Forecast for March 3:
Analytical review of currency pairs on the scale of H1:
For the euro / dollar pair, the key levels on the H1 scale are: 1.1322, 1.1268, 1.1242, 1.1196, 1.1116, 1.1083 and 1.1029. Here, we are following the local upward cycle of February 28. The continuation of the movement to the top is expected after the breakdown of the level of 1.1196. In this case, the target is 1.1242. Price consolidation is in the range of 1.1242 – 1.1268. For the potential value for the top, we consider the level of 1.1322. Upon reaching this level, we expect a pullback to the bottom.
Short-term downward movement is expected in the range 1.1116 – 1.1083. The breakdown of the last value will lead to an in-depth correction. Here, the goal is 1.1029. This level is a key support for the top, its passage at the price will lead to the formation of initial conditions for the downward cycle.
The main trend is the local upward cycle of February 28
Trading recommendations:
- Buy: 1.1196 Take profit: 1.1242
- Buy: 1.1268 Take profit: 1.1320
- Sell: 1.1116 Take profit: 1.1084
- Sell: 1.1081 Take profit: 1.1030
For the pound / dollar pair, the key levels on the H1 scale are: 1.2866, 1.2827, 1.2795, 1.2717, 1.2689 and 1.2631. Here, we are following the development of the downward cycle of February 25. Short-term movement to the bottom is expected in the range of 1.2717 – 1.2689. The breakdown of the last value will lead to movement to a potential target – 1.2631, when this level is reached, we expect a pullback to the top.
Short-term upward movement is possibly in the range of 1.2795 – 1.2827. The breakdown of the latter value will lead to an in-depth correction. Here, the target is 1.2866. This level is a key support for the downward movement.
The main trend is the downward cycle of February 25.
Trading recommendations:
- Buy: 1.2795 Take profit: 1.2825
- Buy: 1.2828 Take profit: 1.2864
- Sell: 1.2717 Take profit: 1.2690
- Sell: 1.2686 Take profit: 1.2634
For the dollar / franc pair, the key levels on the H1 scale are: 0.9655, 0.9622, 0.9598, 0.9553 and 0.9518. Here, the price is near the limit values for the descending cycle of February 20. In connection with which, we expect a correction. Short-term upward movement is possibly in the range of 0.9598 – 0.9622. The breakdown of the latter value will lead to in-depth movement. Here, the target is 0.9655. This level is a key support for the downward structure.
Short-term downward movement is possibly in the range of 0.9553 – 0.9518. From here, we expect a key reversal to the top.
The main trend is a downward cycle of February 20, we expect a correction
Trading recommendations:
- Buy : 0.9598 Take profit: 0.9621
- Buy : 0.9624 Take profit: 0.9653
- Sell: 0.9551 Take profit: 0.9520
- Sell: Take profit:
For the dollar / yen pair, the key levels on the scale are : 109.62, 108.92, 108.54, 107.33 and 106.48. Here, we are following the development of the downward cycle of February 21. The continuation of movement to the bottom is expected after the breakdown of the level of 107.33. Here, the potential target is 106.48. We expect a pullback to the top from this level.
Short-term upward movement is possibly in the range of 108.54 – 108.92. The breakdown of the last value will lead to an in-depth correction. In this case, the target is 109.62. This level is a key support for the downward structure.
The main trend: the downward cycle of February 21
Trading recommendations:
- Buy: 108.54 Take profit: 108.90
- Buy : 108.94 Take profit: 109.60
- Sell: 107.30 Take profit: 106.55
- Sell: Take profit:
For the Canadian dollar / US dollar pair, the key levels on the H1 scale are: 1.3409, 1.3373, 1.3350, 1.3308, 1.3282, 1.3262, 1.3224 and 1.3201. Here, we are following the formation of the descending structure of February 28. The continuation of the movement to the bottom is expected after the breakdown of the level of 1.3308. In this case, the target is 1.3282.
Price consolidation is near this level. The passage at the price of the noise range 1.3282 – 1.3262 should be accompanied by a pronounced downward movement. Here, the target is 1.3224. For the potential value for the bottom, we consider the level of 1.3201. Upon reaching which, we expect consolidation, as well as a rollback to the top.
Short-term upward movement is possibly in the range of 1.3350 – 1.3373. The breakdown of the latter value will lead to in-depth movement. Here, the target is 1.3409. This level is a key support for the downward structure.
The main trend is the formation of the downward structure of February 28
Trading recommendations:
- Buy: 1.3350 Take profit: 1.3371
- Buy : 1.3375 Take profit: 1.3409
- Sell: 1.3308 Take profit: 1.3282
- Sell: 1.3260 Take profit: 1.3225
For the Australian dollar / US dollar pair, the key levels on the H1 scale are : 0.6637, 0.6602, 0.6588, 0.6571, 0.6551, 0.6518, 0.6501, 0.6480 and 0.6468. Here, we are following the formation of the initial conditions for the top of February 28. The continuation of the movement to the top is expected after the breakdown of the level of 0.6551. In this case, the target is 0.6571. The breakdown of this value will allow us to expect movement to 0.6588.
Price consolidation is near this level. Meanwhile, passing by the price of the noise range 0.6588 – 0.6602 will lead to the development of pronounced movement. Here, the target is 0.6637. For the potential value for the top, we consider the level of 0.6663, from which we expect a pullback to the bottom.
Short-term downward movement is possibly in the range of 0.6518 – 0.6501. The breakdown of the latter value will lead to the formation of a local descending structure. In this case, the target is 0.6480.
The main trend is the formation of initial conditions for the top of February 28
Trading recommendations:
- Buy: 0.6551 Take profit: 0.6570
- Buy: 0.6572 Take profit: 0.6586
- Sell : 0.6518 Take profit : 0.6503
- Sell: 0.6500 Take profit: 0.6482
For the euro / yen pair, the key levels on the H1 scale are: 122.07, 121.61, 121.36, 120.92, 120.23, 119.95 and 119.54. Here, we are following the formation of the initial conditions for the top of February 28. The continuation of the movement to the top is expected after the breakdown of the level of 120.92. In this case, the target is 121.36. Price consolidation is in the range of 121.36 – 121.61. For the potential value for the top, we consider the level of 122.07, upon reaching which, we expect a pullback to the bottom.
Short-term downward movement is possibly in the range of 120.36 – 119.95. The breakdown of the last value will lead to an in-depth correction. Here, the goal is 119.54. This level is a key support for the upward structure.
The main trend is the formation of initial conditions for the top of February 28
Trading recommendations:
- Buy: 120.92 Take profit: 121.36
- Buy: 121.62 Take profit: 122.07
- Sell: 120.23 Take profit: 119.95
- Sell: 119.93 Take profit: 119.55
For the pound / yen pair, the key levels on the H1 scale are : 140.18, 139.34, 138.82, 137.44, 136.91 and 136.11. Here, we are following the downward cycle of February 21. Short-term downward movement is possibly in the range of 137.44 – 136.91. The breakdown of the latter value will allow us to count on movement to a potential target – 136.11. We expect a pullback to the top from this level.
Short-term upward movement is possibly in the range of 138.82 – 139.34. The breakdown of the latter value will lead to the development of an in-depth correction. Here, the goal is 140.18. This level is a key support for the downward cycle.
The main trend is the downward cycle of February 21.
Trading recommendations:
- Buy: 138.82 Take profit: 139.30
- Buy: 139.38 Take profit: 140.18
- Sell: 137.44 Take profit: 136.94
- Sell: 136.88 Take profit: 136.15
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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