FX.co ★ Fractal analysis for major currency pairs as of August 30

Dear colleagues.

For the EUR / USD pair, the price is still in the correction area from the upward structure on August 17. For the GBP / USD pair, the price still forms the initial conditions for the top of August 24. For the USD / CHF pair, the potential for the top of August 29 in the correction stage has formed. For the USD / JPY pair is formed by the upward structure of August 29. For the EUR / JPY pair, the price is still in correction from the upward structure. We expect the continuation of the upward movement after the breakdown of 131.86. For the GBP / JPY pair, the continuation of the upward movement is expected after the breakdown of 142.20. Movement downward is considered as a correction.

Forecast for August 30:

Analytical review of currency pairs in the scale of H1:

For the EUR / USD pair, the key levels on the scale of H1 are: 1.2132, 1.2106, 1.2064, 1.2034, 1.1940, 1.1913, 1.1882 and 1.1860. Here, we continue to follow the upward structure of August 17. At the moment, the price is in the correction area. Short-term upward movement is possible in the range of 1.2034 - 1.2064. The breakdown of the last value should be accompanied by a pronounced upward movement. Here, the target is 1.2106. The potential value for the top is the level of 1.2132, after which we expect consolidation, as well as a possible pullback downwards.

Short-term downward movement is possible in the area of 1.1940 - 1.1913. The breakdown of the last value will lead to in-depth movement. Here, the target is 1.1882. The range of 1.1882 - 1.1860 is the key support for the top.

The main trend is the upward cycle from August 17, the correction stage.

Trading recommendations:

Buy: 1.2034 Take profit: 1.2062

Buy: 1.2066 Take profit: 1.2104

Sell: 1.1940 Take profit: 1.1915

Sell: 1.1911 Take profit: 1.1882

For the GBP / USD pair, key levels on the scale of H1 are: 1.3059, 1.2996, 1.2974, 1.2944, 1.2874, 1.2854 and 1.2830. Here, we monitor the formation of the initial conditions for the upward cycle of August 24. Continued upward movement is expected after the breakdown of 1.2944. Here, the target is 1.2974. We expect a short-term upward movement in the area of 1.2974 - 1.2996. The potential value for the top is the level of 1.3059. Movement towards it is expected after the breakdown of 1.2998.

Short-term downward movement is possible in the area of 1.2874 - 1.2854. The breakdown of the last value will lead to in-depth correction. Here, the target is 1.2830. This level is the key support for the top.

The main trend is the formation of initial conditions for the top of August 24.

Trading recommendations:

Buy: 1.2946 Take profit: 1.2974

Buy: 1.2946 Take profit: 1.2974

Sell: 1.2872 Take profit: 1.2856

Sell: 1.2851 Take profit: 1.2833

For the USD / CHF pair, the key levels on the scale of H1 are: 0.9695, 0.9658, 0.9610, 0.9572, 0.9528, 0.9508, 0.9478 and 0.9429. Here, we continue to follow the downward cycle from August 16. Currently, the price forms the potential for the top of August 29. The continuation of the development of the upward structure is possible after the breakdown of 0.9572. Here, the target is 0.9610. In this level we expect the formation of a pronounced structure of the initial conditions of the upward cycle. The breakdown at the level of 0.9610 should be accompanied by a pronounced move to the level of 0.9658. The potential value for the top is the level of 0.9695.

Short-term downward movement is possible in the area of 0.9528 - 0.9508. The breakdown of the last value will lead to in-depth correction. Here, the target is 0.9478. This level is the key support for the upward structure.

The main trend is the downward cycle from August 16, the correction stage.

Trading recommendations:

Buy: 0.9572 Take profit: 0.9610

Buy: 0.9615 Take profit: 0.9655

Sell: 0.9528 Take profit: 0.9510

Sell: 0.9506 Take profit: 0.9480

For the USD / JPY, the key levels on a scale are: 111.58, 111.13, 110.88, 110.31, 110.03, 109.48, 109.18, 108.86 and 108.24. Here, we follow the formation of the upward structure of August 29. Short-term upward movement is expected in the area of 110.03 - 110.31. The breakdown of the last value should be accompanied by a pronounced upward movement. Here, the target is 110.88, upon reaching this level we expect consolidation in the area of 110.88 - 111.13. Potential value for the top is the level of 111.58, upon reaching which we expect a pullback downwards.

Short-term downward movement is possible in the area of 109.48 - 109.18. The breakdown of the last value will lead to in-depth correction. Here, the target is 108.88. This level is the key support for the downward structure from August 16.

The main trend: the formation of the upward structure of August 29.

Trading recommendations:

Buy: 110.31 Take profit: 110.88

Buy: 111.15 Take profit: 111.55

Sell: 109.45 Take profit: 109.20

Sell: 109.15 Take profit: 108.88

For the CAD / USD pair, the key levels on the H1 scale are: 1.2637, 1.2576, 1.2542, 1.2471, 1.2441 and 1.2392. Here, we continue to follow the downward cycle from August 15. Currently, the price is in the correction area. Short-term downward movement is expected 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 from August 15, the correction stage.

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 H1 scale are: 0.8097, 0.8056, 0.8004 0.7940, 0.7893, 0.7856 and 0.7802. Here, we continue to follow the upward structure of August 15. Continued upward movement is expected after the breakdown of 0.8006. In this case, we expect movement towards the level of 0.8056. The potential value for the top is the level of 0.8097, from which we expect a pullback downwards.

We expect the correction to go down after the breakdown of 0.7940. Here, the target is 0.7893. Short-term downward movement is possible in the range of 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 the development of a downward structure. Here, the first target is 0.7802.

The main trend is the upward structure of August 15.

Trading recommendations:

Buy: 0.8006 Take profit: 0.8055

Buy: 0.8058 Take profit: 0.8095

Sell: 0.7940 Take profit: 0.7895

Sell: 0.7890 Take profit: 0.7858

For the EUR / JPY pair, the key levels on the scale of H1 are: 133.18, 132.64, 131.84, 131.47, 130.82. 130.29 and 129.57. Here, we follow the development of the upward structure of August 18. The continuation of the upward movement is expected after passing the price of the noise range of 131.47 - 131.84. In this case, the target is 132.64. The potential value for the top is the level of 133.18, upon reaching which we expect a pullback downwards.

Short-term downward movement is possible in the area of 130.82 - 130.30. The breakdown of the last value will lead to in-depth correction. Here, the target is 129.60. This level is the key support for the top.

The main trend is the upward structure of August 18.

Trading recommendations:

Buy: 131.86 Take profit: 132.62

Buy: 132.66 Take profit: 133.15

Sell: 130.80 Take profit: 130.30

Sell: 130.25 Take profit: 129.65

For the GBP / JPY pair, the key levels on the scale of H1 are: 143.55, 142.98, 142.19, 141.37, 140.88, 140.09 and 139.31. Here, we follow the upward structure of August 24. Continued upward movement is expected after the breakdown at 142.20. In this case, the target is 142.98. We still consider the level of 143.53 as a potential value for the top, after which we expect consolidation in the area of 142.98 - 143.53.

Short-term downward movement is possible in the area of 141.37 - 140.88. The breakdown of the last value will lead to in-depth correction. Here, the target is 140.10. This level is the key support for the top. Its breakdown will lead to the abolition of the upward structure of the structure from August 24. In this case, the first target is 139.31 .

The main trend is the formation of the upward structure of August 24.

Trading recommendations:

Buy: 142.20 Take profit: 142.95

Buy: 143.00 Take profit: 143.50

Sell: 141.35 Take profit: 140.90

Sell: 140.85 Take profit: 140.30