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Forex Traiding

Fractal analysis of major currency pairs for May 4


Forecast for May 4: Analytical overview of currency pairs on the H1 scale: For the Euro / Dollar pair, the key levels on the H1 scale are: 1.2086, 1.2066, 1.2032, 1.1996, 1.1967, 1.1915 and 1.1874. Here we are following the development of the descending structure from April 29th. A short-term downward movement is expected in the corridor 1.1996 – 1.1967, a breakdown of the last value will lead to a pronounced downward movement, here the target is 1.1915. We consider the level 1.1874 as a potential value for the bottom, upon reaching which we expect a rollback upward. A short-term upside is possible in the 1.2032 – 1.2066 corridor, the 1.2066 – 1.2086 range is the key support for the downside. The main trend is a descending structure from April 29 Trading recommendations: Buy: 1.2032 Take profit: 1.2064 Buy: 1.2067 Take profit: 1.2086 Sell: 1.1996 Take profit: 1.1968 Sell: 1.1965 Take profit: 1.1917 For the Pound / Dollar pair, the key levels on the H1 scale are : 1.4070, 1.4030, 1.4008, 1.3961, 1.3929, 1.3866, 1.3848, 1.3829 and 1.3800. Here we are following the formation of the April 30 upward structure. Continuation of the upward movement is expected after the breakdown of 1.3929, in this case the target is 1.3961, near this level there is consolidation. Breakdown of the level of 1.3961 will lead to a pronounced upward movement, here the target is 1.4008, in the corridor 1.4008 – 1.4030 there is a short-term upward movement, as well as consolidation. We consider the level of 1.4070 as a potential value for the top, upon reaching which we expect a pullback downward. A short-term downward movement is possible in the 1.3866 – 1.3848 corridor, a breakdown of the last value will lead to a deep correction, here the target is 1.3829, this level is a key support for the top. The main trend is an upward structure from April 30 Trading recommendations: Buy: 1.3929 Take profit: 1.3960 Buy: 1.3963 Take profit: 1.4008 Sell: 1.3848 Take profit: 1.3831 Sell: 1.3828 Take profit: 1.3800 For the USD / Franc pair, the key levels on the H4 scale are : 0.9226, 0.9209, 0.9182, 0.9163, 0.9138, 0.9115, 0.9076 and 0.9040. Here we are following the development of the April 29 ascending structure. A short-term upward movement is expected in the range 0.9163 – 0.9182, a breakdown of the last value will lead to a pronounced movement, here the target is 0.9209. We consider the level of 0.9226 as a potential value for the top; upon reaching this level, consolidation, as well as a rollback downward. A short-term downward movement is expected in the corridor 0.9138 – 0.9115, a breakdown of the last value will encourage the formation of initial conditions for a bottom, here the potential target is 0.9076. The main trend is the formation of an ascending structure from April 29 Trading recommendations: Buy: 0.9164 Take profit: 0.9180 Buy: 0.9184 Take profit: 0.9209 Sell: 0.9136 Take profit: 0.9120 Sell: 0.9113 Take profit: 0.9080 For the dollar / yen pair, the key levels in the scale are : 110.80, 110.30, 110.08, 109.69, 109.11, 108.90 and 108.51. Here we are following the development of the upward cycle of April 23rd. Continuation of the upward movement is expected after the breakdown of 109.70, in this case the target is 110.08, in the corridor 110.08 – 110.30 there is a short-term upward movement, as well as consolidation. We consider the 110.80 level as a potential value for the top, upon reaching which we expect a rollback downward. A short-term downward movement is expected in the corridor 109.11 – 108.90, a breakdown of the last value will lead to the development of a downward structure, here the potential target is 108.51. Main trend: upward cycle from April 23 Trading recommendations: Buy: 109.70 Take profit: 110.08 Buy: 110.10 Take profit: 110.30 Sell: 109.11 Take profit: 108.91 Sell: 108.88 Take profit: 108.54 Key levels for the Canadian dollar / Dollar pair on the H1 scale are: 1.2436, 1.2383, 1.2341, 1.2280, 1.2251, 1.2190 and 1.2149. Here we are following the development of the April 21 downtrend cycle. We expect the downward movement to continue after the price passes the noise range 1.2280 – 1.2251, in this case the target is 1.2190. The potential value for the bottom is the level of 1.2149, upon reaching which we expect consolidation, as well as an upward rollback. A short-term upward movement is expected in the range 1.2341 – 1.2383, a breakdown of the last value will lead to a deep correction, here the target is 1.2436. The main trend is a descending structure from April 21. Trading recommendations: Buy: 1.2341 Take profit: 1.2381 Buy: 1.2384 Take profit: 1.2436 Sell: 1.2250 Take profit: 1.2192 Sell: 1.2188 Take profit: 1.2150 For the Australian dollar / Dollar pair, key levels on the H1 scale are: 0.7821, 0.7773, 0.7745, 0.7698, 0.7669, 0.7651, 0.7605 and 0.7584. Here we are following the formation of the descending structure from April 29th. Continuation of the downward movement is expected after the breakdown of 0.7698, in this case the target is 0.7669, in the corridor 0.7669 – 0.7651 price consolidation. The breakout of the last value will lead to a pronounced downward movement, here the target is 0.7605. We consider the level of 0.7584 as a potential value for the bottom, upon reaching which we expect a rollback upward. A short-term upward movement is expected in the corridor 0.7745 – 0.7773, a breakdown of the last value will encourage the formation of an upward structure, here the target is 0.7821. The main trend is the formation of a descending structure from April 29. Trading recommendations: Buy: 0.7698 Take profit: 0.7670 Buy: 0.7650 Take profit: 0.7607 Sell: 0.7745 Take profit: 0.7770 Sell: 0.7774 Take profit: 0.7820 For the EUR / Yen pair, the key levels on the H1 scale are: 133.14, 132.82, 132.64, 132.17 , 131.96, 131.43, 131.18 and 130.73. Here we are following the upward cycle of April 23rd. A short-term upward movement is expected in the corridor 131.96 – 132.17, a breakdown of the last value will lead to a pronounced upward movement, here the target is 132.64, in the corridor 132.64 – 132.82 there is consolidation. The potential value for the top is the level of 133.14, the movement to which is expected after the breakdown of 132.82. A short-term downward movement is expected in the range of 131.43 – 131.18, a breakdown of the last value will lead to a deep correction, here the target is 130.75, this level is a key support for the top. The main trend is the upward cycle from April 23rd. Trading recommendations: Buy: 132.17 Take profit: 132.64 Buy: 132.83 Take profit: 133.14 Sell: 131.40 Take profit: 131.19 Sell: 131.16 Take profit: 130.76 For the Pound / Yen pair, the key levels on the H1 scale are: 153.28, 152.65, 152.35, 151.92 , 151.46, 151.18 and 150.75. Here we are following the development of the April 23 bottom-up structure. Continuation of the upward movement is expected after the breakdown of 151.92, in this case the target is 152.35, in the corridor 152.35 – 152.65 there is a short-term upward movement, as well as consolidation. Breakdown of the level 152.65 to a pronounced upward movement to a potential target of 153.28. A short-term downward movement is possible in the range 151.46 – 151.18, a breakdown of the last value will lead to a deep correction, here the target is 150.75. The main trend is an upward structure from April 23. Trading recommendations: Buy: 151.94 Take profit: 152.35 Buy: 152.65 Take profit: 153.28 Sell: 151.46 Take profit: 151.18 Sell: 151.16 Take profit: 150.75 If you have questions about this analytics, you are you can ask on the Forexdengi.com forum in the analytics section from Alexey Almazov. – Source: InstaForex

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