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FX.co ★ Fractal analysis for major pairs on December 2

Fractal analysis for major pairs on December 2

Outlook on December 2:

Analytical overview of major pairs on the H1 TF:

Fractal analysis for major pairs on December 2

The key levels for the euro/dollar pair are 1.2157, 1.2123, 1.2090, 1.2048, 1.2027 and 1.1994. The upward trend from November 23 is being followed here. Therefore, we expect the pair to continue rising after the level of 1.2090 breaks down. In this case, the target is 1.2123. Meanwhile, price consolidation is in the range of 1.2090 - 1.2123. For the upside potential value, the level of 1.2157 can be considered. A downward pullback can be expected upon reaching this level.

A short-term decline, in turn, is possible in the range of 1.2048 - 1.2027. In case that the last value breaks down, a deep correction will occur. Here, the target is 1.1994, which is the key support above.

The main trend is the local upward trend of November 23

Trading recommendations:

Buy: 1.2090 Take profit: 1.2121

Buy: 1.2124 Take profit: 1.2156

Sell: 1.2048 Take profit: 1.2028

Sell: 1.2025 Take profit: 1.1995

Fractal analysis for major pairs on December 2

The key levels for the pound/dollar pair are 1.3516, 1.3453, 1.3426, 1.3329, 1.3291, 1.3250 and 1.3206. Here, we are following the local bullish trend from November 27. Now, the upward movement is expected to resume after the price passes the noise range of 1.3426 - 1.3453. In this case, the potential target is 1.3516. But before this value, we expect the formation of strong initial conditions for the next development of the upward trend.

On the other hand, a short-term decline is expected in the range of 1.3329 - 1.3291. In case that the last value breaks down, a deep correction will occur. The target here is 1.3250, which is a key upward support level. If this target breaks down, it will lead to the development of a downward trend. In this case, the potential target is 1.3206.

The main trend is the local upward trend of November 27

Trading recommendations:

Buy: Take profit:

Buy: 1.3454 Take profit: 1.3516

Sell: 1.3329 Take profit: 1.3292

Sell: 1.3289 Take profit: 1.3250

Fractal analysis for major pairs on December 2

The key levels for the dollar/franc pair are 0.9048, 0.9024, 0.9009, 0.8976, 0.8957, 0.8942 and 0.8901. The price of this pair is forming a local downward trend from November 30. In this regard, the downward movement is expected to resume after breaking through the level of 0.8976. In this case, the target is 0.8957. Price consolidation is expected near this level. On the other hand, the price passing the noise range 0.8957 - 0.8942 will lead to the development of a strong decline. The potential target here is 0.8901. Upon reaching which, upward pullback can be expected.

Meanwhile, a short-term growth is possible in the range of 0.9009 - 0.9024. If the last value breaks down, it will lead to a deep correction. The target is 0.9048, which is the key support level for the local downward trend from November 30.

The main trend is the local downward trend of November 30

Trading recommendations:

Buy : 0.9010 Take profit: 0.9023

Buy : 0.9025 Take profit: 0.9046

Sell: 0.8976 Take profit: 0.8957

Sell: 0.8941 Take profit: 0.8901

Fractal analysis for major pairs on December 2

The key levels for the dollar/yen are 105.20, 104.99, 104.85, 104.62, 104.47, 104.28, 104.13 and 103.84. Here, the price is forming a potential upward trend from November 30. A consolidated movement is expected in the range of 104.47 - 104.62. In case that the last value breaks down, it will lead to a strong movement. Here, the target is 104.85. On the other hand, there is a short-term growth and consolidation in the range of 104.85 - 104.99. As a potential value for the top, we consider the level 105.20. A downward pullback is expected after reaching this level.

A short-term decline, in turn, is possible in the range of 104.28 - 104.13. Breaking through the last value will encourage the development of a downward trend. Here, the potential target is 103.84.

