20.09.201708:05 Forex Analysis & Reviews: Fractal analysis for major currency pairs on September 20

Dear colleagues.

For the EUR / USD pair, we follow the upward structure of September 14 as the main trend. For the GBP / USD pair, we are expecting the continuation of the upward movement after the breakdown at 1.3580. For the USD / CHF pair, the continuation of the upward movement is expected after the breakdown of 0.9650. The level of 0.9500 is the key support. For the USD / JPY pair, we have expanded the potential for upward movement to the level of 114.24. For the of EUR / JPY pair, the continuation of the upward movement is expected after the breakdown of 134.05. For the GBP / JPY pair, the development of the upward trend is expected after the breakdown of 151.60.

Forecast for September 20:

Analytical review of currency pairs in the scale of H1:

For the EUR / USD pair, the key levels on the scale of H1 are: 1.2156, 1.2112, 1.2080, 1.2022, 1.1996, 1.1976, 1.1952, 1.1913 and 1.1864. Here, we follow the formation of the upward structure of September 14. Short-term upward movement is expected in the area of 1.1996 - 1.2022. The breakdown of the last value should be accompanied by a pronounced upward movement. Here, the target is 1.2080. In the area of 1.2080 - 1.2112, we expect short-term upward movement, as well as consolidation. The potential value for the upward cycle is the level of 1.2156, upon reaching which we expect a pullback downwards.

Short-term downtrend is expected in the area of 1.1976-1.1952. The breakdown of the last value will lead to in-depth correction. Here, the target is 1.1913. This level is the key support for the top. Its breakdown will lead a downward movement. In this case, the potential target is 1.1864.

The main trend is the upward structure of September 14.

Trading recommendations:

Buy: 1.2022 Take profit: 1.2080

Buy: 1.2082 Take profit: 1.2110

Sell: 1.1976 Take profit: 1.1955

Sell: 1.1949 Take profit: 1.1915

For the GBP / USD pair, the key levels on the scale of H1 are: 1.3786, 1.3694, 1.3650, 1.3580, 1.3448 and 1.3382. Here, we continue to follow the upward cycle of September 14. Continued upward movement is expected after the breakdown of 1.3580. Here, the first target is 1.3650. Short-term uptrend is possible in the area of 1.3650 - 1.3694. The breakdown of the last value will lead to a movement towards the potential target of 1.3786, upon reaching which we expect a pullback downwards.

Short-term downward movement is possible in the area of 1.3448 - 1.3382. The breakdown of the latter value will lead to the development of a downward structure. In this case, the potential target is 1.3173.

The main trend is the local structure from September 14, the correction stage.

Trading recommendations:

Buy: 1.3580 Take profit: 1.3648

Buy: 1.3650 Take profit: 1.3692

Sell: 1.3445 Take profit: 1.3384

Sell: 1.3380 Take profit: 1.3275

For the USD / CHF pair, the key levels on the scale of H1 are: 0.9810, 0.9779, 0.9725, 0.9687, 0.9649, 0.9564, 0.9539 and 0.9501. Here, we continue to follow the upward structure of September 8. At the moment, the price is in correction. Continued upward movement is expected after the breakdown of 0.9650. Here, the first target is 0.9687. In the area of 0.9687 - 0.9725 is the short-term upward movement. The breakdown at the level of 0.9725 should be accompanied by a pronounced upward movement to the level of 0.9779. The potential value for the top is the level of 0.9810, from which we expect a pullback downwards.

Short-term downward movement is expected in the range of 0.9564 - 0.9539. The breakdown of the last value will lead to in-depth correction. Here, the target is 0.9501. This level is the key support for the top in the scale of H1.

The main trend is the upward structure of September 8.

Trading recommendations:

Buy: 0.9650 Take profit: 0.9685

Buy: 0.9688 Take profit: 0.9725

Sell: 0.9564 Take profit: 0.9540

Sell: 0.9535 Take profit: 0.9505

For the USD / JPY pair, the key levels on a scale are: 114.24, 113.25, 112.79, 111.92, 111.27, 110.90, 110.08 and 109.01. Here, we follow the upward structure of September 8. Continued upward movement is expected after the breakdown of 111.92. In this case, the target is 112.79. In the area of 112.79 - 113.25 is the consolidation of the price. The potential value for the top is the level of 114.24, upon reaching which we expect a pullback downwards.

