04.09.202009:36 Forex Analysis & Reviews: Fractal analysis for main currency pairs on September 4

Outlook on September 4:

Analytical overview of currency pairs on the H1 scale:

The key levels for the euro/dollar pair on the H1 chart are 1.1878, 1.1845, 1.1825, 1.1793, 1.1756, 1.1734 and 1.1688. We are following the development of the downtrend cycle on September 1. Here, the decline is expected to continue after the breakdown of 1.1793. In this case, the target is 1.1756. Meanwhile, there is a short-term downward movement and consolidation in the range of 1.1756 - 1.1734. We consider the level of 1.1688 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 1.1845 - 1.1878, breaking through the last value will encourage the formation of potential initial conditions. The target is 1.1916.

The main trend is the downward cycle from September 1

Trading recommendations:

Buy: 1.1847 Take profit: 1.1876

Buy: 1.1880 Take profit: 1.1914

Sell: 1.1790 Take profit: 1.1757

Sell: 1.1754 Take profit: 1.1735

The key levels for the pound/dollar pair are 1.3394, 1.3348, 1.3325, 1.3280, 1.3253, 1.3212, 1.3188 and 1.3134. We are following the descending structure from September 1st. On the other hand, a short-term downward movement is expected in the range of 1.3280 - 1.3253, breaking through the last value will lead to a strong decline. The target is 1.3212. It is followed by another short-term downward movement and consolidation in the range of 1.3212 - 1.3188. We consider the level of 1.3134 as a potential value for the bottom. Upon reaching which, we expect an upward pullback.

A short-term upward movement is expected in the range of 1.3325 - 1.3348, breaking through the last value will lead to a strong movement. Here, the target is 1.3394, which is the key support for the downward movement.

The main trend is the descending structure from September 1.

Trading recommendations:

Buy: 1.3325 Take profit: 1.3346

Buy: 1.3350 Take profit: 1.3394

Sell: 1.3251 Take profit: 1.3212

Sell: 1.3187 Take profit: 1.3135

The key levels for the dollar/franc pair are 0.9239, 0.9202, 0.9174, 0.9134, 0.9090, 0.9072, 0.9038 and 0.8998. The price is forming potential initial conditions from the September 1 cycle. The upward movement, in turn, is expected to continue after the breakdown of 0.9134. In this case, the target is 0.9174. There is a short-term upward movement and consolidation in the range of 0.9174 - 0.9202. Now, we consider the level 0.9239 as a potential value for the top. Upon reaching which, we expect a downward pullback.

A short-term decline is possible in the range of 0.9090 - 0.9072. If the last value breaks down, a deep correction will emerge. Here, the potential target is 0.9038, which is the key support level for the top.

The main trend is the formation of initial conditions for the top from September 1

Trading recommendations:

Buy : 0.9134 Take profit: 0.9174

Buy : 0.9176 Take profit: 0.9202

Sell: 0.9090 Take profit: 0.9072

Sell: 0.9070 Take profit: 0.9040

The key levels for the dollar/yen pair are 107.53, 107.33, 107.02, 106.77, 106.47, 106.47, 106.00, 105.79 and 105.52. We are following the upward structure from August 28. Now, the upward movement is expected to continue after the breakdown of the level of 106.47. In this case, the target is 106.77. There is a short-term upward movement and consolidation in the range of 106.77 - 107.02. If the last value breaks down, it will allow us to count on a movement to the potential target - 107.33. Upon reaching which, consolidation in the range 107.33 - 107.53, as well as a key reversal into the correction are expected.

A short-term downward movement is possible in the range of 106.00 - 105.79, breaking through the last value will lead to a deep correction. Here, the target is 105.52, which is the key resistance for the following development of a downward trend.

The main trend is the upward structure from August 28.

Trading recommendations:

Buy: 106.48 Take profit: 106.77

Buy : 106.78 Take profit: 107.00

Sell: 106.00 Take profit: 105.80

Sell: 105.76 Take profit: 105.52

The key levels for the USD/CAD pair are 1.3276, 1.3233, 1.3214, 1.3181, 1.3157, 1.3107, 1.3084 and 1.3048. We are following the development of the upward cycle from September 1 here. Moreover, a short-term upward movement is expected in the range 1.3157 - 1.3181, breaking through the last value will lead to a pronounced upward movement. Here, the target is 1.3214. Price consolidation is in the range of 1.3214 - 1.3233. Meanwhile, we consider the level 1.3276 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 1.3107 - 1.3084. If the last value breaks down, a deep correction will emerge. Here, the target is 1.3048, which is the key support for the top.

The main trend is the upward cycle from September 1

Trading recommendations:

Buy: 1.3157 Take profit: 1.3180

Buy : 1.3182 Take profit: 1.3214

Sell: 1.3107 Take profit: 1.3085

Sell: 1.3082 Take profit: 1.3050

The key levels for the AUD/USD pair are 0.7346, 0.7308, 0.7289, 0.7257, 0.7230, 0.7210 and 0.7174. We are following the development of the downward trend cycle from September 1. Here, the downward movement is expected to continue after the breakdown of 0.7257. In this case, the target is -0.7230. There is a short-term downward movement and consolidation in the range of 0.7230 - 0.7210. For the potential value for the bottom, we consider the level of 0.7174, the movement to which is expected after the breakdown of the level of 0.7210.

A short-term upward movement is expected in the range of 0.7289 - 0.7308. Now, breaking through the last value will lead to a deep correction. The target is 0.7346, which is the support level for the bottom.

The main trend is the descending structure from September 1

Trading recommendations:

Buy: 0.7289 Take profit: 0.7306

Buy: 0.7310 Take profit: 0.7344

Sell : 0.7255 Take profit : 0.7230

Sell: 0.7228 Take profit: 0.7210

The key levels for the euro/yen pair are 126.15, 125.87, 125.34, 125.13, 124.78, 124.57 and 124.17. We are following the descending structure from September 1st here. Now, a short-term downward movement is expected in the range of 125.34 - 125.13, breaking through the last value should be accompanied by a strong decline. Here, the target is 124.78. On the other hand, there is a short-term downward movement and consolidation in the range of 124.78 - 124.57. We consider the level 124.17 as a potential value for the bottom, from which we expect an upward pullback.

A short-term upward movement is expected in the range of 125.87 - 126.15. If the last value breaks down, it will encourage the formation of initial conditions for an upward cycle. In this case, the targets have not yet been determined.

The main trend is the downward cycle from September 1

Trading recommendations:

Buy: 125.87 Take profit: 126.13

Buy: Take profit:

Sell: 125.13 Take profit: 124.78

Sell: 124.55 Take profit: 124.18

The key levels for the pound/yen pair are 142.00, 141.45, 141.17, 140.56, 140.34, 139.71, 139.26 and 138.62. We are following the descending structure from September 1 here. Now, the downward movement is expected to continue after the price passes the noise range 140.56 - 140.34. In this case, the target is 139.71. There is a short-term downward movement and consolidation in the range of 139.71 - 139.26. Moreover, we consider the level 138.62 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 141.17 - 141.45, breaking through the last value will lead to a deep correction. Here, the target is 142.00, which is the key support level for the downward structure.

The main trend is the upward structure from August 24

Trading recommendations:

Buy: 141.17 Take profit: 141.44

Buy: 141.50 Take profit: 142.00

Sell: 140.34 Take profit: 139.74

Sell: 139.70 Take profit: 139.30