11.08.202009:39 Forex Analysis & Reviews: Fractal analysis for major currency pairs for August 11, 2020

Forecast for August 11:

Analytical overview of currency pairs on the H1 scale:

The key levels for the euro / dollar pair on the H1 scale are: 1.1915, 1.1853, 1.1800, 1.1768, 1.1733, 1.1693, 1.1629, 1.1588 and 1.1526. Here, the price is forming a potential for the downward movement from August 6th. A short-term downward movement is expected in the range of 1.1733 - 1.1693. The breakdown of the last value should be accompanied by a pronounced downward movement. In this case, the target is 1.1629. Price consolidation is in the range of 1.1629 - 1.1588. We consider the level of 1.1526 as a potential value for the bottom and upon reaching which, we expect an upward pullback.

A short-term upward movement is possible in the range of 1.1768 - 1.1800. The breakdown of the last level will lead to a deep correction. Here, the target is 1.1853. This is the key support level for the downward structure from August 6.

The main trend is the descending structure from August 6

Trading recommendations:

Buy: 1.1768 Take profit: 1.1800

Buy: 1.1804 Take profit: 1.1850

Sell: 1.1733 Take profit: 1.1700

Sell: 1.1690 Take profit: 1.1630

The key levels for the pound / dollar pair on the H1 scale are: 1.3185, 1.3108, 1.3066, 1.2997, 1.2943, 1.2873, 1.2824 and 1.2764. Here, we are following the formation of the downtrend structure from August 6th. A short-term downward movement is expected in the range of 1.2997 - 1.2943. The breakdown of the last level should be accompanied by a pronounced downward movement. Here, the target is 1.2873. There is a short-term downward movement and consolidation in the range of 1.2873 - 1.2824. For the potential value for the bottom, we consider the level of 1.2764. Upon reaching which, we expect an upward pullback.

A consolidated movement is possible in the range of 1.3066 - 1.3108. The breakdown of the last value will encourage the formation of an upward structure. In this case, the potential target is 1.3185.

The main trend is the formation of a descending structure from August 6

Trading recommendations:

Buy: Take profit:

Buy: 1.3110 Take profit: 1.3185

Sell: 1.2997 Take profit: 1.2945

Sell: 1.2940 Take profit: 1.2873

The key levels for the dollar / franc pair on the H1 scale are: 0.9308, 0.9268, 0.9240, 0.9199, 0.9150, 0.9117, 0.9090 and 0.9047. Here, we are following the bullish structure on August 5. The continuation of the upward movement is expected after the breakdown of the level of 0.9200. In this case, the target is 0.9240. There is a short-term upward movement, as well as consolidation in the range of 0.9240 - 0.9268. We consider the level 0.9308 as a potential value for the top. Upon reaching which, we expect consolidation, as well as a downward pullback.

A short-term downward movement is possible in the range of 0.9150 - 0.9117. The breakdown of the last value will lead to a deep correction. Here, the target is 0.9090. This is a key support level for the upward structure.

The main trend is the upward structure from August 5

Trading recommendations:

Buy : 0.9200 Take profit: 0.9240

Buy : 0.9243 Take profit: 0.9265

Sell: 0.9150 Take profit: 0.9120

Sell: 0.9116 Take profit: 0.9090

The key levels for the dollar / yen pair on the scale are : 107.99, 107.51, 106.78, 106.19, 105.61, 105.33, 104.91 and 104.21. Here, the price is forming a potential for the July 31 upward cycle. The continuation of the upward movement is expected after the breakdown of the level of 106.19. In this case, the target is 106.78. There is consolidation near this level. The breakdown of the level of 106.80 will lead to the development of a pronounced upward movement. In this case, the target is 107.51. We consider the level of 107.99 as a potential value for the top. Upon reaching which, we expect consolidation, as well as a downward pullback.

A consolidated movement is possible in the range of 105.61 - 105.33. The breakdown of the last value will lead to a deep correction. Here, the target is 104.91. Upon reaching which, we expect consolidation and its breakdown will lead to the cancellation of the upward structure from July 31.

