Forecast for March 18:
Analytical review of currency pairs on the scale of H1:
For the euro / dollar pair, the key levels on the H1 scale are: 1.1202, 1.1114, 1.1065, 1.0988, 1.0942, 1.0851 and 1.0777. Here, we continue to monitor the development of the descending cycle of March 9. Short-term downward movement is expected in the range of 1.0988 – 1.0942.
The breakdown of the last value will lead to a pronounced downward movement. Here, the target is 1.0851. There is a high probability of a reversal to correction from this level. For the potential value for the bottom, we consider the level of 1.0777. Upon reaching this value, we expect a rollback to the top.
Short-term upward movement is expected in the range of 1.1065 – 1.1114. The breakdown of the latter value will lead to an in-depth correction. Here, the goal is 1.1202. This level is a key support for the downward structure.
The main trend is the downward trend on March 9
Trading recommendations:
- Buy: 1.1065 Take profit: 1.1112
- Buy: 1.1115 Take profit: 1.1200
- Sell: 1.0940 Take profit: 1.0854
- Sell: 1.0848 Take profit: 1.0778
For the pound / dollar pair, the key levels on the H1 scale are: 1.2410, 1.2267, 1.2174, 1.2051, 1.1920 and 1.1687. Here, we are following the development of the March 9 downward cycle. Short-term downward movement, as well as consolidation, are expected in the range of 1.2051 – 1.1920. Hence, there is a high probability of a reversal in the corrective movement. For the potential value for the bottom, we consider the level of 1.1687. We consider the movement to this value as unstable.
Short-term upward movement is possibly in the range of 1.2174 – 1.2267. The breakdown of the latter value will lead to an in-depth correction. Here, the target is 1.2410. This level is a key support for the downward structure.
The main trend is the downward trend on March 9
Trading recommendations:
- Buy: 1.2174 Take profit: 1.2265
- Buy: 1.2269 Take profit: 1.2410
- Sell: 1.2048 Take profit: 1.1922
- Sell: 1.1917 Take profit: 1.1690
For the dollar / franc pair, the key levels on the H1 scale are: 0.9779, 0.9686, 0.9641, 0.9570, 0.9518 and 0.9444. Here, we are following the development of the upward cycle of March 9. Short-term upward movement is expected in the range of 0.9641 – 0.9686. The breakdown of the last value should be accompanied by a pronounced upward movement. Here, the potential target is 0.9779. We expect a pullback to the bottom when this level is reached.
Short-term downward movement is possibly in the range of 0.9570 – 0.9518. The breakdown of the latter value will lead to an in-depth correction. Here, the target is 0.9444. This level is a key support for the top.
The main trend is the upward cycle of March 9
Trading recommendations:
- Buy : 0.9641 Take profit: 0.9685
- Buy : 0.9688 Take profit: 0.9775
- Sell: 0.9570 Take profit: 0.9520
- Sell: 0.9516 Take profit: 0.9445
For the dollar / yen pair, the key levels in the scale are : 111.11, 110.31, 108.96, 108.00, 106.60, 105.97 and 105.02. Here, we are following the development of the upward cycle of March 9. The continuation of the movement to the top is expected after the breakdown of the level of 108.00. In this case, the target is 108.96. Price consolidation is near this level.
The breakdown of the level of 108.96 will lead to the development of pronounced movement. Here, the goal is 110.31. For the potential value for the top, we consider the level of 111.11. Upon reaching this level, we expect consolidation, as well as a pullback to the bottom.
Short-term downward movement is possibly in the range of 106.60 – 105.97. The breakdown of the last value will lead to an in-depth correction. Here, the goal is 105.02. This level is a key support for the top.
