Forecast for April 9:
Analytical review of currency pairs on the scale of H1:
For the euro / dollar pair, the key levels on the H1 scale are: 1.0978, 1.0916, 1.0876, 1.0791, 1.0761, 1.0704 and 1.0622. Here, we are following the development of the descending structure of March 27. At the moment, the price has formed a pronounced potential for the upward cycle of April 6. The continuation of movement to the bottom is expected after the price passes the noise range 1.0791 – 1.0761. In this case, the target is 1.0704, wherein price consolidation is near this level. For the potential value for the bottom, we consider the level of 1.0622. Upon reaching which, we expect a pullback to the top.
Short-term upward movement is possible in the range of 1.0876 – 1.0916. The breakdown of the last value will lead to an in-depth correction. Here, the target is 1.0978. This level is a key support for the downward structure.
The main trend is the descending structure of March 27, the formation of potential for the top of April 6
Trading recommendations:
- Buy: 1.0876 Take profit: 1.0914
- Buy: 1.0918 Take profit: 1.0978
- Sell: 1.0760 Take profit: 1.0705
- Sell: 1.0702 Take profit: 1.0622
For the pound / dollar pair, the key levels on the H1 scale are: 1.2694, 1.2609, 1.2550, 1.2467, 1.2411, 1.2317, 1.2248, 1.2158 and 1.2003. Here, the price registered a local upward structure from April 7 to continue the development of the main trend. The continuation of the movement to the top is expected after the price passes the noise range 1.2411 – 1.2467. In this case, the target is 1.2550. Short-term upward movement, as well as consolidation is in the range of 1.2550 – 1.2609. For the potential value for the top, we consider the level of 1.2694. Upon reaching this level, we expect a pullback to the bottom.
Short-term downward movement is possibly in the range of 1.2317 – 1.2248. The breakdown of the latter value will lead to the formation of a downward structure. In this case, the first target is 1.2158. For the potential value for the bottom, we consider the level of 1.2003. The movement to which is expected after the breakdown of the level of 1.2155.
The main trend is the local upward structure of April 7
Trading recommendations:
- Buy: 1.2468 Take profit: 1.2550
- Buy: 1.2610 Take profit: 1.2694
- Sell: 1.2317 Take profit: 1.2250
- Sell: 1.2246 Take profit: 1.2158
For the dollar / franc pair, the key levels on the H1 scale are: 0.9954, 0.9916, 0.9851, 0.9806, 0.9762, 0.9675, 0.9644, 0.9599 and 0.9569. At the moment, the price is in correction from the downward structure on March 30 and forms the potential for the downward cycle of April 6. The continuation of the movement to the top is expected after the breakdown of the level of 0.9762. In this case, the first target is 0.9806.
The breakdown of which, in turn, will lead to the movement to the level of 0.9851, wherein price consolidation is near this level. The passage at the price of 0.9851 should be accompanied by a pronounced upward movement. Here, the goal is 0.9916. For the potential value for the top, we consider the level of 0.9954. Upon reaching which, a pullback to the bottom is expected.
The development of the descending structure of April 6 is expected after the breakdown of the level of 0.9675. In this case, the first target is 0.9644. The breakdown of the latter should be accompanied by a pronounced movement to the level of 0.9599. For the potential value for the bottom, we consider the level of 0.9569. A rollback to the top is expected from this level.
The main trend is the upward structure of March 30, the formation of potential for the downward cycle of April 6
Trading recommendations:
- Buy : 0.9764 Take profit: 0.9804
- Buy : 0.9806 Take profit: 0.9850
- Sell: 0.9675 Take profit: 0.9645
- Sell: 0.9642 Take profit: 0.9600
For the dollar / yen pair, the key levels on the scale are : 111.11, 110.45, 109.99, 109.32, 108.70, 108.17, 107.58 and 106.88. Here, we are following the formation of the ascending structure of April 1. The continuation of the movement to the top is expected after the breakdown of the level of 109.32. In this case, the target is 109.99. Upon reaching this level, a short-term upward movement, as well as consolidation in the range of 109.99 – 110.45 is expected. For the potential value for the top, we consider the level of 111.11. Upon reaching this level, a pullback to the bottom is expected.
Short-term downward movement is possibly in the range of 108.70 – 108.17. The breakdown of the last value will lead to an in-depth correction. Here, the goal is 107.58. This level is a key support for the upward structure.
