Fractal analysis for major currency pairs as of December 24

Hello, dear colleagues.

For the Euro/Dollar pair, we follow the development of the downward cycle from December 13 and the level of 1.1044 is the key resistance. For the Pound/Dollar pair, the continuation of the downward movement is expected after the breakdown of 1.2900 and the level of 1.3035 is the key support. For the Dollar/Franc pair, the price has issued expressed initial conditions for the top of December 19. For the Dollar/Yen pair, the price forms mid-term initial conditions for the high from December 12; the level of 109.62 is the key resistance and the level of 109.08 is the key support. For the Euro/Yen pair, we expect the continuation of the downward cycle from December 13 after the breakdown of 121.00 and the level of 121.69 is the key support. For the Pound/Yen pair, we expect to reach the level of 140.31 and the level of 141.96 is the key support.

Forecast for December 24:

Analytical review of currency pairs on the H1 scale:

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For the Euro/Dollar pair, the key levels on the H1 scale are 1.1134, 1.1107, 1.1090, 1.1059, 1.1044, 1.1021, and 1.0990. We follow the development of the downward cycle of December 13. The short-term downward movement is expected in the range of 1.1059-1.1044. The breakdown of the last value will lead to a movement to the level of 1.1021, near this level is a consolidation and hence a high probability of a reversal into a correction. We consider the level of 1.0990 as a potential value for the bottom.

The short-term upward movement is expected in the range of 1.1090-1.1107 and the breakdown of the last value will lead to an in-depth correction. The target is 1.1134.

The main trend is the downward cycle from December 13.

Trading recommendations:

Buy: 1.1090 Take profit: 1.1107

Buy: 1.1109 Take profit: 1.1130

Sell: 1.1057 Take profit: 1.1045

Sell: 1.1043 Take profit: 1.1022

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For the Pound/Dollar pair, the key levels on the H1 scale are 1.3108, 1.3035, 1.2982, 1.2901, and 1.2827. We follow the development of the downward cycle of December 13. The continuation of the downward movement is expected after the breakdown of 1.2901. The potential target is 1.2827, from this level, we expect a pullback to the correction.

The short-term upward movement is possible in the area of 1.2982-1.3035 and the breakdown of the last value will lead to a protracted correction. The target is 1.3108 and this level is the key support for the downward structure.

The main trend is the downward cycle from December 13.

Trading recommendations:

Buy: 1.2982 Take profit: 1.3033

Buy: 1.3037 Take profit: 1.3108

Sell: Take profit 1.2900: 1.2830

Sell: Take profit:

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For the Dollar/Franc pair, the key levels on the H1 scale are 0.9917, 0.9895, 0.9879, 0.9854, 0.9835, 0.9799, 0.9785, and 0.9768. The price has issued expressed initial conditions for the top of December 19. We expect the continuation of the upward movement after the breakout of 0.9835. In this case, the target is 0.9854 and near this level is the consolidation. The breakout of the level of 0.9855 will lead to a pronounced movement. The target is 0.9879 and in the area of 0.9879-0.9895 is the short-term upward movement, as well as consolidation. We consider the level of 0.9917 as a potential value for the top, from which we expect a pullback to the bottom.

A short-term downward movement is possible in the area of 0.9799-0.9785 and the breakdown of the last value will lead to the cancellation of the upward structure from December 19. In this case, the first target is 0.9768.

The main trend is the initial conditions for the top of December 19.

Trading recommendations:

Buy: 0.9835 Take profit: 0.9852

Buy: 0.9856 Take profit: 0.9877

Sell: 0.9799 Take profit: 0.9787

Sell: 0.9783 Take profit: 0.9768

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For the Dollar/Yen pair, the key levels in the H1 scale are 110.52, 110.20, 109.96, 109.62, 109.23, 109.08, and 108.85. We follow the formation of the initial conditions for the top of December 12. The continuation of the upward movement is expected after the breakdown of 109.62. In this case, the target is 109.96 and in the area of 109.96-110.20 is the short-term upward movement, as well as consolidation. We consider the level of 110.52 as a potential value for the top, upon reaching which, we expect a pullback in the correction.

