18.10.201708:33 Forex Analysis & Reviews: Fractal analysis for major currency pairs on October 18

Dear colleagues.

For the EUR / USD pair, we follow the formation of the downward structure from October 12. The continuation of the downward movement is possible after the breakdown of 1.1741. For the GBP / USD pair, the level of 1.3123 is the key support for the upward trend. For the USD / CHF pair, we follow the formation of the upward structure of October 13. For the USD / JPY pair, the price forms the potential for the top of October 16 which is in correction. For the EUR / JPY pair, the continuation of the downward movement is expected after the breakdown of 131.75. For the GBP / JPY pair, the price is close to lifting the upward structure, which requires a breakdown at 147.60.

The forecast for October 18:

Analytical review of currency pairs in the scale of H1:

For the EUR / USD pair, the key levels on the scale of H1 are: 1.1879, 1.1831, 1.1805, 1.1787, 1.1741, 1.1704, 1.1678 and 1.1638. Here, we follow the formation of a downward structure from October 12. The continued downward movement is expected after the breakdown of 1.1741. In this case, the target is 1.1704. In the area of 1.1704 - 1.1678 is the price of consolidation. The potential value for the bottom is the level of 1.1638, upon reaching which we expect a rollback to the top.

Short-term upward movement is possible in the area of 1.1787-1.1805. The breakdown of the last value will lead to in-depth movement. Here, the target is 1.1831. This level is the key support for the downward structure.

The main trend is the downward structure of October 12.

Trading recommendations:

Buy: 1.1787 Take profit: 1.1803

Buy: 1.1807 Take profit: 1.1830

Sell: 1.1740 Take profit: 1.1705

Sell: 1.1702 Take profit: 1.1680

For the GBP / USD pair, the key levels on the scale of H1 are: 1.3432, 1.3401, 1.3342, 1.3303, 1.3173, 1.3123 and 1.3027. Here, we continue to follow the upward structure of October 6. At the moment, the price is in a deep correction. Short-term upward movement is expected in the area of 1.3303 - 1.3342. Breaking the level of 1.3342 should be accompanied by a pronounced movement to the level of 1.3401. The potential value for the top is still the level of 1.3432, from which we expect a pullback downwards.

Short-term downward movement is possible in the area of 1.3173 - 1.3123. The breakdown of the latter value will lead to the development of a downward movement. In this case, the potential target is 1.3027.

The main trend is the upward structure of October 6, the stage of deep correction.

Trading recommendations:

Buy: 1.3304 Take profit: 1.3340

Buy: 1.3344 Take profit: 1.3400

Sell: 1.3170 Take profit: 1.3125

Sell: 1.3120 Take profit: 1.3030

For the USD / CHF pair, the key levels on the scale of H1 are: 0.9908, 0.9882, 0.9832, 0.9814, 0.9770, 0.9754, 0.9732 and 0.9711. Here, we follow the formation of the upward structure of October 13. Short-term upward movement is expected after the breakdown of 0.9814 - 0.9832. The breakdown of the last value will lead to the development of pronounced upward movement. Here, the target is 0.9882. The potential value for the top is the level of 0.9908, upon reaching which we expect a rollback to the correction.

Short-term downward movement is possible in the area of 0.9770 - 0.9754. The breakdown of the last value will lead to an in-depth correction. Here, the target is 0.9732. This level is the key support for the top. Its breakdown will lead to a downward movement. In this case, the target is 0.9711.

The main trend is the formation of the upward structure of October 13.

Trading recommendations:

Buy: 0.9814 Take profit: 0.9830

Buy: 0.9834 Take profit: 0.9880

Sell: 0.9770 Take profit: 0.9755

Sell: 0.9752 Take profit: 0.9734

For the USD / JPY pair, the key levels on a scale are: 113.16, 112.92, 112.77, 112.52, 112.08, 111.92, 111.66, 111.42, 110.87 and 110.49. Here, we follow the downward structure from October 6. At the moment, the price is in correction and forms the potential for the upward cycle of October 16. Continued upward movement is expected after the breakdown of 112.52. Here, the target is 112.77. In the area of 112.77 - 112.92 is the consolidation of the price. The potential value for the top is the level of 113.16, upon reaching which we expect a pullback downwards.

