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FX.co ★ Fractal analysis of major currency pairs on February 22

Fractal analysis of major currency pairs on February 22

Outlook on February 22:

Analytical review of popular currency pairs on the hourly chart:

Fractal analysis of major currency pairs on February 22

The key levels for the EUR/USD pair are 1.2276, 1.2237, 1.2220, 1.2173, 1.2144, 1.2082, 1.2053, 1.2024 and 1.1990. The price has formed an upward potential from February 17. In this case, we expect it to make a short-term growth in the range of 1.2144 - 1.2173. If the last value is broken, strong growth will continue towards the next target of 1.2220. The price may consolidate in the range of 1.2220 - 1.2237. The final potential upward target is 1.2276. After reaching this level, the price may pull back downwards.

In turn, a short-term downward trend is possible in the 1.2082 - 1.2053 range, wherein a key upward reversal can be expected. Once the last value is broken, the decline will continue towards the first target of 1.2024. Here, the potential downward target is 1.1990.

The main trend is the upward trend from February 17.

Trading recommendations:

Buy: 1.2144 Take profit: 1.2171

Buy: 1.2174 Take profit: 1.2220

Sell: 1.2082 Take profit: 1.2055

Sell: 1.2051 Take profit: 1.2025

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Fractal analysis of major currency pairs on February 22

The key levels for the GBP/USD pair are 1.4214, 1.4155, 1.4108, 1.4042, 1.3992, 1.3925, 1.3880 and 1.3826. The price has formed a local potential for the next development of an upward trend. So, we expect a short-term growth in the range of 1.3992 - 1.4042. Once the last value is broken, strong growth will resume towards the target of 1.4108. This will be followed by another short-term upward movement and consolidation in the 1.4108 - 1.4155 range. The final upward target is 1.4214. After reaching this level, the price may make a downward pullback.

On the other hand, a short-term decline is expected in the range of 1.3925 - 1.3880. If the level of 1.3880 is broken, the downward trend will develop further. In such a case, the first target is 1.3826.

The main trend is the upward trend from February 4, local upward potential from February 17.

Trading recommendations:

Buy: 1.4043 Take profit: 1.4108

Buy: 1.4108 Take profit: 1.4155

Sell: 1.3925 Take profit: 1.3881

Sell: 1.3880 Take profit: 1.3826

Fractal analysis of major currency pairs on February 22

The key levels for the USD/CHF pair are 0.9121, 0.9084, 0.9064, 0.9024, 0.8993, 0.8974, 0.8962 and 0.8933. The price considers the trend from February 16 as a mid-term initial condition. Now, we expect the price to continue moving up after the level of 0.9024 breaks down. In such a case, the target is seen at 0.9064. This can be followed by a short-term growth and consolidation in the range of 0.9064 - 0.9084. The final potential upward target is set at 0.9121. The price may make a downward pullback after reaching this level.

A possible correction can be expected after the level of 0.8993 is broken. The target is set at 0.8974. The key upward support is in the 0.8974 - 0.8962 range. The price breaking through it will lead to the continuation of a downward trend. In this case, the potential target is 0.8933.

The main trend is the upward trend.

Trading recommendations:

Buy: 0.9025 Take profit: 0.9064

Buy: 0.9065 Take profit: 0.9082

Sell: 0.8993 Take profit: 0.8976

Sell: 0.8960 Take profit: 0.8935

Fractal analysis of major currency pairs on February 22

The key levels for the USD/JPY are 106.96, 106.80, 106.45, 106.27, 105.98, 105.58 and 105.28. The price has been ascending since February 10. Therefore, we expect it to continue its growth after the level of 105.98 is broken. The first target is set at 106.27. Meanwhile, a short-term growth is possible in the 106.27 - 106.45 range. Once the level of 106.45 is broken, a strong growth will follow towards 106.80. The ultimate upward target is the level 106.96. After reaching this level, a downward pullback can be expected.

A short-term decline, in contrast, is possible in the 105.58 - 105.28 range. A key upward reversal can be expected from it.

The main trend is the upward trend from February 10, correction stage.

