10.09.202013:14 Forex Analysis & Reviews: Fractal analysis for major currency pairs on September 10

Outlook on September 10:

Analytical overview of currency pairs on the H1 scale:

The key levels for the euro/dollar pair on the H1 chart are: 1.1948, 1.1918, 1.1897, 1.1867, 1.1816, 1.1795 and 1.1753. Here, the price is in a correction from the downward trend on September 1. The upward movement is expected to continue after breaking through the level of 1.1867. In this case, the target is 1.1897. On the other hand, there is a short-term upward movement and consolidation in the range of 1.1897 - 1.1918. We consider the level 1.1948 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 1.1816 - 1.1795, a breakdown of the last value will encourage further development of a downward trend. In this case, the first target is 1.1753.

The main trend is the downward cycle from September 1, the correction stage.

Trading recommendations:

Buy: 1.1867 Take profit: 1.1896

Buy: 1.1897 Take profit: 1.1918

Sell: 1.1816 Take profit: 1.1796

Sell: 1.1790 Take profit: 1.1753

The key levels for the pound/dollar pair are 1.3214, 1.3164, 1.3124, 1.3076, 1.2989, 1.2955, 1.2887 and 1.2806. The price is in a correction from the downward trend of September 1. Here, the upward movement is expected to continue after the breakdown of 1.3076. In this case, the target is 1.3124. On the other hand, there is a short-term upward movement and consolidation in the range of 1.3124 - 1.3164. For the potential value for the top, we consider the level of 1.3214. Upon reaching which, we expect a downward pullback.

A short-term downward movement is expected in the range of 1.2989 - 1.2955. The breakdown of the last value will be conducive to the subsequent development of the downward trend. In this case, the first potential target is 1.2887. We consider the level 1.2806 as the potential value for the bottom.

The main trend is the descending structure from September 1, the correction stage.

Trading recommendations:

Buy: 1.3076 Take profit: 1.3124

Buy: 1.3125 Take profit: 1.3164

Sell: 1.2989 Take profit: 1.2956

Sell: 1.2945 Take profit: 1.2888

The key levels for the dollar/franc pair are 0.9156, 0.9129, 0.9108, 0.9072, 0.9038, 0.8992 and 0.8963. Here, we expect the formation of initial conditions for the downward cycle from September 8. The downward movement is expected to continue after the breakdown of 0.9072. In this case, the target is 0.9038. There is consolidation near this level. The breakdown of the level of 0.9038 will lead to a pronounced downward movement. Here, the target is 0.8992. For the potential value for the bottom, we consider the level of 0.8963. Upon reaching which, we expect a pullback into the correction.

A short-term upward movement is possible in the range of 0.9108 - 0.9129. If the last value breaks down, a deep correction will emerge. Here, the potential target is 0.9156, which is the key support for the downward structure.

The main trend is building potential for the bottom of September 8

Trading recommendations:

Buy : 0.9108 Take profit: 0.9127

Buy : 0.9131 Take profit: 0.9155

Sell: 0.9072 Take profit: 0.9040

Sell: 0.9036 Take profit: 0.8992

The key levels for the dollar yen 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. Here, the price is currently in the correction zone. The continued growth is expected after the breakdown of the level of 106.47. In this case, the target is 106.77. Meanwhile, there is a short-term upward movement, as well as consolidation in the range of 106.77 - 107.02. The breakdown of the last level will allow us to count on a movement to the potential target - 107.33. Upon reaching which, we expect consolidation in the range 107.33 - 107.53 and as a key reversal into the correction.

A consolidated movement is possible in the range of 106.00 - 105.79. If the last value breaks down, there will be a deep correction. Here, the target is 105.52, which is the key resistance level for the subsequent development of the 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: 105.76 Take profit: 105.52

Sell: 105.50 Take profit: 105.28

The key levels for the USD/CAD pair are 1.3342, 1.3308, 1.3259, 1.3214, 1.3190, 1.3169, 1.3127, 1.3095, 1.3050 and 1.3019. Here, we are following the development of the upward cycle from September 1. At the moment, the price is in correction and is forming a potential for the low from September 9. A short-term downward movement is expected in the range of 1.3127 - 1.3095. If the last value breaks down, it will lead to a strong downward movement. Here, the target is 1.3050. We consider the level of 1.3019 as a potential value for the bottom; Upon reaching this level, we expect an upward pullback.

