaching which we expect consolidation, as well as a rollback to the top.

The corrective downward movement is possible in the area of 124.71 – 124.48 and the passage at the price of key support 124.48 – 124.30 will lead to the subsequent development of the downward trend on the H1 scale. In this case, the potential target is 124.05.

The main trend is the formation of initial conditions for the top of April 26.

Trading recommendations:

Buy: 125.31 Take profit: 125.80

Buy: 125.88 Take profit: 126.13

Sell: 124.70 Take profit: 124.50

Sell: 124.30 Take profit: 124.05

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For the currency pair Pound/Yen, the key levels on the H1 scale are 145.39, 145.07, 144.87, 144.53, 144.08, 143.80, 143.49, 143.11 and 142.89. We follow the formation of the initial conditions for the top of April 26. We expect the subsequent development of this structure after the breakdown of 144.55. The target is 144.87 and in the area of 144.87 – 145.07 is the consolidation. The potential value for the top is the level of 145.39, upon reaching which we expect price consolidation.

The continuation of the downward movement is possible after the breakdown of 144.08. The first target is 143.80. The short-term downward movement is expected in the range of 143.80 – 143.49 and the breakdown of the latter value will lead to a pronounced movement. The target is 143.11. The potential value for the bottom is the level of 142.89, upon reaching which we expect consolidation in the area of 142.89 – 143.11, as well as a rollback to the top.

The main trend is the local structure of April 23, the formation of initial conditions for the top of April 26.

Trading recommendations:

Buy: 144.55 Take profit: 144.85

Buy: 145.07 Take profit: 145.36

Sell: 144.08 Take profit: 143.80

Sell: 143.76 Take profit: 143.50

photo
Daichi Takahashi
Analyst InstaForex
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