Fractal analysis of major currency pairs on May 17

Hello, dear colleagues.

For the currency pair Euro/Dollar, the continuation of the main downward trend is expected after the breakdown of 1.144. For the currency pair Pound/Dollar, the continuation of the downward movement is expected after the breakdown of the level of 1.2733 and the movement to the top is considered as a correction. For the currency pair Dollar/Franc, we follow the formation of the upward cycle from May 13 and the subsequent development is expected after the breakdown of 1.0113. For the currency pair Dollar/Yen, we follow the formation of the upward cycle from May 13 and we expect the development of this structure after the breakdown of 109.95. For the Euro/Yen, the continuation of the downward movement of May 10 is expected after the breakdown of 122.12. For the currency pair Pound/Yen, the subsequent development of the local structure from May 10 is expected after the breakdown of 139.65 and we consider the upward movement as a correction.

Forecast for May 17:

Analytical review of H1-scale currency pairs:

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For the currency pair Euro/Dollar, the key levels on the H1 scale are 1.1222, 1.1212, 1.1197, 1.1184, 1.1156, 1.1144 and 1.1112. We continue to follow the development of the downward structure of May 13. The short-term downward movement is expected in the range of 1.1156 – 1.1144 and the breakdown of the last value should be accompanied by a pronounced downward movement. In this case, the potential target is 1.1112 and we expect a rollback to the top from this level.

The short-term upward movement is possible in the range of 1.1184 – 1.1197 and the breakdown of the latter value will lead to a prolonged correction. The target is 1.1212 and the range of 1.1212 – 1.1222 is the key support for the downward movement. We expect the initial conditions for the upward cycle.

The main trend is the downward structure of May 13.

Trading recommendations:

Buy 1.1184 Take profit: 1.1195

Buy 1.1198 Take profit: 1.1210

Sell: 1.1156 Take profit: 1.1145

Sell: 1.1142 Take profit: 1.1116

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For the currency pair Pound/Dollar, the key levels on the H1 scale are 1.2840, 1.2802, 1.2773, 1.2733, 1.2693, 1.2659 and 1.2588. We continue to follow the development of the downward structure from May 3 and the continuation of the downward movement is expected after the breakdown of the level of 1.2733. In this case, the target is 1.2693 and in the area of 1.2693 – 1.2659 is the consolidation. The breakdown of the level of 1.2659 will lead to a movement to the potential target of 1.2588, upon reaching which, we expect a rollback to the top.

The short-term upward movement is possible in the area of 1.2773 – 1.2802 and the breakdown of the latter value will lead to a prolonged correction. The target is 1.2840 and this level is the key support for the downward structure.

The main trend is the downward cycle of May 3.

Trading recommendations:

Buy: 1.2773 Take profit: 1.2802

Buy: 1.2804 Take profit: 1.2840

Sell: 1.2732 Take profit: 1.2694

Sell: 1.2656 Take profit: 1.2590

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For the currency pair Dollar/Franc, the key levels on the H1 scale are 1.0160, 1.0142, 1.0131, 1.0113, 1.0084, 1.0072 and 1.0048. We follow the formation of the upward structure of May 13. The continuation of the upward movement is expected after the breakdown of 1.0113. In this case, the target is 1.0131 and in the area of 1.0131 – 1.0142 is the short-term upward movement, as well as consolidation. We consider the level of 1.0160 as a potential value for the top, after reaching which, we expect a rollback to the bottom.

The short-term downward movement is possible in the area of 1.0084 – 1.0072 and the breakdown of the latter value will have to develop the downward structure. The potential target is 1.0048, up to this level, we expect the initial conditions for the downward cycle.

The main trend is the upward structure of May 13.

Trading recommendations:

Buy: 1.0113 Take profit: 1.0130

Buy: 1.0142 Take profit: 1.0160

Sell: 1.0084 Take profit: 1.0073

Sell: 1.0070 Take profit: 1.0050

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For the currency pair Dollar/Yen, the key levels on the H1 scale are 110.81, 110.54, 110.33, 109.95, 109.80, 109.38, 109.24, 109.01 and 108.77. We follow the formation of the upward cycle of May 13. The continuation of the upward movement is expected after the price passes the range of 109.80 – 109.95. In this case, the goal is 110.33 and in the area of 110.33 – 110.54 is the short-term upward movement, as well as consolidation. We consider the level of 110.81 as a potential value for the top, after reaching which, we expect a rollback to the bottom.

