FX.co ★ Fractal analysis of major currency pairs for December 19

Dear colleagues.

For the Euro / Dollar currency pair, we continue to monitor the upward structure from December 14 and the potential for the upward movement is at the level of 1.1468. For the Pound / Dollar currency pair, the price is in the correction zone of the initial conditions for the top of December 11 and an upward movement is expected after the breakdown of 1.2680. For the currency pair Dollar / Franc, the price is in a deep correction from the rising structure and has formed the potential for the bottom of December 17. For the currency pair Dollar / Yen, we expect a further downward movement after the breakdown of 112.27. For the Euro / Yen currency pair, we follow the formation of the initial conditions for the downward cycle of December 13 and the development of this structure is expected after the breakdown of 127.43. For the currency pair Pound / Yen, the price is close to the cancellation of the ascending structure of December 11, for which a breakdown of 141.90 is necessary.

Forecast for December 19:

Analytical review of H1-scale currency pairs:For the Euro / Dollar currency pair, the key levels on the H1 scale are 1.1468, 1.1437, 1.1414, 1.1384, 1.1353, 1.1332 and 1.1311. Here, we are following the development of the ascending structure of December 14. The continuation of the upward movement is expected after the breakdown of 1.1386. In this case, the target is 1.1414 and in the range of 1.1414 - 1.1437 is the short-term upward movements, as well as consolidation. The potential value for the top is considered the level of 1.1468, upon reaching which we expect a rollback downwards.

The short-term downward movement is possible in the range of 1.1353 - 1.1332 and the breakdown of the latter value will lead to a prolonged correction. Here, the target is 1.1311 and this level is the key support for the top.

The main trend is the ascending structure of December 14.

Trading recommendations:

Buy 1.1386 Take profit: 1.1414

Buy 1.1416 Take profit: 1.1435

Sell: 1.1353 Take profit: 1.1334

Sell: 1.1330 Take profit: 1.1311For the Pound / Dollar currency pair, the key levels on the H1 scale are 1.2865, 1.2813, 1.2741, 1.2679, 1.2592, 1.2552, 1.2517, 1.2475 and 1.2417. Here, we continue to follow the formation of the ascending structure of December 11. The continuation of the upward movement is expected after the breakdown of 1.2679. In this case, the goal is 1.2741 and near this level is the price consolidation. The breakdown of the level of 1.2741 should be accompanied by a pronounced upward movement. Here, the target is 1.2813. The potential value for the top is considered the level of 1.2865, upon reaching which we expect consolidation, as well as a rollback to the top.

The short-term downward movement, as well as consolidation, are possible in the range of 1.2592 - 1.2552. The breakdown of the last value will lead to a prolonged correction. Here, the target is 1.2517 and this level is the key support for the top. Its price will have the formation of the initial conditions for the upward cycle. In this case, the target is 1.2475.

The main trend is the formation of the ascending structure of December 11, the stage of correction.

Trading recommendations:

Buy: 1.2680 Take profit: 1.2740

Buy: 1.2744 Take profit: 1.2813

Sell: 1.2591 Take profit: 1.2552

Sell: 1.2550 Take profit: 1.2517For the Dollar / Franc currency pair, the key levels on the H1 scale are 1.0093, 1.0058, 1.0042, 1.0014, 0.9995, 0.9965, 0.9920, 0.9900 and 0.9863. Here, the price is in deep correction from the rising structure and forms the potential for the bottom of December 17. An upward movement is possible after a breakdown of 0.9965. In this case, the first target is 0.9995. The short-term upward movement is expected in the range of 0.9995 - 1.0014 and the breakdown of the last value should be accompanied by a pronounced upward movement. Here, the target is 1.0042 and in the range of 1.0042 - 1.0058 is the price consolidation. The potential value for the top is considered the level of 1.0093, upon reaching which we expect a rollback downwards.

The short-term downward movement is possible in the range of 0.9920 - 0.9900. The breakdown of the latter value will have to develop a downward structure. In this case, we expect an impulsive movement to the level of 0.9863.

The main trend is the ascending structure of December 11, the formation of potential for the bottom of December 17.

Trading recommendations:

Buy: 0.9965 Take profit: 0.9990

Buy: 0.9995 Take profit: 1.0012

Sell: 0.9918 Take profit: 0.9900

Sell: 0.9898 Take profit: 0.9865

For the Dollar / Yen currency pair, the key levels on the scale are 113.17, 112.92, 112.69, 112.29, 111.92, 111.67 and 111.30. Here, we are following the downward structure of December 14th. A downward movement is expected after the breakdown of 112.27. In this case, the goal is 111.92 and in the range of 111.92 - 111.67 price consolidation. The potential value for the bottom is considered the level of 111.30, after reaching which we expect a rollback to the top.

