21.08.201908:19 Forex Analysis & Reviews: Fractal analysis for major currency pairs as of August 21

Hello, dear colleagues.

For the Euro/Dollar pair, the price is in the correction zone and the expressed structure for the top is expected to reach the level of 1.1124. For the Pound/Dollar pair, the price has issued the local structure of August 20 and the continuation of the movement is expected after the breakdown of 1.2185. For the Dollar/Franc pair, the subsequent development of the upward trend from August 13 is expected after the breakdown of 0.9816 and the level of 0.9745 is the key support. For the Dollar/Yen pair, the continuation of the upward movement is expected after the breakdown of 106.91 and the level of 105.64 is the key support. For the Euro/Yen pair, the level of 117.58 is the key resistance for the subsequent development of the downward structure from August 13. For the Pound/Yen pair, the subsequent development of the upward structure from August 12 is expected after the breakdown of 129.70 and the level of 127.94 is the key support.

Forecast for August 21:

Analytical review of the currency pairs in H1 scale:

For the Euro/Dollar pair, the key levels in H1 scale are 1.1124, 1.1102, 1.1073, 1.1062, 1.1032 and 1.1011. The price is in correction from the downward structure on August 13. The short-term downward is expected in the range of 1.1073 – 1.1062 and the breakdown of the last value will lead to a pronounced movement. The target is 1.1032 and near this level is the consolidation of the price and hence the probability of going into correction is high. The potential value for the downward trend is the level of 1.1032.

The breakdown of the level of 1.1107 will lead to the formation of a pronounced potential for the top. In this case, the first target is 1.1124 and consolidation is near this level.

The main trend is the downward cycle of August 13, the stage of correction.

Trading recommendations:

Buy 1.1108 Take profit: 1.1122

Buy Take profit:

Sell: 1.1060 Take profit: 1.1035

Sell: 1.1030 Take profit: 1.1011

For the Pound/Dollar pair, the key levels on the H1 scale are 1.2263, 1.2219, 1.2203, 1.2184, 1.2149, 1.2131 and 1.2105. The price forms a local structure for the subsequent development of the upward trend. The continuation of the upward movement is expected after the breakdown of 1.2185. In this case, the target is 1.2203 and consolidation is near this level. The passage of the price of the range of 1.2203 – 1.2219 should be accompanied by a pronounced upward movement. The target is 1.2263 and we expect a rollback to the bottom from this level.

The short-term downward movement is possible in the area of 1.2149 – 1.2131 and the breakdown of the last value will lead to a prolonged correction. The target is 1.2105 and this level is the key support for the upward structure.

The main trend is the local structure for the top from August 20

Trading recommendations:

Buy: 1.2185 Take profit: 1.2203

Buy: 1.2220 Take profit: 1.2260

Sell: 1.2147 Take profit: 1.2133

Sell: 1.2129 Take profit: 1.2105

For the Dollar/Franc pair, the key levels in the H1 scale are 0.9949, 0.9923, 0.9883, 0.9854, 0.9816, 0.9768, 0.9745, and 0.9714. We follow the upward structure from August 13. The continuation of the upward movement is expected after the breakdown of 0.9816. In this case, the target is 0.9854 and in the area of 0.9854 – 0.9883 is the short-term upward movement, as well as consolidation. The breakdown of the level of 0.9883 should be accompanied by a pronounced upward movement. The target is 0.9923. We consider the level of 0.9949 as a potential value for the top, upon reaching which, we expect consolidation, as well as a pullback to the bottom.

The short-term downward movement is possible in the area of 0.9768 – 0.9745 and the breakdown of the last value will lead to an in-depth correction. The target is 0.9714 and this level is the key support for the top.

The main trend is the upward cycle of August 13.

Trading recommendations:

Buy: 0.9816 Take profit: 0.9854

Buy: 0.9856 Take profit: 0.9881

Sell: 0.9768 Take profit: 0.9747

Sell: 0.9743 Take profit: 0.9715

For the Dollar/Yen pair, the key levels in the H1 scale are 108.62, 108.14, 107.45, 106.91, 106.35, 105.94, 105.64 and 105.01. We continue to follow the upward structure from 12. The continuation of the upward movement is expected after the breakdown of 106.91. In this case, the target is 107.45 and consolidation is near this level. The breakdown of 107.45 should be accompanied by a pronounced upward movement. The target is 108.14. We consider the level of 108.62 as a potential value for the top, upon reaching which, we expect a rollback to the bottom.

