Control areas for AUD/USD pair on 09/05/19

For two days, the pair overcame the average weekly move, suggesting the need to fix a long position and expect a correctional decline. Today, there was a test of weekly short of 0.6838-0.6825. The formation of a reversal pattern of "false breakdown" will allow you to enter a short corrective position. The first goal will be the maximum of the previous week, located at the level of 0.6791.

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Working in an upward impulse implies the search for favorable prices in purchases with a depreciation. The first support will be 1/4 WCZ of 0.6793-0.6789.

To form a local zone of accumulation, it will be necessary to close today's trading below the level of 0.6789. This will allow the pair to decline further to the 1/2 WCZ of 0.6759-0.6752. At the beginning of next week, working on the downward direction will be the main one. It is important to understand that the last impulse spurt occurred in the week when the expiration of futures contracts takes place. This may become the reason for the formation of a medium-term accumulation zone in the near future.

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Daily CZ - daily control zone. The area formed by important data from the futures market, which changes several times a year.

Weekly CZ - weekly control zone. The area formed by marks from the important futures market, which changes several times a year.

Monthly CZ - monthly control zone. The area is a reflection of the average volatility over the past year.

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Analysis of EUR/USD and GBP / USD for September 5. The pound is ready to rise to 24 and 25 figures

EUR / USD

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Wednesday, September 4, the pair EUR / USD ended with an increase of 60 basis points. This was the reaction of the market to a good index of business activity in the service sector and the composite index of the European Union. Also pleased with the foreign exchange market and retail sales in Europe in July, there is an increase of 2.2% compared with July 2018. However, will the euro continue to rise? The current wave marking indicates the incompleteness of the downward wave 3, inside which the construction of wave 5 is expected. Even if wave 3 is interpreted as s, that is, the downward section of the trend will end at the minimum of wave 3 or c, another downward wave should still be built. Thus, the news background can either support this wave picture or disrupt it. Of course, I hope for the first option. Today, all the news will come from America.

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There will be release of an initial report on the change in the number of employed by ADP (ADP Employment Change) with a neutral forecast - an increase of 150 thousand.

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Services PMI will be released a little later with a forecast of 50.9...

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And the ISM Non-Manufacturing PMI (ISM) with a forecast of 54.0. Given the good forecasts for all economic reports, we can expect the growth of the US currency, which will coincide with the construction of the bearish wave 5.

Purchase goals:

1.1248 - 0.0% Fibonacci

Sales goals:

1.0893 - 161.8% Fibonacci

1.0807 - 200.0% Fibonacci

General conclusions and recommendations:

The euro-dollar pair continues to build bearish wave 3 and its internal correctional wave 4. I recommend selling the pair with targets near the calculated levels of 1.0893 and 1.0807, which corresponds to 161.8% and 200.0% Fibonacci, for the MACD signal is down.

GBP / USD

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On September 4, the GBP / USD pair gained about 175 base points due to first positive expectations from the fateful meeting of the British Parliament, and then on the basis of the results of this meeting. Within its framework, it was decided to postpone Brexit to 2020 if Prime Minister Boris Johnson fails to conclude an agreement with the European Union until October 31. Given that less than two months remain before this date, and the basic question regarding the issue of "back-up" on the Northern Irish border remains open, it is unlikely that an agreement will be reached. Thus, Brexit seems to be postponed indefinitely once again. This is positive news for the pound, as markets are very wary of the tough Brexit that Johnson wanted to implement. Now, in the coming months, you can not be afraid of a hard break in ties with the EU. Therefore, the pound can get support from the news background. I expect to build a wave with targets above 23 figures.

Sales goals:

1.2016 - 0.0% Fibonacci

Purchase goals:

1.2306 - 38.2% Fibonacci

1.2401 - 50.0% Fibonacci

General conclusions and recommendations:

The downward trend section is still considered completed. Thus, it is now expected to build an ascending wave with targets located near the calculated levels of 1.2306 and 1.2401, which corresponds to 38.2% and 50.0% Fibonacci. You can buy a pound now when the news tension has subsided a bit, but I still do not recommend doing so in large volumes.

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Indicator analysis. Daily review on September 5, 2019 for the GBP / USD currency pair

Trend analysis (Fig. 1).

