12.05.202009:04 Forex Analysis & Reviews: Fractal analysis of the main currency pairs on May 12

Forecast for May 12:

Analytical review of currency pairs on the scale of H1:

For the euro / dollar pair, the key levels on the H1 scale are: 1.0945, 1.0922, 1.0886, 1.0844, 1.0798, 1.0766 and 1.0728. Here, the continuation of the upward movement is possible after the breakdown of the level of 1.0844. In this case, the first target is 1.0886. The breakdown of which should be accompanied by a pronounced upward movement. In this case, the target is 1.0922. For the potential value for the top, we consider the level of 1.0945. Upon reaching which, we expect a downward pullback.

The development of the descending structure is expected after the breakdown of the level of 1.0798. In this case, the first goal is 1.0766. For the potential value for the bottom, we consider the level of 1.0728. Upon reaching which, we expect an upward pullback.

The main trend is the price is close to the cancellation of the upward structure of May 7

Trading recommendations:

Buy: 1.0844 Take profit: 1.0884

Buy: 1.0887 Take profit: 1.0920

Sell: 1.0796 Take profit: 1.0768

Sell: 1.0764 Take profit: 1.0730

For the pound / dollar pair, the key levels on the H1 scale are: 1.2463, 1.2394, 1.2352, 1.2264, 1.2211, 1.2143 and 1.2093. Here, the price forms the potential for the downward movement of May 8. The continuation of the downward movement is expected after the breakdown of the level of 1.2264. In this case, the target is 1.2211. The breakdown of the last level will lead to a pronounced movement. Here, the goal is 1.2143. For the potential value for the bottom, we consider the level 1.2093. After which, we expect consolidation, as well as an upward pullback.

A short-term upward movement is possible in the range of 1.2352 - 1.2394. The breakdown of the latter level will favor the development of an upward structure. Here, the first potential target is 1.2463.

The main trend is the formation of the downward structure of May 8

Trading recommendations:

Buy: 1.2352 Take profit: 1.2392

Buy: 1.2395 Take profit: 1.2460

Sell: 1.2264 Take profit: 1.2213

Sell: 1.2209 Take profit: 1.2145

For the dollar / franc pair, the key levels on the H1 scale are: 0.9819, 0.9785, 0.9758, 0.9741, 0.9709, 0.9687, 0.9660 and 0.9642. Here, we are following the descending structure of May 7. At the moment, the price is in the initial conditions for this trend. Short-term downward movement is expected in the range of 0.9709 - 0.9687. Price consolidation is in this range and from here, we expect a key reversal upwards. The breakdown of the level of 0.9687 should be accompanied by the development of pronounced movement to the bottom. Here, the target is 0.9660. For the potential value for the downward trend, we consider the level of 0.9642.

A short-term upward movement is possible in the range of 0.9741 - 0.9758. The breakdown of the last level will have the subsequent development of an upward trend. Here, the first target is 0.9785. For the potential value for the top, we consider the level of 0.9819.

The main trend is the descending structure of May 7

Trading recommendations:

Buy : 0.9741 Take profit: 0.9756

Buy : 0.9760 Take profit: 0.9785

Sell: 0.9709 Take profit: 0.9688

Sell: 0.9685 Take profit: 0.9662

For the dollar / yen pair, the key levels on the scale are : 108.29, 108.05, 107.76, 107.60, 107.33, 107.15 and 106.88. Here, we are following the development of the ascending structure of May 6. The continuation of the upward movement is expected after the price passes the noise range 107.60 - 107.76. In this case, the target is 108.05. Price consolidation is near this level. For the potential value for the top, we consider the level of 108.29. Upon reaching which, we expect a downward pullback.

A short-term downward movement is possible in the range of 107.33 - 107.15. The breakdown of the last level will lead to an in-depth correction. Here, the target is 106.88. This level is a key support for the upward structure.

