18.08.201709:32 Forex Analysis & Reviews: Fractal analysis of major currency pairs on August 18

Dear colleagues.

For EUR / USD pair, we follow the formation of the downward structure of August 11. For the GBP / USD pair, we expect to see a correction in the downward structure. For the USD / CHF pair, the price forms the potential for a downward cycle from August 16 with more chances for development than the EUR / USD pair. For the USD / JPY pair, we follow the downward structure of August 16. For the EUR / JPY pair, we follow the formation of the downward structure of August 16. For the GBP / JPY pair, the continuation of the movement downwards is expected after the breakdown of 140.60.

Forecast for August 18:

Analytical review of currency pairs in the scale of H1:

For the EUR / USD pair, the key levels on the scale of H1 are: 1.1846, 1.1806, 1.1783, 1.1688, 1.1647, 1.1588 and 1.1564. Here, we continue to follow the downward structure from August 11. Cancellation is possible if the price of the noise range of 1.1783-1.1806 is surpassed. In this case, the first target is 1.1846. The continuation of the downward movement is expected after the breakdown of 1.1725. In this case, the first target is 1.1688. The breakdown of this level will allow us to count on the movement towards the level of 1.1647. Near this level is the consolidation of the price. Breaking the level of 1.1645 should be accompanied by a pronounced movement towards the level of 1.1588, upon reaching which we expect consolidation in the area of 1.1588 - 1.1564.

The main trend is the formation of a downward structure from August 11.

Trading recommendations:

Buy: 1.1807 Take profit: 1.1844

Buy: Take profit:

Sell: 1.1725 Take profit: 1.1690

Sell: 1.1686 Take profit: 1.1648

For the GBP / USD pair, the key levels on the scale of H1 are: 1.2998, 1.2945, 1.2905, 1.2838, 1.2802 and 1.2749. Here, we continue to follow the development of the downward structure from August 3 where an upward movement is considered as a correction. Short-term downward movement is expected in the range of 1.2838 - 1.2802. The breakdown of the last value will lead to a movement towards the potential target of 1.2749. From this level, we expect a rollback to correction.

Short-term upward movement is possible in the range of 1.2905 - 1.2945. The breakdown of the latter value will lead to in-depth movement. Here, the target is 1.2998. This level is the key support for the bottom.

The main trend is the downward structure of August 3.

Trading recommendations:

Buy: 1.2905 Take profit: 1.2944

Buy: 1.2947 Take profit: 1.2995

Sell: 1.2838 Take profit: 1.2805

Sell: 1.2800 Take profit: 1.2750

For the USD / CHF pair, the key levels on the scale of H1 are: 0.9697, 0.9662, 0.9640, 0.9603, 0.9579, 0.9530 and 0.9495. Here, the price forms the potential for the downward cycle from August 16. The breakdown at the level of 0.9603 will initiate the development of this structure. Here, the first target is 0.9579. The breakdown of 0.9579 should be accompanied by a pronounced downward movement to the level of 0.9530. The potential value for the bottom is the level of 0.9495, upon which we expect consolidation, as well as a rollback to the top.

Short-term upward movement is possible in the area of 0.9640 - 0.9662. The breakdown of the last value will lead to in-depth movement. Here, the target is 0.9697. This level is the key support for the downward structure from August 16.

The main trend is the formation of a downward structure from August 16.

Trading recommendations:

Buy: 0.9640 Take profit: 0.9660

Buy: 0.9664 Take profit: 0.9695

Sell: 0.9603 Take profit: 0.9580

Sell: 0.9575 Take profit: 0.9530

For the USD / JPY pair, the key levels on the scale of H1 are: 110.18, 109.85, 109.57, 109.17, 108.68, 108.32 and 107.85. Here, we follow the formation of a downward structure from August 16. The continuation of the movement downwards is expected after the breakdown of 109.17. In this case, the target is 108.68. The breakdown of this level will lead to a short-term downward movement to the level of 108.32. In the area of 108.68 -108.32 is the consolidation of the price. The potential value for the bottom is the level of 107.85.

Short-term upward movement is possible in the area of 109.57 - 109.85. The breakdown of the last value will lead to in-depth correction. Here, the target is 110.18. This level is the key support for the downward structure of August 16.

