Hello, dear Traders…
The EUR/USD pair may develop an upward trend if it passes the range of 1.0951 – 1.0971. The 1.0876 level is key support.
The GBP/USD pair is expected to continue to rise after the breakdown of 1.2610. The 1.2463 level is the key support.
The USD/CHF pair is likely to decline after the breakout of 0.9644. The 0.9701 level is key support.
The USD/JPY pair continues to move downward when the price breaks through the range of 107.52 – 107.37. The107.97 level is the key support.
The EUR/JPY pair is expected to gain momentum after the breakdown of 119.05. The 117.28 level is the key support.
The GBP/JPY pair may develop an upward trend started on April 3 if it breaks through 135.86, the 133.93 level is key support.
Outlook for April 14:
Analytical review of currency pairs on the H1 scale:
For the euro/dollar pair, the key levels on the H1 scale are 1.1123, 1.1070, 1.1031, 1.0971, 1.0951, 1.0904, 1.0876, and 1.0826. Here we can observe the development of the ascending structure from April 6. We expect the upward movement to continue after the price breaks through the range of 1.0951 – 1.0971. In this case, the goal is 1.1031, a short-term upward movement can be expected on these1.1031 – 1.1070 levels, as well as consolidation. The potential target is the level of 1.1223. If the pair reaches this level, we expect a pullback to the bottom.
A short-term downward movement is possible in the range of 1.0904 – 1.0876, a breakdown of the last target will lead to a deep correction. Here the target is 1.0826; this level is key support for the ascending structure.
The main trend is the development of the ascending structure from April 6.
Trading recommendation:
- Buy: 1.0971 Take profit: 1.1030
- Buy: 1.1033 Take profit: 1.1068
- Sell: 1.0904 Take profit: 1.0877
- Sell: 1.0874 Take profit: 1.0830
For the pound /dollar pair, the key levels on the H1 scale are 1.2840, 1.2739, 1.2694, 1.2609, 1.2521, 1.246, and 1.2380. Here, we are awaiting the development of the upward cycle from April 7. We expect the upward movement to continue after the breakout of 1.2610. In this case, the target level is 1.2694 where 1.2694 – 1.2739 levels may be the possible consolidation. We assume that the level 1.2840 could be a potential target in case of an upward movement. The pair is highly likely to climb to this level if it overcomes 1.2740.
A short-term downward movement is possible in the range of 1.2521 – 1.2463, a breakdown of this level will lead to a deep correction. Here the target level is 1.2380. This level is key support for the pair if it resumes an upward movement.
The main trend is an upward structure from April 7
Trading recommendation:
- Buy: 1.2610 Take profit: 1.2694
- Buy: 1.2740 Take profit: 1.2840
- Sell: 1.2521 Take profit: 1.2465
- Sell: 1.2460 Take profit: 1.2380
For the US dollar /Swiss franc pair, the key levels on the H1 scale are 0.9729, 0.9701, 0.9679, 0.9644, 0.9599, 0.9569, and 0.9530. Here, we watch the development of the downward structure from April 6. The pair will continue its downward movement, if it breaks through 0.9644. In this case, the goal is 0.9599. The pair may develop short – term downward movement from the 0.9599 – 0.9569 short – term downward movement. These levels may also be consolidation. The potential value for the bottom is 0.9530. After the pair reaches this level, we expect the pair to grow.
We expect a short-term upward movement in the range of 0.9679 – 0.9701 as the breakdown of the last value will lead to a deep correction. Here the target level is 0.9729. This level is key support for the descending structure.
The main trend is the downward structure from April 6
Trading recommendation:
- Buy: 0.9680 Take profit: 0.9700
- Buy: 0.9703 Take profit: 0.9727
- Sell: 0.9642 Take profit: 0.9600
- Sell: 0.9597 Take profit: 0.9573
For US dollars/yen pair, the key levels on the H1 scale are 108.28, 107.97, 107.78, 107.52, 107.37, 107.08, 106.70, and 106.46. Here, we follow the development of the downward structure from April 6. We expect the downward movement to continue if the price breaks through the range of 107.52 – 107.37. In this case, the target level is 107.08. Near this level, the pair may well consolidate. If so, it will lead to a downward movement. Here the target level is 106.70. The potential value for the bottom may be the 106.46 level. If the pair advances to this level, we expect consolidation and a pullback.