The main trend is the formation of the downward trend from November 30

Trading recommendations:

Buy: 104.63 Take profit: 104.85

Buy : 104.86 Take profit: 104.97

Sell: 104.28 Take profit: 104.15

Sell: 104.11 Take profit: 103.86

Fractal analysis for major pairs on December 2

The key levels for the USD/CAD pair are 1.3008, 1.2982, 1.2957, 1.2940, 1.2915, 1.2891 and 1.2873. The price here forms a local downward trend from November 30. Against this background, a downward movement is expected after breaking through the level of 1.2915. In this case, the target is 1.2891. For the potential value for the bottom, we consider the level of 1.2873. Price consolidation and upward pullback are expected after this level is reached.

Here, a short-term decline is possible in the range of 1.2940 - 1.2957. If the last value breaks down, a deep correction will occur. The target is 1.2982, which is the key support level for the downward trend from November 30.

The main trend is the formation of a local downward trend from November 30

Trading recommendations:

Buy: 1.2940 Take profit: 1.2956

Buy : 1.2958 Take profit: 1.2981

Sell: 1.2915 Take profit: 1.2892

Sell: 1.2890 Take profit: 1.2874

Fractal analysis for major pairs on December 2

The key levels for the AUD/USD pair are 0.7534, 0.7513, 0.7477, 0.7449, 0.7408, 0.7378, 0.7359 and 0.7332. Here, we are following the local bullish trend from November 23. In this regard, the pair is expected to continue rising after breaking the level of 0.7408. In this case, the target is 0.7449. On the other hand, there is a short-term growth and consolidation in the range of 0.7449 - 0.7477. If the last value breaks down, it will lead to a strong growth. Here, the next target is 0.7513. For the upward potential value, we consider the level of 0.7534. Price consolidation and downward pullback is expected after this level is reached.

In turn, a short-term decline is expected in the range of 0.7378 - 0.7359. The last value being broken will lead to a deep correction. Here, the target is 0.7332, which is a key support for the top.

The main trend is the local upward trend of November 23

Trading recommendations:

Buy: 0.7410 Take profit: 0.7449

Buy: 0.7452 Take profit: 0.7476

Sell : 0.7378 Take profit : 0.7360

Sell: 0.7357 Take profit: 0.7332

Fractal analysis for major pairs on December 2

The key levels for the euro/yen pair are 126.86, 126.56, 126.28, 125.90, 125.67 and 125.40. The local bullish pattern from November 27 is being followed here. Therefore, we expect the pair to continue increasing after breaking through the level of 126.28. In this case, the target is 126.56. Meanwhile, there is a short-term growth and consolidation in the range of 126.28 - 126.56. For the potential value for the top, we consider the level of 126.86. Upon reaching which, price consolidation and downward pullback can be expected.

On the other hand, a short-term decline is possible in the range of 125.90 - 125.67. If the last value breaks down, the downward trend will likely further develop. In this case, the potential target is 125.40.

The main trend is the local upward trend of November 27

Trading recommendations:

Buy: 126.28 Take profit: 126.55

Buy: 126.57 Take profit: 126.84

Sell: 125.90 Take profit: 125.68

Sell: 125.65 Take profit: 125.40

Fractal analysis for major pairs on December 2

The key levels for the pound/yen pair are 141.06, 140.63, 140.32, 139.87, 139.40, 139.14, 138.72 and 138.28. Here, we are following the upward trend from November 27. In view of this, growth is expected to continue after the breakdown of 139.87. In this case, the target is 140.32. Meanwhile, there is a short-term rise and consolidation in the range of 140.32 - 140.63. For the upward potential value, we consider the level of 141.06. Upon reaching which, a downward pullback is likely.

A short-term decline, in turn, is possible in the range of 139.40 - 139.14. If the last value breaks down, it will lead to a deep correction. The target here is 138.72, which is a key support level for the upward trend.

The main trend is the upward trend for the November 27 high

Trading recommendations:

Buy: 139.88 Take profit: 140.32

Buy: 140.33 Take profit: 140.62

Sell: 139.40 Take profit: 139.15

Sell: 139.10 Take profit: 138.74

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade
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