The key trend: building capacity for the top from July 31

Trading recommendations:

Buy: 106.20 Take profit: 106.74

Buy : 106.80 Take profit: 107.50

Sell: 105.30 Take profit: 104.94

Sell: 104.90 Take profit: 104.25

The key levels for the Canadian dollar / US dollar pair on the H1 scale are: 1.3511, 1.3477, 1.3422, 1.3380, 1.3318, 1.3285 and 1.3230. Here, the price forms a potential for the upward movement from August 5th. The continuation of the upward movement is expected after the breakdown of the level of 1.3380. In this case, the target is 1.3422. There is consolidation near this level. The breakdown of the level 1.3424 will lead to a pronounced upward movement. Here, the target is 1.3477. We consider the level of 1.3511 as a potential value for the top. Upon reaching which, we expect consolidation, as well as a downward pullback.

A short-term downward movement is possible in the range of 1.3318 - 1.3285, hence the probability of an upward reversal is high. The breakdown of the level of 1.3285 will encourage the formation of a local downward structure. In this case, the potential target is 1.3230.

The main trend is the downward cycle from July 30, the stage of deep correction

Trading recommendations:

Buy: 1.3380 Take profit: 1.3420

Buy : 1.3424 Take profit: 1.3475

Sell: 1.3318 Take profit: 1.3287

Sell: 1.3283 Take profit: 1.3235

The key levels for the Australian dollar / US dollar pair on the H1 scale are : 0.7371, 0.7306. 0.7283, 0.7255, 0.7181, 0.7158, 0.7117 and 0.7078. Here, we are monitoring the upward potential from August 3. The downward movement is expected to continue after the breakdown of the level of 0.7255. In this case, the target is 0.7283. There is consolidation near this level. The price penetration of the noise range 0.7283 - 0.7306 will lead to a pronounced upward movement. Here, the potential target is 0.7371.

A short-term downward movement is possible in the range of 0.7158 - 0.7117. The breakdown of the last value will lead to the cancellation of the upward structure. Here, the potential target is 0.7078.

The main tendency is the formation of potential for the top from August 3, the stage of deep correction

Trading recommendations:

Buy: 0.7215 Take profit: 0.7255

Buy: 0.7257 Take profit: 0.7283

Sell : 0.7156 Take profit : 0.7120

Sell: 0.7115 Take profit: 0.7078

The key levels for the euro / yen pair on the H1 scale are: 126.32, 125.80, 125.54, 125.11, 124.81, 124.37 and 123.82. Here, we are following the upward structure from July 24. The price is currently in correction. The continuation of the upward movement is expected after the breakdown of the level of 125.11. In this case, the first target is 125.54. A short-term upward movement is expected in the range 125.54 - 125.80. The breakdown of the last value will lead to a movement to a potential target of 126.32. Upon reaching which, we expect a downward pullback.

The level of 124.37 is a key support for the top and its breakdown will encourage the formation of a downward structure. Here, the potential target is 123.82. We expect the formation of pronounced initial conditions for a downward cycle before this level.

The main trend is the upward structure from July 24, the stage of correction

Trading recommendations:

Buy: 125.11 Take profit: 125.50

Buy: 125.55 Take profit: 125.80

Sell: 124.35 Take profit: 123.90

Sell: Take profit:

The key levels for the pound / yen pair on the H1 scale are : 140.25, 139.65, 138.95, 138.15, 137.73 and 137.29. Here, we are following the upward structure on July 17. The continuation of the upward movement is expected after the breakdown of the level of 138.95. In this case, the potential target is 139.65. There is consolidation near this level. For the potential value for the top, we consider the level of 140.25. Upon reaching which, we expect consolidation, as well as a downward pullback.

A short-term downward movement is possible in the range of 138.15 - 137.73. The breakdown of the last value will lead to a deep correction. Here, the target is 137.29. This is a key support level for the top.

The main trend is the upward structure from July 17

Trading recommendations:

Buy: 138.95 Take profit: 139.60

Buy: 139.70 Take profit: 140.25

Sell: 138.15 Take profit: 137.80

Sell: 137.70 Take profit: 137.30