The range of 109.38 – 109.24 is the key support for the upward structure of May 13. Its price passage will have to develop the downward structure. The first target is 109.01. We consider the level of 108.77 as a potential value for the bottom, to which we expect the registration of the expressed initial conditions for the downward cycle.

The main trend is the upward structure of May 13.

Trading recommendations:

Buy: 109.95 Take profit: 110.33

Buy: 110.55 Take profit: 110.80

Sell: 109.24 Take profit: 109.02

Sell: 109.00 Take profit: 108.78

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For the currency pair Canadian Dollar/Dollar, the key levels on the H1 scale are 1.3568, 1.3526, 1.3511, 1.3493, 1.3451, 1.3434, 1.3415 and 1.3378. We follow the formation of the upward structure of May 10. The continuation of the upward movement is expected after the breakdown of 1.3493. In this case, the target is 1.3511 and consolidation is near this level. The price pass of the range of 1.3511 – 1.3526 should be accompanied by a pronounced upward movement to the potential target of 1.3568, from this level, we expect a rollback to the bottom.

The consolidated movement is possible in the area of 1.3451 – 1.3434 and the breakdown of the last value will lead to a prolonged correction. The target is 1.3415 and this level is the key support for the top.

The main trend is the formation of the upward structure of May 10, the stage of initial conditions.

Trading recommendations:

Buy: 1.3493 Take profit: 1.3510

Buy: 1.3526 Take profit: 1.3566

Sell: 1.3433 Take profit: 1.3417

Sell: 1.3412 Take profit: 1.3385

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For the currency pair Australian Dollar/Dollar, the key levels on the H1 scale are 0.6936, 0.6916, 0.6900, 0.6869, 0.6854 and 0.6835. We follow the development of the downward structure of May 7. The short-term downward movement is expected in the range of 0.6869 – 0.6854, hence there is a high probability of a turn into a correction. We consider the level of 0.6835 as a potential value for the downward trend, the movement to which is expected after the breakdown of 0.6852.

The short-term upward movement is possible in the range of 0.6900 – 0.6916 and the breakdown of the latter value will lead to a prolonged movement. The goal is 0.6936 and this level is the key support for the downward structure.

The main trend is the downward structure of May 7.

Trading recommendations:

Buy: 0.6900 Take profit: 0.6914

Buy: 0.6917 Take profit: 0.6934

Sell: 0.6867 Take profit: 0.6855

Sell: 0.6852 Take profit: 0.6836

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For the currency pair Euro/Yen, the key levels on the H1 scale are 122.95, 122.68, 122.50, 122.12, 121.75, 121.45 and 121.09. We follow the development of the local structure for the bottom of May 10. The continuation of the downward movement is expected after the breakdown of the level of 122.12. In this case, the goal is 121.75 and in the area of 121.75 – 121.45 is the short-term downward movement, as well as consolidation. Also, from this range, there is a high probability of rollback to the correction. We consider the level of 121.09 as a potential value for the bottom, upon reaching which, we expect a rollback to the top.

The short-term upward movement is expected in the area of 122.50 – 122.68 and the breakdown of the last value will lead to a prolonged correction. In this case, the goal is 122.95.

The main trend is the local downward structure of May 10.

Trading recommendations:

Buy: 122.50 Take profit: 122.66

Buy: 122.70 Take profit: 122.95

Sell: 122.12 Take profit: 121.75

Sell: 121.73 Take profit: 121.45

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For the currency pair Pound/Yen, the key levels on the H1 scale are 141.05, 140.45, 140.09, 139.68, 139.15, 138.45 and 138.03. We follow the development of the downward structure of May 10th. The continuation of the downward movement is expected after the breakdown of 139.65. In this case, the goal is 139.15 and consolidation is near this level. The breakdown of the level of 139.15 will lead to a pronounced movement to the level of 138.45 and from this level, there is a high probability of a turn to the top. The potential value for the bottom is considered the level of 138.03, upon reaching which, we expect consolidation in the area of 138.45 – 138.03, as well as a rollback to the top.

The short-term upward movement is possible in the area of 140.09 – 140.45 and the breakdown of the latter value will lead to a deep correction. The target is 141.05 and this level is the key support.

The main trend is the local downward structure of May 10.

Trading recommendations:

Buy: 140.10 Take profit: 140.45

Buy: 140.47 Take profit: 141.05

Sell: 139.66 Take profit: 139.15

Sell: 139.10 Take profit: 138.45

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