The short-term upward movement is possible in the range of 112.69 - 112.92 and the breakdown of the latter value will lead to a prolonged correction. Here, the goal is 113.17 and this level is the key support for the downward structure from December 14.

The main trend is the downward structure of December 14.

Trading recommendations:

Buy: 112.70 Take profit: 112.90

Buy: 112.93 Take profit: 113.17

Sell: 112.27 Take profit: 111.94

Sell: 111.90 Take profit: 111.68

For the Canadian dollar / Dollar currency pair, the key levels on the H1 scale are 1.3614, 1.3557, 1.3521, 1.3434, 1.3405, 1.3361 and 1.3318. Here, we are following the development of the bottom-up structure from December 7th. The short-term upward movement is expected in the range of 1.3521 - 1.3557 and the breakdown of the last value will allow expecting a movement towards a potential target of 1.3614, after reaching this level, we expect a rollback downwards.

The short-term downward movement is possible in the range of 1.3434 - 1.3405 and the breakdown of the last value will lead to an in-depth correction. Here, the target is 1.3361 and this level is the key support for the top. Its price passage will have to form the initial conditions for the downward cycle. In this case, the target is 1.3318 .

The main trend is the local structure for the top of December 7th.

Trading recommendations:

Buy: 1.3521 Take profit: 1.3555

Buy: 1.3560 Take profit: 1.3612

Sell: 1.3434 Take profit: 1.3405

Sell: 1.3403 Take profit: 1.3363

For the Australian dollar / dollar currency pair, the key levels on the H1 scale are 0.7247, 0.7214, 0.7196, 0.7148, 0.7127, 0.7100 and 0.7049. Here, the price has shaped the local potential for the downward movement of December 13. The short-term downward movement is expected in the range of 0.7148 - 0.7127 and the breakdown of the latter value will lead to a movement to the level of 0.7100, near which we expect consolidation. The breakdown of the level of 0.7100 should be accompanied by a pronounced downward movement. Here, the goal is 0.7049, from this value we expect a rollback to the top.

The short-term upward movement is possible in the range of 0.7196 - 0.7214 and the breakdown of the latter value will have to form an ascending structure. Here, the target is 0.7247.

The main trend is the downward structure of December 4, the local potential for the bottom of December 13.

Trading recommendations:

Buy: 0.7196 Take profit: 0.7212

Buy: 0.7216 Take profit: 0.7245

Sell: 0.7148 Take profit: 0.7128

Sell: 0.7125 Take profit: 0.7100

For the Euro / Yen currency pair, the key levels on the H1 scale are 128.76, 128.46, 128.23, 127.68, 127.43, 127.00 and 126.68. Here, the price has canceled the development of the ascending structure of December 6, and at the moment, we are following the formation of descending initial conditions of December 13. The short-term downward movement is possible in the range of 127.68 - 127.43 and the breakdown of the latter value should be accompanied by a pronounced downward movement. Here, the goal is 127.00. The potential value for the bottom is considered the level of 126.68, after reaching which we expect consolidation, as well as a rollback to the top.

The short-term upward movement is possible in the range of 128.23 - 128.46 and the breakdown of the latter value will lead to a prolonged correction. Here, the goal is 128.76 and this level is the key support for the downward structure.

The main trend is the formation of the initial conditions for the downward movement of December 13.

Trading recommendations:

Buy: 128.23 Take profit: 128.44

Buy: 128.48 Take profit: 128.74

Sell: 127.66 Take profit: 127.45

Sell: 127.40 Take profit: 127.00

For the Pound / Yen currency pair, the key levels on the H1 scale are 144.18, 143.91, 143.32, 142.42, 141.91, 141.04 and 140.64. Here, the price is close to the cancellation of the ascending structure of December 11, for which a breakdown of 141.90 is necessary. In this case, the first target is 141.04, while the potential value for the bottom is still a level of 140.64, near which we expect consolidation, as well as roll back upwards.

An upward movement is expected after the breakdown of 143.32. Here, the first target is 143.91 and the range of 143.91 - 144.18. Its passage will cost the movement to move to the potential target of 144.95 and near this level is the consolidation.

The main trend is the formation of potential for the top of December 11, the stage of deep correction.

Trading recommendations:

Buy: 144.20 Take profit: 144.90

Buy: 143.35 Take profit: 143.90

Sell: 141.90 Take profit: 141.08

Sell: 141.04 Take profit: 140.66