The main trend: the downward structure of March 25, the formation of potential for the top of April 1.
Trading recommendations:
- Buy: 109.32 Take profit: 109.97
- Buy : 110.00 Take profit: 110.45
- Sell: 108.70 Take profit: 108.20
- Sell: 108.15 Take profit: 107.70
For the Canadian dollar / US dollar pair, the key levels on the H1 scale are: 1.4220, 1.4147, 1.4090, 1.3933, 1.3883, 1.3760 and 1.3670. Here, the subsequent targets on the H1 scale can be determined from the descending structure on March 31. The continuation of movement to the bottom is expected after the price passes the noise range of 1.3933 – 1.3883. In this case, the target is 1.3760. Price consolidation is near this level. For the potential value for the bottom, we consider the level of 1.3670. Upon reaching which, a pullback to the top is expected.
Short-term upward movement is possibly in the range of 1.4090 – 1.4147. The breakdown of the latter value will lead to an in-depth correction. Here, the target is 1.4220. This level is a key support for the downward cycle.
The main trend is the downward cycle of March 31.
Trading recommendations:
- Buy: 1.4090 Take profit: 1.4145
- Buy : 1.4150 Take profit: 1.4220
- Sell: 1.3883 Take profit: 1.3764
- Sell: 1.3760 Take profit: 1.3670
For the Australian dollar / US dollar pair, the key levels on the H1 scale are : 0.6596, 0.6511, 0.6352, 0.6241, 0.6031, 0.5935 and 0.5779. Here, we are following the development of the upward cycle of March 19. On the other hand, short-term upward movement is expected in the range of 0.6241 – 0.6352. The breakdown of the level of 0.6352 will lead to a pronounced upward movement. Here, the potential target is 0.6595. Price consolidation is in the range of 0.6595 – 0.6511, hence, a correction is also expected.
Short-term downward movement is possibly in the range of 0.6031 – 0.5935. The breakdown of the last value will lead to an in-depth correction. Here, the target is 0.5779. This level is a key support for the top.
The main trend is the upward structure of March 19
Trading recommendations:
- Buy: 0.6241 Take profit: 0.6350
- Buy: 0.6354 Take profit: 0.6511
- Sell : 0.6030 Take profit : 0.5935
- Sell: 0.5933 Take profit: 0.5780
For the euro / yen pair, the key levels on the H1 scale are: 121.07, 120.30, 119.76, 119.05, 117.83, 117.28, 116.35 and 115.23. Here, we are following the initial conditions for the upward cycle of April 2. The continuation of the movement to the top is expected after the breakdown of the level of 119.05. In this case, the target is 119.76. Short-term upward movement, as well as consolidation is in the range of 119.76 – 120.30. We consider the level 121.07 to be a potential value for the upward trend. Upon reaching this level, we expect a pullback to the bottom.
Short-term downward movement is possibly in the range of 117.83 – 117.28. The breakdown of the latter value will lead to the development of a downward trend. Here, the goal is 116.35. For the potential value for the bottom, we consider the level of 115.23. The movement to which is expected after the breakdown of the level of 116.30.
The main trend is the initial conditions for the top of April 2
Trading recommendations:
- Buy: 119.05 Take profit: 119.76
- Buy: 119.78 Take profit: 120.30
- Sell: 117.83 Take profit: 117.30
- Sell: 117.25 Take profit: 116.50
For the pound / yen pair, the key levels on the H1 scale are : 140.54, 138.12, 136.99, 133.93, 132.94, 131.58 and 129.78. Here, we are following the development of the upward cycle of March 18. At the moment, a movement to the level of 136.99 is expected. Meanwhile, short-term upward movement, as well as consolidation is in the range of 136.99 – 138.12. For the potential value for the top, we consider the level of 140.54. The movement to which is possible after the breakdown of the level of 138.20.
Short-term downward movement is possibly in the range of 133.93 – 132.94. The breakdown of the latter value will lead to in-depth movement. Here, the goal is 131.58. This level is a key support for the upward structure. Its passage in price will lead to the formation of initial conditions for the downward cycle. In this case, the potential target is 129.78.
The main trend is the upward cycle of March 18
Trading recommendations:
- Buy: 135.45 Take profit: 136.94
- Buy: 137.00 Take profit: 138.10
- Sell: 133.93 Take profit: 132.96
- Sell: 132.92 Take profit: 131.60
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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