Fractal analysis of major currency pairs for February 7

Dear colleagues.

For the currency pair Euro / Dollar, we expect a downward movement after the breakdown of 1.1353, and we consider the upward movement as a correction. For the currency pair Pound / Dollar, we should continue the downward movement after the breakdown of 1.2929. For the currency pair dollar/franc, the upward trend development is expected after the breakdown of 1.0027. For the currency pair Dollar / Yen, the upward structure of January 31 is expected to continue to develop after the breakdown of 110.22 and at the moment, the price is in the zone of initial conditions. For the currency pair Euro / Yen, the price has issued a downward structure on February 4 and its development is expected after the breakdown of 124.30. For the currency pair Pound / Yen, the development of the situation on the H1 scale is expected after the breakdown of 141.80 and the level of 143.35 is the key support.

Forecast for February 6:

Analytical review of H1-scale currency pairs:

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For the currency pair Euro / Dollar, the key levels on the H1 scale are 1.1416, 1.1388, 1.1375, 1.1353, 1.1326, 1.1307 and 1.1284. Here, we are following the development of the downward structure of January 31. The downward movement is expected after the breakdown of the level of 1.1353. In this case, the target is 1.1326 and in the range of 1.1326 - 1.1307 is the short-term downward movements, as well as consolidation. The potential value for the bottom is considered the level of 1.1284, the movement to which is expected after the breakdown of 1.1305.

The corrective uptrend is possible in the range of 1.1375 - 1.1388 and the breakdown of the latter value will lead to a prolonged correction. Here, the target is 1.1416 and this level is the key support for the downward structure.

The main trend is the downward structure of January 31.

Trading recommendations:

Buy 1.1375 Take profit: 1.1388

Buy 1.1390 Take profit: 1.1412

Sell: 1.1352 Take profit: 1.1328

Sell: 1.1324 Take profit: 1.1307

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For the currency pair Pound / Dollar, the key levels on the H1 scale are 1.3068, 1.3015, 1.2991, 1.2929, 1.2885, 1.2828 and 1.2789. Here, we continue to monitor the downward cycle of January 28th. The short-term downward movement is possible in the range of 1.2929 - 1.2885 and the breakdown of the latter value should be accompanied by a pronounced downward movement. Here, the target is 1.2828. The potential value for the bottom is considered the level of 1.2789, after reaching which we expect consolidation, as well as a rollback to the correction.

The corrective movement is possible in the range of 1.2991 - 1.3015 and the breakdown of the last value will lead to a prolonged correction. Here, the target is 1.3068.

The main trend is the downward cycle of January 28.

Trading recommendations:

Buy: 1.2991 Take profit: 1.3015

Buy: 1.3017 Take profit: 1.3060

Sell: 1.2929 Take profit: 1.2888

Sell: 1.2883 Take profit: 1.2830

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For the currency pair Dollar / Franc, the key levels on the H1 scale are 1.0114, 1.0081, 1.0058, 1.0027, 1.0009, 0.9998 and 0.9978. Here, we are following the ascending structure of January 31. The continuation of the upward trend development is expected after the breakdown of 1.0027. In this case, the target is 1.0058 and in the range of 1.0058 - 1.0081 is the short-term upward movements, as well as consolidation. The potential value for the top is considered the level of 1.0114, upon reaching which we expect consolidation, as well as a rollback to the top.

The short-term downward movement is expected in the range of 1.0009 - 0.9998 and the breakdown of the latter value will lead to an in-depth correction. Here, the target is 0.9978.

The main trend is the ascending structure of January 31.

Trading recommendations:

Buy: 1.0027 Take profit: 1.0058

Buy: 1.0060 Take profit: 1.0080

Sell: 1.0009 Take profit: 0.9998

Sell: 0.9996 Take profit: 0.9978

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For the currency pair Dollar / Yen, the key levels on the scale of H1 are 111.32, 111.08, 110.66, 110.22, 109.64, 109.34 and 109.01. Here, we continue to monitor the ascending structure of January 31. The movement upwards is expected after the breakdown of 110.22. Here, the target is 110.66 and consolidation is near this level. The breakdown of the level of 110.66 must be accompanied by a pronounced upward movement. Here, the target is 111.08. The potential value for the top is considered the level of 111.32, upon reaching which we expect consolidation, as well as a rollback to the top.