On Thursday, the price, after testing the resistance line, can begin to move down with the target of a pullback level of 23.6% - 1.2189 (blue dashed line) and in case of breaking further up to the pullback level of 38.2% - 1.2146 (blue dashed line).

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Fig. 1 (daily chart).

Comprehensive analysis:

- indicator analysis - up;

- Fibonacci levels - down;

- volumes - down;

- candlestick analysis - down;

- trend analysis - down;

- Bollinger Lines - up;

- weekly schedule - down.

General conclusion:

On Wednesday, the price may begin to move down.

An unlikely scenario is an upward movement, with the first target of 1.2310 - an upper fractal.

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Control zones EURUSD 09/05/19

The priority for the second half of the week is growth, as the pair consolidated above the WCZ 1/2 1.1013-1.1005 at yesterday's US session. It is important to understand that favorable prices for the purchase must be sought after the formation of the correction model. The first support will be WCZ 1/4 1.0998-1.0994. Testing this zone will allow you to consider the pattern for the purchase. The purpose of growth is the weekly CZ 1.1101-1.1085.

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Work in an upward impulse involves updating local highs with a probability above 70%. This allows you to use any fall to search for entry points to the purchase.

An alternative model will be developed if the closure of today's US session occurs below the level of 1.0994. This will make it possible to form a local accumulation zone, and the movement within the framework of the current weekly extremes will become the main one by the end of the week.

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Daily CZ - daily control zone. The area formed by important data from the futures market, which change several times a year.

Weekly CZ - weekly control zone. The zone formed by important marks of the futures market, which change several times a year.

Monthly CZ - monthly control zone. The zone, which is a reflection of the average volatility over the past year.

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Elliott wave analysis of GBP/JPY for September 5, 2019

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The UK parliament yesterday, voted in favor for a law, saying that the UK can not leave the EU without a deal. That will likely mean a general election will be held on October 15. The outlook for no hard Brexit helped GBP, so GBP/JPY rallied strongly towards the first serious resistance at 130.70. We expect this resistance to hold the first test and a correction towards 128.19 before the next serious attempt to break clearly above 130.70 for a continuation towards 132.84.

Only a break back below 126.64 will reinstate the downtrend, but the potential downside should remain very limited.

R3: 131.80

R2: 131.54

R1: 131.17

Pivot: 130.70

S1: 130.16

S2: 129.15

S3: 128.67

Trading recommendation:

We bought GBP at 129.85 and we will take 50% profit here at 130.54 and keep our stop at 126.50 for the remaining 50%. We will re-buy GBP at 128.25 if possible.

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Indicator analysis. Daily review on September 5, 2019 for the EUR / USD currency pair

On Wednesday, the price continued to move up, but to a strong pullback level of 38.2% - 1. 1051 (yellow dashed line) which it did not reach. Today, strong calendar news is expected at 12.15, 14.00 and 15.00 Universal time (all for the dollar). Today, the market will move down until the first strong news, in a pullback, and then can continue to move up.

Trend analysis (Fig. 1).

On Wednesday, the continuation of the upward movement with the target of 1.1051 is possible - the pullback level of 38.2% (yellow dashed line).

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Fig. 1 (daily chart).

Comprehensive analysis:

- indicator analysis - up;

- Fibonacci levels - up;

- volumes - up;

- candlestick analysis - up;

- trend analysis - down;

- Bollinger Lines - up;

- weekly schedule - up.

General conclusion:

On Wednesday, the upward movement will continue.

Until 9.00 Universal time, there will be a pullback downward movement with the first target of 1.1014 - a pullback level of 23.6% (blue dashed line), then an upward movement.

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Elliott wave analysis of EUR/JPY for September 5, 2019

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There was no time for a second dip to 115.83 before EUR/JPY took off impulsively and is now trading near the first serious resistance at 117.93. This resistance is expected to cap the upside in the short-term for a corrective decline to 116.61 before the next impulsive rally towards 119.52 should be expected.

At this point only an unexpected break back below 115.83 will reinstated the downtrend in wave (E).

R3: 118.70

R2: 118.30

R1: 117.93

Pivot: 117.45

S1: 117.24

S2: 117.04

S3: 116.61

Trading Recommendation:

We bought EUR at 116.80. We will take half profit here at 117.60 and keep our stop for the remaining 50% at 116.78. We will re-buy 50% at 116.80 if possible.

