Dear colleagues.
For the currency pair EUR / USD, we continue the movement downwards after the breakdown of 1.1538 and we consider the movement upward as a correction. For the Pound / Dollar currency pair, we continue the downward trend and we expect after the breakdown of 1.2809. For the currency pair Dollar / Franc, the price forms the initial conditions for the top of August 31. For the Dollar / Yen currency pair, we follow the design of the local structure for the top of August 31. For the currency pair Euro / Yen, the downward structure of August 29 is no longer relevant, and for the subsequent downward movement we expect new initial conditions. For the Pound / Yen currency pair, we follow the development of the downward structure from August 30, continuing downwards after the breakdown of 142.75, the level of 143.70 is the key support.
Forecast for September 5:
Analytical review of currency pairs in the scale of H1:
For the EUR / USD currency pair, the key levels on the scale of H1 are: 1.1651, 1.1615, 1.1590, 1.1538, 1.1517 and 1.1485. Here, we follow the development of the downward cycle of August 28. At the moment, we expect the move to the level of 1.1538 and in the corridor of 1.1538 - 1.1517 is the consolidation. The potential value for the bottom is the level of 1.1485 and the movement toward which we expect after the breakdown of 1.1517.
The short-term upward movement is possible in the corridor of 1.1590 - 1.1615 and the breakdown of the last value will lead to an in-depth correction. Here, the target is 1.1651 and this level is the key support for the downward cycle.
The main trend is the downward cycle from August 28.
Trading recommendations:
Buy 1.1590 Take profit: 1.1613
Buy 1.1617 Take profit: 1.1650
Sell: 1.1536 Take profit: 1.1517
Sell: 1.1515 Take profit: 1.1485
For the Pound / Dollar currency pair, the key levels on the H1 scale are 1.2907, 1.2872, 1.2846, 1.2809, 1.2786 and 1.2744. Here, we follow the downward structure of August 30. The short-term downward movement is possible in the corridor of 1.2809 - 1.2786 and the breakdown of the last value will lead to a movement to the potential target of 1.2744, upon reaching this level, we expect a rollback upward.
The short-term upward movement is possible in the corridor of 1.2846 - 1.2872 and the breakdown of the last value will lead to an in-depth correction. Here, the target is 1.2907 and this level is the key support for the bottom.
The main trend is the downward structure of August 30.
Trading recommendations:
Buy: 1.2846 Take profit: 1.2870
Buy: 1.2873 Take profit: 1.2905
Sell: 1.2809 Take profit: 1.2787
Sell: 1.2784 Take profit: 1.2745
For the currency pair Dollar / Franc, the key levels on the scale of H1 are: 0.9876, 0.9847, 0.9831, 0.9804, 0.9771, 0.9724, 0.9708 and 0.9654. Here, we follow the formation of the initial conditions for the top of August 31. The continued development of the upward trend is expected after the breakdown of 0.9771. In this case, the target is 0.9804 and near this level is the consolidation. The breakdown at the level of 0.9805 should be accompanied by a pronounced upward movement. Here, the target is 0.9831 and in the corridor of 0.9831 - 0.9847 is the consolidation of the price. The potential value for the top is the level of 0.9876, upon reaching which we expect a pullback downwards.
The short-term downward movement is possible in the corridor of 0.9724 - 0.9708 and the breakdown of the last value will lead to an in-depth correction. Here, the target is 0.9681 and this level is the key support for the top.
The main trend is the formation of the ascending structure of August 31.
Trading recommendations:
Buy: 0.9771 Take profit: 0.9802
Buy: 0.9806 Take profit: 0.9830
Sell: 0.9724 Take profit: 0.9710
Sell: 0.9706 Take profit: 0.9685
For the Dollar / Yen currency 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 follow the formation of local initial conditions for the top 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, we expect the design of the local structure for the top on August 31.
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
For the Canadian Dollar / Dollar currency pair, the key levels on the H1 scale are: 1.3271, 1.3235, 1.3200, 1.3156, 1.3133 and 1.3097. Here, we follow the upward cycle of August 30. The continuation of the main trend is expected after the breakdown of the level of 1.3200. In this case, the target is 1.3235, from this level the probability of leaving for correction is high. As a potential move for the top, consider the level of 1.3271, upon reaching which we expect a pullback downwards.
The short-term downward movement is possible in the corridor of 1.3156 - 1.3133 and the breakdown of the last value will lead to an in-depth correction. In this case, the target is 1.3097 and this level is the key support for the upward structure.
The main trend is the ascending structure of August 30.
Trading recommendations:
Buy: 1.3200 Take profit: 1.3233
Buy: 1.3237 Take profit: 1.3270
Sell: 1.3155 Take profit: 1.3135
Sell: 1.3130 Take profit: 1.3097
For the Australian Dollar / Dollar currency pair, the key levels on the scale of H1 are: 0.7273, 0.7241, 0.7216, 0.7152, 0.7131, 0.7094 and 0.7062. Here, we follow the downward structure of August 28. The continued downward movement is expected after the passage at the price of the noise range of 0.7152 - 0.7131. In this case, the target is 0.7094. The potential value for the bottom is the level of 0.7062, after which we expect the consolidated movement in the range 0.7062 - 0.7094.
The short-term upward movement is possible in the corridor of 0.7216 - 0.7241 and the breakdown of the last value will lead to an in-depth correction. Here, the target is 0.7273 and this level is the key support for the bottom.
The main trend is the downward structure of August 28.
Trading recommendations:
Buy: 0.7216 Take profit: 0.7240
Buy: 0.7243 Take profit: 0.7273
Sell: 0.7130 Take profit: 0.7095
Sell: 0.7092 Take profit: 0.7062
For the EUR / JPY currency pair, the key levels on the scale of H1 are: 130.06, 129.55, 129.19, 128.43, 127.98, 127.47 and 127.18. Here, the descending structure of August 29 is no longer relevant, for the subsequent movement downward, we expect new initial conditions. The short-term downward movement is possible in the corridor of 128.43 - 127.98 and the breakdown of the last value will lead to a movement to the level of 127.47, in the corridor of 127.47 - 127.18 is the consolidation.
The short-term upward movement is possible in the corridor of 129.19 - 129.55 and the breakdown of the latter value will lead to an in-depth correction. Here, the target is 130.06 and this level is the key resistance for the subsequent development of the upward trend.
The main trend is the formation of the potential for the bottom of August 29.
Trading recommendations:
Buy: 129.19 Take profit: 129.54
Buy: 129.57 Take profit: 130.04
Sell: 128.40 Take profit: 128.00
Sell: 127.95 Take profit: 127.50
For the Pound / Yen currency pair, the key levels on the scale of H1 are: 144.15, 143.70, 143.38, 142.75, 142.31, 141.99 and 141.32. Here, we follow the development of the downward structure of August 30. The continued downward movement is expected after the breakdown of the level of 142.75. In this case, the target is 142.31 and in the corridor of 142.31 - 141.99 is the consolidation. The potential value for the bottom is the level of 141.32, the movement to which we expect after the breakdown of 141.95.
The short-term uptrend is possible in the corridor of 143.38 - 143.70 and the breakdown of the last value will lead to an in-depth correction. Here, the target is 144.15 and this level is the key support for the downward structure from August 30.
The main trend is the downward structure of August 30.
Trading recommendations:
Buy: 143.40 Take profit: 143.65
Buy: 143.75 Take profit: 144.10
Sell: 142.70 Take profit: 142.35
Sell: 142.30 Take profit: 142.00
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