Forecast for April 29:
Analytical review of currency pairs on the scale of H1:
For the euro / dollar pair, the key levels on the H1 scale are: 1.0996, 1.0948, 1.0913, 1.0887, 1.0830, 1.0807 and 1.0776. Here, we are following the development of the ascending structure of April 24. We expect a short-term upward movement, as well as consolidation in the range of 1.0887 – 1.0913. Breaking through the level of 1.0913 should be accompanied by a pronounced upward movement. Here, the target is 1.0948. For the potential value for the top, we consider the level of 1.0969. Upon reaching which, we expect consolidation, as well as a downward pullback.
A short-term downward movement is possible in the range between 1.0830 – 1.0807. The breakdown of the last level will lead to an in-depth correction. Here, the target is 1.0776. This level is a key support for the top.
The main trend is the formation of the ascending structure of April 24.
Trading recommendations:
- Buy: 1.0888 Take profit: 1.0910
- Buy: 1.0915 Take profit: 1.0948
- Sell: 1.0830 Take profit: 1.0810
- Sell: 1.0805 Take profit: 1.0780
For the pound / dollar pair, the key levels on the H1 scale are: 1.2594, 1.2563, 1.2514, 1.2479, 1.2413, 1.2381 and 1.2333. Here, we are following the development of the ascending structure of April 21. Short-term upward movement is expected in the range of 1.2479 – 1.2514. The breakdown of the last level should be accompanied by a pronounced upward movement. Here, the target is 1.2563. For the potential value for the top, we consider the level of 1.2594. Upon reaching which, we expect consolidation and a downward pullback.
A short-term downward movement is possible in the range of 1.2413 – 1.2381. The breakdown of the last level will lead to an in-depth correction. Here, the target is 1.2333. This level is a key support for the upward structure.
The main trend is the upward structure of April 21
Trading recommendations:
- Buy: 1.2480 Take profit: 1.2512
- Buy: 1.2516 Take profit: 1.2563
- Sell: 1.2413 Take profit: 1.2383
- Sell: 1.2378 Take profit: 1.2335
For the dollar / franc pair, the key levels on the H1 scale are: 0.9800, 0.9770, 0.9757, 0.9739, 0.9712, 0.9688, 0.9658, 0.9636 and 0.9607. Here, we are following the formation of the descending structure of April 28. Short-term downward movement is expected in the range of 0.9712 – 0.9688. The breakdown of the last level will lead to a pronounced downward movement. Here, the target is 0.9658 and price consolidation is in the range of 0.9658 – 0.9636. For the potential value for the bottom, we consider the level of 0.9607. Upon reaching which, we expect consolidation, as well as an upward pullback.
Short-term upward movement is possible in the range of 0.9739 – 0.9757. The range of 0.9757 – 0.9770 is the key support for the descending structure of April 28 and price passing through this will favor the formation of the ascending structure. In this case, the target is 0.9800.
The main trend is the descending structure of April 28
Trading recommendations:
- Buy : 0.9740 Take profit: 0.9757
- Buy : 0.9772 Take profit: 0.9800
- Sell: 0.9712 Take profit: 0.9690
- Sell: 0.9685 Take profit: 0.9660
For the dollar / yen pair, the key levels on the scale are : 107.02, 106.74, 106.60, 106.35, 106.06 and 105.88. Here, we are following the development of the downward cycle of April 17. The continuation of the downward movement is expected after the breakdown of the level of 106.35. In this case, the goal is 106.06. For the potential value for the bottom, we consider the level of 105.88. Upon reaching which, we expect consolidation, as well as an upward pullback.
A short-term upward movement is possible in the range of 106.60 – 106.74. The breakdown of the last level will lead to an in-depth correction. Here, the goal is 107.02. This level is a key support for the downward cycle.
The main trend is the downward cycle of April 17.