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GBP/USD: plan for the European session on September 5. The second round for Brexit opponents without an agreement. The bill

To open long positions on GBP/USD you need:

The pound continued its growth and strengthened throughout the day, as traders had no doubt that the bill that would not allow Great Britain to leave the EU without an agreement would be adopted, which is what happened. At the moment, buyers have climbed above a rather important support level of 1.2220 and are trying to keep it. The formation of a false breakdown there will be an additional signal to open long positions, which will lead to further growth of GBP/USD already to the highs of 1.2343 and 1.2387, where I recommend taking profits. In case the pound declines, against the background of profit taking after such a large increase, one can count on new long positions for a rebound from supports 1.2161 and 1.2112.

To open short positions on GBP/USD you need:

Pound sellers remain on the sidelines and are in no hurry to return to the market. However, an alarming signal is a return to the level of 1.2219, which cannot be tolerated. Today, bears need to try to return GBP/USD to this range, which may lead to profit taking on long positions and a downward correction of the pair in the support area of 1.2161 and 1.2112, where I recommend taking profit. The government of Boris Johnson will not fight with the adoption of a new bill on Brexit and, most likely, will focus on holding early elections, which are scheduled for October 14. Therefore, in case the pair grows, it is best to consider short positions after the formation of a false breakdown in the region of a high of 1.2281 or sell for a rebound from a resistance of 1.2343.

Signals of indicators:

Moving averages

Trade is conducted above 30 and 50 moving averages, which indicates that the pound could further grow.

Bollinger bands

In case the pound grows, a break of the upper boundary at 1.2270 will lead to a new wave of growth. In the event of a decline, support will be provided by the lower boundary at 1.2170.

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Description of indicators

  • MA (moving average) 50 days - yellow
  • MA (moving average) 30 days - green
  • MACD: Fast EMA 12, Slow EMA 26, SMA 9
  • Bollinger Bands 20
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Forecast for AUD/USD pair on September 5, 2019

AUD / USD pair

The Australian dollar has already come close to the coincidence point of two indicator lines - the balance line and the MACD line at 0.6836 on the daily chart. The decisive growth of the Marlin oscillator suggests that resistance can be overcome. However, a stronger barrier is waiting for the price around the point of convergence of the two price channels of the week and month scale at 0.6856.

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On a four-hour chart, the price is growing briskly above the indicator lines.The Marlin oscillator is close to the overbought zone. It is likely that from one of the target levels at 0.6836 or 0.6856, either a market reversal will occur or a deep correction, for example, to support the MACD line at 0.6767.

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EUR/USD: plan for the European session on September 5. It will be difficult for euro buyers to break above the resistance

To open long positions on EURUSD you need:

The good news related to Brexit provides some support for the European currency as well. Yesterday, euro buyers managed to protect the support of 1.1010, and today the whole emphasis in the first half of the day will be made on the breakout of resistance at 1.1048, which will lead to a new wave of strengthening the pair with updating highs around 1.1087 and 1.1115, where I recommend taking profits. However, given the lack of important fundamental data on the eurozone, it will be very difficult for bulls to do this. The more optimal scenario for opening long positions in EUR/USD will be the same correction and false breakdown in the support area of 1.1010, or then open long positions immediately to rebound from a low of 1.0982.

To open short positions on EURUSD you need:

Euro sellers are activated after updating resistance at 1.1048, and the formation of a false breakdown there will be the first signal to open short positions in the expectation of a return and correction to the support of 1.1010. However, a more important task, closer to the afternoon, during the release of fundamental statistics on the US labor market, will be a breakthrough and consolidation below the low of 1.1010, which will push EUR/USD to the area of large levels of 1.0982 and 1.0955, where I recommend taking profits. In the scenario of further growth above the resistance of 1.1048, it is best to count on sales on a rebound from the high of 1.1087.

Signals of indicators:

Moving averages

Trading is slightly above 30 and 50 moving averages, which indicates a possible continuation of the euro's upward correction.