The short-term downward movement is possible in the range of 109.64 - 109.34 and the breakdown of the latter value will lead to a prolonged correction. Here, the target is 109.01 and this level is the key support for the upward structure. Its breakdown will have to develop the downward structure. In this case, the first target is 108.48.

The main trend is the rising structure of January 31.

Trading recommendations:

Buy: 110.22 Take profit: 110.65

Buy: 110.68 Take profit: 111.08

Sell: 109.64 Take profit: 109.36

Sell: 109.32 Take profit: 109.03

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For the currency pair Canadian dollar / Dollar, the key levels on the H1 scale are 1.3313, 1.3274, 1.3257, 1.3226, 1.3206, 1.3176, 1.3152 and 1.3117. Here, we continue to monitor the development of the upward cycle from February 1 and expanded the potential to the level of 1.3313. The short-term upward movement, possibly in the range of 1.3206 - 1.3226 and the breakdown of the latter value should be accompanied by a pronounced upward movement. Here, the target is 1.3257 and in the range of 1.3257 - 1.3274 is the price consolidation. The potential value for the top is considered the level of 1.3313, after reaching which we expect a rollback to the correction.

The corrective movement is possible in the range of 1.3176 - 1.3152 and the breakdown of the latter value will lead to an in-depth correction. Here, the goal is 1.3117 and this level is the key support for the upward structure.

The main trend is the upward cycle from February 1.

Trading recommendations:

Buy: 1.3228 Take profit: 1.3255

Buy: 1.3276 Take profit: 1.3313

Sell: 1.3174 Take profit: 1.3154

Sell: 1.3150 Take profit: 1.3125

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For the currency pair Australian dollar / dollar, the key levels on the H1 scale are 0.7186, 0.7152, 0.7132, 0.7085, 0.7049, 0.7025 and 0.6977. Here, we are following the development of the downward structure of January 31. The downward movement is expected after the breakdown of 0.7085. In this case, the target is 0.7049 and in the range of 0.7049 - 0.7025 is the short-term downward movements, as well as consolidation. The potential value for the bottom is considered to be the level of 0.6977, a pronounced movement to which we expect after the breakdown of 0.7025.

The short-term upward movement is possible in the range of 0.7132 - 0.7152 and the breakdown of the latter value will lead to an in-depth correction. Here, the target is 0.7186 and this level is the key support for the downward structure.

The main trend is the downward cycle of January 31.

Trading recommendations:

Buy: 0.7132 Take profit: 0.7150

Buy: 0.7154 Take profit: 0.7184

Sell: 0.7083 Take profit: 0.7050

Sell: 0.7047 Take profit: 0.7027

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For the currency pair Euro / Yen, the key levels on the H1 scale are 125.98, 125.43, 125.11, 124.60, 124.33, 123.93, 123.61 and 123.22. Here, we are following the development of the downward structure of February 4. The short-term downward movement is expected in the range of 124.60 - 124.33 and the breakdown of the latter value will lead to the development of a downward cycle. In this case, the goal is 123.93 and in the range of 123.93 - 123.61 is the short-term downward movement and consolidation. The potential value for the bottom is considered the level of 123.22, from which the probability of a rollback to the correction is high.

The short-term upward movement is possible in the range of 125.11 - 125.43 and the breakdown of the latter value will have to form the ascending structure on the H1 scale. Here, the first potential target is 125.98.

The main trend is the downward structure of February 4.

Trading recommendations:

Buy: 125.11 Take profit: 125.40

Buy: 125.45 Take profit: 125.95

Sell: 124.60 Take profit: 124.35

Sell: 124.30 Take profit: 123.93

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For the currency pair Pound / Yen, the key levels on the H1 scale are 143.35, 142.86, 142.53, 141.84, 141.18, 140.38 and 139.80. Here, the price set the initial conditions for the development of a local downward cycle of February 4. We expect short-term downward movement in the range of 141.84 - 141.18 and the breakdown of the latter value should be accompanied by a pronounced downward movement. Here, the target is 140.38. The potential value for the bottom is considered the level of 139.80, 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 142.53 - 142.86 and the breakdown of the latter value will lead to a deep correction. Here, the target is 143.35 and this level is the key support for the bottom.

The main trend is the initial conditions for the downward cycle of February 4.

Trading recommendations:

Buy: 142.53 Take profit: 142.84

Buy: 142.88 Take profit: 143.35

Sell: 141.80 Take profit: 141.20

Sell: 141.15 Take profit: 140.45

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