The range of 105.94 – 105.64 is the key support for the top. Its passage at the price will have to develop a downward movement. In this case, the target is 105.01.

The main trend: building potential for the top of August 12.

Trading recommendations:

Buy: 106.91 Take profit: 107.43

Buy: 107.47 Take profit: 108.14

Sell: Take profit:

Sell: 105.62 Take profit: 105.04

For the Canadian dollar/Dollar pair, the key levels on the H1 scale are 1.3445, 1.3422, 1.3385, 1.3361, 1.3337, 1.3288, 1.3265, 1.3240 and 1.3194. We follow the development of the local upward structure from August 9. At the moment, the price has issued a local structure for the top from August 19. The continuation of the upward movement is expected after the breakdown of 1.3337. In this case, the target is 1.3361 and in the area of 1.3361 – 1.3385 is the consolidation. A breakdown of the level of 1.3385 will allow us to count on movement towards a potential target of 1.3422, upon reaching this level, we expect consolidation in the area of 1.3422 – 1.3444, as well as a pullback to the bottom.

The short-term downward movement is possible in the area of 1.3288 – 1.3265 and the breakdown of the last value will lead to an in-depth correction. The target is 1.3240 and this level is the key support for the top.

The main trend is the local upward structure of August 9, the local structure of August 19.

Trading recommendations:

Buy: 1.3337 Take profit: 1.3360

Buy: 1.3387 Take profit: 1.3422

Sell: 1.3288 Take profit: 1.3266

Sell: 1.3264 Take profit: 1.3240

For the Australian dollar/Dollar pair, the key levels on the H1 scale are 0.6967, 0.6922, 0.6902, 0.6869, 0.6843, 0.6803, 0.6762, 0.6733 and 0.6675. We follow the development of the upward structure from August 7 and the price has issued a small potential for the top from August 14. The resumption of the upward movement is expected after the breakdown of 0.6803. In this case, the first target is 0.6843 and in the area of 0.6843 – 0.6869 is the short-term upward movement, as well as consolidation. The breakdown of the level of 0.6870 should be accompanied by a pronounced upward movement. The target is 0.6902 and in the area of 0.6902 – 0.6922 is the consolidation. We consider the level of 0.6967 as a potential value for the top, upon reaching which, we expect a rollback to the bottom.

A consolidated movement is expected in the area of 0.6762 – 0.6733 and the breakdown of the level of 0.6733 will lead to the development of a downward structure. In this case, the potential target is 0.6675.

The main trend is the upward structure of August 7, the stage of correction.

Trading recommendations:

Buy: 0.6805 Take profit: 0.6840

Buy: 0.6844 Take profit: 0.6867

Sell: 0.6760 Take profit: 0.6736

Sell: 0.6730 Take profit: 0.6680

For the Euro/Yen pair, the key levels on the H1 scale are 119.40, 118.65, 118.22, 117.58, 117.16 and 116.54. We are following the development of the local capacity for the bottom from August 13. The short-term downward movement is expected in the range of 117.58 – 117.16. The breakdown of the last value will allow counting on the movement to the potential target of 116.54 and consolidation is near this level.

The short-term upward movement is expected in the area of 118.22 – 118.65 and the breakdown of the last value will have to form an upward structure for the top. The first target is 119.40.

The main trend is the formation of a local downward structure from August 13.

Trading recommendations:

Buy: 118.22 Take profit: 118.62

Buy: 118.70 Take profit: 119.40

Sell: 117.56 Take profit: 117.18

Sell: 117.14 Take profit: 116.55

For the Pound/Yen pair, the key levels on the H1 scale are 132.17, 131.23, 130.57, 129.66, 127.94, 127.33, 126.48 and 125.57. We follow the development of the upward structure from August 12. The short-term upward movement is expected in the range of 129.00 – 129.66 and the breakdown of the last value will lead to a pronounced upward movement. The target is 130.57 and in the area of 130.57 – 131.23 is the short-term upward movement, as well as consolidation. We consider the level of 132.17 as a potential value for the top, upon reaching which, we expect consolidation, as well as a rollback to the bottom.

The short-term downward movement is possible in the area of 127.94 – 127.33 and the breakdown of the last value will have to develop a downward structure. The first target is 126.48. We consider the level of 125.57 as a potential value.

The main trend is the formation of the potential for the top of August 12.

Trading recommendations:

Buy: 129.67 Take profit: 130.55

Buy: 130.60 Take profit: 131.20

Sell: 127.30 Take profit: 126.50

Sell: 126.44 Take profit: 125.60