Bollinger bands

A break of the upper boundary of the indicator in the region of 1.1045 will lead to further growth of the euro, while a break of the lower boundary in the area of 1.1010 will hit the positions of buyers and push the euro down.

analytics5d70a9b9b4555.png

Description of indicators

  • MA (moving average) 50 days - yellow
  • MA (moving average) 30 days - green
  • MACD: Fast EMA 12, Slow EMA 26, SMA 9
  • Bollinger Bands 20
The material has been provided by InstaForex Company - www.instaforex.com

Technical analysis of ETH/USD for 05/09/2019

Crypto Industry News:

Christine Lagarde, candidate for president of the European Central Bank (ECB) and head of the International Monetary Fund (IMF) said that central banks and financial regulators should protect consumers, but also be open to innovation such as cryptocurrencies.

During the opening statement, Lagarde told the European Parliament's Committee on Economic and Monetary Affairs that central banks and financial regulators should be open to the opportunities of change.

"For new technologies - including digital currencies - this means paying attention to the risks of financial stability, privacy or criminal activity and ensuring that regulations are in place to focus technology on the public good. But it also means recognizing the wider social benefits of innovation and enabling them to develop, "she said.

She also promised that if she became President of the ECB, her priorities would be involved in the institution's mandate and agility, social inclusion, and diversity. All this while ensuring that institutions quickly adapt to the rapidly changing environment.

In February, Lagarde said that cryptocurrency regulation is "inevitable" and necessary at the international level. In April, she also said that Blockchain innovators "shake the traditional financial world" and have a clear impact on current players.

Technical Market Overview:

The ETH/USD pair is still has hit and reversed from the short-term descending trendline around the level of $182.00, so only an impulsive move above the trendline can give a signal for the market participants to resume the uptrend on this pair. The price went down towards the technical support located at the level of $172.82 and is currently testing it from above. Despite the fact, that the wave Z of the overall corrective cycle might have been completed already, the bulls are not showing any strength on the market yet, which is why the price is trading below the trendline. If, however, the level of $182.00 is clearly violated, the next target for bulls is seen at the level of $187.04 and the uptrend is resumed then.

Weekly Pivot Points:

WR3 - $214.26

WR2 - $203.46

WR1 - $183.94

Weekly Pivot Point - $173.24

WS1 - $152.37

WS2 - $142.84

WS3 - $121.31

Trading Recommendations:

The best strategy in the current market conditions is to trade with the larger timeframe trend, which is still up. All the shorter timeframe moves are being treated as a correction inside of the uptrend. The current cycle is wave 2 of the higher degree and it might have been completed, so the uptrend should resume soon. The global investors are waiting for a breakout above the level of $238.68 to confirm the resumption of the uptrend.

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Technical analysis of BTC/USD for 05/09/2019

Crypto Industry News:

American investor and co-founder of Morgan Creek Digital Assets, Anthony Pompliano, argued that Satoshi Nakamoto should receive the Nobel Peace Prize for inventing Bitcoin.

"Satoshi should win the Nobel Peace Prize. After all, we have a currency that can take the status of a global reserve without having to engage in violence," Pompliano wrote in a tweet published on September 3.

Pompliano's proposal faces the obvious obstacle of the legendary disappearance of Nakamoto at the end of 2010 - which caused almost as much speculation and keen interest as the cryptocurrency that he, she or they invented on October 31, 2008, with the publication of the Bitcoin White Paper.

Apart from pragmatic considerations, Pompliano's argument is based on the conviction of many avid cryptocurrency supporters that domestic fiat currency is essentially based on violence - their hegemony is based on a history of coercion, centralized control of supply and a monopoly of power.

After the Second World War in the last century, America's rise to the global economic superpower meant that the dollar was transformed into a global reserve currency - both reflecting the priority of the country and as an instrument by which to determine the puncture.

Thanks to the invention of decentralized cryptocurrencies from the last decade - as well as more recent information that technology giants such as Facebook are now trying to opt for the technology that underlies their own creation of their own digital currency networks - traditional monetary policy managers are probably facing unprecedented challenges.

Technical Market Overview:

The BTC/USD pair has made a new marginal local high at the level of $10,773 after the technical resistance at the level of $10,222 has been violated. The market is still developing the local pull-back in the wave (2) and when finished a new higher high should be made with a target at the level of $11,068. The move-up is the biggest in terms of range so far, so it is quite possible that this is the wave (1) of the overall impulsive cycle up. Moreover, it means, the corrective cycle in wave 2 had been completed at the level of $9,231 and now the market resumes the uptrend. This scenario is valid as long as the level of $9,231 is not clearly violated. Anyway, now is time for a correction and the levels for the corrective pull-back are $10,222, $10,164, $9,999 and $9,820.

