Forecast for March 19:
Analytical review of currency pairs on the scale of H1:
For the euro / dollar pair, the key levels on the H1 scale are: 1.1114, 1.1065, 1.0988, 1.0942, 1.0833, 1.0777 and 1.0707. Here, we continue to monitor the development of the downward cycle of March 9 and, mainly, we expect movement in the correction. Short-term downward movement is possibly in the range of 1.0833 – 1.0777. The breakdown of the latter value will allow us to expect movement to a potential value – 1.0707. We expect a pullback to the top when this level is reached.
Short-term upward movement is expected in the range of 1.0942 – 1.0988. The breakdown of the last value will lead to an in-depth correction. Here, the target is 1.1065. The range of 1.1065 – 1.1114 is a key support for the downward structure. We expect the top of the initial conditions to form for the upward cycle.
The main trend is a descending cycle of March 9, we expect the development of correction
Trading recommendations:
- Buy: 1.0942 Take profit: 1.0986
- Buy: 1.0990 Take profit: 1.1065
- Sell: 1.0833 Take profit: 1.0780
- Sell: 1.0775 Take profit: 1.0710
For the pound / dollar pair, the key levels on the H1 scale are: 1.2051, 1.1920 and 1.1687. Here, the price is near the limit values for the descending cycle of March 9, and therefore, we expect a rollback to the adjustment area and registration of the initial conditions for the upward cycle. The movement in the correction is expected after the breakdown of the level of 1.1687. In this case, the first goal is 1.1920. For the potential value, we consider the level of 1.2051, near which, we expect consolidation.
The main trend – we expect a correction
Trading recommendations:
- Buy: 1.1687 Take profit: 1.1920
- Buy: 1.1923 Take profit: 1.2050
- Sell: Take profit:
- Sell: Take profit:
For the dollar / franc pair, the key levels on the H1 scale are: 0.9914, 0.9843, 0.9779, 0.9641, 0.9570 and 0.9518. Here, we are following the development of the upward cycle of March 9. Short-term upward movement is expected in the range of 0.9779 – 0.9843. The breakdown of the latter value will allow us to count on movement to a potential target – 0.9914, when this level is reached, we expect a pullback to the bottom.
Departure for correction is expected after the breakdown of the level of 0.9640. In this case, the target is 0.9570. The range of 0.9570 – 0.9518 is a key support for the ascending structure, in which we expect the top of the initial conditions to form for the downward cycle.
The main trend is the upward cycle of March 9
Trading recommendations:
- Buy : 0.9780 Take profit: 0.9840
- Buy : 0.9845 Take profit: 0.9914
- Sell: 0.9636 Take profit: 0.9570
- Sell: 0.9570 Take profit: 0.9518
For the dollar / yen pair, the key levels on the scale are : 112.85, 111.11, 110.31, 108.80. 108.00 and 106.60. Here, we are following the development of the upward cycle of March 9. Short-term upward movement is expected in the range of 110.31 – 111.11. The breakdown of the last value should be accompanied by a pronounced upward movement. Here, the potential target is 112.85. When this level is reached, we expect a pullback to the bottom.
Short-term downward movement is possibly in the range of 108.80 – 108.00. The breakdown of the last value will lead to an in-depth correction. Here, the goal is 106.60. This level is a key support for the top.
Main trend: upward cycle of March 9
Trading recommendations:
- Buy: 110.31 Take profit: 111.10
- Buy : 111.20 Take profit: 112.85
- Sell: 108.80 Take profit: 108.00
- Sell: 107.98 Take profit: 106.60
For the Canadian dollar / US dollar pair, the key levels on the H1 scale are: 1.5012, 1.4814, 1.4707, 1.4561, 1.4484 and 1.4376. Here, we are following the upward cycle of March 13. Short-term upward movement is expected in the range of 1.4707 – 1.4814; hence, there is a high probability of leaving the correction zone. The breakdown of the level of 1.4814 will lead to a movement to a potential value of 1.5012.
Short-term downward movement is possibly in the range of 1.4561 – 1.4484. The breakdown of the latter value will lead to an in-depth correction. Here, the target is 1.4376. This level is a key support for the top.
The main trend is the local upward structure of March 13.
Trading recommendations:
- Buy: 1.4707 Take profit: 1.4812
- Buy : 1.4816 Take profit: 1.5010
- Sell: 1.4560 Take profit: 1.4484
- Sell: 1.4482 Take profit: 1.4376
For the Australian dollar / US dollar pair, key levels on the H1 scale are : 0.6049, 0.5850 and 0.5706. Here, the price has passed the limit values for the downward cycle of March 9, and therefore, we expect a return to the correction area.
Short-term upward movement is expected in the range of 0.5706 – 0.5850. The breakdown of the latter value will allow us to count on movement to a potential target – 0.6049. We expect the initial conditions for an upward cycle to be formed to this level.
The main trend – we expect a correction
Trading recommendations:
- Buy: 0.5706 Take profit: 0.5850
- Buy: 0.5855 Take profit: 0.6049
For the euro / yen pair, the key levels on the H1 scale are: 123.12, 122.21, 120.93, 119.85, 117.92, 117.11 and 116.27. Here, we are following the formation of the initial conditions for the upward cycle of March 12. The continuation of the movement to the top is expected after the breakdown of the level of 119.85. In this case, the target is 120.93. Price consolidation is near this level.
The breakdown of the level of 120.95 will lead to the development of pronounced movement. In this case, the goal is 122.21. For the potential value for the top, we consider the level of 12312. Upon reaching this value, we expect a pullback to the bottom.
Short-term downward movement is possibly in the range of 117.92 – 117.11. The latter is a key support for the upward structure. Its passage at the price will lead to the movement to the first potential target – 116.27. We expect the initial conditions for the downward cycle to be formed to this level.
The main trend is the formation of local initial conditions for the upward cycle of March 12
Trading recommendations:
- Buy: 119.85 Take profit: 120.90
- Buy: 120.95 Take profit: 122.20
- Sell: 177.88 Take profit: 117.15
- Sell: 117.06 Take profit: 116.28
For the pound / yen pair, the key levels on the H1 scale are : 130.92, 128.47, 126.89, 124.64, 123.32, 121.28 and 119.94. Here, we are following the local descending structure of March 13. Short-term downward movement is expected in the range of 124.64 – 123.32. The breakdown of the last value should be accompanied by a pronounced movement to the level of 121.28. For the potential value for the bottom, we consider the level of 119.94. Upon reaching which, we expect a departure in the correction.
Short-term upward movement is possibly in the range of 126.89 – 128.47. The breakdown of the latter value will lead to in-depth movement. Here, the target is 130.92. This level is a key support for the downward trend.
The main trend is the descending structure of March 13
Trading recommendations:
- Buy: 126.90 Take profit: 128.45
- Buy: 128.50 Take profit: 130.90
- Sell: 124.64 Take profit: 123.32
- Sell: 123.28 Take profit: 121.28
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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