The main trend is the downward structure of August 16.

Trading recommendations:

Buy: 109.57 Take profit: 109.85

Buy: 109.87 Take profit: 110.15

Sell: 109.15 Take profit: 108.70

Sell: 108.65 Take profit: 108.36

For the CAD / USD pair, the key levels on the scale of H1 are: 1.2717, 1.2673, 1.2592, 1.2540, 1.2471 and 1.2425. Here, we follow the formation of a downward structure from August 15. Continued downward movement is expected after the breakdown of 1.2592. In this case, the target is 1.2540. Near this level is the consolidation of the price. Breaking the level of 1.2540 should be accompanied by a pronounced downward movement. Here, the target is 1.2471. The potential value for the bottom is the level of 1.2425, upon reaching which we expect the movement towards correction.

Short-term upward movement is possible in the area of 1.2673 - 1.2717. The breakdown of the last value will have an upward structure, In this case, the potential target is 1.2780.

The main trend is the formation of a downward structure from August 15.

Trading recommendations:

Buy: 1.2675 Take profit: 1.2715

Buy: 1.2719 Take profit: 1.2780

Sell: 1.2590 Take profit: 1.2545

Sell: 1.2538 Take profit: 1.2475

For the AUD / USD pair, the key levels on the scale of H1 are: 0.8097, 0.8056, 0.8004 0.7960, 0.7893, 0.7856 and 0.7802. Here, we follow the formation of the upward structure of August 15. Continued upward movement is expected after the breakdown of 0.7960. In this case, the target is 0.8004. It is also in this range where the consolidation may happen. Breaking the level of 0.8006 will allow us to count on the movement towards the level of 0.8056. The potential value for the top is the level 0.8097, from which we expect a pullback downwards.

Short-term downward movement is possible in the range of 0.7893 - 0.7856. Hence, the probability of a turn up is high. Breaking the level of 0.7856 will have a downward structure. Here, the first target is 0.7802.

The main trend is the upward structure of August 15.

Trading recommendations:

Buy: 0.7960 Take profit: 0.8002

Buy: 0.8006 Take profit: 0.8055

Sell: 0.7890 Take profit: 0.7857

Sell: 0.7854 Take profit: 0.7802

For the EUR / JPY pair, key levels on the scale of H1 are: 129.60, 128.93, 128.53, 127.90, 127.22, 126.75 and 126.10. Here, we follow the formation of a downward structure from August 16. Continued downward movement is expected after the breakdown of 127.90. In this case, the target is 127.22. If this goal is achieved, we expect consolidation in the range of 127.22 - 126.75. The potential value for the bottom is the level of 126.10, upon reaching which, we expect a movement towards correction.

Short-term upward movement is possible in the area of 128.53 - 128.93. The breakdown of the last value will lead to in-depth movement. Here, the target is 129.60. This level is the key support for the bottom.

The main trend is the formation of a downward structure from August 16.

Trading recommendations:

Buy: 128.55 Take profit: 128.90

Buy: 128.95 Take profit: 129.45

Sell: 127.90 Take profit: 127.30

Sell: 127.20 Take profit: 126.80

По паре Фунт/Иена ключевыми уровнями в масштабе Н1 являются: 141.94, 141.47, 141.12, 140.62, 140.22, 139.92 и 139.31. Здесь мы следим For the GBP / JPY pair, the key levels on the scale of H1 are: 141.94, 141.47, 141.12, 140.62, 140.22, 139.92 and 139.31. Here, we follow the development of the downward cycle from August 15. Continued downward movement is expected after the breakdown of 140.62. In this case, the target is 140.22. In the area of 140.22 - 139.92 is the consolidation of the price. The potential value for the bottom is the level of 139.31, which is expected to move after the breakdown of 139.85.

Short-term upward movement is possible in the area of 141.12 - 141.47. The breakdown of the last value will lead to in-depth correction. Here, the target is 141.94. This level is the key support for the downward structure from August 15. Before it happens, we expect the formation of initial conditions for the upward cycle.

The main trend is the downward cycle from August 15.

Trading recommendations:

Buy: 141.12 Take profit: 141.45

Buy: 141.55 Take profit: 141.94

Sell: 140.60 Take profit: 140.25

Sell: 139.90 Take profit: 139.40