Fractal analysis for major currency pairs as of August 30

Dear colleagues.

For the currency pair Euro / Dollar, we continue to monitor the upward structure from August 23 and the upward movement is expected after the passage at the price of the noise range of 1.1719 - 1.1746. For the Pound / Dollar pair, we consider the medium-term upward structure of August 15 as the main trend, as well as the local loop from August 24. For the pair Dollar / Franc, the medium-term downward structure develops from August 17, the local downward cycle from August 23. For the pair Dollar / Yen, the continuation of the development of the upward cycle from August 21, we expect after the breakdown of 111.80. For a pair of Euro / Yen, the price issued a small local structure for the top of August 29. For the Pound / Yen pair, the continuation of the upward movement is expected after the breakdown of 145.71, the movement downward is considered as a correction.

Forecast for August 30:

Analytical review of currency pairs in the scale of H1:

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For the EUR / USD currency pair, the key levels on the scale of H1 are: 1.1817, 1.1794, 1.1746, 1.1719, 1.1660, 1.1630, 1.1582 and 1.1528. Here, we continue to follow the local upward structure of August 23. The short-term upward movement is expected in the corridor of 1.1719 - 1.1746 and the breakdown of the last value should be accompanied by a pronounced movement to the level of 1.1794. The potential value for the top is the level of 1.1817, after which we expect consolidation.

The short-term downward movement is possible in the corridor of 1.1660-1.1630 and the breakdown of the last value will lead to an in-depth correction. Here, the target is 1.1582 and this level is the support for the top.

The main trend is the local structure of August 23.

Trading recommendations:

Buy 1.1720 Take profit: 1.1744

Buy 1.1747 Take profit: 1.1792

Sell: 1.1660 Take profit: 1.1632

Sell: 1.1628 Take profit: 1.1585

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For the Pound / Dollar currency pair, the key levels on the H1 scale are 1.3115, 1.3068, 1.3045, 1.3006, 1.2981 and 1.2941. Here, the upward structure of August 24, we considered as a large initial conditions, medium-term from August 15 (scale H4). The continued upward movement is expected after passing through the noise range of 1.3045 - 1.3068. In this case, the target is 1.3115 and from this level, we expect a pullback downwards.

The short-term downward movement is possible in the corridor of 1.3006 - 1.2981 and the breakdown of the last value will lead to an in-depth correction. Here, the target is 1.2941 and this level is the key support for the top.

The main trend is a local structure for the top of August 24.

Trading recommendations:

Buy: 1.3068 Take profit: 1.3113

Buy: Take profit:

Sell: 1.3005 Take profit: 1.2982

Sell: 1.2979 Take profit: 1.2941

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For the currency pair Dollar / Franc, the key levels on the scale of H1 are: 0.9774, 0.9748, 0.9729, 0.9713, 0.9683, 0.9667 and 0.9643. Here, we continue to follow the local top-down cycle of August 23, the medium-term structure begins on August 17. The short-term downtrend is possible in the range of 0.9683 - 0.9667 and the breakdown of the last value will lead to an in-depth correction. Here, the target is 0.9643, from this level we expect the movement to correction.

The short-term upward movement, possibly in the corridor of 0.9713 - 0.9729 and the breakdown of the last value will lead to an in-depth correction. Here, the target is 0.9748 and the breakdown of which, in turn, will allow to count on the formation of the potential for the top. Here, the target is 0.9774.

The main trend is the local structure for the bottom of August 23.

Trading recommendations:

Buy: 0.9713 Take profit: 0.9726

Buy: 0.9731 Take profit: 0.9748

Sell: 0.9665 Take profit: 0.9645

Sell: Take profit:

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For the Dollar / Yen pair, the key levels on a scale of H1 are: 112.42, 112.13, 111.80, 111.60, 111.01, 110.82 and 110.47. Here, we continue to follow the upward cycle of August 21. The short-term upward movement is expected in the corridor of 111.60 - 111.80 and the breakdown of the last value will lead to a pronounced movement. In this case, the target is 112.13. We consider the level of 112.42 to be a potential value for the top, after which we expect consolidation, as well as a pullback to the bottom.

