21.09.201708:10 Forex Analysis & Reviews: Fractal analysis of major currency pairs on September 21

Dear colleagues.

For the pair Euro / Dollar, after the lifting of the ascending structure, we returned to the consideration of the medium-term downward cycle from September 8. For the Pound / Dollar pair, the movement is considered downward as a correction and we expect the initial conditions in this area to be formalized. For the pair Dollar / Frank, the position of the upward cycle from September 8 is more stable than in the Euro. For the pair Dollar / Yen, the continuation of the upward movement is expected after the breakdown of 112.80. For the pair Euro / Yen, the continuation of the upward movement is expected after the breakdown of 134.05. For the Pound / Yen pair, we continue to monitor the upward structure of September 14.

Forecast for September 21:

Analytical review of currency pairs on the scale of H1:

For the EUR / USD pair, the key levels on the scale of H1 are: 1.1987, 1.1940, 1.1914, 1.1864, 1.1829, 1.1801 and 1.1762. Here, we returned to the consideration of the descending structure of September 8 as the main one. The continued downward movement is expected after the breakdown of 1.1864. In this case, the target is 1.1829 and in the corridor of 1.1829 - 1.1801 is the consolidation of the price. The potential value for the bottom is still the level of 1.1762, from which we expect a rollback into the correction.

The short-term upward movement is possible in the corridor of 1.1914-1.1940 and the breakdown of the last value will lead to an in-depth correction. Here, the target is -1.1987 and this level is the key support for the downward structure.

The main trend is the downward cycle from September 8.

Trading recommendations:

Buy: 1.1914 Take profit: 1.1938

Buy: 1.1942 Take profit: 1.1985

Sell: 1.1862 Take profit: 1.1830

Sell: 1.1800 Take profit: 1.1764

For the Pound / Dollar pair, the key levels on the scale of H1 are: 1.3786, 1.3694, 1.3650, 1.3580, 1.3448 and 1.3382. Here, we continue to follow the upward cycle of September 14. The continued upward movement is expected after the breakdown of 1.3580. Here, the first target is 1.3650. The short-term uptrend is possible in the corridor of 1.3650 - 1.3694 and the breakdown of the last value will lead to a movement to the potential target of 1.3786, upon reaching which we expect a pullback downwards.

The short-term downward movement is possible in the corridor of 1.3448 - 1.3382 and the breakdown of the latter value will lead to the development of a downward structure. In this case, the potential target is 1.3173.

The main trend is the local structure from September 14, the correction stage.

Trading recommendations:

Buy: 1.3580 Take profit: 1.3648

Buy: 1.3650 Take profit: 1.3692

Sell: 1.3445 Take profit: 1.3384

Sell: 1.3380 Take profit: 1.3275

For the pair Dollar / Franc, the key levels on the scale of H1 are: 0.9868, 0.9810, 0.9779, 0.9725, 0.9683, 0.9656 and 0.9606. Here, we continue to follow the upward structure of September 8. The continued upward movement is expected after the breakdown of 0.9725. Here, the first target is 0.9779 and in the corridor of 0.9779 - 0.9810 is the short-term upward movement, as well as consolidation. The potential value for the top is the level of 0.9868, from which we expect a pullback downwards.

The short-term downtrend is expected in the range of 0.9683 - 0.9656 and the breakdown of the last value will lead to an in-depth correction. Here, the target is 0.9606 and this level is the key support for the top on the scale of H1. Its breakdown will allow us to count on the movement to the potential target of 0.9539.

The main trend is the upward structure of September 8.

Trading recommendations:

Buy: 0.9725 Take profit: 0.9778

Buy: 0.9810 Take profit: 0.9865

Sell: 0.9683 Take profit: 0.9658

Sell: 0.9654 Take profit: 0.9608

For the pair Dollar / Yen, the key levels on the scale of H1 are: 114.24, 113.25, 112.79, 111.92, 111.27, 110.90, 110.08 and 109.01. Here, we continue to follow the upward structure of September 8. The short-term upward movement is expected in the corridor of 112.79 - 113.25 and the breakdown of the last value will allow us to count on the movement to the potential target of 114.24, from which we expect a pullback downwards.

Care in the correction zone is possible after the breakdown of 111.90. Here, the goal is 111.27 and the range of 111.27 - 110.90 is the key support for the top. Its passage at the price will have to develop a downward structure. In this case, the target is 110.08.

