FX.co ★ Fractal analysis of the major Forex market pairs.

EUR/USD

The correction on the Euro is continuing, as it was expected. Now we can observe the standard figure triangle, so there is a good opportunity to enter. The movement can be both downwards and upwards. The purchase targets are 1.4826, 1.4856, 1.4911 and 1.4975. The sales goals are not limited - 1.4609, 1.4571, 1.4504 and 1.4395.

Trading recommendations:
- to enter at the breaking out of the triangle (it is necessarily to wait for the confirmation) with targets, mentioned above.

GBP/USD

The situation as to the pound is the same, but here the initial conditions for bulls structure are forming now. More likely that the breach of the triangle will be for the uptrend.

Trading recommendations:
- to enter for breaking out with the targets at 1.6375 and 1.6455.

USD/JPY

The initial conditions for correctional structure are forming on this currency pair, which corresponds to other pairs. The decline will have been continuing till the reversal level, from which we are going to start buying.

Trading recommendations:
to sell after the breach of 87.36 with the targets of 86.56 and 86.06.

Alternative:
- at the breach upwards, we are looking for the renewal of the ascendant trend.

Best regards,

Analyst: A. Portnov.