FX.co ★ Fractal analysis of the main currency pairs on January 17

Dear colleagues.

For the EUR/USD pair, the goals remain unchanged and it is expected turn into a correction from the range 1.2336 - 1.2359 in general. For the GBP/USD pair, the potential value for the top is still the level of 1.3891. On the USD/CHF pair, it follows the downward structure of January 10 which will continue its downtrend after a breakdown at the level of 0.9562. For the USD/JPY pair, the potential for a downward movement has expanded to the level of 109.07 due to the long-term structure of January 8. For the EUR/JPY pair, the upward movement is expected to continue after passing the price of the noise range of 136.16 - 136.46. At the moment, the price has only formalized the initial conditions for the top. For the GBP/JPY pair, it is being monitored for the potential top formation of November 11 and an impulse is expected in the near future.

Forecast for January 17:

Analytical review of currency pairs in the scale of H1:

For the EUR/USD pair, the key levels on the H1 scale are 1.2411, 1.2359, 1.2336, 1.2294, 1.2240, 1.2212 and 1.2169. Here, it continues to follow the upward structure from January 9 and it is currently expected to reach the level of 1.2336 from the range 1.2336 - 1.2359 with the probability of a turn into the corrective zone is high. The potential value for the top is the level of 1.2411.

A short-term downward movement is 1.2212, which is the key to support for the top. If this is the case, the development of the downward trend is 1.2098.

The main trend is the ascending structure of January 9.

Trading recommendations:

Buy: 1.2296 Take profit: 1.2334

Buy 1.2360 Take profit: 1.2410

Sell: 1.2240 Take profit: 1.2214

Sell: 1.2210 Take profit: 1.2175

For the GBP/USD pair, the key levels on the H1 scale are 1.3891, 1.3824, 1.3761, 1.3731, 1.3690 and 1.3649. Here, the price is near the limit values and a correction is expected. A break at the level of 1.3824 should be accompanied by an unstable movement with the potential target of 1.3891. However, we do not recommend trading for this value.

The short-term downward movement is possible in the area of 1.3761 - 1.3731 and a breakdown of the last value will lead to in-depth correction with the target of 1.3690, which is the level of the key support for the top. There is potential value for the downward movement to the level of 1.3649, where the initial conditions for the downward cycle are expected to be formalized.

The main trend is the ascending cycle of January 11.

Trading recommendations:

Buy: 1.3826 Take profit: 1.3850

Buy: Take profit:

Sell: 1.3760 Take profit: 1.3733

Sell: 1.3730 Take profit: 1.3692

For the USD/CHF pair, the key levels on the H1 scale are 0.9684, 0.9662, 0.9627, 0.9605, 0.9564, 0.9531 and 0.9498. Here, it continues to follow the downward structure of January 10. If this is the case, the downward movement is expected to continue after the breakdown of 0.9564 with the target of 0.9531, which is near the level of consolidation. The potential value for the bottom is the level of 0.9498 and a rollback to the top is expected upon reaching this area.

A short-term upward movement is possible in the area of 0.9605 - 0.9627, the breakdown of the last value will lead to in-depth movement with the target of 0.9962. The key support for the bottom ranges is at 0.9662 - 0.9684 and prior to this, the initial conditions for the upward cycle are expected.

The main trend is the downward structure of January 10.

Trading recommendations:

Buy: 0.9605 Take profit: 0.9625

Buy: 0.9630 Take profit: 0.9660

Sell: 0.9562 Take profit: 0.9535

Sell: 0.9528 Take profit: 0.9500

For the USD / JPY pair, the key levels on the scale are 111.96, 111.56, 111.27, 111.03, 110.22, 109.86, 109.63 and 109.07. Here, it continues to follow the downward structure of January 8. If this is the case, the downward movement is expected to continue after the breakdown of 110.20 with the target of 109.86, which is in the area of consolidation at 109.86 - 109.63. The potential value for the bottom is the level of 109.07, which is expected after the breakdown of 109.60.

