Fractal analysis of major currency pairs on February 12

Outlook on February 12:

Analytical review of popular currency pairs on the hourly chart:

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The key levels for the EUR/USD pair are 1.2219, 1.2197, 1.2166, 1.2133, 1.2118, 1.2094, 1.2068 and 1.2053. The price has been moving in the upward trend since February 5. Thus, we expect it to consolidate in the range of 1.2118-1.2133. The breakdown of the last value will lead to a stronger upward trend, with the target set at 1.2166, The price is likely to consolidate closer to this level. Meanwhile, if the price breaks through the target, it can reach the level of 1.2219 and consolidate. After that, a downward pullback may occur.

A breakout of 1.2094 is likely to lead to a correction. In such a case, the target is seen at 1.2068. The key upward support is in the range of 1.2068 - 1.2053.

The main trend is the upward trend from February 5.

Trading recommendations:

Buy: 1.2135 Take profit: 1.2164

Buy: 1.2168 Take profit: 1.2195

Sell: 1.2093 Take profit: 1.2070

Sell: Take profit:

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The key levels for the GBP/USD pair are 1.3971, 1.3909, 1.3880. 1.3792, 1.3746 and 1.3698. The price has been rising since February 4. This growth will continue if the price breaks through the range of 1.3880 - 1.3909. In such a case, the target will be seen at 1.3971. If the pair reaches this level, a downward pullback may occur.

Meanwhile, a short-term decline is expected in the range of 1.3792-1.3746. If the last value breaks down, a deeper correction will be possible. The target is seen at 1.3698, which is also the key upward support level.

The main trend is the upward trend from February 4.

Trading recommendations:

Buy: 1.3909 Take profit: 1.3970

Buy: Take profit:

Sell: 1.3790 Take profit: 1.3748

Sell: 1.3744 Take profit: 1.3698

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The key levels for the USD/CHF pair are 0.8961, 0.8938, 0.8921, 0.8900, 0.8886, 0.8859, 0.8846 and 0.8827. The price has been moving in a downward trend since February 5. In this case, we expect the trend to resume if the price breaks through the range of 0.8900 - 0.8886. The target is set at 0.8859 in the range 0.8859 - 0.8846. A potential downward target is seen at 0.8827. If the price reaches this level, it is likely to consolidate and pull back upwards.

On another note, a short-term growth is expected in the range of 0.8921 - 0.8938. Once the last value breaks down, a deeper correction will occur. In such a case, the target is seen at 0.8960, which is also the key downward support level.

The main trend is the downward trend from February 5.

Trading recommendations:

Buy: 0.8921 Take profit: 0.8936

Buy: 0.8940 Take profit: 0.8960

Sell: 0.8885 Take profit: 0.8860

Sell: 0.8844 Take profit: 0.8828

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The key levels for the USD/JPY are 105.09, 104.94, 104.80, 104.52, 104.34, 104.20 and 103.91. The price has been moving in a downward trend since February 5. The trend will extend if the price breaks through the level of 104.52. The target is set at 104.34. After that, the price may consolidate in the range of 104.34 - 104.20. A potential downward target is located at 103.91. The price can reach this level if it breaks through 104.20.

A short-term growth is expected in the range of 104.80-104.94. The breakdown of the last value will lead to a deeper correction. If this happens, the target can be noted at 105.09, which is also the key downward support level.

The main trend is the downward trend from February 5.

Trading recommendations:

Buy: 104.80 Take profit: 104.93

Buy: 104.95 Take profit: 105.09

Sell: 104.52 Take profit: 104.35

Sell: 104.20 Take profit: 103.94

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The key levels for the USD/CAD pair are 1.2891, 1.2851, 1.2822, 1.2783, 1.2749, 1.2683, 1.2650 and 1.2589. The upward trend will continue if the price breaks through the level of 1.2749. Moreover, if it also breaks through 1.2783, it can reach 1.2822 level. A short-term growth and consolidation are expected in the range of 1.2822-1.2851. A potential upward target is seen at 1.2891. If the price reaches the target, it will possibly consolidate.

A short-term decline, on the contrary, is expected in the range of 1.2683 - 1.2650. If the last value is broken, the downward trend will possibly develop. In such a case, the target will be the level of 1.2589.

The main trend is the downward trend from January 28.

Trading recommendations:

Buy: 1.2749 Take profit: 1.2780

Buy: 1.2783 Take profit: 1.2822

Sell: 1.2681 Take profit: 1.2652

Sell: 1.2648 Take profit: 1.2590

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The key levels for the AUD/USD pair are 0.7841, 0.7824, 0.7784, 0.7766, 0.7729, 0.7702 and 0.7683. The price has been moving in an upward trend since February 2. This will most likely extend after the breakdown of 0.7766. A short-term upward movement and consolidation are expected in the range of 0.7766 - 0.7784. A strong growth will follow, which will lead the price to the target 0.7824. A potential upward target is seen at 0.7841. If the price reaches the target, a downward pullback will occur.

A breakout of 0.7729 is likely to lead to a correction. The target is set at 0.7702. The key support is seen in the range of 0.7702 - 0.7683. The price overcoming it will extend the downward trend. In this case, the potential target is 0.7641.

The main trend is the upward trend from February 2.

Trading recommendations:

Buy: 0.7767 Take profit: 0.7783

Buy: 0.7785 Take profit: 0.7824

Sell: 0.7729 Take profit: 0.7702

Sell: 0.7681 Take profit: 0.7650

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The key levels for the EUR/JPY pair are 128.09, 127.82, 127.56, 127.23, 127.03, 126.70, 126.48 and 126.04. The price has been moving in an upward trend since February 4. Therefore, we expect it to continue after the price breaks through the 127.03 - 127.23 range. The target is seen at 127.56. Meanwhile, a short-term growth and consolidation are expected in the range of 127.56 - 127.82. A potential upward target is seen at 128.09. If the price reaches the target, it will possibly pull back down.

The price can consolidate in the range of 126.70 - 126.48. A breakout at the level of 126.48 will lead to the beginning of the downward trend. A potential target is seen at 126.04.

The main trend is the upward trend from February 4.

Trading recommendations:

Buy: 127.25 Take profit: 127.55

Buy: 127.57 Take profit: 127.80

Sell: Take profit:

Sell: 126.46 Take profit: 126.04

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The key levels for the GBP/JPY pair are 146.44, 146.12, 145.66, 144.46, 144.00, 143.66 and 142.80. The price has been moving in an upward trend since February 4. In this case, we expect a short-term growth in the range of 145.24 - 145.66. Once the last value is broken, strong growth will follow. The target is set at 146.12. The potential upward target is located at 146.44. If the price reaches this target, it may consolidate and pullback downwards.

In turn, a short-term decline is expected in the range of 144.46 - 144.00. The key support is the range of 144.00 - 143.66. If the price overcomes this range, the downward trend will continue to develop. The potential target is 142.80.

The main trend is the upward trend from January 18, the local upward trend from February 4

Trading recommendations:

Buy: 145.25 Take profit: 145.66

Buy: 145.68 Take profit: 146.12

Sell: 144.44 Take profit: 144.02

Sell: 143.64 Take profit: 142.80

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