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Fractal analysis of the major currency pairs on 16 Aug

Analytical reviews Forex 16.08.2019 at 11:51

Daily analytical reviews of the Forex market from InstaForex company

Hello, dear colleagues.

On the EUR/USD pair continue the downward cycle of 13 August is expected after the passage of the noise range 1.1073 – 1.1062. Pair Pound/Dollar followed the development of the upward cycle of 12 August. On the pair Dollar/franc further development of the uptrend from August 13, expected after the breakout 0.9816. USD/JPY continue upward movement is expected after breakdown 106.91, the level of 105.64 key support. For the EUR/Yen 117.58 level is a key resistance for the subsequent development of the downward structure from August 13. On the GBP/Yen the subsequent development of the upward structure from August 12, expected after the breakout 129.66, the level of 127.94 key support.

the Forecast for 1 August 6:

technical analysis of the currency pairs in H1 scale:

On the Euro/Dollar key levels in H1 scale are: 1.1124, 1.1102, 1.1073, 1.1062, 1.1032 and 1.1011. Here we follow the development of the downward structure from August 13. Short-term downward movement is expected in the range 1.1073 – 1.1062, breakout of the last reading will lead to significant motion, here the target – 1.1032, near this level consolidation rates and hence the high probability of leaving the market. The potential value for downward trends consider the level of 1.1032.

a Short-term upward movement is possible in the corridor 1.1088 – 1.1102, breakout of the last reading will lead to a protracted correction, here the goal is 1.1124, this level is a key support for the downward structure.

the Main trend – the downward cycle of 13 August.

Trading recommendations:

Buy 1.1088 Take profit: 1.1100

Buy 1.1105 Take profit: 1.1122

Sell: 1.1060 Take profit: 1.1035

Sell: 1.1030 Take profit: 1.1011

For GBP/USD key levels in H1 scale are: 1.2245, 1.2224, 1.2191, 1.2169, 1.2135, 1.2117 and 1.2081. Here follow the development of the upward cycle from August 12. Short-term upward movement is expected in the corridor 1.2169 – 1.2191, breakout of the last reading should be accompanied by a pronounced upward movement, in this case the target – 1.2224. Potential value for the top believe the level of an early low of 1.2245 at which consolidation is expected, and roll back down.

a Short-term downward movement is possible in the corridor 1.2135 – 1.2117, breakout of the last reading will lead to a protracted correction, here the goal is 1.2081, this level is a key support for the downward structure.

the Main trend – the downward cycle of 31 July.

Trading recommendations:

Buy: 1.2170 Take profit: 1.2190

Buy: 1.2195 Take profit: 1.2224

Sell: 1.2135 Take profit: 1.2118

Sell: 1.2115 Take profit: 1.2081

On the pair Dollar/franc key levels in H1 scale are: 0.9949, 0.9923, 0.9883, 0.9854, 0.9816, 0.9768, 0.9745 and 0.9714. Here, we observe a rising structure from 13 August. Continue the movement upwards is expected after a breakout 0.9816, in this case, the goal is 0.9854, in the corridor 0.9854 – 0.9883 short-term upward movement, and consolidation. The break of the level 0.9883 must be accompanied by a strong upward movement, the aim of 0.9923. Potential value for the top believe the level 0.9949 at which consolidation is expected, and roll back down.

a Short-term downward movement is possible in the corridor 0.9768 – 0.9745, breakout of the last reading will lead to a deeper correction, here the goal is 0.9714, this level is a key support for the top.

the Main trend – upward cycle from 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

On the pair Dollar/Yen key levels in the scale are: 108.62, 108.14, 107.45, 106.91, 106.35, 105.94, 105.64 and 105.01. Here we continue to follow the upward structure from 12. Continue the movement upwards is expected after a breakout 106.91, in this case, the goal is 107.45, near this level consolidation. Breakdown 107.45 must be accompanied by a strong upward movement, here the target – 108.14. Potential value for the top believe the level of 108.62 at which the expected roll back down.

Range 105.94 – 105.64 is a key support for the top, its passage price will have to develop downward movement, in this case the target – 105.01.

the Main trend: capacity-building for the high from 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

a pair Canadian dollar/Dollar key levels in H1 scale are: 1.3445, 1.3422, 1.3385, 1.3361, 1.3329, 1.3288, 1.3265, 1.3240 and 1.3194. Here we follow the development of the local upward structure from August 9. Continue the movement upwards is expected after a breakout of 1.3330, in this case, the goal is 1.3361, in the corridor 1.3361 – 1.3385 consolidation. A break of 1.3385 will allow you to rely on movement to the potential target of 1.3422, reaching this level of consolidation is expected in the corridor 1.3422 – 1.3444, and rolled back down.

a Short-term downward movement is possible in the corridor 1.3288 – 1.3265, breakout of the last reading will lead to a deeper correction, here the goal is 1.3240, this level is a key support for the top.

the Main trend – local upward structure from August 9.

Trading recommendations:

Buy: 1.3330 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

a pair of Australian dollar/Dollar key levels in H1 scale are: 0.6967, 0.6922, 0.6902, 0.6869, 0.6843, 0.6803, 0.6762, 0.6733 and 0.6675. Here we follow the development of the upward structure from August 7, also the price designed a small potential for the high from August 14. The resumption of the upward movement is expected after breakdown 0.6803, in this case the first target – 0.6843, in the corridor 0.6843 – 0.6869 short-term upward movement, and consolidation. The breakdown of the 0.6870 level should be accompanied by a strong upward movement, here the target – 0.6902, in the corridor 0.6902 – 0.6922 consolidation. Potential value for the top believe the level 0.6967 at which the expected roll back down.

In the hallway 0.6762 – 0.6733 expected consolidated movement, a clear break of 0.6733 will lead to the development of the downward structure, in this case the potential target – 0.6675.

the Main tendency is rising structure from August 7, the stage of correction.

Trading recommendations:

Buy: 0.6805 Take profit: 0.6840

Buy: 0.6844 Take profit: 0.6867

Sell: Take profit:

Sell: 0.6730 Take profit: 0.6680

On the Euro/Yen key levels in H1 scale are: 119.40, 118.65, 118.22, 117.58, 117.16 and 116.54. Here we follow the development of local capacity for the bottom from August 13. A short-term downward motion is expected in the range 117.58 – 117.16, breakout of the last reading will allow you to rely on movement to the potential target – 116.54, near this level consolidation.

a Short-term upward motion is expected in the corridor 118.22 – 118.65, breakout of the last reading will have to the formation of the rising structure to the top, the first target here – 119.40.

the Main trend is the formation of the 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

a pair Pound/Yen key levels in H1 scale are: 132.17, 131.23, 130.57, 129.66, 127.94, 127.33, 126.48 and 125.57. Here we follow the development of the upward structure from August 12. Short-term upward movement is expected in the range of 129.00 – 129.66, breakout of the last reading will lead to significant upward motion, here the target – 130.57 in the hallway 130.57 – 131.23 short-term upward movement, and consolidation. Potential value for the top believe the level of 132.17 at which consolidation is expected, and roll back down.

a Short-term downward movement is possible in the corridor 127.94 – 127.33, breakout of the last reading will have to develop downward structure, the first target here – 126.48. As the potential significance considering the level 125.57.

the Main trend – capacity building for the high from 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

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