Fractal analysis for major pairs on December 4

Outlook on December 4:

Analytical overview of major pairs on the H1 TF:

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The key levels for the euro/dollar pair are 1.2201, 1.2157, 1.2123, 1.2090, 1.2067 and 1.2027. The ascending trend from November 23 is being followed here. Now, a consolidated movement is expected in the range of 1.2123 - 1.2157, hence a key reversal into a downward correction is expected. On the other hand, the level 1.2201 (limit) will be considered as the upward potential target, however, we consider the movement to it as unstable.

A short-term decline, in turn, is possible in the range of 1.2090 - 1.2067. In case that the last value breaks down, a deeper correction may occur. The target here is 1.2027, which is the key support level on the upside.

The main trend is the local upward structure of November 23

Trading recommendations:

Buy: Take profit:

Buy: 1.2158 Take profit: 1.2200

Sell: 1.2090 Take profit: 1.2068

Sell: 1.2065 Take profit: 1.2030

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The key levels for the pound/dollar pair are 1.3718, 1.3662, 1.3580, 1.3516, 1.3420, 1.3369, 1.3338 and 1.3286. Here, the price is forming a potential upward trend from December 2. Therefore, we can expect the pair to resume growth after breaking through the level of 1.3516. In this case, the target is 1.3580 and price consolidation is near this level. If this target breaks down, a strong upward movement will develop. In this case, the next target is 1.3662. For the potential target above, we consider the level of 1.3718. Upon reaching which, price consolidation and downward pullback is expected.

Meanwhile, the continuation of a corrective movement is expected after the level of 1.3420 breaks down. Here, the target is 1.3369. The upward key support is found in the range 1.3369 - 1.3338 and the price passing this will encourage the resumption of a downward trend. In this case, the first potential target is 1.3286.

The main trend is the formation of potential upward trend from December 2

Trading recommendations:

Buy: 1.3516 Take profit: 1.3580

Buy: 1.3582 Take profit: 1.3660

Sell: 1.3418 Take profit: 1.3370

Sell: 1.3337 Take profit: 1.3286

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The key levels for the dollar/franc pair are 0.8975, 0.8947, 0.8928, 0.8901, 0.8868, 0.8849 and 0.8804. The development of the downward trend from November 30 is closely monitored here. In this regard, we expect the decline to continue after breaking through the level of 0.8900. In this case, the target is 0.8868, while price consolidation is in the range of 0.8868 - 0.8849. For the potential target on the downside, the level of 0.8804 is considered. An upward pullback can be expected after this level is reached.

On the other hand, short-term growth is possible in the range of 0.8928 - 0.8947. If the last value breaks down, a deep correction will occur. The target here is 0.8975, which is the key support level for the local downward trend from November 30.

The main trend is the local downward trend of November 30

Trading recommendations:

Buy : 0.8928 Take profit: 0.8946

Buy : 0.8948 Take profit: 0.8975

Sell: 0.8900 Take profit: 0.8868

Sell: 0.8848 Take profit: 0.8805

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The key levels for the dollar/yen are 104.77, 104.52, 104.27, 104.11, 103.64, 103.44, 103.30, 102.89 and 102.59. The price here is forming a potential downward trend from December 2. Therefore, the downward movement is expected to continue after breaking through the level of 103.64. In this case, the target is 103.44. There is consolidation near this level. On the other hand, the price overcoming the noise range of 103.44 - 130.30 will lead to the resumption of further decline. In this case, the target is 102.89. For the potential target below, the level 102.59 is considered. Price consolidation and upward pullback is expected upon reaching this level.

In turn, short-term rise is possible in the range of 104.11 - 104.27. If the last value breaks down, it will lead to a deep correction. The target here is 104.52, which is the key support level for the downward trend from December 2.

The main trend is the downward trend from December 2

Trading recommendations:

Buy: 104.11 Take profit: 104.26

Buy : 104.28 Take profit: 104.50

Sell: 103.64 Take profit: 103.45

Sell: 103.30 Take profit: 102.90

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The key levels for the USD/CAD pair are 1.2934, 1.2898, 1.2879, 1.2846, 1.2817, 1.2799 and 1.2763. Here, we are following the upward trend from November 30. Against this background, the pair is expected to continue declining after breaking through the level of 1.2846. In this case, the target is 1.2817. Price consolidation is in the range of 1.2817 - 1.2799. For the downward potential target, the level of 1.2763 is considered. Upon reaching which, upward pullback is expected.

A short-term growth, in turn, is possible in the range of 1.2879 - 1.2898. If the last value breaks down, a deep correction will follow. The target here is 1.2934, which is the key support level for the downward trend from November 30.

The main trend is the formation of a local downward trend from November 30

Trading recommendations:

Buy: 1.2879 Take profit: 1.2897

Buy : 1.2900 Take profit: 1.2934

Sell: 1.2844 Take profit: 1.2817

Sell: 1.2799 Take profit: 1.2764

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The key levels for the AUD/USD pair are 0.7534, 0.7513, 0.7477, 0.7449, 0.7408, 0.7378, 0.7359 and 0.7332. Here, we are following the local bullish trend from November 23. Thus, short-term growth is expected in the range of 0.7449 - 0.7477. In case that the last value breaks down, it will lead to a strong growth. The target here is 0.7513. For the upward potential value, we consider the level of 0.7534. Price consolidation and downward pullback is expected after this level is reached.

Meanwhile, leaving into a correction is expected after the breakdown of 0.7408. The target is 0.7378. On the other hand, the range of 0.7378 - 0.7359 is the key support for the upward trend and the price passing this level will encourage the formation of initial conditions for a downward trend. In this case, the potential target is 0.7332.

The main trend is the upward trend from November 23

Trading recommendations:

Buy: 0.7450 Take profit: 0.7475

Buy: 0.7478 Take profit: 0.7513

Sell : 0.7406 Take profit : 0.7380

Sell: 0.7357 Take profit: 0.7332

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The key levels for the euro/yen pair are 127.14, 126.80, 126.56, 126.26, 126.04 and 125.70. The local upward trend from November 27 is being followed here. In this regard, a short-term rise is expected in the range of 126.56 - 126.80. Given that the last value breaks down, it will allow us to move to the next potential target - 127.14. Upon reaching this level, a downward pullback can be expected.

On the other hand, a short-term decline is possible in the range of 126.26 - 126.04. The breakdown of the last value will lead to a deep correction. The potential target here is 125.70.

The main trend is the local upward trend of November 27

Trading recommendations:

Buy: 126.57 Take profit: 126.80

Buy: 126.82 Take profit: 127.14

Sell: 126.26 Take profit: 126.05

Sell: 126.03 Take profit: 125.72

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The key levels for the pound/yen pair are 141.06, 140.63, 140.32, 139.87, 139.40, 139.14, 138.72 and 138.28. Here, we are following the upward trend from November 27. In view of this, growth is expected to continue after the breakdown of 139.87. In this case, the target is 140.32. Meanwhile, there is a short-term rise and consolidation in the range of 140.32 - 140.63. For the upward potential value, we consider the level of 141.06. Upon reaching which, a downward pullback is likely.

A short-term decline, in turn, is possible in the range of 139.40 - 139.14. If the last value breaks down, it will lead to a deep correction. The target here is 138.72, which is a key support level for the upward trend.

The main trend is the upward trend for the November 27 high

Trading recommendations:

Buy: 139.88 Take profit: 140.32

Buy: 140.33 Take profit: 140.62

Sell: 139.40 Take profit: 139.15

Sell: 139.10 Take profit: 138.74

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