Dear colleagues.
For the EUR / USD pair and for the USD / CHF pair, the price is near the key support level for the main structure of August 17. A breakdown in this level by one of the currencies will lead to the cancellation of this trend. For the GBP / USD pair, we observe a small local structure for the downward movement of August 21. For the USD / JPY pair, the continuation of the downward movement is expected after the breakdown of 109.10. For the EUR / JPY pair, we follow the formation of the downward structure from August 16 where we expect the development of this structure to continue after the breakdown of 127.90. For the GBP / JPY pair, the price is still in the correction area. The continuation of the downward movement is possible after the breakdown of 139.90.
Forecast for August 23:
Analytical review of currency pairs in the scale of H1:
For the EUR / USD pair, the key levels on the scale of H1 are: 1.1937, 1.1882, 1.1836, 1.1770, 1.1732 and 1.1679. Here, the price is in the field of the initial conditions of August 17 and is close to its cancellation. The breakdown of the level of 1.1730 is required. In this case, the first target is 1.1679. The continuation of the upward movement is expected after the breakdown of 1.1836. In this case, the target is 1.1882. Near this level is the consolidation of the price. The potential value for the top is still 1.1937, after which we expect a rollback to correction.
The main trend is the formation of the upward structure of August 17.
Trading recommendations:
Buy: 1.1836 Take profit: 1.1880
Buy: 1.1884 Take profit: 1.1935
Sell: 1.1730 Take profit: 1.1680
Sell: Take profit:
For the GBP / USD pair, the key levels in the scale of H1 are: 1.2917, 1.2874, 1.2851, 1.2802, 1.2770, 1.2728 and 1.2700. Here, the price has issued a local structure for the downward movement of August 21. Short-term downward movement is expected in the area of 1.2802 - 1.2770. The breakdown of the last value will lead to a pronounced movement to the level of 1.2728. The potential value for the bottom is the level of 1.2700, upon reaching which we expect consolidation.
Short-term upward movement is possible in the range of 1.2851 - 1.2874. The breakdown of the last value will lead to a buildup of potential for the top. Here, the target is 1.2917.
The main trend is the local downward structure of August 21.
Trading recommendations:
Buy: 1.2851 Take profit: 1.2872
Buy: 1.2876 Take profit: 1.2915
Sell: 1.2800 Take profit: 1.2772
Sell: 1.2768 Take profit: 1.2730
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 is in the initial conditions for the downward movement of August 16 and is currently close to the cancellation of this structure. This requires a breakdown at the level of 0.9697. Here, the potential target is 0.9758. At this level, we expect a capacity for the top. The development of the downward structure is expected after passing the price of the noise range of 0.9603 - 0.9579. In this case, the target is 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.
The main trend is the formation of a downward structure from August 16.
Trading recommendations:
Buy: 0.9700 Take profit: 0.9755
Buy: Take profit:
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 downward movement is expected after the breakdown of 109.12. 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: 109.10 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, 1.2658, 1.2618, 1.2540, 1.2471, 1.2441 and 1.2392. Here, we follow the formation of a downward structure from August 15. Continued downward movement is expected after the breakdown of 1.2540. In this case, the target is 1.2471. In the area of 1.2441 - 1.2471 is the consolidation of the price. The potential value for the bottom is the level of 1.2392, upon reaching which we expect the departure to correction.
Short-term upward movement is possible in the area of 1.2618 - 1.2658. The breakdown of the last value will lead to in-depth movement. Here, the target is 1.2717.
The main trend is the downward structure of August 15.
Trading recommendations:
Buy: 1.2618 Take profit: 1.2655
Buy: 1.2660 Take profit: 1.2715
Sell: 1.2540 Take profit: 1.2471
Sell: 1.2440 Take profit: 1.2395
For the AUD / USD pair, the key levels on the H1 scale are: 0.8097, 0.8056, 0.8004 0.7960, 0.7893, 0.7856 and 0.7802. Here, we continue to 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. In this range is the consolidation of the price. Breaking this level of 0.8006 will allow us to count on the movement to the level of 0.8056. The potential value for the top is the level of 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. The breakdown of the level of 0.7856 will lead to 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, the key levels on the scale of H1 are: 129.60, 128.93, 127.90, 127.22, 126.75 and 126.10. Here, we follow the formation of a downward structure from August 16. Currently, the price is in the area of the initial conditions. If there is a continuation of the movement to the bottom, we expect it to happen after the breakdown of 127.90. In this case, the target is 127.22, upon reaching which we expect consolidation in the range of 127.22 - 126.75. For the potential value for the bottom, consider the level of 126.10. If this level is reached, we expect a movement towards correction.
The short-term upward movement is perhaps in the area of 128.93 - 129.60. The latter is the key support for the downward structure from August 16. Its breakdown will lead to the formation of an upward structure. Here, the potential target is 130.26.
The main trend is the formation of a downward structure from August 16.
Trading recommendations:
Buy: 129.65 Take profit: 130.22
Buy: 128.95 Take profit: 129.55
Sell: 127.90 Take profit: 127.30
Sell: 127.20 Take profit: 126.80
For the GBP / JPY pair, the key levels on the scale of H1 are: 141.94, 141.47, 141.12, 140.22, 139.92 and 139.31. Here, we follow the development of the downward cycle from August 15. The current price is in the correction area. Continued downward movement is expected passing the price of the noise range of 140.22 - 139.92. In this case, the target is 139.31. If this level is reached, we expect a rollback to correction.
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, the correction stage.
Trading recommendations:
Buy: 141.12 Take profit: 141.45
Buy: 141.55 Take profit: 141.94
Sell: 140.22 Take profit: 139.94
Sell: 139.88 Take profit: 139.40