A short-term upward movement is possible in the area of 111.03 - 111.27. A breakdown of the last value will lead to in-depth correction with the target of 111.56, which is the key support for the downward structure. The price will have an upward structure upon reaching this area with the target of 111.96.

The main trend: the downward cycle from January 8.

Trading recommendations:

Buy: 111.03 Take profit: 111.25

Buy: 111.29 Take profit: 111.55

Sell: 110.20 Take profit: 109.88

Sell: 109.60 Take profit: 109.10

For the USD/CAD pair, the key levels on the H1 scale are 1.2508, 1.2471, 1.2447, 1.2401, 1.2380, 1.2323 and 1.2287. Here, it continues the downward structure of January 11. A short-term downward movement is expected in the area of 1.2401 - 1.2380 and a breakdown of the last value should be accompanied by a pronounced movement to the level of 1.2323. the potential value for the bottom is the level of 1.2287, and a shift to a correction is expected upon reaching this area.

A short-term upward movement is possible in the area of 1.2447 - 1.2471. A breakdown of the last value will lead to in-depth movement with the target of 1.2508.

The main trend is the downward structure of January 11.

The main trend is the downward structure of January 11.

Trading recommendations:

Buy: 1.2447 Take profit: 1.2470

Buy: 1.2475 Take profit: 1.2505

Sell: 1.2380 Take profit: 1.2330

Sell: 1.2320 Take profit: 1.2290

For the AUD/USD pair, the key levels on the H1 scale are 0.8063, 0.8039, 0.8002, 0.7963, 0.7941 and 0.7927. Here, it continues to follow the upward structure of January 9. If this is the case, the upward movement is expected to continue after the breakdown of 0.8002, with the target of 0.8039. The potential value for the top is the level 0.8063, after which a consolidation is expected and a pullback to the bottom.

A shift to correction is possible after the breakdown of 0.7963 with the target of 0.7941. The key support for the top ranges at 0.7941 - 0.7927.

The main trend is the ascending structure of January 9.

Trading recommendations:

Buy: 0.8005 Take profit: 0.8035

Buy: 0.8042 Take profit: 0.8060

Sell: 0.7962 Take profit: 0.7944

Sell: Take profit:

For the EUR / JPY pair, the key levels on the H1 scale are 137.47, 137.06, 136.46, 136.16, 135.35, 135.03, 134.62 and 134.04. Here, it follows the upward structure of January 10. If this is the case, the continuation of the upward movement is assumed after it is passed the price of 136.061 and 136.46, with the target of 137.06. The potential value for the top is the level of 137.47, after which a consolidation is expected and a pullback to the bottom.

A short-term downward movement is possible in the area of 135.35 - 135.03. A breakdown of the last value will lead to in-depth correction with the target of 134.62, which is the key support for the top. If this is the case, the price will have a downward structure upon reaching this area with the target of 134.04.

The main trend is the ascending structure of January 10.

Trading recommendations:

Buy: 136.48 Take profit: 137.05

Buy: 137.08 Take profit: 137.45

Sell: 135.03 Take profit: 134.64

Sell: 134.60 Take profit: 134.06

For the GBP/JPY pair, the key levels on the H1 scale are 155.27, 154.59, 153.58, 152.83, 151.95, 151.37 and 150.08. Here, the price forms the potential for the upward movement of January 11. If this is the case, the upward movement is expected to continue after the breakdown of 152.83 with the target of 153.58, which is near the consolidation level of the price. A breakout at the level of 153.60 should be accompanied by a pronounced upward movement, with the target of 154.59. The potential value for the top is the level of 155.27 and a rollback to correction is expected after reaching this level.

A short-term downward movement is possible in the area of 151.95 - 151.37. A breakdown of the last value will form a downward structure with the target of 150.10.

The main tendency is the formation of the ascending potential from January 11.

Trading recommendations:

Buy: 152.85 Take profit: 153.50

Buy: 153.62 Take profit: 154.55

Sell: 151.95 Take profit: 151.45

Sell: 151.33 Take profit: 150.15