Meanwhile, a short-term upward movement is possible in the range of 1.3169 - 1.3190. If the last value breaks down, it will lead to a deep correction. Here, the target is 1.3214, which is a key support for the downward structure from September 9 and its breakdown will lead to the subsequent development of an upward trend. In this case, the first potential target is 1.3259.

The main trend is the upward cycle from September 1, the correction stage.

Trading recommendations:

Buy: 1.3190 Take profit: 1.3214

Buy : 1.3216 Take profit: 1.3259

Sell: 1.3127 Take profit: 1.3097

Sell: 1.3093 Take profit: 1.3050

The key levels for the AUD/USD pair are 0.7389, 0.7362, 0.7326, 0.7297, 0.7257, 0.7234, 0.7196 and 0.7147. Here, we are watching the formation of the rising initial conditions from September 9th. A short-term upward movement is expected in the range 0.7297 - 0.7326,. In case of breakdown of the last value, a strong movement will emerge. Here, the target is 0.7362. For the potential value for the top, we consider the level of 0.7389. Upon reaching which, we expect consolidation and downward pullback.

A short-term downward movement is expected in the range of 0.7257 - 0.7234. The breakdown of the last value will favor the following development of a downward trend. In this case, the first potential target is 0.7196.

The main trend is the descending structure from September 1, building up potential for the top from September 9

Trading recommendations:

Buy: 0.7298 Take profit: 0.7324

Buy: 0.7327 Take profit: 0.7360

Sell : 0.7257 Take profit : 0.7235

Sell: 0.7233 Take profit: 0.7196

The key levels for the euro/yen pair are 126.79, 126.47, 126.03, 125.69, 125.10, 124.84, 124.40, 123.88 and 123.39. Here, the price is in a correction from the downward trend on September 1 and is forming a potential for the September 9 high. A short-term upward movement is expected in the range of 125.69 - 126.03. If the last value breaks down, it will lead to a strong movement. Here, the target is 126.47. We consider the level of 126.79 as a potential value for the top. Upon reaching which, we expect consolidation and downward pullback.

A short-term downward movement is expected in the range of 125.10 - 124.84. Now, the breakdown of the last value will be conducive to the subsequent development of a downward trend. In this case, the first target is 124.40. The breakdown of which, in turn, should be accompanied by a strong movement towards the potential target - 123.88.

The main trend is a downward cycle from September 1, building up potential for the top from September 9

Trading recommendations:

Buy: 125.70 Take profit: 126.00

Buy: 126.05 Take profit: 126.47

Sell: 125.10 Take profit: 124.85

Sell: 124.82 Take profit: 124.40

The key levels for the pound/yen pair are 139.98, 139.56, 138.94, 138.47, 137.59, 137.30, 136.71, 136.27 and 135.56. We are following the descending structure from September 1 here. At the moment, the price is in correction and is forming a potential for the September 9 high. A short-term upward movement is expected in the range of 138.47 - 138.94. If the last value breaks down, it will lead to a strong upward movement. Here, the target is 139.56. For the potential value for the top, we consider the level of 139.98. Upon reaching which, we expect consolidation and pullback into correction.

We expect the main continuation of the downward trend after the price passes the noise range 137.59 - 137.30. Here, the first target is 136.71. Moreover, there is a short-term downward movement and consolidation in the range of 136.71 - 136.27. For the potential value for the bottom, we consider the level of 135.56. Upon reaching which, we expect an upward pullback.

The main trend is the descending structure from September 1, building up potential for the top from September 9

Trading recommendations:

Buy: 138.48 Take profit: 138.92

Buy: 139.00 Take profit: 139.36

Sell: 137.30 Take profit: 136.71

Sell: 136.70 Take profit: 136.28