FX.co ★ Fractal analysis for major currency pairs as of April 30

Dear colleagues.

For the of EUR / USD pair, we determined the following key goals for the downward movement. We also expected the price to go to the adjustment area. For the GBP / USD pair, the continuation of the main trend towards the bottom is expected after the breakdown of 1.3750. For the USD / CHF pair, the price is near the limit values for the upward structure of April 10. We expect a pullback towards correction. For the USD / JPY pair, the price is in the consolidated zone. For the EUR / JPY pair, the level of 131.76 is the key support for the top. For the GBP / JPY pair, the subsequent goals for the downward movement were determined from the local downward structure on April 26.

The forecast for April 30:

Analytical review of currency pairs in the scale of H1:

For the EUR / USD pair, the key levels on the scale of H1 are: 1.2193, 1.2159, 1.2133, 1.2079, 1.2050, 1.2013 and 1.1949. Here, we expect a movement towards correction from the downward trend. The subsequent goals for the downward movement have been determined from the large initial conditions on April 17 (see the image). Short-term movement towards the top is expected in the area of 1.2133 - 1.2159. The breakdown of the last value will lead to in-depth correction. Here, the target is 1.2193. Up to this level, we expect the initial conditions for the upward cycle to be formalized.

Short-term movement towards the bottom is possible in the area of 1.2079 - 1.2050. The breakdown of the last value will lead to the movement towards the level of 1.2013. Near this level, we expect the consolidation of the price. For the potential value for the downward cycle from April 17, consider the level of 1.1949.

The main trend is the downward cycle from April 17, the correction stage.

Trading recommendations:

Buy: 1.2133 Take profit: 1.2157

Buy 1.2161 Take profit: 1.2190

Sell: 1.2079 Take profit: 1.2052

Sell: 1.2048 Take profit: 1.2015

For the GBP / USD pair, the key levels on the scale of H1 are 1.4046, 1.3979, 1.3898, 1.3847, 1.3752, 1.3684 and 1.3614. Here, we follow the downward structure of April 17. The continuation of the movement towards the bottom is expected after the breakdown of 1.3750. In this case, the target is 1.3684. In the area of 1.3684 - 1.3614 is a short-term downward movement. From here, we expect a turn towards correction.

Short-term upward movement is possible in the area of 1.3847 - 1.3898. The breakdown of the last value will lead to an in-depth movement. Here, the target is 1.3979. For the potential value for the top, consider the level of 1.4046. Up to this level, we expect the initial conditions for the subsequent development of the upward trend.

The main trend is the downward structure of April 17.

Trading recommendations:

Buy: 1.3847 Take profit: 1.3895

Buy: 1.3903 Take profit: 1.3976

Sell: 1.3750 Take profit: 1.3685

Sell: 1.3682 Take profit: 1.3620

For the USD / CHF pair, the key levels in the scale of H1 are: 0.9916, 0.9874, 0.9854, 0.9821, 0.9797, 0.9760 and 0.9729. Here, we follow the upward structure of April 10 and currently, we expect a correction. Short-term downward movement is expected in the area of 0.9874 - 0.9854. The breakdown of the last value will lead to in-depth correction. Here, the target is 0.9821. In the area of 0.9821 - 0.9797 is the consolidation of the price. For the potential value for the downward trend, we consider the level of 0.9760. Up to this level, we expect the initial conditions for the downward cycle to be formalized.

The main trend is the upward structure of April 10.

Trading recommendations:

Buy: Take profit:

Buy: Take profit:

Sell: 0.9872 Take profit: 0.9855

Sell: 0.9851 Take profit: 0.9825

For the USD / JPY pair, the key levels on a scale are: 109.96, 109.48, 109.13, 108.94, 108.61, 108.45 and 108.16. Here, we expect a consolidated movement near the level of 109.48. The potential value for the top is the level of 109.96. However, we regard the movement towards this goal as unstable.

Short-term downward movement is possible in the area of 109.13 - 108.94. The breakdown of the last value will lead to in-depth correction. Here, the target is 108.61. The range of 108.61 - 108.45 is the key support for the top.

The main trend is a local upward cycle from April 11.