Short-term downward movement is possible in the area of 111.27 - 110.90. The breakdown of the last value will lead to in-depth correction. Here, the target is 110.08. This level is the key support for the top. Its breakdown will lead a downward structure. In this case, the target is 109.01.

The main trend is the upward structure of September 8.

Trading recommendations:

Buy: 111.94 Take profit: 112.75

Buy: 113.25 Take profit: 114.20

Sell: 110.90 Take profit: 110.30

Sell: 110.05 Take profit: 109.20

For the CAD / USD pair, the key levels on the H1 scale are: 1.2551, 1.2504, 1.2402, 1.2354, 1.2265, 1.2222, 1.2159 and 1.2021. Here, we follow the development of the upward structure of September 8. Short-term upward movement is possible in the range of 1.2354 - 1.2402. The breakdown of the latter value will lead to the development of a pronounced movement. Here, the target is 1.2504. The potential value for the top is the level of 1.2551, from which we expect a pullback downwards.

Short-term downward movement is possible in the area of 1.2265 - 1.2222. The breakdown of the last value will lead to in-depth correction. Here, the target is 1.2159. This level is the key support for the top. Its breakdown will lead to a downward structure. In this case, the potential target is 1.2021.

The main trend is the upward structure of September 8.

Trading recommendations:

Buy: 1.2354 Take profit: 1.2400

Buy: 1.2406 Take profit: 1.2500

Sell: 1.2265 Take profit: 1.2224

Sell: 1.2220 Take profit: 1.2160

For the AUD / USD pair, the key levels on the H1 scale are: 0.8092, 0.8045, 0.8019, 0.7950, 0.7899 and 0.7871. Here, we continue to follow the downward structure from September 8. Continued downward movement is expected after the breakdown of 0.7950. In this case, the target is 0.7899. The potential value for the bottom is the level of 0.7871, from which we expect a rollback to the top.

Short-term upward movement is possible in the area of 0.8019 - 0.8045. The breakdown of the last value will lead to the formation of an upward structure. Here, the potential target is 0.8092.

The main trend is the downward structure of September 8.

Trading recommendations:

Buy: 0.8020 Take profit: 0.8044

Buy: 0.8047 Take profit: 0.8090

Sell: 0.7950 Take profit: 0.7900

Sell: 0.7896 Take profit: 0.7874

For the of EUR / JPY pair, the key levels on the scale of H1 are: 136.47, 135.61, 134.95, 134.00, 133.21, 132.51, 131.53 and 130.67. Here, we follow the upward structure of September 15. Continued upward movement is expected after the breakdown of 134.05. In this case, the target is 134.95. In the area of 134.95 - 135.61 is the consolidation of the price. The potential value for the top is the level of 136.47, from which we expect a pullback downwards.

Short-term downward movement is possible in the area of 133.21 - 132.51. The breakdown of the latter value will lead to the formation of a downward structure. Here, the target is 131.53. This level is the key resistance for the subsequent development of a downward trend.

The main trend is the local structure for the top of September 15.

Trading recommendations:

Buy: 134.05 Take profit: 134.95

Buy: 134.98 Take profit: 135.60

Sell: 133.20 Take profit: 132.55

Sell: 132.46 Take profit: 131.55

For the GBP / JPY pair, the key H1 scale levels are: 153.48, 152.84, 151.57, 150.20, 149.53 and 148.52. Here, we continue to follow the upward structure of September 14. The continuation of the upward movement is possible after the breakdown of 151.57. Here, the target is 152.84. The potential value for the top is the level 153.48, upon reaching which we expect a pullback downwards.

Short-term downward movement is possible in the area of 150.20 - 149.53. The breakdown of the last value will lead to in-depth correction. Here, the target is 148.52. This level is the key support for the top. Its breakdown will lead to the development of the downward structure.

The main trend is the local cycle of September 14.

Trading recommendations:

Buy: 151.60 Take profit: 152.80

Buy: Take profit:

Sell: 150.20 Take profit: 149.55

Sell: 149.48 Take profit: 148.60