FX.co ★ Fractal analysis for major currency pairs as of August 25

Dear colleagues.

For the EUR / USD pair, we continue to monitor the upward structure of August 17. For the GBP / USD pair, we expect a movement towards the correction area, that is, a move upward. The USD / CHF pair is likely to resume the downward movement. For the USD / JPY pair, the price is still in the correction area from the downward structure of August 16. For the EUR / JPY pair, the price is close to the cancellation of the downward structure from August 16, for which a breakdown at the level of 129.60 is necessary. For the GBP / JPY pair on August 24, the potential for the top is formed.

Forecast for August 25:

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, we continue to follow the upward structure of August 17 for the time being. 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.

Short-term downward movement is possible in the range of 1.1770-1.1732. The breakdown of the latter value will lead to the development of a downward structure. In this case, the first potential target is 1.1679.

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: 1.1770 Take profit: 1.1738

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, we follow the downward structure of August 21. Short-term downward movement, as well as consolidation, 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: 1.2768 Take profit: 1.2730

Sell: 1.2726 Take profit: 1.2703

For the USD / CHF pair, the key levels in 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 area of the initial conditions for the downward movement of August 16. The development of the downward structure is expected after passing the price of the noise range of 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 reaching which we expect consolidation, as well as a rollback to the top.

Short-term upward movement is possible in the range of of 0.9662 - 0.9697. The the breakdown of the last value will lead to an upward structure. In this case, the target is 0.9758.

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

Trading recommendations:

Buy: 0.9700 Take profit: 0.9755

Buy: 0.9662 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, the price is in a correction from the downward structure on 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, the correction stage.

Trading recommendations:

Buy: 109.87 Take profit: 110.15

Buy: 110.20 Take profit: 110.94

Sell: 109.10 Take profit: 108.70

Sell: 108.65 Take profit: 108.36

For the CAD / USD pair, the key levels in the H1 scale are: 1.2637, 1.2576, 1.2542, 1.2471, 1.2441 and 1.2392. Here, we expect the movement to the level of 1.2471, upon reaching which we expect consolidation in the area of 1.2471 - 1.2441. The potential value for the bottom is the level of 1.2392, from which we expect a rollback to the top.

Short-term upward movement is possible in the area of 1.2542 - 1.2576. The breakdown of the last value will lead to in-depth movement. Here, the target is 1.2637.

The main trend is the downward structure of August 15.

Trading recommendations:

Buy: 1.2542 Take profit: 1.2574

Buy: 1.2578 Take profit: 1.2635

Sell: 1.2470 Take profit: 1.2443

Sell: 1.2439 Take profit: 1.2394

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 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 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. 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. The price is currently in the area of the initial conditions and is close to reversing the downward trend. Continued downward movement is still expected after the breakdown of 127.90. In this case, the target is 127.22. Upon reaching this level, 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 departure to correction.

Consolidated movement is possible 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: Take profit:

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: 141.55, 141.25, 140.88, 140.69, 140.13, 139.85, 139.31, 138.97 and 138.48. Here, we monitor the formation of a small potential for the top of August 24. Continued development of the upward structure is expected after passing the price of the noise range of 140.69 - 140.88. In this case, the target is 141.25. The potential value for the upward structure is the level 141.55, from which we expect a pullback downwards.

Short-term downward movement is possible in the area of 140.13 - 139.85. Hence, the probability of a turn up is high. Breaking the level of 139.85 will lead to the development of a downward trend. Here, the first target is 139.31. In the area of 139.31 - 138.97 is a short-term downward movement. The potential value for the bottom is the level of 138.48.

The main trend is the downward cycle from August 15. The formation of the potential for the top of August 24 in the correction.

Trading recommendations:

Buy: 140.90 Take profit: 141.25

Buy: 141.27 Take profit: 141.55

Sell: 140.10 Take profit: 139.85

Sell: 139.80 Take profit: 139.40