Weekly Pivot Points:

WR3 - $11,528

WR2 - $11,079

WR1 - $10,223

Weekly Pivot Point - $9,753

WS1 - $8,875

WS2 - $8,358

WS3 - $7,589

Trading Recommendations:

The best strategy in the current market conditions is to trade with the larger timeframe trend, which is still up. All the shorter timeframe moves are being treated as a correction inside of the uptrend. The larger degree WXY correction might have been completed and the market might be ready for another impulsive wave up of a higher degree. Any violation of the level of $9,231 invalidates the bullish impulsive scenario.

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Technical analysis of GBP/USD for 05/09/2019

Technical Market Overview:

The GBP/USD pair has made the V-shape trend reversal technical pattern and hit the level of 1.2248 which is a technical resistance level. This kind of price formation, the V-shape reversal pattern, is a very strong signal that the market participants are about to change their sentiment from bearish to bullish. It as well might be a reaction to the last test of the key long term technical support level at 1.1988 that has not been seen for at least 3 years. The next target for bulls is seen at the level of 1.2308. The larger timeframe trend remains down.

Weekly Pivot Points:

WR3 - 1.2411

WR2 - 1.2356

WR1 - 1.2237

Weekly Pivot Point - 1.2187

WS1 - 1.2067

WS2 - 1.2021

WS3 - 1.1902

Trading Recommendations:

The best strategy for current market conditions is to trade with the larger timeframe trend, which is down. All upward moves will be treated as local corrections in the downtrend. In order to reverse the trend from down to up, the key level for bulls is seen at 1.2429 and it must be clearly violated. As long as the price is trading below this level, the downtrend continues towards the level of 1.2000 and below.

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Technical analysis of EUR/USD for 05/09/2019

Technical Market Overview:

The EUR/USD pair has hit the short-term key technical resistance located at the level of 1.1027 - 1.1034 area. Moreover, the price is out of the descending channel zone, so this is showing some kind of bullishness on the EURUSD. If the move up continues further, then the next target for bulls is seen at the level of 1.1051 and then at 1.1091. Nevertheless, if bears continue to make pressure on the market, the next target for them is seen at the level of 1.0908, which is technical support at the weekly time frame.

Weekly Pivot Points:

WR3 - 1.1285

WR2 - 1.1224

WR1 - 1.1084

Weekly Pivot Point - 1.1025

WS1 - 1.0886

WS2 - 1.0818

WS3 - 1.0681

Trading Recommendations:

The best strategy for current market conditions is to trade with the larger timeframe trend, which is down. All upward moves will be treated as local corrections in the downtrend. The downtrend is valid as long as it is terminated or the level of 1.1445 clearly violated. There is an Ending Diagonal price pattern visible on the larget timeframes that indicate a possible downtrend termination soon. The key short-term levels are technical support at the level of 1.0814 and the technical resistance at the level of 1.1250.

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Technical analysis: Important Intraday Levels For EUR/USD, September 05, 2019

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When the European market opens, some economic data will be released such as French 10-y Bond Auction, Spanish 10-y Bond Auction, and German Factory Orders m/m. The US will also publish the economic data such as Crude Oil Inventories, Natural Gas Storage, Factory Orders m/m, ISM Non-Manufacturing PMI, Final Services PMI, Unemployment Claims, Revised Unit Labor Costs q/q, Revised Nonfarm Productivity q/q, ADP Non-Farm Employment Change, and Challenger Job Cuts y/y, so amid the reports, the EUR/USD pair will move with medium volatility during this day. TODAY'S TECHNICAL LEVELS: Breakout BUY Level: 1.1087. Strong Resistance: 1.1081. Original Resistance: 1.1070. Inner Sell Area: 1.1059. Target Inner Area: 1.1034. Inner Buy Area: 1.1009. Original Support: 1.0998. Strong Support: 1.0987. Breakout SELL Level: 1.0981. (Disclaimer)The material has been provided by InstaForex Company - www.instaforex.com

Technical analysis: Important Intraday Levels for USD/JPY, September 05, 2019

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In Asia, Japan will release the 30-y Bond Auction and the US will publish some economic data such as Crude Oil Inventories, Natural Gas Storage, Factory Orders m/m, ISM Non-Manufacturing PMI, Final Services PMI, Unemployment Claims, Revised Unit Labor Costs q/q, Revised Nonfarm Productivity q/q, ADP Non-Farm Employment Change, and Challenger Job Cuts y/y. So there is a probability the USD/JPY pair will move with medium volatility during this day.