Trading recommendations:
- Buy: 106.60 Take profit: 106.74
- Buy : 106.76 Take profit: 107.00
- Sell: 106.35 Take profit: 106.08
- Sell: 106.04 Take profit: 105.90
For the Canadian dollar / US dollar pair, the key levels on the H1 scale are: 1.4060, 1.3997, 1.3958, 1.3904, 1.3866, 1.3797 and 1.3749. Here, we are following the development of the descending structure of April 21. Short-term downward movement is expected in the range of 1.3904 – 1.3866. The breakdown of the last level should be accompanied by a pronounced downward movement to the level of 1.3797. Short-term downward movement, as well as consolidation is in the range of 1.3797 – 1.3749.
A short-term upward movement is possible in the range of 1.3958 – 1.3997. The breakdown of the last value will lead to a long correction. In this case, the target is 1.4060. This level is a key support for the descending structure of April 21.
The main trend is the descending structure of April 21.
Trading recommendations:
- Buy: 1.3958 Take profit: 1.3997
- Buy : 1.4007 Take profit: 1.4060
- Sell: 1.3904 Take profit: 1.3868
- Sell: 1.3864 Take profit: 1.3800
For the Australian dollar / US dollar pair, the key levels on the H1 scale are : 0.6625, 0.6586, 0.6551, 0.6504, 0.6453 and 0.6411. Here, we are following the development of the ascending structure of April 21. A short-term upward movement is expected in the range between 0.6551 – 0.6586. Now, the breakdown of the last level will lead to movement to a potential target – 0.6625. A downward pullback from this level is expected.
A correction is expected after the breakdown of the level of 0.6504. Here, the target is 0.6455. The breakdown of which will lead to in-depth movement. In this case, the target is 0.6411. This level is a key support for the top.
The main trend is the upward structure of April 21
Trading recommendations:
- Buy: 0.6551 Take profit: 0.6584
- Buy: 0.6588 Take profit: 0.6625
- Sell : 0.6502 Take profit : 0.6460
- Sell: 0.6450 Take profit: 0.6413
For the euro / yen pair, the key levels on the H1 scale are: 117.25, 116.72, 116.35, 116.11, 115.56, 115.18, 114.55 and 114.21. Here, we are following the formation of a local descending structure of April 22. Short-term downward movement is possible in the range of 115.56 – 115.18. The breakdown of the last level should be accompanied by a pronounced downward movement. In this case, the target is 114.55. For the potential value for the bottom, we consider the level of 114.21. Upon reaching which, we expect consolidation, as well as an upward pullback.
A short-term upward movement is possible in the range of 116.35 – 116.72. The breakdown of the last level will have the formation of an ascending structure. Here, the potential target is 117.25.
The main trend is the local descending structure of April 22.
Trading recommendations:
- Buy: 116.35 Take profit: 116.70
- Buy: 116.74 Take profit: 117.25
- Sell: 115.55 Take profit: 115.20
- Sell: 115.15 Take profit: 114.58
For the pound / yen pair, the key levels on the H1 scale are : 134.33, 133.77, 133.39, 132.52, 132.02, 131.43, 131.05 and 130.32. Here, the price registered the expressed potential for the upward movement of April 21 in the correction of the downward structure. The continuation of the downward movement is expected after the breakdown of the level of 132.52. In this case, the first goal is 132.02. The breakdown of which, in turn, will allow us to move to the level of 131.43. A short-term downward movement, as well as consolidation is in the range of 131.43 – 131.05. For the potential value for the bottom, we consider the level of 130.32. Upon reaching which, we expect an upward pullback.
A short-term upward movement is possible in the range of 133.39 – 133.77. The breakdown of the last value will lead to an in-depth correction. Here, the goal is 134.33. This level is a key support for the downward cycle.
The main trend is the downward cycle of April 14, the correction stage.
Trading recommendations:
- Buy: 133.40 Take profit: 133.75
- Buy: 133.80 Take profit: 134.30
- Sell: 132.45 Take profit: 132.05
- Sell: 131.98 Take profit: 131.45
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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