Fractal analysis for major currency pairs as of August 20

Dear colleagues.

For the EUR / USD pair, the development of the upward structure of August 15 is expected after the breakdown of 1.1455. For the GBP / USD pair, the price is still in the correction zone. The level of 1.2825 is the key support for the bottom. For the USD / CHF pair, the continuation of the movement upward is expected after the breakdown of 0.9985. The level of 0.9932 is the key support. For the USD / JPY pair, we follow the formation of the downward structure from August 15. The level of 110.92 is the key support. For the EUR / JPY pair, the price forms a local downward structure from August 14. The development of this level is expected after the breakdown of 124.82. For the GBP / JPY pair, the price also forms a local structure for the bottom of August 14. The downward movement is expected after the breakdown of 139.86.

Forecast for August 20:

Analytical review of currency pairs in the scale of H1:

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For the EUR / USD pair, the key levels on the scale of H1 are: 1.1539, 1.1455, 1.1399, 1.1365, 1.1328, 1.1282, 1.1245, 1.1172, 1.1133 and 1.1043. Here, the price forms an upward structure from August 15 in correction from the downward cycle. The level of 1.1455 is the key resistance for the top. Passing the price will lead to the movement to the first potential target of 1.1539. Short-term downward movement is possible in the area of 1.1399 - 1.1365. The breakdown of the last value will lead to an in-depth correction. Here, the target is 1.1328. The breakdown of which, in turn, will continue the development of the downward trend on the scale of H1. In this case, the first target is 1.1282. In the area of 1.1282 - 1.1245 is the consolidation of the price. The breakdown at the level of 1.1245 should be accompanied by a pronounced downward movement towards the level of 1.1172. In the area of 1.1172 - 1.1133 is the consolidation of the price. The potential value for the bottom is the level of 1.1043. The movement towards this level is expected after the breakdown of 1.1131.

The main trend is a local downward structure from August 8, the formation of an upward structure from August 15.

Trading recommendations:

Buy Take profit:

Buy 1.1457 Take profit: 1.1537

Sell: 1.1398 Take profit: 1.1365

Sell: 1.1363 Take profit: 1.1328

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For the GBP / USD pair, the key levels on the scale of H1 are 1.2907, 1.2825, 1.2763, 1.2727, 1.2684, 1.2655, 1.2601 and 1.2561. Here, we continue to follow the local top-down cycle from August 7. Currently, the price is in the correction area. The continuation of the downward movement is expected after passing the price of the noise range of 1.2684 - 1.2655. In this case, the target is 1.2601. The potential value for the bottom is the level of 1.2561. After reaching this level, we expect consolidation in the area of 1.2601 - 1.2561.

Consolidated movement is possible in the area of 1.2727-1.2763. The breakdown of the last value will lead to in-depth correction. Here, the target is 1.2825. This level is the key support for the bottom. Passing the price will lead to the formation of the initial conditions for the top. In this case, the potential target is 1.2907.

The main trend is a local downward structure from August 7, the correction stage.

Trading recommendations:

Buy: 1.2727 Take profit: 1.2760

Buy: 1.2765 Take profit: 1.2822

Sell: 1.2655 Take profit: 1.2604

Sell: 1.2658 Take profit: 1.2562

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For the USD / CHF pair, the key levels on the scale of H1 are: 1.0043, 1.0012, 1.0001, 0.9985, 0.9962, 0.9949, 0.9932 and 0.9900. Here, we clarified the subsequent goals from the upward structure on August 14. The continuation of the upward movement is expected after the breakdown of 0.9985. In this case, the target is 1.0001. In the area of 1.0001 - 1.0012 is the consolidation of the price. The breakdown of the level of 1.0012 will allow us to count on the movement towards the potential target of 1.0043. From this level, we expect a pullback downwards.

Short-term downward movement is possible in the area of 0.9949 - 0.9932. Hence, there is a high probability of a turn up. The breakdown of 0.9930 will lead to the development of a downward movement. In this case, the target is 0.9900.

The main trend is the formation of the upward structure of August 14.

Trading recommendations:

Buy: 0.9985 Take profit: 1.0000

Buy: 1.0014 Take profit: 1.0040

Sell: 0.9946 Take profit: 0.9934

Sell: 0.9928 Take profit: 0.9900

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For the USD / JPY pair, the key levels on a scale are: 111.37, 110.92, 110.68, 110.34, 110.11, 109.78 and 109.56. Here, the price lifted the development of the upward structure from August 13 and for the moment, we are following the downward movement of August 15. Short-term downward movement is possible in the area of 110.34 - 110.11. The breakdown of the last value should be accompanied by a pronounced movement towards the level of 109.78. The potential value for the bottom is the level of 109.56. Upon the reaching this level, we expect the consolidation of the price.