TODAY'S TECHNICAL LEVELS:

Resistance.3 : 107.10.

Resistance. 2: 106.89.

Resistance. 1: 106.68.

Support. 1: 106.43.

Support. 2: 106.22.

Support. 3: 106.01.

(Disclaimer)

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EUR/USD facing bearish pressure from resistance, potential for drop!

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EURUSD is facing bearish pressure from our first resistance where we could be seeing a further drop below this level.

Entry: 1.10559

Why it's good : horizontal pullback resistance, 50%, 38.2% fibonacci retracement

Stop Loss : 1.10811

Why it's good : 61.8% Fibonacci retracement, horizontal swing high resistance

Take Profit : 1.09317

Why it's good: Horizontal swing low support

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AUD/USD right on big resistance, prepare for a drop!

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AUD/USD is approaching big resistance at 0.6829 where we expect a big reversal.

Entry: 0.6829

Why it's good : horizontal overlap resistance

100% Fibonacci extension

38.2% Fibonacci retracement

Take Profit : 0.6786

Why it's good: horizontal pullback support, 23.6% fibonacci retracement,61.8% Fibonacci extension

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USD/JPY approaching resistance, potential drop!

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USDJPY is approaching 1st resistance at 106.78, potential drop could occur.

Entry :106.78

Why it's good : horizontal swing high resistance

100% &61.8% Fibonacci extension

Take Profit : 105.70

Why it's good :horizontal swing low support

100% Fibonacci extension

38.2% Fibonacci retracement

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Forecast for GBP/USD on September 5, 2019

GBP/USD

Yesterday, the British Parliament passed a law on the postponement of Brexit until the end of the year, in response, Boris Johnson introduced a bill on re-election on October 15. The pound grew by 170 points at the end of the day.

On the daily chart, the price went above the Fibonacci level of 223.6% and above the MACD line, leaving the price channel line deep below (1.2202). Now the pound is open at 1.2381 - July 17 low, slightly above the Fibonacci level of 200.0%.

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On a four-hour scale, the price consolidated above the indicator lines of balance and MACD, the situation is completely upward. Leaving the price below 1.2202 will provoke a fall in the range of short-term consolidation 1.2077-1.2107.

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Forecast for EUR/USD on September 5, 2019

EUR/USD

Technical convergence, which is forming on the daily scale chart, begins to strengthen and develop - yesterday the euro grew by 60 points, breaking the signal level of 1.1027 - August 1 low, which opens the first bullish target at 1.1073 - Fibonacci level of 123.6%. Consolidation above the level opens the target of 1.1160, formed by the coincidence of the Fibonacci level of 110.0%, the line of the price channel and the indicator line of MACD.

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On a four-hour chart, the price has consolidated above the MACD line, the price fall under it, below 1.1018 is possible, as the signal line of the Marlin oscillator starts to move down. But if the market wants to grow, the possible decline will not be deep.

So, we are waiting for the price of 1.1073.

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Fractal analysis of the main currency pairs for September 5

Forecast for September 5:

Analytical review of currency pairs on the scale of H1:

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For the euro / dollar pair, the key levels on the H1 scale are: 1.1122, 1.1097, 1.1047, 1.1008, 1.0987, 1.0960 and 1.0926. Here, we follow the development of the ascending structure of September 3. The continuation of the movement to the top is expected after the breakdown of the level of 1.1047. In this case, the target is 1.1097. For the potential value for the upward trend, we consider the level of 1.1122. Upon reaching which, we expect consolidation, as well as a pullback to the bottom.

We expect consolidated movement in the range of 1.1008 - 1.0987. The breakdown of the last value will lead to an in-depth correction. Here, the target is 1.0960. This level is a key support for the upward structure. Its passage at the price will lead to the formation of a local descending structure. In this case, the first target is 1.0926.

