Fractal analysis of major currency pairs for January 9

Dear colleagues.

For the currency pair Euro / Dollar, we are following the development of the upward cycle of January 2. For the Pound / Dollar currency pair, we should continue the development of the ascending structure from January 2 after the breakdown of 1.2813. For the currency pair Dollar / Franc, after the cancellation of the ascending structure, we follow the development of the downward cycle of January 2. For the currency pair Dollar / Yen, we expect to continue moving upwards after passing by the price of the range of 108.95 - 109.21. For the Euro / Yen currency pair, we expect further uptrend after the breakdown of 125.14. For the currency pair Pound / Yen, we also continue to follow the development of the upward structure from January 3 and the level of 139.50 is the key resistance.

Forecast for January 9:

Analytical review of H1-scale currency pairs:

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For the Euro / Dollar currency pair, the key levels on the H1 scale are 1.1578, 1.1554, 1.1519, 1.1492, 1.1451, 1.1428 and 1.1401. Here, we continue to follow the development of the ascending structure from January 2. The short-term upward movement is possible in the range of 1.1492 - 1.1519 and the breakdown of the latter value should be accompanied by a pronounced upward movement. Here, the target is 1.1554. The potential value for the top is considered to be the level of 1.1578, upon reaching which we expect a consolidated movement, as well as a departure to a correction.

The short-term downward movement is possible in the range of 1.1451 - 1.1428 and the breakdown of the latter value will lead to a prolonged movement. Here, the target is 1.1401 and this level is the key support for the top.

The main trend is the ascending structure of January 2.

Trading recommendations:

Buy 1.1492 Take profit: 1.1515

Buy 1.1523 Take profit: 1.1554

Sell: 1.1451 Take profit: 1.1430

Sell: 1.1425 Take profit: 1.1404

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For the Pound / Dollar currency pair, the key levels on the H1 scale are 1.2960, 1.2875, 1.2813, 1.2734, 1.2695 and 1.2645. Here, we are following the ascending structure of January 2. An upward movement is expected after the breakdown of 1.2813. In this case, the target is 1.2875 and in the range of 1.2813 - 1.2875 is the price consolidation. The potential value for the top is considered the level of 1.2960, upon reaching which we expect a rollback downwards.

The short-term downward movement is possible in the range of 1.2734 - 1.2695 and the breakdown of the latter value will lead to a prolonged correction. Here, the target is 1.2645 and this level is the key support for the top.

The main trend is the ascending structure of January 2.

Trading recommendations:

Buy: 1.2815 Take profit: 1.2870

Buy: 1.2877 Take profit: 1.2940

Sell: 1.2734 Take profit: 1.2698

Sell: 1.2690 Take profit: 1.2660

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For the Dollar / Franc currency pair, the key levels on the H1 scale are 0.9864, 0.9834, 0.9816, 0.9786, 0.9767, 0.9742 and 0.9725. Here, after the abolition of the ascending structure, we are following the development of the downward movement of January 2. The short-term downward movement is possible in the range of 0.9786 - 0.9767 and the breakdown of the latter value should be accompanied by a pronounced downward movement. Here, the goal is 0.9742. A potential value for the bottom is considered to be the level of 0.9725, 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 0.9816 - 0.9834 and the breakdown of the latter value will lead to a prolonged correction. Here, the target is 0.9864 and this level is the key support for the downward structure.

The main trend is the downward cycle of January 2.

Trading recommendations:

Buy: 0.9816 Take profit: 0.9832

Buy: 0.9836 Take profit: 0.9860

Sell: 0.9784 Take profit: 0.9769

Sell: 0.9765 Take profit: 0.9746

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For the Dollar / Yen currency pair, the key levels on the scale are 110.12, 109.58, 109.21, 108.95, 108.63, 108.34 and 107.93. Here, we are following the ascending structure of January 3 on the scale of M30. Passing through the range of 108.95 - 109.21 will allow us to count on the movement to the level of 109.58, near which we expect consolidation. The potential value for the top is considered the level of 110.12, upon reaching which we expect a rollback downwards.