Trading recommendations:

Buy: Take profit:

Buy: Take profit:

Sell: 109.13 Take profit: 108.96

Sell: 108.92 Take profit: 108.64

For the CAD / USD pair, the key levels on the H1 scale are: 1.2982, 1.2930, 1.2909, 1.2871, 1.2819, 1.2790, 1.2745 and 1.2708. Here, we follow the upward structure of April 17. The continuation of the movement towards the top is expected after the breakdown of 1.2871. In this case, the target is 1.2909. In the area of 1.2909 - 1.2930 is the consolidation of the price. For the potential value for the top, consider the level of 1.2982. Upon reaching this level, we expect a rollback to the bottom.

Short-term downward movement is possible in the area of 1.2819 - 1.2790. The breakdown of the last value will lead to in-depth correction. Here, the target is 1.2745. This level is the key support for the top of April 17. Its breakdown will lead to the formation of the initial conditions for the downward cycle. In this case, the target is 1.2708.

The main trend is the upward structure of April 17.

Trading recommendations:

Buy: 1.2871 Take profit: 1.2907

Buy: 1.2932 Take profit: 1.2980

Sell: 1.2817 Take profit: 1.2792

Sell: 1.2788 Take profit: 1.2747

For the of AUD / USD pair, the key levels on the scale of H1 are: 0.7683, 0.7646, 0.7610, 0.7590, 0.7538, 0.7520 and 0.7488. Here, we follow the downward structure of April 19. The continuation of the movement towards the bottom is expected after passing the price of the noise range at 0.7538 - 0.7520. In this case, the target is 0.7488. From this level, we expect a rollback towards the top.

Short-term upward movement is possible in the area of 0.7590 - 0.7610. The breakdown of the last value will lead to in-depth correction. Here, the target is 0.7646. This level is the key support for the downward cycle. Up to the level of 0.7683, we expect the initial conditions for the upward movement to be formalized.

The main trend is the downward structure of April 19.

Trading recommendations:

Buy: 0.7590 Take profit: 0.7608

Buy: 0.7612 Take profit: 0.7644

Sell: 0.7520 Take profit: 0.7490

Sell: Take profit:

For the of EUR / JPY pair, the key levels on the scale of H1 are: 134.70, 133.92, 133.54, 133.06, 132.25, 131.76 and 131.09. Here, we continue to follow the upward structure of March 22. At the moment, the price is in correction. The continuation of the movement towards the top is expected after the breakdown of the level of 133.06. In this case, the target is 133.54. Short-term upward movement is possible in the area of 133.54 - 133.92. The breakdown of the last value will lead to the movement towards the potential target of 134.70. Near this level, we expect the consolidation of the price.

Short-term downward movement is possible in the area of 132.25 - 131.76. The breakdown of the latter value will lead to the development of a downward trend. Here, the target is 131.09. This level is still potential for the bottom.

The main trend is the upward structure of March 22, the correction stage.

Trading recommendations:

Buy: 133.08 Take profit: 133.52

Buy: 133.95 Take profit: 134.70

Sell: 132.20 Take profit: 131.80

Sell: 131.72 Take profit: 131.15

For the GBP / JPY pair, the key levels on the scale of H1 are: 151.82, 151.15, 150.76, 150.06, 149.52, 148.56, 148.17 and 147.48. Here, the subsequent goals for the downward movement was determined from the local structure on April 26. Short-term movement towards the bottom is expected in the area of 150.06 - 149.52. The breakdown of the last value should be accompanied by a pronounced movement towards the level of 148.56. In the area of 148.56 - 148.17 is the consolidation of the price. For the potential value for the bottom, consider the level of 147.48. Upon reaching this level, we expect a pullback to the top.

Short-term upward movement is possible in the area of 150.76 - 151.15. The breakdown of the last value will lead to in-depth correction. Here, the target is 151.82. This level is the key support for the bottom.

The main trend is the downward structure of April 26.

Trading recommendations:

Buy: 150.76 Take profit: 151.13

Buy: 151.17 Take profit: 151.80

Sell: 150.04 Take profit: 149.55

Sell: 149.45 Take profit: 148.60