Main trend: upward cycle of March 9
Trading recommendations:
- Buy: 108.00 Take profit: 108.92
- Buy : 108.98 Take profit: 110.30
- Sell: 106.60 Take profit: 106.00
- Sell: 105.95 Take profit: 105.08
For the Canadian dollar / US dollar pair, the key levels on the H1 scale are: 1.4484, 1.4417, 1.4313, 1.4241, 1.4123, 1.4039 and 1.3942. Here, we determined the subsequent goals for the top from the local ascending structure on March 13. Short-term upward movement is expected in the range of 1.4241 – 1.4313. The breakdown of the latter value will lead to a pronounced movement. Here, the target is 1.4417. For the potential value for the top, we consider the level of 1.4484. Upon reaching which, we expect consolidation, as well as a pullback to the bottom.
Short-term downward movement is possibly in the range of 1.4123 – 1.4039. The breakdown of the last value will lead to an in-depth correction. Here, the target is 1.3942. This level is a key support for the top.
The main trend is the local upward structure of March 13.
Trading recommendations:
- Buy: 1.4315 Take profit: 1.4416
- Buy : 1.4418 Take profit: 1.4484
- Sell: 1.4123 Take profit: 1.4040
- Sell: 1.4037 Take profit: 1.3944
For the Australian dollar / US dollar pair, the key levels on the H1 scale are : 0.6390, 0.6229, 0.6098, 0.5919, 0.5850 and 0.5706. Here, we continue to monitor the development of the descending cycle of March 9. The continuation of the movement to the bottom is expected after the price passes the noise range 0.5919 – 0.5850. In this case, the target is 0.5706. Upon reaching this level, we expect a pullback to the top.
Short-term upward movement is possibly in the range of 0.6098 – 0.6229. The breakdown of the latter value will lead to in-depth movement. Here, the target is 0.6390. This level is a key support for the downward structure and before it, we expect the initial conditions to be formed for the upward cycle.
The main trend is the descending structure of March 9
Trading recommendations:
- Buy: 0.6098 Take profit: 0.6225
- Buy: 0.6231 Take profit: 0.6390
- Sell : 0.5850 Take profit : 0.5710
- Sell: Take profit:
For the euro / yen pair, the key levels on the H1 scale are: 123.12, 122.21, 120.93, 119.85, 117.92, 117.11 and 116.27. Here, we are following the formation of the initial conditions for the upward cycle of March 12. The continuation of the movement to the top is expected after the breakdown of the level of 119.85. In this case, the target is 120.93. Price consolidation is near this level.
The breakdown of the level of 120.95 will lead to the development of pronounced movement. In this case, the goal is 122.21. For the potential value for the top, we consider the level of 12312. Upon reaching this level, we expect a pullback to the bottom.
Short-term downward movement is possibly in the range 117.92 – 117.11. The latter is a key support for the upward structure, its passage at the price will lead to movement to the first potential target – 116.27. We expect the initial conditions for the downward cycle to be formed when this level is reached.
The main trend is the formation of local initial conditions for the upward cycle of March 12
Trading recommendations:
- Buy: 119.85 Take profit: 120.90
- Buy: 120.95 Take profit: 122.20
- Sell: 177.88 Take profit: 117.15
- Sell: 117.06 Take profit: 116.28
For the pound / yen pair, the key levels on the H1 scale are : 134.33, 132.71, 131.72, 130.92, 128.47, 127.54, 126.26 and 125.53. Here, we are following the local descending structure of March 13. Short-term downward movement is expected in the range of 128.47 – 127.54. The breakdown of the last value should be accompanied by a pronounced movement to the level of 126.26. For the potential value for the bottom, we consider the level of 125.53. Upon reaching which, we expect a departure in the correction.
Short-term upward movement is possibly in the range of 130.92 – 131.72. The breakdown of the latter value will lead to in-depth movement. Here, the target is 132.71. This level is a key support for the downward trend.
The main trend is the formation of the local structure of March 13
Trading recommendations:
- Buy: 130.92 Take profit: 131.70
- Buy: 131.73 Take profit: 132.70
- Sell: 128.45 Take profit: 127.60
- Sell: 127.50 Take profit: 126.26
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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