The short-term downward movement is possible in the range of 108.63 - 108.34 and the breakdown of the latter value will lead to an in-depth correction. Here, the goal is 107.93 and this level is the key support for the top.

The main trend is the rising structure of January 3.

Trading recommendations:

Buy: 109.21 Take profit: 109.58

Buy: 109.65 Take profit: 110.10

Sell: 108.60 Take profit: 108.38

Sell: 108.32 Take profit: 107.95

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For the Canadian dollar / Dollar currency pair, the key levels on the H1 scale are 1.33.95, 1.3320., 1.3271, 1.3201, 1.3150 and 1.3065. Here, we continue to monitor the downward structure of December 31 and in the range of 1.3201 - 1.3150, we expect a short-term downward movement, as well as consolidation. The potential value for the bottom, we consider the level of 1.3065, after reaching which we expect a rollback to the correction.

The short-term upward movement is possible in the range of 1.3271 - 1.3320 and the breakdown of the latter value will lead to a deep correction. Here, the target is 1.3395 and this level is the key support for the downward structure.

The main trend is the downward cycle of December 31.

Trading recommendations:

Buy: 1.3271 Take profit: 1.3320

Buy: 1.3330 Take profit: 1.3395

Sell: 1.3201 Take profit: 1.3155

Sell: 1.3145 Take profit: 1.3070

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For the Australian dollar / dollar currency pair, the key levels on the H1 scale are 0.7313, 0.7270, 0.7207, 0.7131, 0.7102 and 0.7059. Here, we are following the ascending structure of January 3. The continuation of the upward movement is expected after the breakdown of 0.7207. In this case, the target is 0.7207. The potential value for the top is considered to be the level of 0.7313, after reaching which we expect a consolidated movement, as well as a departure to a correction.

The short-term downward movement is possible in the range of 0.7131 - 0.7102 and the breakdown of the latter value will lead to a prolonged correction. Here, the goal is 0.7059 and this level is the key support for the upward structure.

The main trend is the ascending structure of January 3.

Trading recommendations:

Buy: 0.7207 Take profit: 0.7270

Buy: 0.7275 Take profit: 0.7310

Sell: 0.7131 Take profit: 0.7105

Sell: 0.7100 Take profit: 0.7065

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For the Euro / Yen currency pair, the key levels on the H1 scale are 127.22, 126.70, 125.79, 125.15, 124.22, 123.74 and 123.05. Here, we continue to monitor the ascending structure of January 3. An upward movement is expected after the breakdown of 125.15. In this case, the target is 125.79 and price consolidation is near this level. The breakdown of the level of 125.80 must be accompanied by a pronounced upward movement. Here, the goal is 126.70. The potential value for the top is considered the level of 127.22, after reaching which we expect a consolidated movement, as well as a rollback to the top.

The short-term downward movement is possible in the range of 124.22 - 123.74 and the breakdown of the latter value will lead to a prolonged correction. Here, the target is 123.05 and this level is the key support for the upward structure.

The main trend is the ascending structure of January 3.

Trading recommendations:

Buy: 125.15 Take profit: 125.76

Buy: 125.82 Take profit: 126.70

Sell: 124.20 Take profit: 123.78

Sell: 123.70 Take profit: 123.10

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For the Pound / Yen currency pair, the key levels on the H1 scale are 141.90, 140.50, 139.49, 137.49, 136.81 and 135.70. Here, we are following the development of the ascending structure of January 3. The continuation of the movement upward is expected after the breakdown of 139.50. In this case, the first target is 140.50 and consolidation is near this level. The potential value for the top is considered the level of 141.90, upon reaching which we expect a rollback downwards.

The short-term downward movement is possible in the range of 137.49 - 136.81 and the breakdown of the latter value will lead to an in-depth correction. Here, the goal is 135.70 and this level is the key support for the top.

The main trend is the ascending structure of January 3.

Trading recommendations:

Buy: 139.55 Take profit: 140.50

Buy: 140.55 Take profit: 141.60

Sell: 137.45 Take profit: 136.85

Sell: 136.75 Take profit: 136.00

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