Hello, dear traders!
The EUR/USD pair is expected to reach 1.2166. The key intraday support level is 1.2094. As for GBP/USD, the pair is likely to extend the upward movement after a breakout at 1.3910. The key support level is 1.3746. The USD/CHF pair is expected to continue falling after a breakout at 0.8886. The key downward support level is 0.8938. The USD/JPY pair is likely to extend the downward movement after a breakout at 104.52. The key intraday support level is 105.09. The upward trend on EUR/JPY will resume if the price breaks through 127.03. The key support level is seen at 126.48. The GBP/JPY pair will continue rising after a breakout at 145.24. The key intraday support level is 144.00.
Forecast for February 10:
Analytical overview of currency pairs on H1 chart:
The key levels on EUR/USD in the H1 time frame 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 uptrend since February 5. The price is expected to consolidate in the 1.2118 – 1.2133 corridor. A breakout at 1.2133 will lead to a stronger upward trend. The target is seen at 1.216. The price is likely to consolidate closer to this level. Meanwhile, if the price breaks through 1.2219, it can reach the 1.2219 target and consolidate. Then, a pullback may take place.
A breakout at 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 1.2068 – 1.2053 range.
The main trend is the upward trend that strated on 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
As for GBP/USD, the key levels in the H1 time frame are 1.3971, 1.3909, 1.3880. 1.3792, 1.3746, and 1.3698. The price has been moving upward since February 4. The uptrend will extend if the price breaks through the 1.3880 – 1.3909 range. In such a case, the target will be seen at 1.3971. If the pair reaches this level, a downward pullback may occur.
A short-term downward movement is expected in the 1.3792 – 1.3746 corridor. A breakout at 1.3746 will lead to a deeper correction. The target is seen at 1.3698, which is also the key upward support level.
The main trend is the upward trend that started on February 4.
Trading recommendations:
Buy: 1.3909; Take profit: 1.3970
Sell: 1.3790; Take profit: 1.3748
Sell: 1.3744; Take profit: 1.3698
As for the USD/CHF pair, the key levels in the H4 time frame 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. The trend will extend if the price breaks through the 0.8900 – 0.8886 range. The target is set at 0.8859 in the 0.8859 – 0.8846 corridor. A potential downward target is seen at 0.8827. If the price reaches this level, it is likely to consolidate and pull back.
A short-term upward movement is expected in the 0.8921 – 0.8938 corridor. A breakout at 0.8938 will lead to a deeper correction. 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 that started on 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
The key levels on 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 104.52. The target is set at 104.34. In the 104.34 – 104.20 corridor, the price is expected to consolidate. A potential downward target is seen at 103.91. The price can reach this level if it breaks through 104.20.
A short-term upward movement is expected in the 104.80 – 104.94 corridor. A breakout at 104.94 will lead to a deeper correction. In such a case, the target is seen at 105.09, which is also the key downward support level.
The main trend is the downward trend that started on 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
As for the CAD/USD pair, the key levels in the H1 time frame are 1.2891, 1.2851, 1.2822, 1.2783, 1.2749, 1.2683, 1.2650, and 1.2589. The upward trend will resume if the price breaks through 1.2749. Apart from that, if the price breaks through 1.2783, it can reach 1.2822. In the 1.2822 – 1.2851 corridor, a short-term upward movement and consolidation are expected. A potential upward target is seen at 1.2891. If the price reaches the target, it will possibly consolidate.
A short-term downward movement is expected in the 1.2683 – 1.2650 corridor. A breakout at 1.2650 is likely to lead to the development of the downward trend. In such a case, the target will be the level of 1.2589.
The main trend is the downward trend that started on 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
The key support levels on AUD/USD are 0.7824, 0.7784, 0.7766, 0.7741, 0.7702, 0.7683, 0.7660, and 0.7641. The price has been moving in an upward trend since February 2. The trend will extend after a breakout at 0.7741. The target is seen at 0.7766. In the 0.7766 – 0.7784 corridor, a short-term upward movement and consolidation are expected. A potential upward target is seen at 0.7824. If the price reaches the target, it will possibly pull back.
A short-term downward movement is expected in the 0.7702 – 0.7683 corridor. A breakout at 0.7683 is likely to lead to a deeper correction. In such a case, the target will be the level of 0.7660. The key upward support for the pair is in the 0.7660 – 0.7641 range.
The main trend is the upward trend that started on February 2
Trading recommendations:
Buy: 0.7741; Take profit: 0.7766
Buy: 0.7785; Take profit: 0.7824
Sell: 0.7702; Take profit: 0.7684
Sell: 0.7681; Take profit: 0.7660
The key support levels on EUR/JPY 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. The trend will extend after the price breaks through the 127.03 – 127.23 range. The target is seen at 127.56. In the 127.56 – 127.82 corridor, a short-term upward movement and consolidation are expected. A potential upward target is seen at 128.09. If the price reaches the target, it will possibly pull back.
The price can consolidate in the 126.70 – 126.48 corridor. 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 that started on February 4
Trading recommendations:
Buy: 127.25; Take profit: 127.55
Buy: 127.57; Take profit: 127.80
Sell: 126.44; Take profit: 126.04
As for the GBP/JPY pair, the key levels on the H1 chart are 146.44, 146.12, 145.66, 144.46, 144.00, 143.66, and 142.80. The local upward trend started on February 4. A short-term upward movement is expected in the 145.24 – 145.66 range. A breakout at 145.66 will lead to a stronger upward trend. The target is seen at 146.12. If the price reaches 146.44, it can consolidate and pull back.
A short-term downward movement is expected in the 144.46 – 144.00 corridor. Meanwhile, the key upward support is in the 144.00 – 143.66 range. If the price breaks through this range, the downward trend can start. In such a case, the target will be the level of 142.80.
The main trend is the upward trend that started on January 18, the local upward trend that started on February 4
Trading recommendations:
Buy: 145.26; 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