Short-term downward movement is possible in the area of 112.08 - 111.92. The breakdown of the last value will lead to the development of a downward structure. Here, the target is 111.66. In the area of 111.66 - 111.42 is short-term downward movement. The breakdown of the level of 111.42 will continue the development of the downward cycle on the scale of H1.

The main trend is a downward structure from October 6, the correction stage.

Trading recommendations:

Buy: 112.52 Take profit: 112.75

Buy: 112.92 Take profit: 113.14

Sell: 112.08 Take profit: 111.94

Sell: 111.90 Take profit: 111.70

For the CAD / USD pair, the key levels on the H1 scale are: 1.2644, 1.2598, 1.2581, 1.2559, 1.2508, 1.2492, 1.2463 and 1.2434. Here, we continue to follow the formation of the upward structure of October 12. Continued upward movement is expected after the breakdown of 1.2560. In this case, the target is 1.2581. Near this level is is the price of consolidation. Passing the price of the noise range at 1.2581 - 1.2598 should be accompanied by a pronounced upward movement. Here, the target is 1.2644. From this level, we expect a correction.

Short-term downward movement is possible in the area of 1.2508 - 1.2492. The breakdown of the last value will lead to in-depth correction. Here, the target is 1.2465. This level is the key support for the upward structure. Its breakdown will lead to its cancellation.

The main trend is the formation of the upward structure of October 12.

Trading recommendations:

Buy: 1.2560 Take profit: 1.2580

Buy: 1.2600 Take profit: 1.2640

Sell: 1.2488 Take profit: 1.2465

Sell: 1.2460 Take profit: 1.2436

For the AUD / USD pair, the key levels on the scale of H1 are: 0.7954, 0.7931, 0.7900, 0.7885, 0.7846, 0.7822 and 0.7772. Here, we continue to follow the upward structure of October 6. At the moment, the price is in a deep correction. Passing the price of the noise range at 0.7885 - 0.7900 will allow us to count on the movement towards 0.7931. Near this level is the price of consolidation. The breakdown of 0.7933 should be accompanied by a movement towards the potential target of 0.7954, from which we expect a pullback downwards.

Short-term downward movement is possible in the area of 0.7846 - 0.7822. The breakdown of the latter value will lead to the development of a downward trend in the scale of H1. Here, the potential target is 0.7772.

The main trend is the upward structure of October 6, the stage of deep correction.

Trading recommendations:

Buy: 0.7900 Take profit: 0.7930

Buy: 0.7933 Take profit: 0.7954

Sell: 0.7844 Take profit: 0.7825

Sell: 0.7818 Take profit: 0.7790

For the of EUR / JPY, the key levels on the scale of H1 are: 133.00, 132.72, 132.52, 131.96, 131.78, 131.31 and 130.98. Here, we follow the downward structure of October 12. Continued downward movement is expected after passing the price of the noise range at 131.96 - 131.78. In this case, the target is 131.31. The potential value for the bottom is the level of 130.98, from which we expect a rollback to the top.

Short-term upward movement is possible in the area of 132.52 - 132.72. The breakdown of the latter value will lead to an in-depth movement. Here, the target is 133.00. This level is the key support for the bottom.

The main trend is the formation of a downward structure from October 12.

Trading recommendations:

Buy: 132.52 Take profit: 132.70

Buy: 132.76 Take profit: 133.00

Sell: 131.76 Take profit: 131.35

Sell: 131.28 Take profit: 131.00

For the GBP / JPY pair, the key levels on the scale of H1 are: 150.75, 150.17, 149.73, 149.15, 148.12, 147.61 and 146.91. Here, we continue to follow the upward structure from October 6. At the moment, the price is close to its cancellation in which a breakdown of the level of 147.60 is required. In this case. The potential target is 146.91. The continuation of the upward movement is expected after the breakdown at 149.15. In this case, the target is 149.73. Near this level is the consolidation of the price. Its breakdown will allow us to count on the movement towards 150.17. Potential value for the top is the level of 150.75, from which we expect the development of the corrective movement downwards.

The main trend is the upward structure of October 6, the stage of deep correction.

Trading recommendations:

Buy: 149.15 Take profit: 149.70

Buy: 149.78 Take profit: 150.15

Sell: 148.08 Take profit: 147.65

Sell: 147.58 Take profit: 146.95