Forecast for April 23:
Analytical review of currency pairs on the scale of H1:
For the euro / dollar pair, the key levels on the H1 scale are: 1.0945, 1.0908, 1.0867, 1.0843, 1.0800, 1.0753, 1.0718 and 1.0667. Here, we continue to monitor the development of the descending structure of April 14. The continuation of the downward movement is expected after the breakdown of the level of 1.0800. In this case, the target is 1.0753. Short-term downward movement, as well as consolidation is in the range of 1.0753 – 1.0718. For the potential value for the bottom, we consider the level of 1.0667. Upon reaching this level, we expect an upward pullback.
A short-term upward movement is possible in the range of 1.0843 – 1.0867. The breakdown of the last value will lead to an in-depth correction. Here, the target is 1.0908. This level is a key support for the downward structure and price passing this will lead to the formation of initial conditions for the top. Here, the potential target is 1.0945 .
The main trend is the descending structure of April 14.
Trading recommendations:
- Buy: 1.0843 Take profit: 1.0866
- Buy: 1.0869 Take profit: 1.0905
- Sell: 1.0800 Take profit: 1.0755
- Sell: 1.0751 Take profit: 1.0720
For the pound / dollar pair, the key levels on the H1 scale are: 1.2455, 1.2391, 1.2353, 1.2286, 1.2234, 1.2163 and 1.2123. Here, the price registered a small potential for the upward movement of April 21 in the correction of the downward structure. Short-term downward movement is expected in the range of 1.2286 – 1.2234. The breakdown of the last level will lead to the development of pronounced movement. Here, the goal is 1.2163. For the potential value for the bottom, we consider the level of 1.2123. Upon reaching which, we expect consolidation, as well as an upward pullback.
Short-term upward movement is possible in the range of 1.2353 – 1.2391. The breakdown of the last value will lead to an in-depth correction. Here, the target is 1.2455. This level is a key support for the downward structure.
The main trend is the downward cycle of April 14, the correction stage.
Trading recommendations:
- Buy: 1.2353 Take profit: 1.2390
- Buy: 1.2393 Take profit: 1.2455
- Sell: 1.2280 Take profit: 1.2240
- Sell: 1.2230 Take profit: 1.2165
For the dollar / franc pair, the key levels on the H1 scale are: 0.9850, 0.9810, 0.9781, 0.9740, 0.9700, 0.9674 and 0.9646. Here, we are following the development of the ascendant structure of April 14. The continuation of the upward movement is expected after the breakdown of the level of 0.9740. In this case, the target is 0.9781. Short-term upward movement, as well as consolidation is in the range of 0.9781 – 0.9810. For the potential value for the top, we consider the level of 0.9850. Upon reaching which, we expect a downward pullback.
A short-term downward movement is possible in the range of 0.9700 – 0.9674. The breakdown of the latter value will lead to an in-depth correction. Here, the target is 0.9646. This level is a key support for the top.
The main trend is the upward structure of April 14
Trading recommendations:
- Buy : 0.9742 Take profit: 0.9780
- Buy : 0.9783 Take profit: 0.9810
- Sell: 0.9700 Take profit: 0.9680
- Sell: 0.9672 Take profit: 0.9646
For the dollar / yen pair, the key levels on the scale are : 109.26, 108.96, 108.51, 108.16, 107.81, 107.35, 107.19 and 106.89. Here, we are following the initial conditions for the top of April 15. The resumption of upward movement is possible after the breakdown of the level of 107.81. In this case, the first target is 108.16. The breakdown of which, in turn, will allow us to count on the development of the upward cycle. Here, the goal is 108.51 and price consolidation is near this level. The breakdown of the level of 108.51 will lead to a pronounced upward movement. In this case, the target is 108.96. For the potential value for the bottom, we consider the level of 109.26. Upon reaching this level, we expect a downward pullback.
The range of 107.35 – 107.19 is a key support for the top and if the price overcomes this, it will lead to the development of a downward structure. In this case, the potential target is 106.89. We expect the initial conditions to be drawn up to this level.
The main trend: initial conditions for the top of April 15.
Trading recommendations:
- Buy: 107.81 Take profit: 108.14
- Buy : 108.16 Take profit: 108.50
- Sell: 107.19 Take profit: 106.90
- Sell: 106.85 Take profit: 106.50
For the Canadian dollar / US dollar pair, the key levels on the H1 scale are: 1.4484, 1.4398, 1.4327, 1.4251, 1.4158, 1.4106 and 1.4028. Here, we are following the development of the upward cycle of April 14. At the moment, the price is in the correction zone. The continuation of the upward movement is expected after the breakdown of the level of 1.4251. In this case, the target is 1.4327. Short-term upward movement is in the range of 1.4327 – 1.4398 and price consolidation is near the last level. For the potential value for the top, we consider the level of 1.4484. Upon reaching which, we expect a downward pullback.
A consolidated movement is possible in the range of 1.4158 – 1.4106. The breakdown of the last level will lead to a long correction. In this case, the target is 1.4028. This level is a key support for the top.
The main trend is the upward cycle of April 14, the correction stage
Trading recommendations:
- Buy: 1.4251 Take profit: 1.4325
- Buy : 1.4330 Take profit: 1.4395
- Sell: Take profit:
- Sell: 1.4104 Take profit: 1.4045
For the Australian dollar / US dollar pair, the key levels on the H1 scale are : 0.6443, 0.6399, 0.6368, 0.6287, 0.6247, 0.6223, 0.6163, 0.6120 and 0.6060. Here, we are following the formation of the initial conditions for the downward cycle of April 14. The continuation of the downward movement is expected after the breakdown of the level of 0.6287. In this case, the first target is 0.6247. Now, passage through the noise range 0.6247 – 0.6223, will lead to a pronounced movement to the level of 0.6163. A short-term downward movement, as well as consolidation is in the range of 0.6163 – 0.6120. For the potential value for the bottom, we consider the level 0.6060. Upon reaching which, we expect an upward pullback.
A short-term upward movement is possible in the range of 0.6368 – 0.6399. This range is a key support for the downward structure and its passage will lead to the development of the downward movement. In this case, the target is 0.6643.
The main trend is the formation of initial conditions for the downward cycle of April 14
Trading recommendations:
- Buy: 0.6368 Take profit: 0.6395
- Buy: 0.6400 Take profit: 0.6440
- Sell : 0.6287 Take profit : 0.6247
- Sell: 0.6220 Take profit: 0.6165
For the euro / yen pair, the key levels on the H1 scale are: 117.44, 116.94, 116.63, 116.02, 115.56, 114.95 and 114.55. Here, we are following the development of the downward structure of April 9. At the moment, the price is in the correction zone. Short-term downward movement is expected in the range of 116.02 – 115.56. The breakdown of the last value will lead to the development of the expressed movement. In this case, the target is 114.95. For the potential value for the bottom, we consider the level of 114.55. Upon reaching which, we expect consolidation, as well as an upward pullback.
A consolidated movement is possible in the range of 116.63 – 116.94. The breakdown of the last value will lead to an in-depth correction. Here, the goal is 117.44. This level is a key support for the downward structure.
The main trend is the descending structure of April 9
Trading recommendations:
- Buy: 116.96 Take profit: 117.40
- Sell: 116.00 Take profit: 115.58
- Sell: 115.54 Take profit: 114.95
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, we are following the development of the descending structure of April 14. 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 count on movement to 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 level 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
Trading recommendations:
- Buy: 133.40 Take profit: 133.75
- Buy: 133.80 Take profit: 134.30
- Sell: 132.50 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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