The short-term downward movement is possible in the corridor of 111.01 - 110.82 and the breakdown of the last value will lead to an in-depth correction. Here, the target is 110.47 and this level is the key support for the upward structure.

The main trend: the upward structure of August 21.

Trading recommendations:

Buy: 111.60 Take profit: 111.80

Buy: 111.83 Take profit: 112.12

Sell: 111.00 Take profit: 110.83

Sell: 110.80 Take profit: 110.50

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For the Canadian Dollar / Dollar pair, the key levels on the H1 scale are: 1.3004, 1.2974, 1.2948, 1.2884, 1.2864 and 1.2821. Here, we follow the descending structure of August 24. The continuation of the movement downwards is expected after the passage at the price of the noise range of 1.2884 - 1.2864. In this case, the potential target is 1.2821, from this level we expect a rollback to the top.

The short-term upward movement is possible in the corridor of 1.2948 - 1.2974 and the breakdown of the last value will lead to an in-depth correction. Here, the target is 1.3004 and this level is the key support for the downward structure from August 24.

The main trend is the downward structure of August 24.

Trading recommendations:

Buy: 1.2948 Take profit: 1.2972

Buy: 1.2975 Take profit: 1.3002

Sell: 1.2864 Take profit: 1.2825

Sell: Take profit:

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For the Australian Dollar / Dollar pair, the key H1 scale levels are: 0.7452, 0.7427, 0.7385, 0.7353, 0.7318, 0.7290, 0.7263 and 0.7238. Here, the price is in deep correction from the ascending structure of August 24. The level of 0.7263 is the key support and its passage at the price will lead to the development of a downward movement. Here, the first target is 0.7238. The continued development of this structure is expected after the breakdown of 0.7353. In this case, the target is 0.7385 and near this level is the consolidation. The breakdown at the level of 0.7385 should be accompanied by a pronounced upward movement, the target here is 0.7427. The potential value for the top is the level of 0.7452, upon reaching which we expect a pullback downwards.

The main trend is the formation of the potential for the top of August 24.

Trading recommendations:

Buy: 0.7355 Take profit: 0.7385

Buy: 0.7387 Take profit: 0.7425

Sell: 0.7262 Take profit: 0.7240

Sell: Take profit:

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For the pair of Euro / Yen, the key levels on the scale of H1 are: 131.84, 131.32, 130.92, 130.39, 130.01, 129.58 and 129.07. Here, the price has issued a small local structure for the top of August 29. The short-term upward movement is possible in the corridor of 130.92 - 131.32 and the breakdown of the last value will lead to a movement to the potential target of 131.84, from this level we expect a pullback downwards.

The short-term downward movement is possible in the corridor of 130.39 - 130.01 and the breakdown of the last value will have to develop an in-depth correction from the whole upward movement. Here, the first target is 129.58. We still consider the level of 129.07 to be a potential value for the bottom, after which we expect consolidation in the corridor 129.07 - 128.75.

The main trend is the local upward structure of August 29.

Trading recommendations:

Buy: 130.92 Take profit: 131.30

Buy: 131.35 Take profit: 131.82

Sell: 130.00 Take profit: 129.60

Sell: 129.54 Take profit: 129.10

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For the Pound / Yen pair, the key levels on the scale of H1 are: 147.61, 146.92, 146.35, 145.71, 144.74, 144.31, 143.70 and 143.30. Here, we have specified the corrective objectives for the medium-term upward structure of August 15. The continuation of the upward movement is expected after the breakdown of 145.71. Here, the target is 146.35 and the breakdown of which will lead to a short-term upward movement in the range of 146.35 - 146.92. Hence, the probability of a turn downwards is high. The potential value for the top is the level of 147.61, upon reaching which we expect a pullback downwards.

The short-term downward movement is possible in the corridor of 144.74 - 144.31 and the breakdown of the last value will lead to an in-depth correction. Here, the target is 143.70 and the range of 143.70 - 143.30 is the key support for the top.

The main trend is the medium-term ascending structure of August 15.

Trading recommendations:

Buy: 145.71 Take profit: 146.35

Buy: 146.39 Take profit: 146.90

Sell: 144.74 Take profit: 144.35

Sell: 144.26 Take profit: 143.80

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