Short-term upward movement is possible in the area of 110.68 - 110.92. The breakdown of the latter value will lead to the formation of initial conditions for the top. Here, the target is 111.37. We consider the level of 111.73 as the potential value for the design of a pronounced initial structure for the upward cycle.

The main trend is the formation of a downward structure from August 15.

Trading recommendations:

Buy: 110.68 Take profit: 110.90

Buy: 110.94 Take profit: 111.33

Sell: 110.32 Take profit: 110.13

Sell: 110.08 Take profit: 109.80

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For the CAD / USD pair, the key levels on the H1 scale are: 1.3127, 1.3099, 1.3080, 1.3039, 1.3005, 1.2956 and 1.2924. Here, we follow the formation of the downward potential of August 16. Short-term downward movement is expected in the range of 1.3039 - 1.3005. The breakdown of the last value should be accompanied by a pronounced movement towards the level of 1.2956. The potential value for the bottom is the level of 1.2924. Upon reaching this level, we expect a rollback upward.

Short-term uptrend is possible in the area of 1.3080 - 1.3099. The breakdown of the last value will lead to in-depth correction. Here, the target is 1.3127. This level is the key support for the downward structure from August 16.

The main trend is the formation of a downward potential from August 16.

Trading recommendations:

Buy: 1.3100 Take profit: 1.3125

Buy: 1.3127 Take profit: 1.3174

Sell: 1.3037 Take profit: 1.3007

Sell: 1.3002 Take profit: 1.2958

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For the AUD / USD pair, the key levels on the scale of H1 are: 0.7408, 0.7363, 0.7340, 0.7313, 0.7285, 0.7260, 0.7232 and 0.7199. Here, we follow the formation of the initial conditions for the upward cycle of August 15. The continuation of the upward movement is expected after the breakdown of 0.7313. In this case, the target is 0.7340. In the area of 0.7340 - 0.7363 is the consolidation of the price. The potential value for the top is the level of 0.7408.

Short-term downward movement is possible in the area of 0.7285 - 0.7260. The breakdown of the last value will lead to in-depth correction. Here, the target is 0.7232. This level is the key support for the upward structure.

The main trend is the formation of the upward structure of August 15.

Trading recommendations:

Buy: 0.7313 Take profit: 0.7340

Buy: 0.7342 Take profit: 0.7362

Sell: 0.7285 Take profit: 0.7262

Sell: 0.7258 Take profit: 0.7234

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For the of EUR / JPY pair, the key levels on the scale of H1 are: 128.04, 127.02, 126.28, 125.72, 124.82, 124.12, 123.33 and 122.77. Here, the price forms a local structure for the bottom of August 14. The continuation of the movement downwards is expected after the breakdown of 124.82. In this case, the target is 124.12. Near this level is the consolidation of the price. The breakdown of the level of 124.10 must be accompanied by a pronounced downward movement. In this case, the target is 122.77. Upon reaching this level, we expect consolidation and also a rollback to the top.

Short-term upward movement is possible in the area of 126.28 - 127.02. The breakdown of the last value will lead to the development of initial conditions for the upward cycle. In this case, the potential target is 128.04.

The main trend is the local structure for the bottom of August 14.

Trading recommendations:

Buy: 126.30 Take profit: 127.00

Buy: 127.05 Take profit: 128.00

Sell: 124.80 Take profit: 124.20

Sell: 124.10 Take profit: 123.35

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For the GBP / JPY pair, the key levels on the scale of H1 are: 142.35, 141.49, 140.90, 139.86, 139.17, 138.26 and 137.68. Here, the price forms a local downward structure from August 14. Short-term downtrend is possible in the area of 139.86 - 139.17. The breakdown of the last value will lead to the development of a pronounced movement. Here, the target is 138.26. The potential value for the bottom is the level of 137.68. Near this level, we expect consolidation and also a rollback upward.

Short-term upward movement is possible in the area of 140.90 - 141.49. The breakdown of the latter value will lead to the development of an upward structure. Here, the target is 142.35. The potential value for the top is the level of 143.33. After reaching this level, we expect the initial conditions to be formalized.

The main trend is the local structure for the bottom of August 14.

Trading recommendations:

Buy: 140.95 Take profit: 141.40

Buy: 141.55 Take profit: 142.35

Sell: 139.80 Take profit: 139.20

Sell: 139.15 Take profit: 138.30

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