A short-term upward movement is possible in the range of107.78 – 107.97. A breakdown of the last value will lead to a deep correction. Here the target level is 108.28. This level is key support for the descending structure.
The main trend is the descending pattern from April 4
Trading recommendation:
- Buy: 107.78 Take profit: 107.95
- Buy: 108.00 Take profit: 108.28
- Sell: 107.35 Take profit: 107.08
- Sell: 107.06 Take profit: 106.70
For the Canadian dollar/US Dollar pair, the key levels on the H1 scale are 1.4088, 1.3999, 1.3932, 1.3760, and 1.3670. Here, we continue to monitor the downward structure from March 31. Now, we expect an uptick to the level of 1.3760. The 1.3670 may be the potential bottom. Near this level, we expect consolidation as well as a pullback.
A short-term upward movement is possible in the range of 1.3932 – 1.3999, a breakdown of the last value will lead to a deep correction. Here the target is 1.4088. This level is key support for the downward cycle.
The main trend is the downward cycle from March 31
Trading recommendation:
- Buy: 1.3932 Take profit: 1.3997
- Buy: 1.4000 Take profit: 1.4085
- Sell: 1.3850 Take profit: 1.3764
- Sell: 1.3756 Take profit: 1.3670
For the Australian dollar /US dollar pair, the key levels on the H1 scale are 0.6684, 0.6582, 0.6528, 0.6443, 0.6349, 0.6289, and 0.6206. Here, the pair continues to follow the upward structure from April 3. We expect the upward movement to remain in force after the breakout of 0.6443. In this case, the goal is 0.6528. A short-term upward movement, as well as consolidation, may occur in the range of 0.6528 – 0.6582. We consider the level 0.6684 as a potential value for the top, and we expect a pullback to the bottom when the pair breaks this level.
A short-term downward movement is possible in the range of 0.6349 – 0.6289. A breakdown of the last value will lead to a deep correction. Here the target is 0.6206. This level is key support for the top.
The main trend is an upward structure from April 3
Trading recommendation:
- Buy: 0.6445 Take profit: 0.6528
- Buy: 0.6530 Take profit: 0.6580
- Sell: 0.6349 Take profit: 0.6292
- Sell: 0.6286 Take profit: 0.6210
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 follow the initial conditions for the upward cycle from April 2. We expect a continuation of the upward movement after the breakdown of 119.05. In this case. The target level is 119.76. A short-term upward movement, as well as consolidation, may occur in the range of 119.76 – 120.30. The potential value for upward trend could be the level of 121.07. If the pair passes this level, it may reverse to the bottom.
A short-term downward movement is possible in the range of 117.83 – 117.28. A breakdown of the last value could lead to the development of a downward trend. Here the target level is 116.35. The potential value for the bottom might be the level of 115.23. The pair may well climb to this level if it breaks through the level of 116.30.
The main trend is the initial conditions for the top from April 2
Trading recommendation:
- 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 137.93, 137.49, 136.66, 135.86, 134.61, 133.93, 133.37, and 132.29. We suppose that the next targets for the top can be determined from the ascending structure on April 3. We expect the continuation of the upward trend after the breakout of 135.86. In this case, the target level is 136.66. In this range, the pair may consolidate. If the pair breaks the level of 136.66, it will resume an upward movement. Here the target level is 137.93. It may also enter the consolidation phase and consolidate in the range of 137.93 – 137.49.
A short-term downward movement is possible in the range of 134.61-133.93. The range of 133.93-133.37 is key support for the ascending structure from April 3. If the price breaks these levels, it will lead to the formation of a descending structure. In this case, the potential target is 132.29.
The main trend is an upward structure from April 3
Trading recommendation:
- Buy: 135.86 Take profit: 136.60
- Buy: 136.70 Take profit: 137.49
- Sell: 134.60 Take profit: 134.00
- Sell: 133.90 Take profit: 133.40
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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