FX.co ★ Fractal analysis of major currency pairs for December 24

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For the Euro / Dollar currency pair, the price forms the potential for a downward movement of December 20. For the Pound / Dollar currency pair, we should continue moving upwards after the breakdown of 1.2680. For the Dollar / Franc currency pair, the price forms the potential for the top of December 21 and the development of this structure is expected after the breakdown of 0.9961. For the currency pair Dollar / Yen, we continue to follow the development of the downward cycle of December 14. For the Euro / Yen currency pair, we have expanded the potential for a downward structure from December 13 to the level of 125.30. For the currency pair Pound / Yen, we expect the downward movement after the breakdown of 139.86.

Forecast for December 24:

Analytical review of H1-scale currency pairs:For the Euro / Dollar currency pair, the key levels on the H1 scale are 1.1437, 1.1405, 1.1384, 1.1347, 1.1321, 1.1305 and 1.1256. Here, we are watching the formation of the downward potential of December 20. A downward movement is expected after the breakdown of 1.1347. In this case, the goal is 1.1321 and in the range of 1.1321 - 1.1305 is the price consolidation. The potential value for the bottom is considered the level of 1.1256, a pronounced movement to which is expected after the breakdown of 1.1305.

The short-term upward movement is possible in the range of 1.1384 - 1.1405 and the breakdown of the latter value will lead to a prolonged correction. Here, the target is 1.1437 and this level is the key support for the bottom.

The main trend is the downward structure of December 20.

Trading recommendations:

Buy 1.1384 Take profit: 1.1403

Buy 1.1407 Take profit: 1.1435

Sell: 1.1345 Take profit: 1.1324

Sell: 1.1305 Take profit: 1.1260For the Pound / Dollar currency pair, the key levels on the H1 scale are 1.2865, 1.2813, 1.2741, 1.2679, 1.2592, 1.2552, 1.2517, 1.2475 and 1.2417. Here, we continue to follow the formation of the ascending structure of December 11. The continuation of the upward movement is expected after the breakdown of 1.2679. In this case, the goal is 1.2741 and near this level is the price consolidation. The breakdown of the level of 1.2741 should be accompanied by a pronounced upward movement. Here, the target is 1.2813. The potential value for the top is considered the level of 1.2865, upon reaching which we expect consolidation, as well as a rollback to the top.

The short-term downward movement, as well as consolidation, are possible in the range of 1.2592 - 1.2552. The breakdown of the latter value will lead to a prolonged correction. Here, the target is 1.2517 and this level is the key support for the top. Its price will have the formation of the initial conditions for the upward cycle. In this case, the target is 1.2475.

The main trend is the formation of the ascending structure of December 11, the stage of correction.

Trading recommendations:

Buy: 1.2680 Take profit: 1.2740

Buy: 1.2744 Take profit: 1.2813

Sell: 1.2591 Take profit: 1.2552

Sell: 1.2550 Take profit: 1.2517For the Dollar / Franc currency pair, the key levels on the H1 scale are 1.0029, 0.9993, 0.9978, 0.9961, 0.9919, 0.9905 and 0.9883. Here, we follow the formation of the ascending structure of December 21. An upward movement is expected after the breakdown of 0.9961. In this case, the target is 0.9978 and consolidation is near this level. The price passage of the range of 0.9978 - 0.9993 should be accompanied by a pronounced upward movement. Here, the target is 1.0029, upon reaching this level, we expect a rollback downwards.

The short-term downward movement is possible in the range of 0.9919 - 0.9905. The breakdown of the latter value will lead to a prolonged correction. Here, the target is 0.9883 and this level is the key support for the downward structure.

The main trend is the formation of the ascending structure of December 21.

Trading recommendations:

Buy: 0.9961 Take profit: 0.9976

Buy: 0.9995 Take profit: 1.0025

Sell: 0.9919 Take profit: 0.9908

Sell: 0.9903 Take profit: 0.9885

For the Dollar / Yen currency pair, the key levels on the scale are 112.06, 111.59, 111.34, 110.99, 110.65 and 110.30. Here, we continue to monitor the downward structure of December 14. The short-term downward movement is expected in the range of 110.99 - 110.65 and the breakdown of the latter value will lead to a movement to the potential target. In this case, the target is 110.30 and we expect a rollback to the top from this level.

