19.08.202009:21 Forex Analysis & Reviews: Fractal analysis for major currency pairs on August 19, 2020

Forecast for August 19:

Analytical overview of currency pairs on the H1 scale:

The key levels for the euro / dollar pair on the H1 scale are: 1.2034, 1.1985, 1.1963, 1.1924, 1.1897 and 1.1855. Here, we are following the upward structure from August 12. A short-term upward movement is expected in the range of 1.1963 - 1.1985, hence there is a high probability of a downward reversal. The breakdown of the level of 1.1985 will lead to a movement to a potential target. In this case, the target is 1.2034. There is consolidation, as well as a downward pullback near this level.

A short-term downward movement is possible in the range of 1.1924 - 1.1897. The breakdown of the last value will lead to a deep correction. Here, the target is 1.1897. This is a key support level for the local upward structure of August 12.

The main trend is the local upward structure of August 12

Trading recommendations:

Buy: 1.1963 Take profit: 1.1984

Buy: 1.1986 Take profit: 1.2034

Sell: 1.1924 Take profit: 1.1900

Sell: 1.1895 Take profit: 1.1857

The key levels for the pound / dollar pair on the H1 scale are: 1.3368, 1.3313, 1.3287, 1.3215, 1.3193 and 1.3151. Here, we are following the upward structure from August 12th. A short-term upward movement is possible in the range of 1.3287 - 1.3313. The breakdown of the last value will lead to a pronounced movement. Here, the potential target is 1.3368. Upon reaching which, we expect consolidation, as well as a downward pullback.

A short-term downward movement is possible in the range 1.3215 - 1.3193. The breakdown of the last value will lead to a deep correction. Here, the target is 1.3151. This is a key support level for the top.

The main trend is the upward structure from August 12

Trading recommendations:

Buy: 1.3287 Take profit: 1.3313

Buy: 1.3315 Take profit: 1.3365

Sell: 1.3215 Take profit: 1.3194

Sell: 1.3190 Take profit: 1.3151

The key levels for the dollar / franc pair on the H1 scale are: 0.9122, 0.9093, 0.9073, 0.9021, 0.8994, 0.8957 and 0.8933. Here, we are following the downward structure from August 12th. At the moment, a movement to the level of 0.9021 is expected. A short-term downward movement, as well as consolidation are in the range of 0.9021 - 0.8994. The breakdown of the level 0.8994 should be accompanied by a pronounced downward movement. In this case, the target is 0.8957. For the potential value for the bottom, we consider the level of 0.8933. Upon reaching which, we expect consolidation, as well as an upward pullback.

A short-term upward movement is possible in the range of 0.9073 - 0.9093. The breakdown of the last value will lead to a deep correction. Here, the target is 0.9122. This is a key support level for the bottom.

The main trend is the descending structure from August 12

Trading recommendations:

Buy : 0.9073 Take profit: 0.9092

Buy : 0.9095 Take profit: 0.9120

Sell: 0.9020 Take profit: 0.8996

Sell: 0.8992 Take profit: 0.8958

The key levels for the dollar / yen pair on the scale are : 106.26, 106.10, 105.84, 105.68, 105.20, 105.00, 104.82 and 104.55. Here, we are following the development of the downtrend cycle from August 14. The continuation of the downward movement is expected after the breakdown of the level of 105.20. In this case, the target is 105.00. There is a short-term downward movement, as well as consolidation in the range of 105.00 - 104.82. We consider the level of 104.55 as a potential value for the bottom. Upon reaching which, we expect an upward pullback.

A short-term upward movement is possible in the range of 105.68 - 105.84. The breakout of the last value will lead to a deep correction. Here, the target is 106.10. The range of 106.10 - 106.26 is the key support for the downward structure. We expect the formation of pronounced initial conditions for the upward cycle before it.

