FX.co ★ Fractal analysis of the main currency pairs on September 4

Dear colleagues.

For the EUR / USD pair, we expect the design of the local structure in the case of the development of the upward movement towards the level of 1.1984. For the GBP / USD pair, the subsequent goals for the top were considered from the local structure on August 31. For the USD / CHF pair, the price is in the correction area from the upside structure on August 29. For the USD / JPY pair, the level of 108.86 is the key support for the upward structure of August 29. For the EUR / JPY pair, the continuation of the upward movement is expected after the breakdown of 131.84. For the GBP / JPY pair, we follow the upward structure of August 24, the development of which is expected after the breakdown of 142.98.

Forecast for September 4:

Analytical review of currency pairs on the scale of H1:

For the EUR / USD pair, the key levels on the scale of H1 are: 1.1984, 1.1940, 1.1917, 1.1858, 1.1826 and 1.1782. Here, we continue to follow the downward cycle from August 29. At the moment, the price is in correction and the design of local initial conditions for the top is possible at the level of 1.1984. The continuation of the movement downwards is expected after the breakdown of 1.1858. In this case, the target is 1.1826. At this level is the consolidation of the price. The potential value for the bottom is the level of 1.1782, upon reaching which we expect a rollback to the top.

Short-term upward movement is possible in the area of 1.1917-1.1940. The breakdown of the last value will lead to a deeper movement. Here, the target is 1.1984. Up until this level, we expect the design of a local potential for the top.

The main trend is the downward structure from August 29, the correction stage.

Trading recommendations:

Buy: 1.1917 Take profit: 1.1938

Buy: 1.1942 Take profit: 1.1980

Sell: 1.1856 Take profit: 1.1828

Sell: 1.1824 Take profit: 1.1784

For the GBP / USD pair, the key levels in the scale of H1 are: 1.3076, 1.3039, 1.3017, 1.2982, 1.2944, 1.2922, 1.2888 and 1.2850. Here, we determined the subsequent goals for the upward movement from the local structure on August 31. Continued upward movement is expected after the breakdown of 1.2982. In this case, the target is 1.3017. In the area of 1.3017 - 1.3039 is the consolidation of the price. We consider the level of 1.3076 to be a potential value for the upstream structure, after which we expect a pullback downwards.

Short-term downward movement is possible in the area of 1.2944 - 1.2922. The breakdown of the last value will lead to in-depth correction. Here, the target is 1.2888. This level is the key support for the top. Its breakdown will lead to the development of a downward structure. Here, the target is 1.2850.

The main trend is the local upward structure of August 31.

Trading recommendations:

Buy: 1.2982 Take profit: 1.3015

Buy: 1.3040 Take profit: 1.3074

Sell: 1.2942 Take profit: 1.2924

Sell: 1.2920 Take profit: 1.2890

For the USD / CHF pair, the key levels on the scale of H1 are: 0.9746, 0.9695, 0.9658, 0.9610, 0.9590, 0.9559 and 0.9508. Here, the continuation of the development of the upward structure from August 29 is expected after the breakdown of 0.9658. In this case, the target is 0.9695. Near this level is consolidation of the price. Potential value for the top is the level of 0.9746, upon reaching which we expect a pullback downwards.

Consolidated traffic is possible in the area of 0.9610 - 0.9590. The breakdown of the last value will lead to in-depth correction. Here, the target is 0.9560. This level is the key support for the upward structure. Its breakdown will lead to the development of a downward structure. Here, the target is 0.9510.

The main trend is the upward cycle from August 29, the correction stage.

Trading recommendations:

Buy: 0.9658 Take profit: 0.9695

Buy: 0.9697 Take profit: 0.9744

Sell: 0.9588 Take profit: 0.9565

Sell: 0.9555 Take profit: 0.9510

For the USD / JPY pair, the key levels on a scale are: 112.14, 111.58, 111.13, 110.88, 110.31, 109.97, 109.48 and 108.86. Here, we continue to follow the upward structure of August 29. At the moment the price is in the area of the initial conditions. Continued upward movement is expected after passing through the noise range of 110.88 - 111.13. In this case, the target is 111.58. Near this level is the area consolidation. Potential value for the top is the level of 112.14. Upon reaching this level, we expect a pullback downwards.

Short-term downward movement, as well as consolidation are possible in the area of 109.97 - 109.48. The breakdown of the last value will lead to in-depth correction. Here, the target is 108.86. This level is the key support for the upward structure of August 29.

The main trend: the upward structure of August 29.

Trading recommendations:

Buy: 111.13 Take profit: 111.56

Buy: 111.60 Take profit: 112.12

Sell: 109.45 Take profit: 108.90

Sell: 108.84 Take profit: 108.26

For the CAD / USD pair, the key levels on the H1 scale are: 1.2559, 1.2497, 1.2441, 1.2364, 1.2286, 1.2228 and 1.2152. Here, we follow the formation of the downward structure of August 31. Continued downward movement is expected after the breakdown of 1.2364. In this case, the target is 1.2286. In the area of 1.2286 - 1.2228 is the consolidation of the price. The potential value for the bottom is the level of 1.2152, upon reaching which we expect movement towards correction.

Short-term upward movement is possible in the area of 1.2441 - 1.2497. The breakdown of the last value will lead to in-depth correction. Here, the target is 1.2555,. This level is the key support for the top. Its breakdown will lead to an upward structure. Here, the target is 1.2666.

The main trend is the formation of the downward structure of August 31.

Trading recommendations:

Buy: 1.2441 Take profit: 1.2495

Buy: 1.2498 Take profit: 1.2555

Sell: 1.2362 Take profit: 1.2288

Sell: 1.2226 Take profit: 1.2155

For the AUD / USD pair, the key levels on the scale of H1 are: 0.8077, 0.8045, 0.8021, 0.7989, 0.7949, 0.7933, 0.7912 and 0.7871. Here, we follow the formation of the upward structure of August 31. The continuation of the upward movement is expected after the breakdown of 0.7990. In this case, the target is 0.8021. In the area of 0.8021 - 0.8045, a short-term upward movement, as well as consolidation, is possible. We consider the 0.8077 level as the potential value for the upstream structure, after which we expect a pullback downwards.

Short-term downward movement is possible in the range 0.7949-0.7933. The breakdown of the last value will lead to in-depth correction. Here, the target is 0.7912. This level is the key support for the upward structure of August 31. Its breakdown will lead to a downward movement. In this case, the target is 0.7871 .

The main trend is the formation of the upward structure of August 31.

Trading recommendations:

Buy: 0.7990 Take profit: 0.8020

Buy: 0.8046 Take profit: 0.8075

Sell: 0.7933 Take profit: 0.7914

Sell: 0.7910 Take profit: 0.7875

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 continue to 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: 144.30, 143.53, 142.98, 142.19, 141.84 and 141.22. Here, the continuation of the upward movement is expected after the breakdown at 143.00. In this case, the target is 143.53. Near this level is the consolidation of the price. We consider the level of 144.30 to be a potential value for the upstream structure, from which we expect a pullback downwards.

Short-term downward movement is possible in the area of 142.19 - 141.84. The breakdown of the last value will lead to in-depth correction. Here, the target is 141.22. This level is the key support for the top.

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

Trading recommendations:

Buy: 142.98 Take profit: 143.50

Buy: 143.56 Take profit: 144.30

Sell: 142.19 Take profit: 141.86

Sell: 141.80 Take profit: 141.30