Fractal analysis for major currency pairs as of August 12

Hello, dear colleagues.

For the Euro/Dollar pair, the price is in the correction zone from the medium-term upward structure on August 1 and the continuation of the upward movement is expected after the breakdown of 1.1234. For the Pound/Dollar pair, the continuation of the downward structure from July 31 is expected after the breakdown of 1.2014. For the Dollar/Franc pair, we follow the medium-term downward structure from August 1 and the subsequent downward movement is expected after the passage of the range of 0.9706 – 0.9682. For the Dollar/Yen pair, we expect the continuation of the movement downwards after the breakdown of 105.14. For the Euro/Yen pair, we follow the development of the downward structure from August 6. For the Pound/Yen pair, we follow the downward structure of July 31 and the continuation of the downward movement is expected after the breakdown of 126.48.

Forecast for August 12:

Analytical review of the currency pairs in H1 scale:

analytics5d50cba8d2da3.png

For the Euro/Dollar pair, the key levels on the H1 scale are: 1.1284, 1.1259, 1.1234, 1.1162, 1.1145 and 1.1120. The price is in the correction zone from the upward structure on August 1. The resumption of the upward trend is possible after the breakdown of 1.1234. In this case, the target is 1.1259. We consider the level of 1.1284 as a potential value for the top, upon reaching which, we expect consolidation, as well as a rollback to the bottom.

The short-term downward movement is possible in the area of 1.1162 – 1.1145 and the breakdown of the last value will lead to a protracted correction. The target is 1.1120 and this level is the key support for the top.

The main trend is the upward structure from August 1, the stage of correction.

Trading recommendations:

Buy 1.1234 Take profit: 1.1258

Buy 1.1261 Take profit: 1.1284

Sell: 1.1162 Take profit: 1.1146

Sell: 1.1144 Take profit: 1.1122

analytics5d50cbc3b72c7.png

For the Pound/Dollar pair, the key levels on the H1 scale are: 1.2142, 1.2099, 1.2069, 1.2014, 1.1952, 1.1908 and 1.1850. We follow the downward cycle of July 31. We expect the continuation of the downward movement after the breakdown of 1.2014. In this case, the target is 1.1952 and in the area of 1.1952 – 1.1908 is the short-term downward movement, as well as consolidation. We consider the level of 1.1850 as a potential value for the bottom, upon reaching this level, we expect a rollback to the top.

The short-term upward movement is possible in the area of 1.2069 – 1.2099 and the breakdown of the last value will lead to a protracted correction. The target is 1.2142 and this level is the key support for the downward structure.

The main trend is the downward cycle of July 31.

Trading recommendations:

Buy: 1.2069 Take profit: 1.2097

Buy: 1.2100 Take profit: 1.2140

Sell: 1.2012 Take profit: 1.1954

Sell: 1.1950 Take profit: 1.1910

analytics5d50cbe8e22df.png

For the Dollar/Franc pair, the key levels in the H1 scale are: 0.9854, 0.9816, 0.9797, 0.9768, 0.9706, 0.9682, 0.9641, 0.9604 and 0.9536. We follow the medium-term downward structure of August 1. The continuation of the downward movement is expected after the price passage of the range of 0.9706 – 0.9682. In this case, the target is 0.9641 and in the range of 0.9641 – 0.9604 is the short-term downward trend and consolidation. The breakdown of the level of 0.9604 should be accompanied by a pronounced downward movement. The potential target is 0.9536.

The departure for correction is expected after the breakdown of 0.9768. The first target is 0.9797. The short-term upward movement is possible in the area of 0.9797 – 0.9816. The breakdown of the last value will have to form the initial conditions for the upward cycle. The target is 0.9854.

The main trend is the downward structure from August 1.

Trading recommendations:

Buy: 0.9768 Take profit: 0.9797

Buy: 0.9818 Take profit: 0.9852

Sell: 0.9680 Take profit: 0.9641

Sell: 0.9638 Take profit: 0.9605

analytics5d50cc052148d.png

For the Dollar/Yen pair, the key levels in the H1 scale are: 107.20, 106.45, 105.96, 105.14, 104.44, 104.00 and 103.01. We follow the downward structure from August 1. The continuation of the downward movement is expected after the breakdown of 105.14. In this case, the target is 104.44 and in the area of 104.44 – 104.00 is the consolidation. The potential value for the bottom is the level of 103.01, the movement to which is expected after the breakdown of 104.00.

