Fractal analysis for major currency pairs as of May 10

Dear colleagues.

For the EUR / USD pair, we expect a movement towards correction after the breakdown of 1.1902. For the GBP / USD pair, we expect a correction to take place after the breakdown at 1.3614. For the of USD / CHF, the continuation of the to downward movement is expected after the breakdown of 0.9976. For the USD / JPY pair, the price forms the potential for the upward movement of May 4. For the EUR / JPY pair, the price is in correction and forms the potential for the top of May 8. For the GBP / JPY pair, the price forms the potential for the top of May 8.

Forecast for May 10:

Analytical review of currency pairs in the scale of H1:

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For the of EUR / USD pair, the key levels on the scale of H1 are: 1.2013, 1.1987, 1.1936, 1.1902 and 1.1844. Here, we follow the downward structure of April 17. At the moment, the price is near the limit values and we expect a correction. Short-term upward movement is possible in the area of 1.1902 - 1.1936. The breakdown of the last value will lead to in-depth correction. Here, the target is 1.1987. The range of 1.1987 - 1.2013 is noise. Before reaching this level, we expect the initial conditions for the upward cycle.

The main trend is the downward cycle from April 17. We expect a correction.

Trading recommendations:

Buy: 1.1902 Take profit: 1.1934

Buy 1.1938 Take profit: 1.1985

Sell: Take profit:

Sell: Take profit:

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For the GBP / USD pair, the key levels on the scale of H1 are 1.3847, 1.3752, 1.3684, 1.3614, 1.3614 and 1.3482. Here, we expect the movement towards correction. The upward movement is expected after the breakdown of 1.3614. In this case, the target is 1.3684. Short-term upward movement is possible in the area of 1.3684 - 1.3752. The breakdown of the last value will lead to movement. Here, the target is 1.3847. Up to this level, the design of potential initial conditions for the top is possible.

For the downward movement, we have not yet determines the subsequent goals.

The main trend is a downward structure from April 17. We expect a correction.

Trading recommendations:

Buy: 1.3616 Take profit: 1.3682

Buy: 1.3684 Take profit: 1.3750

Sell: Take profit:

Sell: Take profit:

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For the USD / CHF pair, the key levels on the scale of H1 are: 1.0025, 0.9976, 0.9939, 0.9910, 0.9874 and 0.9854. Here, we follow the upward structure of April 10. Currently, we expect a correction. The potential value for the top is the level of 1.0025. The movement towards this level is expected after the breakdown of 0.9976.

Short-term downward movement is possible in the area of 0.9939 - 0.9910. The breakdown of the last value will lead to in-depth correction. Here, the target is 0.9874. The range of 0.9874 - 0.9854 is noise.

The main trend is the upward structure from April 10. We expect a correction.

Trading recommendations:

Buy: 0.9978 Take profit: 1.0025

Buy: Take profit:

Sell: 0.9939 Take profit: 0.9912

Sell: 0.9908 Take profit: 0.9876

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For the USD / JPY pair, the key levels on a scale are: 110.82, 110.66, 110.20, 109.96, 109.56, 109.35, 108.99 and 108.70. Here, we follow the formation of the upward structure of May 4. The continuation of the upward movement is expected after the breakdown of 109.96. In this case, the target is 110.20. Near this level is the consolidation of the price. The breakdown at 110.20 should be accompanied by a pronounced movement towards the level of 110.66. The potential value for the top is the level of 110.82. Upon reaching this level, we expect a pullback downwards.

Short-term downward movement is possible in the area of 109.56 - 109.35. The breakdown of the last value will lead to in-depth correction. Here, the target is 108.99. This level is the key support for the top of May 4.

The main trend is the formation of the upward structure of May 4.