The main trend is the upward structure of September 8.

Trading recommendations:

Buy: 112.80 Take profit: 113.22

Buy: 113.27 Take profit: 114.20

Sell: 111.90 Take profit: 111.30

Sell: 110.88 Take profit: 110.10

For the Canadian Dollar / Dollar pair, the key levels on the scale of H1 are: 1.2551, 1.2504, 1.2402, 1.2354, 1.2265, 1.2222, 1.2159 and 1.2021. Here, we follow the development of the ascending structure of September 8. The short-term upward movement is possible in the range of 1.2354 - 1.2402 and the breakdown of the latter value will lead to the development of a pronounced movement. Here, the target is 1.2504. The potential value for the top is the level of 1.2551, from which we expect a pullback downwards.

The short-term downward movement is possible in the corridor of 1.2265 - 1.2222 and the breakdown of the last value will lead to an in-depth correction. Here, the target is 1.2159 and this level is the key support for the top. Its breakdown will have a downward structure. In this case, the potential target is 1.2021.

The main trend is the upward structure of September 8.

Trading recommendations:

Buy: 1.2354 Take profit: 1.2400

Buy: 1.2406 Take profit: 1.2500

Sell: 1.2265 Take profit: 1.2224

Sell: 1.2220 Take profit: 1.2160

For the Australian Dollar / Dollar pair, the key levels on the scale of H1 are: 0.8129, 0.8092, 0.8042, 0.8019, 0.7983, 0.7951, 0.7910, 0.7883 and 0.7846. Here, the situation has entered the equilibrium state: the upward structure of September 18, as well as the formation of a local structure for the bottom of September 20. The continued downward movement is expected after the breakdown of 0.7983. In this case, the target is 0.7951 and near this level is the consolidation. The breakdown of 0.7950 should be accompanied by a pronounced downward movement. Here, the target is 0.7910 and in the corridor of 0.7910 - 0.7883 is the consolidation. The potential value for the bottom is the level of 0.7846, upon reaching which we expect a rollback to the top.

The short-term upward movement is possible in the corridor of 0.8042 - 0.8019 and the breakdown of the last value will have to the subsequent development of the upward structure from September 18. Here, the first target is 0.8092. The potential value for the top is still the level of 0.8129.

The main trend is the equilibrium situation.

Trading recommendations:

Buy: 0.8020 Take profit: 0.8040

Buy: 0.8045 Take profit: 0.8090

Sell: 0.7981 Take profit: 0.7954

Sell: 0.7948 Take profit: 0.7912

For the pair of Euro / Yen, the key levels on the scale of H1 are: 136.47, 135.61, 134.95, 134.00, 133.21, 132.51, 131.53 and 130.67. Here, we continue to follow the upward structure of September 15. The continued upward movement is expected after the breakdown of 134.05. In this case, the target is 134.95 and in the corridor of 134.95 - 135.61 is the consolidation. The potential value for the top is the level of 136.47, from which we expect a pullback downwards.

The short-term downward movement is possible in the corridor of 133.21 - 132.51 and the breakdown of the latter value will lead to the formation of a downward structure. Here, the target is 131.53 and this level is the key resistance for the subsequent development of a downward trend.

The main trend is the local structure for the top of September 15.

Trading recommendations:

Buy: 134.05 Take profit: 134.95

Buy: 134.98 Take profit: 135.60

Sell: 133.20 Take profit: 132.55

Sell: 132.46 Take profit: 131.55

For the Pound / Yen pair, the key levels on the scale of H1 are: 156.45, 155.47, 153.96, 152.84, 150.20, 149.53, 148.52 and 146.86. Here, we continue to follow the upward structure of September 14. At the moment, it is possible to move to the level of 152.84, after which we expect consolidation in the corridor of 152.84 - 153.96. The break level at 154.00 should be accompanied by a pronounced movement to the level of 155.47. The potential value for the top is the level of 156.45.

The short-term downward movement is possible in the corridor of 150.20 - 149.53 and the breakdown of the last value will lead to an in-depth correction. Here, the target is 148.52 and this level is the key support for the top. Its breakdown will have to develop the descending structure.

The main trend is the local cycle of September 14.

Trading recommendations:

Buy: 152.84 Take profit: 153.92

Buy: 154.00 Take profit: 155.45

Sell: 150.20 Take profit: 149.55

Sell: 149.48 Take profit: 148.60