The main trend is the formation of the upward potential of September 3.

Trading recommendations:

Buy: 1.1047 Take profit: 1.1095

Buy 1.1098 Take profit: 1.1120

Sell: 1.1008 Take profit: 1.0988

Sell: 1.0985 Take profit: 1.0960

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For the pound / dollar pair, the key levels on the H1 scale are: 1.2408, 1.2344, 1.2310, 1.2259, 1.2218, 1.2190 and 1.2141. Here, we follow the development of the upward cycle of September 3. The continuation of the movement to the top is expected after the breakdown of the level of 1.2259. In this case, the target is 1.2310. Short-term upward movement, as well as consolidation is in the range of 1.2310 - 1.2344. For the potential value for the top, we consider the level of 1.2408. Upon reaching this value, we expect a pullback to the bottom.

Short-term downward movement is expected in the range of 1.2218 - 1.2190. The breakdown of the last value will lead to an in-depth correction. Here, the target is 1.2141. This level is a key support for the upward cycle.

The main trend is the upward cycle of September 3.

Trading recommendations:

Buy: 1.2260 Take profit: 1.2310

Buy: 1.2312 Take profit: 1.2344

Sell: 1.2218 Take profit: 1.2191

Sell: 1.2188 Take profit: 1.2142

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For the dollar / franc pair, the key levels on the H1 scale are: 0.9866, 0.9838, 0.9822, 0.9793, 0.9770, 0.9754 and 0.9725. Here, we follow the development of the descending structure of September 3. The continuation of the movement to the bottom is expected after the breakdown of the level of 0.9793. In this case, the target is 0.9770. Price consolidation is in the range of 0.9770 - 0.9754. For the potential value for the bottom, we consider the level of 0.9725. The movement to which is expected after the breakdown of the level of 0.9754.

Short-term upward movement is possibly in the range of 0.9822 - 0.9838. The breakdown of the latter value will lead to in-depth movement. Here, the target is 0.9866. This level is a key support for the bottom.

The main trend is the descending structure of September 3.

Trading recommendations:

Buy : 0.9822 Take profit: 0.9836

Buy : 0.9839 Take profit: 0.9864

Sell: 0.9793 Take profit: 0.9770

Sell: 0.9754 Take profit: 0.9727

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For the dollar / yen pair, the key levels on the scale are : 107.88, 107.14, 106.87, 106.52, 105.65, 105.37, 104.92 and 104.44. Here, the situation is in equilibrium. The continuation of the movement to the top is expected after the breakdown of the level of 106.52. In this case, the target is 106.87, where consolidation is near this level. The passage at the price of the noise range 106.87 - 107.14 should be accompanied by a pronounced upward movement. Here, the potential target is 107.88. Consolidation is near this level.

Short-term downward movement is possibly in the range of 105.65 - 105.37. The breakdown of the latter value will lead to the development of a downward structure. In this case, the first goal is 104.92. For the potential value for the bottom, we consider the level of 104.44. Consolidation is near this level.

The main trend: the equilibrium state.

Trading recommendations:

Buy: 106.52 Take profit: 106.85

Buy : 107.15 Take profit: 107.88

Sell: 105.35 Take profit: 104.94

Sell: 104.90 Take profit: 104.46

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For the Canadian dollar / US dollar pair, the key levels on the H1 scale are: 1.3286, 1.3259, 1.3240, 1.3212, 1.3176 and 1.3155. Here, the price forms a pronounced medium-term downward structure from September 3. The continuation of the movement to the bottom is expected after the price passes the noise range 1.3212 - 1.3198. In this case, the target is 1.3176. For the potential value for the bottom, we consider the level of 1.3155. Before this value, we expect a pronounced structure of the initial conditions.

Short-term upward movement is possibly in the range of 1.3240 - 1.3259. The breakdown of the last value will lead to a long correction. Here, the target is 1.3286. This level is a key support for the upward structure.

The main trend is the formation of a medium-term downward structure from September 3.

