Outlook on March 15:
Analytical review of popular currency pairs on the hourly chart:
The key levels for the EUR/USD pair are 1.2155, 1.2107, 1.2047, 1.2000, 1.1948, 1.1915, 1.1873 and 1.1836. The price has been moving in a bullish trend since March 9. We expect this trend to resume after the level of 1.2000 is broken. The target is set at 1.2047. The price may consolidate around this level. If the level of 1.2050 breaks down, strong growth will continue to the next target of 1.2107. Another price consolidation can be expected around it. The final potential upward target is seen at 1.2155. After reaching this level, the price may pull back downwards.
A short-term decline, in turn, is likely in the 1.1948 - 1.1915 range. If the last value breaks down, a prolonged correction will occur. The target is set at 1.1873, which is also the key support level.
The main trend is the upward trend from March 9.
Trading recommendations:
Buy: 1.2000 Take profit: 1.2045
Buy: 1.2050 Take profit: 1.2107
Sell: 1.1946 Take profit: 1.1918
Sell: 1.1913 Take profit: 1.1877
The key levels for the GBP/USD pair are 1.4161, 1.4129, 1.4085, 1.4019, 1.3941, 1.3904 and 1.3854. The price has been ascending since March 5. In this case, we expect growth to resume after the level of 1.4019 is broken. The target is set at 1.4085. The price may consolidate near this level. Once this target is broken, the movement will continue towards a potential target set at 1.4161. After reaching it, a consolidated movement and downward pullback can be expected.
The price is expected to consolidate in the range of 1.3941 - 1.3904. If the level of 1.3904 breaks down, a deep correction will occur. The target is set at 1.3854, which is also the key support level.
The main trend is the upward trend from March 5.
Trading recommendations:
Buy: 1.4020 Take profit: 1.4085
Buy: 1.4087 Take profit: 1.4129
Sell: 1.3940 Take profit: 1.3906
Sell: 1.3902 Take profit: 1.3860
The key levels for the USD/CHF pair are 0.9379, 0.9310, 0.9272, 0.9230, 0.9206, 0.9159, 0.9127 and 0.9059. The price has been moving in a bearish trend since March 9. Therefore, we expect this trend to continue after the price breaks through the 0.9230 - 0.9206. The target is set at 0.9159. On the other hand, a short-term decline and consolidation are seen in the range of 0.9159 - 0.9127. The ultimate potential downward target is 0.9059. After reaching it, an upward pullback is possible.
Meanwhile, a price consolidation is possible in the range of 0.9274 - 0.9310. If the last value breaks down, a potential for an upward trend will be formed. The first target is set at 0.9379.
The main trend is the formation of a downward trend from March 9.
Trading recommendations:
Buy: Take profit:
Buy: 0.9312 Take profit: 0.9377
Sell: 0.9206 Take profit: 0.9164
Sell: 0.9158 Take profit: 0.9128
The key levels for the USD/JPY are 109.97, 109.40, 108.56, 108.04 and 107.39. The price has been moving in a bullish trend since February 23. Therefore, we expect a short-term growth in the range of 109.40 - 109.97, from which a pullback into a correction is possible.
On the other hand, a short-term decline can be expected in the 108.56 - 108.04 range. If the level of 108.04 breaks down, a deep correction will occur. The target is set at 107.39, which is also the key support level.
The main trend is the upward trend from February 23, correction is expected.
Trading recommendations:
Buy: 109.40 Take profit: 109.95
Buy: Take profit:
Sell: 108.54 Take profit: 108.06
Sell: 108.02 Take profit: 107.40
The key levels for the USD/CAD pair are 1.2576, 1.2535, 1.2505, 1.2456, 1.2430, 1.2388 and 1.2353. The price has been moving in a downward trend since March 5. Against this background, we expect the decline to continue after the price breaks through the 1.2456 - 1.2430 range. If so, the target will be set at 1.2388 and the price may consolidate near it. The final potential downward target is set at 1.2353. After reaching it, an upward pullback can be expected.
A short-term growth is possible in the range of 1.2505 - 1.2535. If the last value breaks down, a deep correction will occur. The target is set at 1.2576, which is also the key support level.
The main trend is the downward trend from March 5.
Trading recommendations:
Buy: 1.2505 Take profit: 1.2535
Buy: 1.2537 Take profit: 1.2576
Sell: 1.2430 Take profit: 1.2390
Sell: 1.2387 Take profit: 1.2355
The key levels for the AUD/USD pair are 0.7884, 0.7814, 0.7696, 0.7646, 0.7576, 0.7498, 0.7450 and 0.7352. The price is in a deep correction from the downward trend on February 25. In this context, a short-term decline can be expected in the range of 0.7696 - 0.7646. Once the last value is broken, a strong decline will continue towards the first target of 0.7576. The price may consolidate around this level. If this target breaks down, the movement will resume to the next target of 0.7498. After that, a short-term decline and consolidation can be expected in the range of 0.7498 - 0.7450. The ultimate potential downward target is set at 0.7352. After reaching this level, the price may pullback upwards.
The price breaking through the key support level of 0.7814 will lead to the formation of an upward trend. The potential target is set at 0.7884.
The main trend is the downward trend from February 25, correction stage.
Trading recommendations:
Buy: 0.7814 Take profit: 0.7882
Buy: Take profit:
Sell: 0.7695 Take profit: 0.7648
Sell: 0.7644 Take profit: 0.7576
The key levels for the EUR/JPY pair are 131.48, 131.19, 130.78, 130.57, 130.18, 129.89, 129.54 and 129.11. The price has been moving in a bullish trend since March 2. In this case, we expect a short-term growth with consolidation in the range of 130.57 - 130.78. Given that the last value breaks down, strong growth will continue towards the target of 130.19. The final potential upward target is set at 131.48, from which a downward pullback may occur.
A short-term decline, in turn, is expected in the 130.18 - 129.89 range. Once the level of 129.89 breaks down, a deep correction can be expected. The target is set at 129.54, which is also the key support level. The price breaking through it will favor the development of a downward trend. The first potential target is set at 129.11.
The main trend is the local upward trend from March 2.
Trading recommendations:
Buy: 130.78 Take profit: 131.19
Buy: 131.24 Take profit: 131.48
Sell: 130.18 Take profit: 129.92
Sell: 129.86 Take profit: 129.55
The key levels for the GBP/JPY pair are 154.15, 153.25, 152.70, 151.26, 150.59, 149.86 and 148.86. The price has been moving in an upward trend since February 26. Now, we expect it to reach the level of 152.70. After that, a short-term growth can be expected in the range of 152.70 - 153.25. The final upward target is set at 154.15. Once this level is reached, a downward pullback may occur.
The price may adjust after the level of 151.26 is broken. The target is set at 150.59. This can be followed by a price consolidation in the 150.59 - 149.86 range. If the last value breaks down, the downward trend will develop. The potential target is set at 148.86.
The main trend is the upward trend from February 26.
Trading recommendations:
Buy: 152.70 Take profit: 153.25
Buy: 153.27 Take profit: 154.15
Sell: 151.25 Take profit: 150.62
Sell: 150.57 Take profit: 149.90
