25.08.202012:56 Forex Analysis & Reviews: Fractal analysis of main currency pairs on August 25, 2020

Outlook on August 25:

Analytical overview of currency pairs on the H1 scale:

The key levels for the euro/dollar pair on the H1 chart are 1.1884, 1.1846, 1.1824, 1.1775, 1.1749, 1.1729, 1.1695 and 1.1641. The development of a downward cycle from August 18 is being followed here. A short-term downward movement is expected in the range 1.1775 - 1.1749. The price overcoming the noise range 1.1749 - 1.1729 should be accompanied by a strong downward movement to the level of 1.1695. A consolidation is possible near this level and we consider the level of 1.1641 for the potential level below. Upon reaching this level, an upward pullback should be expected.

A short-term upward movement is possible within the levels of 1.1824 - 1.1846. If the price breaks the last value, it may face a deeper correction. The goal is 1.1884. This level is a key support for the downward structure from August 18.

The main tendency is the formation of a declining structure from August 18

Trading recommendations:

Buy: 1.1824 Take profit: 1.1844

Buy: 1.1848 Take profit: 1.1884

Sell: 1.1775 Take profit: 1.1749

Sell: 1.1729 Take profit: 1.1695

The key levels for the pound/dollar pair are 1.3255, 1.3182, 1.3140, 1.3112, 1.3052, 1.2992, 1.2922 and 1.2873. The local downward structure from August 21 is followed here. The continuation of the downward movement is expected after breaking through 1.3052. In this case, the target is 1.2992, there is consolidation near this level. If the level of 1.2992 breaks down, there will be a strong downward movement. The goal is 1.2922. We consider the level of 1.2873 as a potential value for the bottom. Upon reaching which, we expect consolidation and an upward pullback.

A short-term upward movement is possible within the levels of 1.3112 - 1.3140. If the last value breaks down, we will face a deeper correction. The goal is 1.3182. This is the key support level for the downward structure.

The main tendency is the local descending structure of August 21

Trading recommendations:

Buy: 1.3112 Take profit: 1.3140

Buy: 1.3142 Take profit: 1.3180

Sell: 1.3052 Take profit: 1.2994

Sell: 1.2990 Take profit: 1.2924

The key levels for the dollar/franc pair are 0.9278, 0.9221, 0.9199, 0.9169, 0.9142, 0.9088, 0.9065 and 0.9045. The formation of the August 18 upward structure is being followed here. A short-term upward movement is expected in the range 0.9142 - 0.9169, Breaking through the last value will lead to the level of 0.9199. Short-term upward movement and consolidation are in the range of 0.9199 - 0.9221. We consider the level of 0.9278 as a potential value for the top; upon reaching this level, we expect a downward pullback.

A short-term downward movement is possible in the range of 0.9088 - 0.9065. The key support for the top is the level of 0.9045. The price passing through this level will encourage the development of a downward trend. In this case, the potential target is 0.9007.

The main tendency is the formation of an upward structure from August 18

Trading recommendations:

Buy : 0.9142 Take profit: 0.9169

Buy : 0.9171 Take profit: 0.9199

Sell: 0.9088 Take profit: 0.9065

Sell: 0.9064 Take profit: 0.9046

The key levels for the dollar/yen pair are 107.25, 106.96, 106.57, 106.26, 105.92, 105.75, 105.47 and 105.12. We are following the development of the August 19th upward structure. A short-term upward movement is expected in the range of 106.26 - 106.57. If the price passes the level of 106.58, it will lead to a strong upward movement. The target is 106.96. Meanwhile, we consider the 107.25 level as a potential value for the top. Upon reaching which, we expect consolidation and a downward pullback.

A short-term downward movement is likely in the range of 105.92 - 105.75. A break of the last value will lead to a deeper correction. The target is 105.47, which acts as the key support for the top. The price overcoming this will favor the development of a downward structure. In this case, the potential target is 105.12.