Trading recommendations:

Buy: 1.3240 Take profit: 1.3257

Buy : 1.3261 Take profit: 1.3286

Sell: 1.3198 Take profit: 1.3176

Sell: 1.3174 Take profit: 1.3155

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For the Australian dollar / US dollar pair, the key levels on the H1 scale are : 0.6839, 0.6821, 0.6808, 0.6791, 0.6781, 0.6767 and 0.6750. Here, we follow the development of the ascending structure of September 3. Short-term upward movement is expected in the range of 0.6808 - 0.6821. The breakdown of the latter value will allow us to expect movement to a potential target - 0.6839. We expect consolidation, as well as a pullback to the bottom near this level.

Short-term downward movement is possibly in the range of 0.6791 - 0.6781. The breakdown of the last value will lead to a long correction. Here, the potential target is 0.6767. This level is a key support for the top.

The main trend is the upward structure of September 3.

Trading recommendations:

Buy: 0.6808 Take profit: 0.6820

Buy: 0.6823 Take profit: 0.6839

Sell : 0.6790 Take profit : 0.6782

Sell: 0.6779 Take profit: 0.6768

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For the euro / yen pair, the key levels on the H1 scale are: 118.78, 118.34, 118.00, 117.53, 117.05, 116.79 and 116.46. Here, the price forms the expressed initial conditions for the top of September 3. The continuation of the development of the upward cycle is expected after the breakdown of the level of 117.53. In this case, the goal is 118.00. Short-term upward movement, as well as consolidation is in the range of 118.00 - 118.34. For the potential value for the top, we consider the level of 118.78. Upon reaching which, we expect a pullback to the bottom.

Short-term downward movement is expected in the range of 117.05 - 116.79. The breakdown of the latter value will lead to an in-depth correction. Here, the goal is 116.46. This level is a key support for the upward structure.

The main trend is the formation of initial conditions for the top of September 3.

Trading recommendations:

Buy: 117.55 Take profit: 118.00

Buy: 118.02 Take profit: 118.33

Sell: 117.05 Take profit: 116.82

Sell: 116.77 Take profit: 116.48

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For the pound / yen pair, the key levels on the H1 scale are : 134.17, 132.94, 132.18, 130.98, 129.59, 128.99 and 128.20. Here, we are following the formation of the initial conditions for the top of September 3. The continued development of the upward trend is expected after the breakdown of the level of 130.98. In this case, the target is 132.18. Short-term upward movement, as well as consolidation is in the range of 132.18 - 132.94. We consider the level of 134.17 to be a potential value for the top; upon reaching this level, we expect a pullback to the bottom.

Short-term downward movement is possibly in the range of 129.59 - 128.99. The breakdown of the last value will lead to an in-depth correction. Here, the goal is 128.20. This level is a key support for the upward structure.

The main trend is the formation of initial conditions for the top of September 3.

Trading recommendations:

Buy: 131.00 Take profit: 132.10

Buy: 132.20 Take profit: 132.90

Sell: 129.59 Take profit: 129.00

Sell: 128.90 Take profit: 128.20

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

Golden cosmos

Good evening, dear traders. As promised, here's the evening forecast for gold. Sorry, was not able to publish it in the morning, because it has already started to work.

The trade wars drove gold to an incredible $ 1,550 per troy ounce. This is the largest gold trend. for many years! Over the past year, gold has passed a record of 36,000p and continues to storm the high, knocking out the stops of medium-term sellers. And just yesterday, according to perhaps the most effective Price Action trading strategy, a pattern called "daily absorption in the trend" has appeared - which speaks of an ongoing trend and after which it is recommended to buy. Today, to the American session, there was a magnificent rollback, allowing you to go into longs at the best price.

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On the other hand, sellers who have been selling gold from highs for two weeks now have to hide their risks only for one single extreme - this year's high - quotation 1554. Although, gold has not yet risen above. This is a trap that will be slammed in the near future and trap sellers.

I propose to take a closer look from the rollbacks to the longs - with a take on updating 1554 and higher. Often breakdowns of weekly extremes for gold are very volatile - and give a positive slippage, on which you can earn good profit. This is the first part of the plan.

The second part is for those traders who are buying in a large amount (scalpers). The idea is very simple and is to work after the breakdown of 1554, which for example to 1560-1570, and then to return to the broken level of 1554. This is an old scalping technique in the overbought market to work on the consolidations of large buyers after the breakdown of key extremes. It is due to this that the price decline to a broken level, which becomes support.

Be that as it may, you can earn in both cases.

I wish you success in trading and follow the policy of money management!

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