The main trend is the downward cycle of August 14

Trading recommendations:

Buy: 105.68 Take profit: 105.82

Buy : 105.86 Take profit: 106.10

Sell: 105.20 Take profit: 105.00

Sell: 104.98 Take profit: 104.84

The key levels for the Canadian dollar / US dollar pair on the H1 scale are: 1.3282, 1.3239, 1.3204, 1.3143, 1.3096, 1.3061 and 1.3006. Here, we are following the development of the downward structure from August 7th. The continuation of the downward movement is expected after the breakdown of the level of 1.3143. Here, the target is 1.3096. Price consolidation is in the range of 1.3096 - 1.3061. We consider the level of 1.3006 as a potential value for the bottom. Upon reaching which, we expect consolidation, as well as an upward pullback.

A short-term upward movement is possible in the range of 1.3204 - 1.3239. The breakdown of the last value will lead to a deep correction. Here, the target is 1.3282. This is the key support level for the downward structure.

The main trend is the descending structure from August 7

Trading recommendations:

Buy: 1.3204 Take profit: 1.3237

Buy : 1.3240 Take profit: 1.3282

Sell: 1.3142 Take profit: 1.3096

Sell: 1.3094 Take profit: 1.3061

The key levels for the Australian dollar / US dollar pair on the H1 scale are : 0.7341, 0.7318, 0.7286, 0.7271, 0.7229, 0.7204 and 0.7184. Here, we are following the development of the upward cycle from August 12. A short-term upward movement is expected in the range of 0.7271 - 0.7286. The breakdown of the last value will lead to a pronounced upward movement. Here, the target is 0.7318. We consider the level of 0.7341 as a potential value for the top. Upon reaching which, we expect consolidation in the range of 0.7318 - 0.7341, as well as a downward pullback.

The level of 0.7229 is the key support for the top and the price passing this level will lead to the development of a corrective movement. In this case, the target is 0.7204. For the potential value for the bottom, we consider the level of 0.7184, up to which we expect the initial conditions for the downward cycle to be formed.

The main trend is the upward cycle of August 12

Trading recommendations:

Buy: 0.7287 Take profit: 0.7318

Buy: 0.7320 Take profit: 0.7340

Sell : 0.7227 Take profit : 0.7204

Sell: 0.7203 Take profit: 0.7185

The key levels for the euro / yen pair on the H1 scale are: 127.36, 127.09, 126.63, 126.18, 125.47, 124.93 and 124.68. Here, we are following the downward structure from August 13 as the main trend. The downward movement is expected to continue after the breakdown of the level of 125.47. In this case, the target is 124.93. For now, we consider the level of 124.68 as a potential value, near which we expect consolidation.

The resumption of the upward movement is possible after the breakdown of the level of 126.18. Here, the first target is 126.63. The breakdown of which will lead to a pronounced upward movement. Here, the target is 127.09. We consider the level of 127.36 as a potential value for the top. Upon reaching which, we expect consolidation, as well as a downward pullback.

The main trend is the descending structure from August 13

Trading recommendations:

Buy: 126.18 Take profit: 126.60

Buy: 126.65 Take profit: 127.09

Sell: 125.47 Take profit: 124.95

Sell: 124.91 Take profit: 124.68

The key levels for the pound / yen pair on the H1 scale are: 141.20, 140.79, 140.50, 140.09, 139.40, 139.10 and 138.57. Here, the price forms a local upward structure from August 18. The continuation of the upward movement is expected after the breakdown of the level of 140.10. In this case, the target is 140.50. There is a short-term upward movement, as well as consolidation in the range of 140.50 - 140.79. We consider the level of 141.20 as a potential value for the top. Upon reaching which, we expect a downward pullback.

A short-term downward movement is possible in the range of 139.40 - 139.10. The breakout of the last value will encourage the formation of a downward structure. In this case, the potential target is 138.57.

The main trend is the local upward structure of August 18

Trading recommendations:

Buy: 140.10 Take profit: 140.50

Buy: 140.52 Take profit: 140.77

Sell: 139.40 Take profit: 139.12

Sell: 139.06 Take profit: 138.70