Trading recommendations:

Buy: 105.98 Take profit: 106.27

Buy: 106.27 Take profit: 106.45

Sell: 105.56 Take profit: 105.30

Sell: 105.25 Take profit: 104.75

Fractal analysis of major currency pairs on February 22

The key levels for the USD/CAD pair are 1.2740, 1.2672, 1.2643, 1.2581, 1.2539, 1.2482, 1.2456 and 1.2408. The price has been moving down since February 17. In this case, we expect it to further decline after the breakdown of 1.2581 level. After that, it can move to the target of 1.2539. The price may consolidate closer to this level. If this target is broken, the strong decline will resume to the target of 1.2482. A price consolidation will follow in the 1.2482 - 1.2456 range. The final potential downward target is 1.2408. After reaching this level, an upward pullback may occur.

A short-term growth, in turn, is expected in the 1.2643 - 1.2672 range. Once the level of 1.2672 is broken, the upward trend may develop. The potential target is set at 1.2740.

The main trend is a downward trend from January 28, a local downward trend from February 17.

Trading recommendations:

Buy: 1.2643 Take profit: 1.2671

Buy: 1.2674 Take profit: 1.2740

Sell: 1.2580 Take profit: 1.2542

Sell: 1.2537 Take profit: 1.2482

Fractal analysis of major currency pairs on February 22

The key levels for the AUD/USD pair are 0.8017, 0.7993, 0.7955, 0.7907, 0.7848, 0.7811 and 0.7758. The price has been moving in an upward trend since February 2. This trend will further extend after the level of 0.7907 is broken. The target is set at 0.7955. After breaking through this target, the upward movement will continue to the potential target of 0.8017. The price may consolidate near this level.

A short-term decline is possible in the range of 0.7848 - 0.7811. If the last value is broken, a deep correction may occur. The target is set at 0.7758, which is also the key upward support level.

The main trend is the upward trend from February 2.

Trading recommendations:

Buy: 0.7908 Take profit: 0.7954

Buy: 0.7956 Take profit: 0.7993

Sell: 0.7848 Take profit: 0.7812

Sell: 0.7808 Take profit: 0.7760

Fractal analysis of major currency pairs on February 22

The key levels for the EUR/JPY pair are 129.40, 129.10, 128.82, 128.47, 128.26, 127.58, 127.23, 126.99 and 126.55. The price, which has been moving upward since February 4, has formed a local trend for the upward trend from February 17. We expect growth to resume after the price breaks through the 128.26 - 128.47 range. In such a case, the target is set at 128.82. Meanwhile, a short-term growth and consolidation is possible in the range of 128.82 - 129.10. The final potential upward target is 129.40. After reaching this level, the price may pull back downwards.

The upward key support level is 127.58. A breakout of this level will lead to the development of a downward trend. If it happens, the target will be set at 127.23. The price may consolidate in the 127.23 - 126.99 range. The final potential downward target is the 126.55 level. After reaching this level, an upward pullback may occur.

The main trend is an upward trend from February 4, local trend from February 17.

Trading recommendations:

Buy: 128.48 Take profit: 128.82

Buy: 128.84 Take profit: 129.10

Sell: 127.58 Take profit: 127.23

Sell: 126.97 Take profit: 126.55

Fractal analysis of major currency pairs on February 22

The key levels for the GBP/JPY pair are 150.26, 149.55, 149.15, 148.15, 147.73, 146.32, 145.66 and 144.87. The price has been moving in a bullish trend starting from February 4. This trend will extend if the price breaks through the 147.73 - 148.15 range. In such a case, the target will be set at 149.15. The price may consolidate in the range of 149.15 - 149.55. The final upward target is 150.26. After reaching this level, the price may make a downward pullback.

In turn, a short-term decline is expected in the 146.32 - 145.66 range. A breakout of the last value will result in a deep correction. The target is set at 144.87, which is also the key support.

The main trend is the upward trend from January 18, the local upward trend from February 4.

Trading recommendations:

Buy: 148.16 Take profit: 149.15

Buy: 149.55 Take profit: 150.26

Sell: 146.31 Take profit: 145.67

Sell: 145.64 Take profit: 144.88

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