The short-term downward movement is expected in the range of 109.23-109.08 and the breakdown of the last value will lead to an in-depth correction. The target is 108.85 and this level is the key support for the upward structure from December 12.

Main trend: initial conditions for the top of December 12.

Trading recommendations:

Buy: 109.63 Take profit: 109.96

Buy: 109.98 Take profit: 110.20

Sell: 109.23 Take profit: 109.08

Sell: 109.06 Take profit: 108.85

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For the Canadian dollar/Dollar pair, the key levels on the H1 scale are 1.3256, 1.3217, 1.3196, 1.3146, 1.3118, 1.3094, and 1.3034. The price has issued a pronounced potential for the top of December 18. The continuation of the upward movement is expected after the break of 1.3160. The target is 1.3196. The range of 1.3196-1.3217 is the key support for the downward structure. Its passage at the price will favor the development of the upward movement. The potential target is 1.3256.

A short-term downward movement is possible in the area of 1.3118-1.3094 and the breakdown of the last value should be accompanied by a pronounced movement. The potential target is 1.3034.

The main trend is the expressed potential for the top of December 18.

Trading recommendations:

Buy: 1.3160 Take profit: 1.3196

Buy: 1.3218 Take profit: 1.3252

Sell: 1.3118 Take profit: 1.3096

Sell: 1.3092 Take profit: 1.3040

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For the Australian dollar/Dollar pair, the key levels on the H1 scale are 0.6975, 0.6957, 0.6944, 0.6929, 0.6907, 0.6895, and 0.6881. We follow the development of the upward cycle of December 18. The continuation of the upward movement is expected after the breakdown of 0.6930. In this case, the target is 0.6944 and in the area of 0.6944-0.6957 is the short-term upward movement, as well as consolidation. We consider the level of 0.6975 as a potential value for the top, upon reaching which, we expect a pullback to the bottom.

The short-term downward movement is expected in the range of 0.6907-0.6895 and the breakdown of the last value will lead to an in-depth correction. The target is 0.6881 and this level is the key support for the top.

The main trend is the local upward cycle from December 18.

Trading recommendations:

Buy: 0.6930 Take profit: 0.6944

Buy: 0.6945 Take profit: 0.6956

Sell: 0.6907 Take profit: 0.6896

Sell: 0.6894 Take profit: 0.6881

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For the Euro/Yen pair, the key levels on the H1 scale are 122.04, 121.69, 121.45, 121.00, 120.52, and 120.22. We follow the downward structure of December 13. The continuation of the downward movement is expected after the breakdown of 121.00. In this case, we expect a pronounced movement to the level of 120.52. We consider the level of 120.22 as a potential value for the bottom, near which we expect consolidation, as well as a pullback in the correction.

A short-term upward movement is possible in the area of 121.45-121.69 and the breakdown of the last value will lead to an in-depth correction. The target is 122.04 and this level is the key support for the downward structure.

The main trend is the downward cycle from December 13.

Trading recommendations:

Buy: 121.45 Take profit: 121.66

Buy: 121.72 Take profit: 122.04

Sell: 121.00 Take profit: 120.55

Sell: 120.50 Take profit: 120.22

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For the Pound/Yen pair, the key levels on the H1 scale are 143.48, 142.52, 141.96, 140.31, 139.34, and 138.45. We follow the development of the downward cycle of December 13. At the moment, we expect to reach the level of 140.31, near which consolidation and hence, there is also a high probability of going into a correction. The breakdown of 140.20 will allow us to count on the movement to 139.34, from which we expect a pullback to the top.

The short-term upward movement is possible in the area of 141.96-142.52 and the breakdown of the last value will lead to an in-depth correction. The target is 143.48 and this level is the key support for the downward cycle of December 13.

The main trend is the downward cycle from December 13.

Trading recommendations:

Buy: 141.96 Take profit: 142.50

Buy: 142.55 Take profit: 143.45

Sell: 140.20 Take profit: 139.40

Sell: Take profit:

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