logo

FX.co ★ Fractal analysis of major currency pairs on April 8, 2021

Fractal analysis of major currency pairs on April 8, 2021

Outlook on April 8:

Analysis of popular currency pairs on the hourly (H1) chart:

Fractal analysis of major currency pairs on April 8, 2021

The key levels for the EUR/USD pair are 1.1995, 1.1970, 1.1953, 1.1915, 1.1898, 1.1859, 1.1834 and 1.1805. The price has been moving in an upward trend since March 31. We expect a short-term growth in the 1.1898 - 1.1915 range. If the latter breaks down, strong growth will continue to the next target of 1.1953. The price may consolidate in the range of 1.1953 - 1.1970. The final potential upward target is 1.1995 level. After reaching this level, a downward pullback can be expected.

A short-term decline, in turn, is possible in the range of 1.1859 - 1.1834. If the level of 1.1834 breaks down, a deep correction will occur. The target is set at 1.1805, which is also the key support level.

The main trend is the upward trend from March 31.

Trading recommendations:

Buy: 1.1898 Take profit: 1.1915

Buy: 1.1917 Take profit: 1.1953

Sell: 1.1859 Take profit: 1.1840

Sell: 1.1832 Take profit: 1.1810

See also: Start Forex trading with a deposit starting from 1 USD.
Fractal analysis of major currency pairs on April 8, 2021

The key levels for the GBP/USD pair are 1.3916, 1.3842, 1.3797, 1.3771, 1.3723, 1.3677, 1.3649, 1.3604 and 1.3577. The price has been moving in a bearish trend since April 6. We expect this trend to continue after the level of 1.3723 is broken. The target is set at 1.3677. The price may consolidate in the range of 1.3677 - 1.3649. If the last value breaks down, strong decline will continue to the next target of 1.3604. The ultimate potential downward target is 1.3577. After reaching this level, the price may pullback upwards.

A short-term growth is likely in the 1.3771 - 1.3797 range. If the latter breaks down, a deep correction will occur. The target is set at 1.3842, which is also the key support level.

The main trend is the downward trend from April 6.

Trading recommendations:

Buy: 1.3798 Take profit: 1.3840

Buy: 1.3845 Take profit: 1.3915

Sell: 1.3720 Take profit: 1.3678

Sell: 1.3675 Take profit: 1.3650

Fractal analysis of major currency pairs on April 8, 2021

The key levels for the USD/CHF pair are 0.9368, 0.9337, 0.9309, 0.9262, 0.9226, 0.9187 and 0.9161. The price has been moving in a downward trend since April 1. We expect the downward movement to resume after the breakdown of 0.9262. The target is set at 0.9226 and the price may consolidate near it. If the target is broken, the decline will extend to the level of 0.9187. The final potential downward target is 0.9161, from which an upward pullback is possible.

Meanwhile, short-term growth can be expected in the range of 0.9309 - 0.9337. If the level of 0.9337 breaks down, a deep correction will occur. The target is set at 0.9368, which is also the key support level.

The main trend is the downward trend from April 1.

Trading recommendations:

Buy: 0.9310 Take profit: 0.9335

Buy: 0.9338 Take profit: 0.9366

Sell: 0.9261 Take profit: 0.9227

Sell: 0.9224 Take profit: 0.9188

Fractal analysis of major currency pairs on April 8, 2021

The key levels for the USD/JPY are 110.60, 110.24, 109.99, 109.62, 109.24, 108.93, 108.61 and 108.40. The price has been following the development of the downward trend from March 31. In this case, we expect this trend to continue after the level of 109.60 is broken. The target is set at 109.24, whose breakdown will allow us to move to the next level of 108.93. A price consolidation is expected near it. The final potential downward target is 108.40. A movement to this level can be expected after the level of 108.93 is broken. The price may consolidate in the range of 108.61-108.40.

On the other hand, a short-term growth is possible in the 109.99 - 110.24 range. If the latter breaks down, a deep correction will follow. The target is set at 110.60, which is also the key support level.

The main trend is the downward trend from March 31.