The main tendency is the upward structure from August 19

Trading recommendations:

Buy: 106.27 Take profit: 106.55

Buy : 106.58 Take profit: 106.94

Sell: 105.92 Take profit: 105.76

Sell: 105.73 Take profit: 105.48

The key levels for the USD/CAD pair are 1.3346, 1.3319, 1.3282, 1.3239, 1.3177, 1.3143, 1.3096, 1.3061 and 1.3006. The price is forming a potential for the upward movement from August 24th. A short-term upward movement is expected in the range 1.3239 - 1.3282, After breaking the last value, we can continue to move to the level of 1.3319. We consider the level of 1.3346 for the potential value for the top; upon reaching which, consolidation and a downward pullback can be expected.

A short-term downward movement is possible within the levels of 1.3177 - 1.3143. The breakdown of the last value will allow us to continue the movement to the level of 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, consolidation and an upward pullback can be expected.

The main tendency is the formation of potential for the top from August 24

Trading recommendations:

Buy: 1.3240 Take profit: 1.3280

Buy : 1.3283 Take profit: 1.3319

Sell: 1.3177 Take profit: 1.3145

Sell: 1.3140 Take profit: 1.3096

The key levels for the AUD/USD pair are 0.7240, 0.7218, 0.7201, 0.7160, 0.7143, 0.7106, 0.7083 and 0.7045. We monitor the formation of the potential for the downward cycle of August 19. A short-term downward movement is expected in the range of 0.7160 - 0.7143, the breakdown of the last value should be accompanied by a downward movement. The goal is 0.7106. There is a short-term downward movement, as well as consolidation in the range of 0.7106 - 0.7083. For the potential value for the bottom, we consider the level of 0.7045. Upon reaching which, we expect consolidation and an upward pullback.

A short-term upward movement is expected within the levels of 0.7201 - 0.7218. If the last value breaks down, a deep correction is likely. The goal is 0.7240, which acts as a key support for the downward structure from August 19. The price passing this level will lead to the formation of initial conditions for an upward cycle. In this case, the target is 0.7278.

The main tendency is the formation of a descending structure from August 19

Trading recommendations:

Buy: 0.7219 Take profit: 0.7240

Buy: 0.7242 Take profit: 0.7278

Sell : 0.7142 Take profit : 0.7108

Sell: 0.7105 Take profit: 0.7084

The key levels for the euro/yen pair are 126.55, 126.21, 125.98, 125.64, 125.30, 125.05 and 124.82. We are following the August 21 upward structure here. The continuation of the upward movement is expected after the breakdown of 125.64 level. In this case, the goal is 125.98. There is a short-term upward movement and consolidation in the range of 125.98 - 126.21. For the potential value for the top, we consider the level of 126.55. Upon reaching which, we can expect consolidation, as well as a downward pullback.

A short-term downward movement is expected in the range of 125.30 - 125.05. The breakdown of the last value will lead to a deep correction. The goal is 124.82, which is the key support for the upward structure and its breakdown will lead to the development of a downward trend.

The main tendency is the upward structure of August 21

Trading recommendations:

Buy: 125.66 Take profit: 125.98

Buy: 126.00 Take profit: 126.20

Sell: 125.30 Take profit: 125.08

Sell: 125.03 Take profit: 124.84

The key levels for the pound/yen pair are 139.33, 138.96, 138.74, 138.26, 137.77, 137.17 and 136.74. We are following the local downward structure from August 21st. The continuation of the downward movement is expected after the breakdown of 138.26. In this case, the goal is 137.77. There is consolidation near this level. The breakdown of 137.75 will lead to the development of a strong downward movement. The goal is 137.17. We consider the level of 136.74 as a potential value for the bottom; upon reaching which, an upward pullback can be expected.

A short-term upward movement is possible in the range of 138.96 - 139.33. The breakout of the last value will lead to the formation of an upward structure. In this case, the first potential target is 139.92.

The main tendency is the local downward structure of August 21, correction phase.

Trading recommendations:

Buy: 139.35 Take profit: 139.80

Buy: Take profit:

Sell: 138.24 Take profit: 137.80

Sell: 137.75 Take profit: 137.20