Fractal analysis for main currency pairs on September 2

Outlook on September 2:

Analytical overview of currency pairs on the H1 scale:

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The key levels for the euro/dollar pair on the H1 chart are 1.2003, 1.1976, 1.1947, 1.1927, 1.1878, 1.1825, 1.1798 and 1.1756. The price is forming a potential for a downward cycle in the corrective zone of an upward structure. On the other hand, the decline is expected to continue after the breakdown of 1.1878. In this case, the target is 1.1825. There is a short-term downward movement and consolidation in the range of 1.1825 - 1.1798. For the potential value for the bottom, we consider the level 1.1756. Upon reaching which, we expect an upward pullback.

A short-term upward movement is possible in the range of 1.1927 - 1.1947. If the last value breaks down, a deep correction is possible. Here, the target is 1.1976, which is the key support for the descending structure from September 1.

The main trend is the upward cycle of August 21, correction stage.

Trading recommendations:

Buy: 1.1927 Take profit: 1.1946

Buy: 1.1948 Take profit: 1.1976

Sell: 1.1878 Take profit: 1.1826

Sell: 1.1824 Take profit: 1.1800

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The key levels for the pound/dollar pair are 1.3496, 1.3455, 1.3424, 1.3387, 1.3356 and 1.3292. We are following the development of the upward cycle from August 24 here. At the moment, the price is in correction. On the other hand, a short-term upward movement is expected in the range of 1.3424 - 1.3455, breaking through the last value will lead to a potential target - 1.3496. Upon reaching this level, consolidation and downward pullback is expected.

A consolidated movement is possible in the range of 1.3387 - 1.3356. The breakdown of the last value will lead to a deep correction. Here, the target is 1.3292, which is the key support for the top.

The main trend is the upward cycle from August 24, correction stage.

Trading recommendations:

Buy: 1.3424 Take profit: 1.3455

Buy: 1.3457 Take profit: 1.3496

Sell: 1.3385 Take profit: 1.3356

Sell: 1.3354 Take profit: 1.3294

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The key levels for the dollar/franc pair are 0.9239, 0.9202, 0.9174, 0.9134, 0.9090, 0.9072, 0.9038 and 0.8998. The price is forming potential initial conditions from the September 1 cycle. The upward movement, in turn, is expected to continue after the breakdown of 0.9134. In this case, the target is 0.9174. There is a short-term upward movement and consolidation in the range of 0.9174 - 0.9202. Now, we consider the level 0.9239 as a potential value for the top. Upon reaching which, we expect a downward pullback.

A short-term downward movement is possible in the range of 0.9090 - 0.9072. If the last value breaks down, a deep correction will emerge. Here, the potential target is 0.9038, which is the key support level for the top.

The main trend is the formation of initial conditions for the top from September 1

Trading recommendations:

Buy : 0.9134 Take profit: 0.9174

Buy : 0.9176 Take profit: 0.9202

Sell: 0.9090 Take profit: 0.9072

Sell: 0.9070 Take profit: 0.9040

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The key levels for the dollar/yen pair are 106.42, 106.08, 105.87, 105.52, 105.20, 104.96 and 104.39. Here, we are following the formation of the downward potential from August 28. We expect the downward movement to continue after the breakdown of 105.52. In this case, the target is 105.20. Meanwhile, price consolidation is in the range of 105.20 - 104.96. For the potential value for the bottom, we consider the level 104.39. A strong upward movement is expected after the breakdown of the level of 104.94.

A short-term upward movement is possible in the range 106.08 - 106.42, breaking through the last value will encourage the development of an upward trend. In this case, the potential target is 106.96.

The main trend is the formation of the downward potential from August 28

Trading recommendations:

Buy: 106.10 Take profit: 106.40

Buy : 106.44 Take profit: 106.95

Sell: 105.52 Take profit: 105.20

Sell: 104.95 Take profit: 104.40

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The key levels for the USD/CAD pair are 1.3239, 1.3181, 1.3157, 1.3121, 1.3096, 1.3048, 1.3026 and 1.2994. The price is forming potential initial conditions for the September 1 high. Meanwhile, a short-term upward movement is expected in the range of 1.3096 - 1.3121, breaking through the last value will lead to a pronounced upward movement. Here, the target is 1.3157. There is a short-term upward movement and consolidation in the range of 1.3157 - 1.3181.

A short-term downward movement is possible in the range of 1.3048 - 1.3026. If the last value breaks down, the downward movement will continue. In this case, the potential target is 1.2994.

The main trend is a local descending structure from August 24, building up potential for the top from September 1

Trading recommendations:

Buy: 1.3096 Take profit: 1.3120

Buy : 1.3123 Take profit: 1.3157

Sell: 1.3048 Take profit: 1.3027

Sell: 1.3024 Take profit: 1.2996

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The key levels for the AUD/USD pair are 0.7416, 0.7386, 0.7366, 0.7331, 0.7308, 0.7279, 0.7257 and 0.7230. The price is in the correction from the upward structure on August 21. A short-term downward movement is expected in the range of 0.7331 - 0.7308, breaking through the last value will lead to a pronounced downward movement. The target is 0.7279. Meanwhile, there is consolidation in the range of 0.7279 - 0.7257, from which we consider the level of 0.7230 as a potential value for the bottom. Upon reaching which, we expect an upward pullback.

The main trend is the upward cycle of August 21, correction stage.

Trading recommendations:

Buy: 0.7366 Take profit: 0.7385

Buy: 0.7387 Take profit: 0.7416

Sell : 0.7330 Take profit : 0.7308

Sell: 0.7306 Take profit: 0.7280

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The key levels for the euro/yen pair are 128.20, 127.61, 127.20, 126.95, 126.35, 126.07, 125.62 and 124.94. We are following the medium-term upward structure from August 21st here. Now, the upward movement is expected to continue after the price passes the noise range 126.95 - 127.20. In this case, the target is 127.61. There is consolidation near this level. On the other hand, we consider the level 128.20 as a potential value for the top, from which we expect a downward pullback.

A consolidated movement is expected in the range of 126.35 - 126.07. In case of breakdown of the last value, a deeper movement is possible. The target here is 125.62, which is the key support for the top and its breakdown will cancel the development of a downward trend. In this case, the potential target is 124.94.

The main trend is the upward structure of August 21

Trading recommendations:

Buy: 127.20 Take profit: 127.60

Buy: 127.65 Take profit: 128.20

Sell: 126.05 Take profit: 125.64

Sell: 125.60 Take profit: 125.00

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The key levels for the pound/yen pair are 143.48, 142.81, 142.41, 141.86, 141.31, 141.04 and 140.65. We are following the development of the rising structure from August 24. The upward movement is expected to continue after the breakdown of 141.86. In this case, the target is 142.41. On the other hand, there is a short-term upward movement and consolidation in the range of 142.41 - 142.81. For the potential value for the top, we consider the level 143.48. Upon reaching which, we expect a downward pullback.

A short-term downward movement is possible in the range of 141.31 - 141.04. If the last value breaks down, a deep correction will emerge. Here, the target is 140.65, which is the key support level for the top.

The main trend is the upward structure from August 24

Trading recommendations:

Buy: 141.88 Take profit: 142.40

Buy: 142.42 Take profit: 142.80

Sell: 141.30 Take profit: 141.05

Sell: 141.02 Take profit: 140.65

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