21.05.201810:07 Forex Analysis & Reviews: Fractal analysis of the main currency pairs for May 21

Dear colleagues.

For the pair Euro / Dollar, we follow the downward structure from May 14 and we consider the movement upward as a correction. For the Pound / Dollar pair, we follow the downward structure from May 14. The main trend development is expected after the breakdown of 1.3388. On the Dollar / Franc pair, as the main trend, we consider the formation of initial conditions for the downward cycle from May 10. For the pair Dollar / Yen, we expect the move to the level of 111.38. For a pair of Euro / Yen, the continuation of the upward movement on the scale of H1 is expected after the breakdown of 131.00. For the pair Pound / Yen, the development of the upward trend of May 8 is expected after the breakdown of 150.01.

Forecast for May 21:

Analytical review of currency pairs in the scale of H1:

For the EUR / USD pair, the key levels on the scale of H1 are: 1.1928, 1.1884, 1.1835, 1.1807, 1.1751, 1.1684, 1.1640 and 1.1575. Here, we continue to follow the downward structure of May 14. The continued downward movement is expected after the breakdown of 1.1750. In this case, the target is 1.1684 and in the corridor of 1.1684 - 1.1640 is the short-term downward movement, as well as consolidation. We consider the level of 1.1575 to be a potential value for the downstream structure, after which we expect a rollback to the top.

The short-term upward movement is possible in the corridor of 1.1807-1.1835 and the breakdown of the last value will lead to an in-depth correction. Here, the target is 1.1884 and this level is the key support for the downward structure from May 14. Its breakdown will have to form the initial conditions for the upward cycle. In this case, the potential target is 1.1928.

The main trend is the local structure for the bottom of May 14.

Trading recommendations:

Buy: 1.1807 Take profit: 1.1833

Buy 1.1837 Take profit: 1.1884

Sell: 1.1748 Take profit: 1.1686

Sell: 1.1682 Take profit: 1.1642

For the Pound / Dollar pair, the key levels on the H1 scale are: 1.3608, 1.3564, 1.3529, 1.3445, 1.3412, 1.3388, 1.3326 and 1.3285. Here, we continue to follow the downward structure of May 14. The continued development of the downward structure is expected after the breakdown of 1.3445. In this case, the target is 1.3412 and near this level is the consolidation. The passage at the price of the noise range of 1.3412 - 1.3388 should be accompanied by a pronounced movement to the level of 1.3326. The potential value for the bottom is the level of 1.3285, after which we expect consolidation, as well as a rollback to the top.

The consolidated movement is possible in the corridor of 1.3529 - 1.3564 and the breakdown of the last value will have to form an upward structure. Here, the potential target is 1.3608.

The main trend is the formation of a local structure for the downward movement of May 14.

Trading recommendations:

Buy: Take profit:

Buy: 1.3565 Take profit: 1.3607

Sell: 1.3445 Take profit: 1.3412

Sell: 1.3386 Take profit: 1.3328

For the Dollar / Franc pair, the key levels on the scale of H1 are: 1.0055, 1.0027, 1.0007, 0.9955, 0.9933, 0.9918, 0.9881 and 0.9854. Here, the price forms the expressed initial conditions for the downward movement from May 10, which is inconsistent with the main trend for the Euro / Dollar pair. The continuation of the movement downwards is expected after the breakdown of 0.9955. In this case, the target is 0.9933 and the pass at the price of the noise range of 0.9933 - 0.9918 should be accompanied by a pronounced downward movement. Here, the target is 0.9881. The potential value for the bottom is the level of 0.9854, from which we expect a rollback to correction.

The short-term upward movement is possible in the corridor of 1.0007 - 1.0027 and the breakdown of the last value will have to form an upward structure. Here, the first target is 1.0055.

The main trend is the downward structure of May 10.

Trading recommendations:

Buy: 1.0007 Take profit: 1.0025

Buy: 1.0029 Take profit: 1.0055

Sell: 0.9955 Take profit: 0.9933

Sell: 0.9918 Take profit: 0.9881

For the pair Dollar / Yen, the key levels on the scale of H1 are: 112.12, 111.82, 111.38, 110.96, 110.54, 110.31 and 110.02. Here, we follow the development of the upward structure of May 4. At the moment, we expect the move to the level of 111.38, near which the consolidation. The potential value for the top is the level of 111.82, upon reaching which we expect consolidation in the corridor of 111.82 - 112.12, as well as a pullback downwards.