The short-term upward movement is possible in the range of 111.34 - 111.59 and the breakdown of the latter value will lead to a prolonged correction. Here, the target is 112.06 and this level is the key support for the downward structure of December 14.

The main trend is the downward structure of December 14.

Trading recommendations:

Buy: 111.34 Take profit: 111.57

Buy: 111.63 Take profit: 112.00

Sell: 110.99 Take profit: 110.67

Sell: 110.62 Take profit: 110.30

For the Canadian dollar / Dollar currency pair, the key levels on the H1 scale are 1.3741, 1.3667, 1.3621, 1.3557, 1.3516 and 1.3463. Here, we are following the development of the bottom-up structure from December 7th. The short-term upward movement is expected in the range of 1.3621 - 1.3667 and the breakdown of the last value will allow expecting a movement towards a potential target of 1.3741, upon reaching this level, we expect a rollback downwards.

The short-term downward movement is possible in the range of 1.3557 - 1.3516 and the breakdown of the latter value will lead to an in-depth correction. Here, the target is 1.3453 and this level is the key support for the top.

The main trend is the local structure for the top of December 7th.

Trading recommendations:

Buy: 1.3621 Take profit: 1.3665

Buy: 1.3670 Take profit: 1.3740

Sell: 1.3555 Take profit: 1.3518

Sell: 1.3514 Take profit: 1.3465

For the Australian dollar / dollar currency pair, the key levels on the H1 scale are 0.7148, 0.7115, 0.7075, 0.7049, 0.7015, 0.6997, 0.6954 and 0.6919. Here, we follow the development of the downward structure of December 13. We expect the downward movement to continue after the price passes the range of 0.7015 - 0.6997. In this case, the target is 0.6954. The potential value for the bottom is considered the level of 0.6919, upon reaching which we expect a rollback to the top.

The short-term uptrend is possible in the range of 0.7049 - 0.7075 and the breakdown of the latter value will lead to a prolonged correction. Here, the target is 0.7115 and this level is the key support for the downward structure. Its breakdown will have to form an upward structure. Here, the potential target is 0.7148.

The main trend is the downward structure of December 4.

Trading recommendations:

Buy: 0.7050 Take profit: 0.7073

Buy: 0.7077 Take profit: 0.7115

Sell: 0.6995 Take profit: 0.6958

Sell: 0.6952 Take profit: 0.6921

For the Euro / Yen currency pair, the key levels on the H1 scale are 127.48, 127.00, 126.68, 126.14, 125.89 and 125.30. Here, we follow the development of the downward structure of December 13. The short-term downward movement is expected in the range of 126.14 - 125.89 and the breakdown of the latter value will lead to a movement to the potential target. In this case, the target is 125.30 and we expect a rollback to the top from this level.

The short-term upward movement is possible in the range of 126.68 - 127.00 and the breakdown of the latter value will lead to a prolonged correction. Here, the goal is 127.48 and this level is the key support for the downward structure.

The main trend is the downward structure of December 13.

Trading recommendations:

Buy: 126.68 Take profit: 127.00

Buy: 127.03 Take profit: 127.40

Sell: 126.14 Take profit: 125.92

Sell: 125.87 Take profit: 125.35

For the Pound / Yen currency pair, the key levels on the H1 scale are 142.09, 141.30, 140.92, 140.22, 139.86 and 139.15. Here, we follow the development of the downward structure of December 13. The short-term downward movement is expected in the range of 140.22 - 139.86 and the breakdown of the latter value will lead to a movement to the potential target of 139.15. From the level of 139.15, we expect a roll back up.

The short-term uptrend is possible in the range of 140.92 - 141.30 and the breakdown of the last value will lead to a deep correction. Here, the goal is 142.09 and this level is the key support for the bottom. Its price passage will have to form the initial conditions for the upward cycle. In this case, the goal is 142.73.

The main trend is the downward structure of December 13.

Trading recommendations:

Buy: 140.92 Take profit: 141.25

Buy: 141.35 Take profit: 142.05

Sell: 140.20 Take profit: 139.90

Sell: 139.83 Take profit: 139.20