Trading recommendations:

Buy: 109.96 Take profit: 110.20

Buy: 110.24 Take profit: 110.64

Sell: 109.55 Take profit: 109.37

Sell: 109.30 Take profit: 109.05

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For the CAD / USD pair, the key H1 scale levels are: 1.2925, 1.2886, 1.2863, 1.2815, 1.2787, 1.2763 and 1.2701. Here, we follow the formation of a downward structure from May 8. The continuation of the downward movement is expected after the breakdown of 1.2815. In this case, the target is 1.2787. In the area of 1.2787 - 1.2763 is the consolidation of the price. The potential value for the bottom is the level of 1.2701. The movement towards this level is expected after the breakdown of 1.2760.

Short-term upward movement is possible in the area of 1.2863 - 1.2886. The breakdown of the last value will lead to in-depth correction. Here, the target is 1.2925. This level is the key support for the downward structure from May 8.

The main trend is the formation of a downward structure from May 8.

Trading recommendations:

Buy: 1.2863 Take profit: 1.2884

Buy: 1.2888 Take profit: 1.2925

Sell: 1.2815 Take profit: 1.2790

Sell: 1.2760 Take profit: 1.2705

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For the AUD / USD pair, the key H1 scale levels are: 0.7514, 0.7483, 0.7463, 0.7424, 0.7402, 0.7334 and 0.7302. Here, we follow the local downward structure of May 4. Short-term downward movement is expected in the area of 0.7424 - 0.7402. The breakdown of the last value should be accompanied by a pronounced downward movement. Here, the target is 0.7334. The potential value for the bottom is the level of 0.7302. Upon reaching this level, we expect a rollback to the top.

Short-term upward movement is possible in the area of 0.7463 - 0.7483. The breakdown of the last value will lead to in-depth correction. Here, the target is 0.7514. This level is the key support for the downward structure.

The main trend is a local structure for the bottom of May 4.

Trading recommendations:

Buy: 0.7463 Take profit: 0.7480

Buy: 0.7485 Take profit: 0.7512

Sell: 0.7422 Take profit: 0.7405

Sell: 0.7400 Take profit: 0.7340

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For the of EUR / JPY pair, the key levels on the scale of H1 are: 131.64, 131.16, 130.62, 130.32, 129.70, 129.37, 128.91 and 128.62. Here, we follow the downward structure from April 24. At the moment, the price is in correction and forms the potential for the top of May 8. Short-term downward movement is possible in the area of 129.70 - 129.37. The breakdown of the last value should be accompanied by a pronounced movement towards the level of 128.91. In the area of 128.91 - 128.62 is the consolidation of the price and from here we expect a rollback into correction.

Short-term upward movement is possible in the area of 130.32 - 130.62. The breakdown of the last value will lead to in-depth correction. Here, the target is 131.16. This level is the key support for the downward structure. Its breakdown will lead to the formation of an upward structure. Here, the potential target is 131.64.

The main trend is the downward structure from April 24, the correction stage.

Trading recommendations:

Buy: 130.32 Take profit: 130.60

Buy: 130.66 Take profit: 131.16

Sell: 129.70 Take profit: 129.40

Sell: 129.33 Take profit: 128.95

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For the GBP / JPY pair, the key levels on the scale of H1 are: 149.81, 149.18, 148.67, 147.63, 146.88, 147.75 and 145.12. Here, we follow the local downward structure of April 26. At the moment, the price is in correction and forms the potential for the upward movement of May 8. The continuation of the downward movement is expected after the breakdown of 147.63. In this case, the target is 146.88. Near this level is the consolidation of the price. The breakdown of 146.85 should be accompanied by a pronounced downward movement. Here, the target is 145.75. The potential value for the bottom is the level 145.12. From this level, we expect a rollback towards correction.

Short-term upward movement is possible in the area of 148.67 - 149.18. The breakdown of the last value will lead to in-depth correction. Here, the target is 149.81.

The main trend is a local downward structure from April 26, the correction stage.

Trading recommendations:

Buy: 148.67 Take profit: 149.15

Buy: 149.22 Take profit: 149.75

Sell: 147.60 Take profit: 146.95

Sell: 146.85 Take profit: 145.90

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