The short-term downward movement is possible in the corridor of 110.54 - 110.31 and the breakdown of the last value will lead to an in-depth correction. Here, the target is 110.02 and this level is the key support for the top.

The main trend is the upward structure of May 4.

Trading recommendations:

Buy: 110.98 Take profit: 111.36

Buy: 111.40 Take profit: 111.80

Sell: 110.52 Take profit: 110.33

Sell: 110.28 Take profit: 110.04

For the Canadian Dollar / Dollar pair, the key levels on the H1 scale are: 1.3133, 1.3074, 1.3032, 1.2970, 1.2922, 1.2853, 1.2807, 1.2748 and 1.2685. Here, the price forms the initial conditions for the upward trend of May 17. The continued upward movement is expected after the breakdown of 1.2922. In this case, the target is 1.2970 and near this level is the consolidation. The passage at the level of 1.2970 should be accompanied by a pronounced upward movement. Here, the target is 1.3032 and in the corridor of 1.3032 - 1.3074 is the consolidation of the price. The potential value for the top is the level of 1.3133.

The short-term downward movement is possible in the range of 1.2853 - 1.2807, hence the high probability of turning up. The breakdown level of 1.2805 will favor the development of a downward movement. The goal here is 1.2748.

The main trend is the formation of the upward potential of May 17.

Trading recommendations:

Buy: 1.2922 Take profit: 1.2970

Buy: 1.2972 Take profit: 1.3030

Sell: 1.2850 Take profit: 1.2810

Sell: 1.2805 Take profit: 1.2750

For the pair AUD / USD, the key levels on the scale of H1 are: 0.7679, 0.7622, 0.7599, 0.7563, 0.7503, 0.7480, 0.7445, 0.7408 and 0.7359. Here, the resumption of the upward trend is expected after the breakdown of 0.7563. In this case, the first target is 0.7599 and in the corridor of 0.7599 - 0.7622 is the consolidation. The potential value for the top is the level of 0.7679, upon which we expect the consolidated movement, as well as a possible pullback downwards.

The short-term downward movement is possible in the hallway of 0.7503 - 0.7480 and the breakout of the last reading will favor the development of the downward trend. The goal here is 0.7445 in the corridor of 0.7445 - 0.7408, also expect a short-term move to the bottom. The potential value for the downward movement is the level of 0.7359, from which we expect a pullback to the top.

The main trend is the upward structure of May 9.

Trading recommendations:

Buy: 0.7563 Take profit: 0.7598

Buy: 0.7624 Take profit: 0.7676

Sell: 0.7503 Take profit: 0.7481

Sell: 0.7478 Take profit: 0.7447

For the pair of Euro / Yen, the key levels on the scale of H1 are: 132.26, 131.78, 131.40, 130.98, 129.61, 129.18, 128.85 and 128.15. Here, the price entered the equilibrium situation. The continuation of traffic to the top is possible after the breakdown of 130.98. In this case, the first target is 131.40 and in the corridor of 131.40 - 131.78 is the consolidation. The potential value for the ascending structure is, for the time being, the level of 132.26.

The development of the downward movement from May 14, we expect after the breakdown of 129.61. Here, the first target is 129.18 and in the corridor of 129.18 - 128.85 is the consolidation. The potential value for the bottom is the level of 128.15, from which we expect the departure to correction.

The main trend is the equilibrium situation. The formation of the potential for the bottom of May 14.

Trading recommendations:

Buy: 131.00 Take profit: 131.40

Buy: 131.42 Take profit: 131.75

Sell: 129.60 Take profit: 129.20

Sell: 128.85 Take profit: 128.20

For the Pound / Yen pair, the key levels on the scale of H1 are: 152.16, 151.36, 150.81, 150.01, 149.00, 148.35, 147.84, 147.00, 145.75 and 145.12. Here, we follow the upward structure of May 8. The continued upward movement is expected after the breakdown of 150.01. In this case, the target is 150.81 and in the corridor of 150.81 - 151.36 is the consolidation of the price. The potential value for the top is the level of 152.16, upon reaching which we expect a departure to correction.

We expect the departure to the correction zone after the breakdown at 149.00. In this case, the target is 148.35. The short-term downward movement is possible in the corridor of 148.35 - 147.84 and the breakdown of the last value will have to develop a downward structure. In this case, the target is 147.00 and near this level is the consolidation.

The main trend is the upward structure of May 8.

Trading recommendations:

Buy: 150.05 Take profit: 150.80

Buy: 150.84 Take profit: 151.30

Sell: 149.00 Take profit: 148.40

Sell: 147.80 Take profit: 147.00