Forecast for April 24:
Analytical review of currency pairs on the scale of H1:
For the euro / dollar pair, the key levels on the H1 scale are: 1.0875, 1.0827, 1.0800, 1.0753, 1.0718, 1.0667 and 1.0639. Here, we continue to monitor the development of the descending structure of April 14. Short-term downward movement is expected in the range of 1.0753 – 1.0718. The breakdown of the last level will lead to a pronounced movement. Here, the target is 1.0667. For the potential value for the bottom, we consider the level of 1.0639. Upon reaching which, we expect a pullback to the top.
A short-term upward movement is possible in the range of 1.0800 – 1.0827. The breakdown of the last level will lead to an in-depth correction. Here, the target is 1.0875. This level is a key support for the downward structure.
The main trend is the descending structure of April 14.
Trading recommendations:
- Buy: 1.0800 Take profit: 1.0825
- Buy: 1.0830 Take profit: 1.0875
- Sell: 1.0750 Take profit: 1.0720
- Sell: 1.0716 Take profit: 1.0670
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 latter value 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.
A 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: 0.9874, 0.9850, 0.9810, 0.9781, 0.9742, 0.9721 and 0.9693. Here, we are following the development of the ascendant structure of April 14. Short-term upward movement is expected in the range of 0.9781 – 0.9810. The breakdown of the last level should be accompanied by a pronounced upward movement. In this case, the target is 0.9850. For the potential value for the top, we consider the level of 0.9874. Upon reaching which, we expect consolidation, as well as a pullback to the correction.
Short-term downward movement is possible in the range of 0.9742 – 0.9721. The breakdown of the last level will lead to an in-depth correction. Here, the target is 0.9693. This level is a key support for the top.
The main trend is the upward structure of April 14
Trading recommendations:
- Buy : 0.9781 Take profit: 0.9808
- Buy : 0.9814 Take profit: 0.9850
- Sell: 0.9742 Take profit: 0.9724
- Sell: 0.9719 Take profit: 0.9700
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: 1.4266, 1.4205, 1.4158, 1.4121, 1.3997, 1.3958, 1.3904, 1.3866 and 1.3797. Here, we are following the development of the descending structure of April 21. Short-term downward movement is expected in the range of 1.3997 – 1.3958. The breakdown of the last value should be accompanied by a pronounced downward movement to the level of 1.3904. In turn, price consolidation is in the range of 1.3904 – 1.3866. For the potential value for the bottom, we consider the level of 1.3797. Upon reaching this level, we expect a pullback to the correction.
Short-term upward movement is possible in the range of 1.4121 – 1.4158. The breakdown of the last value will lead to a prolonged correction. In this case, the goal is 1.4205. This level is a key support for the descending structure of April 21 and if the price passes through, it will lead to the formation of initial conditions for the upward cycle. In this case, the potential target is 1.4266.
The main trend is the descending structure of April 21
Trading recommendations:
- Buy: 1.4121 Take profit: 1.4156
- Buy : 1.4160 Take profit: 1.4205
- Sell: 1.3997 Take profit: 1.3960
- Sell: 1.3955 Take profit: 1.3905
For the Australian dollar / US dollar pair, the key levels on the H1 scale are : 0.6504, 0.6447, 0.6422, 0.6387, 0.6320, 0.6287, 0.6247, 0.6223 and 0.6163. Here, the price registered the upward potential of April 21. The continuation of the upward movement is expected after the breakdown of the level of 0.6387. In this case, the target is 0.6422. The price passing the noise range of 0.6422 – 0.6447 will allow you to count on movement to a potential target – 0.6504. Price consolidation is near this level.
A short-term downward movement is possible in the range of 0.6320 – 0.6287. The breakdown of the last level will favor the development of a downward structure. Here, the first goal is 0.6247. For the potential value for the bottom, we consider the level of 0.6163, movement to which is expected after the price passes the noise range of 0.6247 – 0.6223.
The main trend is the upward structure of April 21
Trading recommendations:
- Buy: 0.6388 Take profit: 0.6422
- Buy: 0.6448 Take profit: 0.6504
- Sell : 0.6320 Take profit : 0.6288
- Sell: 0.6285 Take profit: 0.6248
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 determine the subsequent goals for the downward movement from the local structure on April 22. Short-term downward movement is possible in the range of 115.56 – 115.18. The breakdown of the last value 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.
Short-term upward movement is possible in the range of 116.11 – 116.35. The breakdown of the last level will lead to an in-depth correction. Here, the goal is 116.72. This level is a key support for the downward structure.
The main trend is the local descending structure of April 22
Trading recommendations:
- Buy: 116.11 Take profit: 116.35
- Buy: 116.38 Take profit: 116.72
- 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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