Trading recommendations:

Buy: 110.00 Take profit: 110.22

Buy: 110.27 Take profit: 110.60

Sell: 109.60 Take profit: 109.28

Sell: 109.23 Take profit: 108.95

Fractal analysis of major currency pairs on April 8, 2021

The key levels for the USD/CAD pair are 1.2778, 1.2740, 1.2705, 1.2659, 1.2642, 1.2589, 1.2569, 1.2529 and 1.2498. The price has been moving in an upward trend since April 5. We expected the growth to continue after the price breaks through the range of 1.2642 - 1.2659. Here, the target is set at 1.2705. The price may consolidate around it. If the level of 1.2707 breaks down, it will allow us to move to the level of 1.2740. Another price consolidation can be expected near this level. The ultimate potential upward target is set at 1.2778, from which a downward pullback can be expected.

A short-term decline is possible in the range of 1.2589 - 1.2569. If the last value breaks down, it will lead to a deep correction. The target is set at 1.2529, which is also the key support level.

The main trend is the upward trend from April 5.

Trading recommendations:

Buy: 1.2660 Take profit: 1.2705

Buy: 1.2707 Take profit: 1.2740

Sell: 1.2589 Take profit: 1.2570

Sell: 1.2566 Take profit: 1.2535

Fractal analysis of major currency pairs on April 8, 2021

The key levels for the AUD/USD pair are 0.7742, 0.7686, 0.7646, 0.7588, 0.7554, 0.7467, 0.7442 and 0.7378. The price has been moving in a bearish trend since March 18. However, it is currently in the correction stage and is forming an upward potential from April 1. We expect the downward movement to continue after the price breaks through the noise range of 0.7588 - 0.7554. The target is set at 0.7467. The price may consolidate in the range of 0.7467 - 0.7442. The final potential downward target is 0.7378. A movement to this level can be expected after the level of 0.7441 is broken.

A short-term growth is possible in the range of 0.7646 - 0.7686. If the latter breaks down, a deep correction may follow. The target is set at 0.7742, which is also the key support level.

The main trend is the downward trend from March 18, correction stage.

Trading recommendations:

Buy: 0.7646 Take profit: 0.7685

Buy: 0.7887 Take profit: 0.7741

Sell: 0.7554 Take profit: 0.7468

Sell: 0.7441 Take profit: 0.7378

Fractal analysis of major currency pairs on April 8, 2021

The key levels for the EUR/JPY pair are 131.72, 131.22, 130.98, 130.61, 130.27, 129.86, 129.57 and 129.16. The price has been moving in an upward trend since March 25. We expect a short-term growth in the 130.27 - 130.61 range. If the latter is broken, strong movement will resume to the next target of 130.98, and then the price may consolidate in the range of 130.98 - 131.22. The final potential upward target is set at 131.72. A downward pullback may occur after reaching this level.

In turn, a short-term decline may occur in the range of 129.86 - 129.57. If the latter breaks down, a deep correction is possible. The target is set at 129.16, which is the key support level.

The main trend is the upward trend from March 25.

Trading recommendations:

Buy: 130.28 Take profit: 130.60

Buy: 130.63 Take profit: 130.98

Sell: 129.86 Take profit: 129.58

Sell: 129.55 Take profit: 129.16

Fractal analysis of major currency pairs on April 8, 2021

The key levels for the GBP/JPY pair are 153.38, 152.61, 151.98, 151.41, 150.59, 150.25, 149.42, 148.66, 147.92 and 147.45. The initial conditions for the downward trend cycle from April 6 is monitored. We expect the bearish trend to continue after the price breaks through the 150.59 - 150.25 range. The target is set at 149.42. On the other hand, a short-term decline and consolidation can be expected in the range of 149.42 - 148.66. The final potential downward target is 147.47. After reaching this level, the price may consolidate within the levels of 147.92 - 147.45, and pullback upwards.

Alternatively, a short-term growth is expected in the 151.41 - 151.98 range. If the level of 151.98 breaks down, a deep correction will occur. The target is set at 152.61, which is also the key support level. The breakdown of this level will encourage the development of the upward trend. The potential target is set at 153.38.

The main trend is the formation of initial conditions for the downward trend from April 6.

Trading recommendations:

Buy: 151.41 Take profit: 151.96

Buy: 152.00 Take profit: 152.60

Sell: 150.25 Take profit: 149.45

Sell: 149.40 Take profit: 148.68

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade
Go to the articles list Go to this author's articles Open trading account