17.09.202008:41 Forex Analysis & Reviews: Fractal analysis for major currency pairs on September 17

Outlook on September 17:

Analytical overview of currency pairs on the H1 scale:

The key levels for the euro/dollar pair on the H1 chart are 1.1821, 1.1793, 1.1773, 1.1732, 1.1702, 1.1662 and 1.1638. The price canceled the development of the upward structure and we are following the downward cycle from September 10 here. Now, a short-term downward movement is expected in the range of 1.1732 - 1.1702. If the last value breaks down, we can continue to 1.1662. For the potential value for the bottom, we consider the level of 1.1638. Upon reaching which, we expect consolidation and pullback into correction.

A short-term upward movement is possible in the range of 1.1773 - 1.1793. Breaking through the last value will lead to a deep correction. Here, the target is 1.1821, which is the key support for the downward structure.

The main trend is the downward cycle from September 10.

Trading recommendations:

Buy: 1.1773 Take profit: 1.1792

Buy: 1.1794 Take profit: 1.1820

Sell: 1.1732 Take profit: 1.1703

Sell: 1.1701 Take profit: 1.1662

The key levels for the pound/dollar pair are 1.3174, 1.3140, 1.3079, 1.3034, 1.2979, 1.2903, 1.2857 and 1.2758. We are following the upward structure from September 11. The upward movement is expected to continue after the breakdown of 1.2979. In this case, the target is 1.3034. There is a short-term upward movement and consolidation in the range of 1.3034 - 1.3079. Now, if the level of 1.3080 breaks down, it will lead to a strong upward movement. The target here is 1.3140. For the potential value for the top, we consider the level of 1.3174. Upon reaching which, we expect consolidation and a downward pullback.

A short-term downward movement is expected in the range of 1.2903 - 1.2857. If the last value breaks down, it will favor the development of a downward structure. In this case, the potential target is 1.2758.

The main trend is the upward structure from September 11

Trading recommendations:

Buy: 1.2980 Take profit: 1.3034

Buy: 1.3035 Take profit: 1.3077

Sell: 1.2903 Take profit: 1.2858

Sell: 1.2855 Take profit: 1.2760

The key levels for the dollar/franc pair are 0.9224, 0.9204, 0.9170, 0.9144, 0.9108, 0.9086 and 0.9055. The price here is forming a potential for the upward movement from September 16. In this regard, the upward movement is expected to continue after the breakdown of 0.9144. In this case, the target is 0.9170 and there is consolidation near this level. If the target breaks down, it will lead to a strong upward movement. Our next target will be 0.9204. For the potential value for the top, we consider the level of 0.9224. Upon reaching which, we expect consolidation and downward pullback.

A short-term downward movement is possible in the range of 0.9108 - 0.9086. In case that the last value breaks down, it will encourage the development of a downward trend. In this case, the potential target is 0.9055.

The main trend is the formation of potential for the top from September 16

Trading recommendations:

Buy : 0.9144 Take profit: 0.9170

Buy : 0.9172 Take profit: 0.9204

Sell: 0.9108 Take profit: 0.9088

Sell: 0.9084 Take profit: 0.9057

The key levels for the dollar yen are 105.56, 105.26, 105.09, 104.84, 104.47 and 104.34. The continuation of the development of the downward structure from September 4 is expected after the breakdown of 104.84. In this case, the target is 104.47. We expect a correction from the range of 104.47 - 104.34.

A short-term upward movement is possible in the range of 105.09 - 105.26. If the last value breaks down, it will lead to a deep correction. The target is 105.56, which is the key support for the downward structure.

The main trend is the descending structure from September 4.

Trading recommendations:

Buy: 105.10 Take profit: 105.26

Buy : 105.27 Take profit: 105.52

Sell: 104.82 Take profit: 104.55

Sell: Take profit:

The key levels for the USD/CAD pair are 1.3342, 1.3308, 1.3259, 1.3210, 1.3182, 1.3127 and 1.3095. Here, the price is forming local potential for the September 16 high. The increase is expected to continue after the breakdown of the level of 1.3259. In this case, the target is 1.3308. For the potential value for the upward movement, we consider the level of 1.3342. Upon reaching which, we expect consolidation and a possible downward pullback.

A short-term downward movement is possible in the range of 1.3210 - 1.3182. If the last value breaks down, it will encourage the development of a downward trend. In this case, the first potential target is 1.3127. For the potential value for the bottom, we consider the level of 1.3095.

The main trend is the local structure for the top from September 16

Trading recommendations:

Buy: 1.3260 Take profit: 1.3306

Buy : 1.3309 Take profit: 1.3340

Sell: 1.3210 Take profit: 1.3184

Sell: 1.3180 Take profit: 1.3130

The key levels for the AUD/USD pair are 0.7423, 0.7389, 0.7362, 0.7326, 0.7268, 0.7254 and 0.7196. Here, we are following the upward cycle of September 9th. The growth is expected to continue after the breakdown of the level of 0.7326. In this case, the target is 0.7362. There is a short-term upward movement and consolidation in the range of 0.7362 - 0.7389. On the other hand, we consider the level of 0.7423 as a potential value for the top. Upon reaching which, we expect consolidation and a downward pullback.

The range of 0.7268 - 0.7254 is the key support for the top and the price passing this level will encourage the development of a downward trend. In this case, the potential target is 0.7196.

The main trend is the upward structure from September 9, the stage of correction

Trading recommendations:

Buy: 0.7328 Take profit: 0.7360

Buy: 0.7363 Take profit: 0.7387

Sell : Take profit :

Sell: 0.7252 Take profit: 0.7200

The key levels for the euro/yen pair are 124.40, 124.00, 123.70, 123.33, 122.90, 122.49 and 122.08. We are following the downtrend cycle on September 10 here. In view of this, the downward movement is expected to continue after the breakdown of the level of 123.31. In this case, the target is 122.90, the breakdown of which will allow counting on the movement to the level of 122.49. There is consolidation near this value, and hence there is a high probability of an upward reversal. For the potential value for the bottom, we consider the level of 122.08. Upon reaching which, we expect an upward pullback.

A short-term upward movement is expected in the range of 123.70 - 124.00. If the last value breaks down, it will lead to a deep correction. The target is 124.40, which is the key support for the downward structure.

The main trend is the downward cycle from September 10.

Trading recommendations:

Buy: 123.70 Take profit: 124.00

Buy: 124.03 Take profit: 124.40

Sell: 123.30 Take profit: 122.93

Sell: 122.86 Take profit: 122.50

The key levels for the pound/yen pair are 138.34, 137.59, 137.11, 136.49, 135.41, 134.59, 133.63 and 132.97. We are following the local descending structure from September 10 here. Now, a short-term downward movement is expected in the range of 135.41 - 134.59. If the last value breaks down, it will lead to a strong movement. Here, the target is 133.63. For the potential value for the bottom, we consider the level of 132.97. Upon reaching which, we expect consolidation and upward pullback.

A short-term upward movement is expected in the range of 136.49 - 137.11. The range of 137.11 - 137.59 is the key support for the downward structure and the price passing this level will encourage the formation of initial conditions for the top. Here, the potential target is 138.34.

The main trend is the local descending structure of September 10

Trading recommendations:

Buy: 136.50 Take profit: 137.10

Buy: 137.60 Take profit: 138.34

Sell: 135.40 Take profit: 134.60

Sell: 134.55 Take profit: 133.65