The short-term downward movement is possible in the area of 105.96 – 106.45 and the breakdown of the last value will lead to an in-depth correction. The target is 107.20 and this level is the key support for the downward structure.

The main trend is the downward structure of August 1.

Trading recommendations:

Buy: 105.96 Take profit: 106.43

Buy: 106.46 Take profit: 107.20

Sell: 105.13 Take profit: 104.46

Sell: 104.00 Take profit: 103.05

analytics5d50cc2433f76.png

For the Canadian dollar/Dollar pair, the key levels on the H1 scale are: 1.3444, 1.3393, 1.3354, 1.3329, 1.3280, 1.3212, 1.3175 and 1.3102. The price is in deep correction from the upward structure on July 31. The breakdown of the level of 1.3212 will lead to the formation of pronounced initial conditions for the downward cycle. In this case, the potential target is 1.3175 and near this level is the price consolidation. The resumption of the upward movement is possible after the breakdown of 1.3280. In this case, the first target is 1.3329 and in the area of 1.3329 – 1.3354 is the consolidation. The breakdown of the level of 1.3355 should be accompanied by a pronounced upward movement. The target is 1.3393.

The main trend – local upward structure from July 31, stage of deep correction.

Trading recommendations:

Buy: 1.3280 Take profit: 1.3329

Buy: 1.3355 Take profit: 1.3392

Sell: 1.3212 Take profit: 1.3178

Sell: Take profit:

analytics5d50cc3f22275.png

For the Australian dollar/Dollar pair, the key levels on the H1 scale are: 0.6967, 0.6922, 0.6902, 0.6869, 0.6843, 0.6789, 0.6762 and 0.6733. We follow the development of the upward structure from August 7. At the moment, we expect the movement to the level of 0.6843 and in the area of 0.6843 – 0.6869 is the short-term upward movement, as well as consolidation. The breakdown of the level of 0.6870 should be accompanied by a pronounced upward movement. The target is 0.6902 and in the area of 0.6902 – 0.6922 is the consolidation of the price. We consider the level of 0.6967 as a potential value for the top, upon reaching which, we expect a rollback to the bottom.

The short-term downward movement is possible in the area of 0.6789 – 0.6762 and the breakdown of the last value will lead to an in-depth correction. The target is 0.6733 and this level is the key support for the upward structure.

The main trend is the formation of the initial conditions for the upward cycle of August 7.

Trading recommendations:

Buy: 0.6845 Take profit: 0.6867

Buy: 0.6870 Take profit: 0.6902

Sell: 0.6787 Take profit: 0.6764

Sell: 0.6760 Take profit: 0.6735

analytics5d50cc5bbaf6f.png

For the Euro/Yen pair, the key levels on the H1 scale are: 119.16, 118.77, 118.47, 117.90, 117.36 and 116.95. We follow the downward structure from August 6. The continuation of the downward movement is expected after the breakdown of 117.90. The target is 117.36. The potential value for the downward structure is the level of 116.95, upon reaching which we expect consolidation.

The short-term upward movement is possible in the area of 118.47 – 118.77 and the breakdown of the last value will lead to an in-depth correction. The target is 119.16 and this level is the key support for the downward structure of August 6.

The main trend is the downward structure from August 6.

Trading recommendations:

Buy: 118.48 Take profit: 118.75

Buy: 118.78 Take profit: 119.14

Sell: 117.88 Take profit: 117.37

Sell: 117.34 Take profit: 116.97

analytics5d50cc7aa250c.png

For the Pound/Yen pair, the key levels on the H1 scale are: 129.44, 128.51, 127.85, 126.48, 125.57, 124.20 and 123.39. We follow the local downward structure from July 31. The short-term downward movement is expected in the area of 126.48 – 125.57 and the breakdown of the last value should be accompanied by a pronounced downward movement. The target is 124.20. We consider the level of 123.39 as a potential value for the bottom, upon reaching which, we expect consolidation, as well as a rollback to the top.

The short-term upward movement is possible in the area of 127.85 – 128.51 and the breakdown of the last value will lead to a protracted correction. The target is 129.44 and this level is the key support for the downward structure.

The main trend is the local downward structure of July 31.

Trading recommendations:

Buy: 127.85 Take profit: 128.50

Buy: 128.53 Take profit: 129.42

Sell: 126.45 Take profit: 125.58

Sell: 125.53 Take profit: 124.25

The material has been provided by InstaForex Company - www.instaforex.com