FX.co ★ Fractal analysis for major currency pairs as of December 13

Dear colleagues.

For the EUR / USD pair, the continuation of the downward movement is expected after the breakdown of 1.1723. For the of GBP / USD pair, the continuation of the downward movement is expected after passing the price of the noise range of 1.3315 - 1.3290. For the USD / CHF pair, the price is close to the key support for the top at 0.9891. The level of 0.9970 is the key resistance. For the USD / JPY pair, the continuation of the upward movement is expected after passing the price of the noise range of 113.49 - 113.79. For the of EUR / JPY pair, the continuation of the upward movement is expected after the breakdown of 134.05. For the GBP / JPY pair, the price is in the area of key support for the upward structure of December 6 at the area of 151.66 - 150.88.

Forecast for December 13:

Analytical review of currency pairs in the scale of H1:

For the EUR / USD pair, the key levels on the scale of H1 are: 1.1857, 1.1817, 1.1793, 1.1723, 1.1688 and 1.1639. Here, we continue to follow the downward cycle from December 7. Continued downward movement is expected after the breakdown 1.1723. In this case, the target is 1.1688. In the area of 1.1723 - 1.1688 is the consolidation of the price. The breakdown of the level of 1.1688 will allow us to count on the movement towards the potential target of 1.1639, upon reaching which, we expect the departure to correction.

Short-term upward movement is possible in the area of 1.1793-1.1817. The breakdown of the last value will lead to in-depth correction. Here, the target is 1.1855. This level is the key support for the downward structure. Passing this price will lead to the formation of an upward structure. Here, the target is 1.1909.

The main trend is the downward cycle from November 27.

Trading recommendations:

Buy: 1.1793 Take profit: 1.1815

Buy: 1.1820 Take profit: 1.1855

Sell: 1.1720 Take profit: 1.1690

Sell: 1.1685 Take profit: 1.1640

For the GBP / USD pair, the key levels on the scale of H1 are: 1.3438, 1.3398, 1.3367, 1.3315, 1.3290, 1.3231, 1.3187 and 1.3125. Here, we follow the local top-down structure of December 8. Continued downward movement is expected after passing the price of the noise range of 1.3315 - 1.3290. In this case, the target is 1.3231. The breakdown of this level will allow us to count on the movement towards the level of 1.3187. Near this level, we expect the consolidation of the price. The potential value for the bottom is the level of 1.3125, upon reaching which we expect a rollback to the top.

Short-term upward movement is possible in the area of 1.3367 - 1.3398. The breakdown of the latter value will lead to in-depth correction. Here, the target is 1.3438. This level is the key support for the downward structure of December 8.

The main trend is the local downward structure of December 8.

Trading recommendations:

Buy: 1.3368 Take profit: 1.3396

Buy: 1.3400 Take profit: 1.3435

Sell: 1.3290 Take profit: 1.3235

Sell: 1.3228 Take profit: 1.3190

For the USD / CHF pair, the key levels on the scale of H1 are: 1.0034, 1.0011, 0.9970, 0.9937, 0.9917, 0.9891 and 0.9854. Here, we follow the upward cycle from December 1. At the moment, the price is in correction. Continued development of the upward cycle from December 1 is expected after the breakdown of 0.9970. In this case, the target is 1.0011. The potential value for the top is the level of 1.0034. After reaching this level, we expect the consolidated movement in the area of 1.0011 - 1.0034.

Short-term downward movement is possible in the area of 0.9937 - 0.9917. The breakdown of the last value will lead to in-depth correction. Here, the target is 0.9891. This level is the key support for the top.

The main trend is the upward structure from December 1, the correction stage.

Trading recommendations:

Buy: 0.9972 Take profit: 1.0010

Buy: 1.0012 Take profit: 1.0032

Sell: 0.9935 Take profit: 0.9918

Sell: 0.9915 Take profit: 0.9895

For the USD / JPY pair, the key levels on the scale are: 114.83, 114.21, 113.79, 113.49, 112.93, 112.58 and 112.05. Here, we continue to follow the upward structure of November 27. The continuation of the upward movement is expected after passing the price of the noise range of 113.49 - 113.79. In this case, the target is 114.21. Near this level is the consolidation of the price. The potential value for the top is the level of 114.83, upon reaching which we expect a pullback downwards.