Main trend is the upward cycle of May 6

Trading recommendations:

Buy: 107.77 Take profit: 108.00

Buy : 108.05 Take profit: 108.26

Sell: 107.33 Take profit: 107.18

Sell: 107.13 Take profit: 106.90

For the Canadian dollar / US dollar pair, the key levels on the H1 scale are: 1.4189, 1.4150, 1.4094, 1.4065, 1.4006, 1.3971, 1.3933 and 1.3896. Here, we are following the formation of the upward potential of May 11. Short-term upward movement is expected in the range of 1.4065 - 1.4094. The breakdown of the latter value will lead to a pronounced movement. Here, the target is 1.4150. For the potential value for the top, we consider the level of 1.4189. Upon reaching which, we expect a downward pullback.

A short-term downward movement is possible in the range of 1.4006 - 1.3971. The breakdown of the last value will lead to an in-depth correction. In this case, the target is 1.3933. This level is a key support for the top.

The main trend is the formation of the upward potential of May 11

Trading recommendations:

Buy: 1.4065 Take profit: 1.4092

Buy : 1.4096 Take profit: 1.4150

Sell: 1.4006 Take profit: 1.3973

Sell: 1.3968 Take profit: 1.3935

For the Australian dollar / US dollar pair, the key levels on the H1 scale are : 0.6671, 0.6628, 0.6608, 0.6571, 0.6547, 0.6435 and 0.6376. Here, we are following the development of the upward structure from May 7. At the moment, the price is in deep correction and is close to the abolition of the upward trend, which requires a breakdown of the level of 0.6435. In this case, the potential target is 0.6376. The continuation of the upward movement is expected after the breakdown of the level of 0.6508. Here, the first goal is 0.6547. Short-term upward movement is expected in the range of 0.6547 - 0.6571. The breakdown of the last value should be accompanied by a pronounced upward movement. In this case, the target is 0.6608. Price consolidation is in the range of 0.6608 - 0.6628. For the potential value for the top, we consider the level of 0.6671. Upon reaching which, we expect a downward pullback.

The main trend is the rising structure of May 7, the stage of deep correction

Trading recommendations:

Buy: 0.6508 Take profit: 0.6545

Buy: 0.6547 Take profit: 0.6570

Sell : 0.6435 Take profit : 0.6380

Sell: Take profit:

For the euro / yen pair, the key levels on the H1 scale are: 117.49, 117.00, 116.79, 116.42, 116.18, 115.70, 115.42, 115.06 and 114.43. Here, we are following the development of the ascending structure of May 6. Short-term upward movement is expected in the range of 116.18 - 116.42. The breakdown of the latter level will allow us to expect movement to the level - 117.00, after which we expect consolidation in the range of 116.79 - 117.00. For the potential value for the top, we consider the level of 117.49. Upon reaching which, we expect a downward pullback.

A short-term downward movement is possible in the range of 115.70 - 115.42. The breakdown of the last value will lead to an in-depth correction. Here, the goal is 115.06. This level is a key support for the top and the price passing this level will lead to the development of a downward structure. Here, the potential goal is 114.43.

The main trend is the upward structure of May 6

Trading recommendations:

Buy: 116.43 Take profit: 116.77

Buy: 117.00 Take profit: 117.47

Sell: 115.70 Take profit: 115.44

Sell: 115.40 Take profit: 115.08

For the pound / yen pair, the key levels on the H1 scale are : 134.76, 134.25, 133.46, 133.16, 132.48 and 131.54. Here, we are following the formation of the ascending structure of May 7. The continuation of the upward movement is expected after the price passes the noise range of 133.16 - 133.46. In this case, the target is 134.25. For the potential value for the top, we consider the level of 134.76. Upon reaching which, we expect consolidation, as well as a downward pullback.

A short-term downward movement is expected after the breakdown of the last level in the range of 132.48 - 132.08 to lead to an in-depth correction. Here, the goal is 131.54. This level is a key support for the top.

The main trend is the formation of the ascending structure of May 7.

Trading recommendations:

Buy: 133.46 Take profit: 134.25

Buy: 134.27 Take profit: 134.74

Sell: 132.48 Take profit: 132.10

Sell: 132.06 Take profit: 131.55