FX.co ★ Fractal analysis of the main currency pairs on September 5

Dear colleagues.

For the EUR / USD pair, the price is still in the correction zone from the downward structure on August 29. For the GBP / USD pair, we continue to monitor the local structure on August 31. The level of 1.2888 is the key support. For the USD / CHF pair, the key support for the top of August 28 is the level of 0.9508. For the USD / JPY pair, the continuation of the upward movement is expected after the breakdown at 110.30. For the EUR / JPY pair, the price is close to the key support for the top which is the level of 129.57. For the GBP / JPY pair, the resumption of the upward movement is possible after the breakdown of 142.23.

Forecast for September 5:

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 to 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 follow the formation of the local structure for the top of 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 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.

Consolidated 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 the 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: 1.2920 Take profit: 1.2890

Sell: 1.2885 Take profit: 1.2850

For the USD / CHF pair, the key levels on the scale of H1 are: 0.9746, 0.9695, 0.9658, 0.9624, 0.9559, 0.9508 and 0.9429. Here, the continuation of the development of the upward structure of August 29 is expected after the breakdown of 0.9624. In this case, the first target is 0.9658. The breakdown of this level will allow us to count on the move to the level of 0.9695. Near this level is the consolidation of the price. The potential value for the top is the level of 0.9746, upon reaching which we expect a pullback downwards.

In the range of 0.9559 - 0.9508, we expect short-term downward movement, as well as consolidation. From this area, the probability of a reversal in the upward direction is high. The breakdown at the level of 0.9505 will lead to the development of a downward structure. In this case, the target is 0.9429.

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

Trading recommendations:

Buy: 0.9624 Take profit: 0.9656

Buy: 0.9658 Take profit: 0.9693

Sell: 0.9555 Take profit: 0.9510

Sell: 0.9505 Take profit: 0.9435

For the USD / JPY pair, key levels on a scale are: 112.14, 111.58, 111.13, 110.88, 110.29, 109.48, 108.86 and 108.25. Here, we continue to follow the upward structure from August 29. At the current moment, the price is close to the cancellation of this structure, for which a breakdown of the level 108.86 is required. Here, the first target is 108.24. Continued upward movement is expected after the breakdown of the level of 110.30. Here, the first target is 110.88. Passing the price of the noise range of 110.88 - 111.13 will initiate the development of the upward trend in the scale of H1. In this case, the target is 111.58. Near this level is the consolidation of the price. Potential value for the top is the level of 112.14, upon reaching this which we expect a pullback downwards.

The main trend is the upward structure of August 29, the stage of deep correction.

Trading recommendations:

Buy: 110.30 Take profit: 110.88

Buy: 111.15 Take profit: 111.55

Sell: Take profit:

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 the 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 and 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, 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 of 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, 130.94. 130.29, 129.57 and 128.41. Here, we continue to follow the development of the upward structure of August 18. At the moment, the price is in deep correction. Continued movement to the top is expected after the breakdown of 130.94. Here, the first target is 131.47. Passing the price of the noise range of 131.47 - 131.84 will initiate the development of an upward trend in the scale of H1. 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 130.29 - 129.57. Hence, the probability of a turn up is high. The breakdown at level 129.55 will lead to the development of a downward trend. In this case, the first target is 128.41.

The main trend is the upward structure from August 18, the stage of deep correction.

Trading recommendations:

Buy: 131.00 Take profit: 131.45

Buy: 131.86 Take profit: 132.64

Sell: 129.55 Take profit: 128.50

Sell: Take profit:

For the GBP / JPY pair, the key levels on the scale of H1 are: 144.30, 143.53, 142.98, 142.23, 141.22, 140.45, 140.09 and 139.31. Here, the continuation of the upward movement is expected after the breakdown at 142.25. In this case, the target is 143.00. The breakdown of this level will initiate the development of the upward trend at the scale of H1. Here, 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.

At the moment, the price is close to the key support for the upside structure of 141.22. The breakdown of this level will lead to a downward sequence. In this case, the target is 140.45. The range of 140.45 - 140.10 is noise. Before this, we expect the initial conditions to be formalized.

The main trend is the formation of the upward structure from August 24, the stage of deep correction.

Trading recommendations:

Buy: 142.25 Take profit: 142.94

Buy: 143.00 Take profit: 143.50

Sell: 141.15 Take profit: 140.45

Sell: 140.05 Take profit: 139.35