Short-term downward movement is possible in the area of 112.93 - 112.58. The breakdown of the last value will lead to in-depth movement. Here, the target is 112.05. This level is the key support for the top.

The main trend is the upward cycle of November 27.

Trading recommendations:

Buy: 113.80 Take profit: 114.20

Buy: 114.25 Take profit: 114.80

Sell: 112.90 Take profit: 112.60

Sell: 112.55 Take profit: 112.10

For the CAD / USD pair, the key levels on the H1 scale are: 1.3053, 1.2988, 1.2939, 1.2878, 1.2806, 1.2767 and 1.2716. Here, we follow the upward structure of December 5. Continued upward movement is expected after the breakdown of 1.2878. In this case, the target is 1.2939. In the area of 1.2939 - 1.2988 is the consolidation of the price. The potential value for the top is the level of 1.3053, after which we expect a pullback downwards.

Short-term downward movement is possible in the area of 1.2806 - 1.2767. The breakdown of the latter value will lead to in-depth movement. Here, the target is 1.2716. This level is the key support for the top.

The main trend is the formation of the upward structure of December 5.

Trading recommendations:

Buy: 1.2878 Take profit: 1.2936

Buy: 1.2942 Take profit: 1.2986

Sell: 1.2804 Take profit: 1.2770

Sell: 1.2765 Take profit: 1.2718

For the AUD / USD pair, the key levels on the scale of H1 are: 0.7638, 0.7627, 0.7597, 0.7583, 0.7560, 0.7547, 0.7530 and 0.7501. Here, we follow the formation of the upward structure of December 8. Short-term upward movement is expected in the area of 0.7583 - 0.7597. The breakdown of the last value will lead to a pronounced movement. Here, the target is 0.7638. Upon reaching this level, we expect consolidation in the area of 0.7627 - 0.7638.

Short-term downward movement is possible in the area of 0.7560 - 0.7547. The breakdown of the last value will lead to in-depth correction. Here, the target is 0.7530. This level is the key support for the top.

The main trend is the formation of the upward structure of December 8.

Trading recommendations:

Buy: 0.7583 Take profit: 0.7595

Buy: 0.7600 Take profit: 0.7625

Sell: 0.7560 Take profit: 0.7548

Sell: 0.7545 Take profit: 0.7530

For the EUR / JPY pair, the key levels on the scale of H1 are: 136.34, 135.29, 134.75, 134.01, 133.30, 132.47, 131.98 and 131.19. Here, we continue to monitor the local structure for the top of December 6. Continued upward movement is expected after the breakdown of 134.00. In this case, the target is 134.75. In the area of 134.75 - 135.29 is the consolidation of the price. The potential value for the top is the level of 136.34. The movement towards this level is expected after the breakdown at 135.30.

Correction is possible after the breakdown of 133.07. Here, the target is 132.47. The range of 132.47 - 131.98 is the key support for the top. Passing this price will lead to the development of a downward trend in the scale of H1. In this case, the target is 131.19.

The main trend is the local structure for the top of December 6.

Trading recommendations:

Buy: 134.05 Take profit: 134.75

Buy: 135.35 Take profit: 136.32

Sell: 133.05 Take profit: 132.50

Sell: 131.95 Take profit: 131.40

For the GBP / JPY pair, the key levels on the H1 scale are: 156.00, 155.23, 153.98, 153.02, 151.66, 150.88 and 149.71. Here, the price forms a local structure for the top of December 6. Currently, it is in the corrective zone. Short-term upward movement is possible in the range of 153.02 - 153.98. The breakdown of the last value will lead to a movement towards the level of 155.23. The potential value for the top is, for the time being, the level of 156.00. After reaching this level, we expect consolidation in the area of 155.23 - 156.00.

Short-term downward movement is possible in the area of 151.66 - 150.88. The breakdown of the last value will lead to the formation of a downward structure. Here, the potential target is 149.71.

The main trend is the upward cycle of November 28, the local structure of December 6.

Trading recommendations:

Buy: 153.05 Take profit: 153.95

Buy: 154.00 Take profit: 155.20

Sell: Take profit:

Sell: 150.85 Take profit: 149.75