FX.co ★ Fractal analysis of the main currency pairs on September 7

Dear colleagues.

For the EUR / USD pair, the ending of the situation on the scale of H1 is expected today or tomorrow, these are the deadlines. For the GBP / USD pair, the probability of movement in the correction from the upward structure is high. For the USD / CHF pair, the resumption of the upward movement is expected after the breakdown of 0.9624. For the USD / JPY pair, the price forms a potential for the upward movement of September 6. For the EUR / JPY pair, the potential for an upward trend is forming on September 6. For the GBP / JPY pair, we follow the formation of the local upward structure of September 5.

Forecast for September 7:

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, the price is still in correction from the downward structure on August 29. We expect the outcome of this situation on Thursday or Friday. 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, key levels on the scale of H1 are: 1.3139, 1.3098, 1.3076, 1.3045, 1.3017, 1.3000 and 1.2977. Here, we continue to follow the upward cycle of August 31. Continued upward movement is expected after the breakdown of 1.3045. In this case, the target is 1.3076. In the area of 1.3076 - 1.3098 is the consolidation of the price. The potential value for the upward structure is the level of 1.3139, upon reaching which we expect a pullback downwards.

Consolidated traffic is possible in the area of 1.3017 - 1.3000. The breakdown of the last value will lead to in-depth correction. Here, the target is 1.2977. This level is the key support for the top.

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

Trading recommendations:

Buy: 1.3045 Take profit: 1.3076

Buy: 1.3100 Take profit: 1.3136

Sell: 1.3017 Take profit: 1.3003

Sell: 1.2998 Take profit: 1.2978

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, the key levels on the scale are: 109.87, 109.39, 108.99, 108.36, 107.87 and 107.09. Here, the price forms the potential for the top in correction from the downward structure. Continued downward movement is still expected after the breakdown of 108.36. Here, the target is 107.87. Near this level is the consolidation of the price and hence, the probability of a turn up is high. The potential value for the bottom is the level of 107.09, movement towards which is expected after the breakdown of 107.84.

Short-term upward movement, as well as consolidation, are possible in the range of 108.99 - 109.39. The breakdown of the last value will lead to in-depth correction. Here, the target is 109.87. Before this, we expect the formation of a pronounced structure for the upward cycle.

The main trend is the downward structure of August 31, the correction stage.

Trading recommendations:

Buy: Take profit:

Buy: 109.42 Take profit: 109.85

Sell: 108.34 Take profit: 107.90

Sell: 107.84 Take profit: 107.12

For the CAD / USD pair, the key levels in the H1 scale are: 1.2441, 1.2354, 1.2286, 1.2152, 1.2102 and 1.2008. Here, we continue to monitor the formation of the downward structure of August 31. Short-term downward movement is possible in the area of 1.2152 - 1.2102. The breakdown of the last value will lead to a movement to the potential target of 1.2008. From this level, we expect a rollback to the top.

Short-term upward movement is possible in the area of 1.2286 - 1.2354. The breakdown of the last value will lead to in-depth correction. Here, the target is 1.2441. This level is the key support for the downward structure.

The main trend is the downward cycle from August 31.

Trading recommendations:

Buy: 1.2286 Take profit: 1.2352

Buy: 1.2356 Take profit: 1.2440

Sell: 1.2100 Take profit: 1.2010

Sell: Take profit:

For the AUD / USD pair, the key levels on the scale of H1 are: 0.8077, 0.8045, 0.8021, 0.7972, 0.7949, 0.7933, 0.7912 and 0.7871. Here, we are still following the development of the upward structure of August 31. Nevertheless, there is a high probability of a downward movement. Short-term upward movement is expected in the area of 0.8021 - 0.8045. We consider the 0.8077 level as the potential value for the upward structure, after which we expect a pullback downwards.

Correction is possible after the breakdown of 0.7970. Here, the first target is 0.7949. Short-term downward movement is expected in the range of 0.7949-0.7933. The breakdown of the last value will lead to an 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 upward cycle of August 31.

Trading recommendations:

Buy: 0.8021 Take profit: 0.8044

Buy: 0.8046 Take profit: 0.8075

Sell: 0.7970 Take profit: 0.7950

Sell: 0.7931 Take profit: 0.7912

For the of EUR / JPY pair, the key levels on the scale of H1 are: 131.43, 131.16, 130.77, 130.45, 129.94, 129.68, 129.29, 129.08, 128.63 and 128.28. Here, the price forms the potential for the top of September 6 in correction from the downward structure. Continued upward movement is expected after the breakdown of 130.45. In this case, the target is 130.77. Near this level is consolidation. The breakdown of 130.80 will allow us to count on movement towards the level of 131.16. Potential value for the upside structure is the level of 131.43, near which we expect consolidation.

Short-term downward movement is possible in the area of 129.94 - 129.68, breakdown of the latter value will lead to the development of a downward trend. Here, the first target is 129.29. In the area of 129.29 - 129.08 consolidation. Breaking the level of 129.05 should be accompanied by a pronounced movement to the level of 128.63. The potential value for the bottom is the level of 128.28.

The main trend is the downward structure from August 30, the correction stage.

Trading recommendations:

Buy: 130.45 Take profit: 130.75

Buy: 130.82 Take profit: 131.15

Sell: 129.92 Take profit: 129.70

Sell: 129.64 Take profit: 129.35

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 price forms a local structure for the top of September 5. At the moment, we expect the move to the level of 142.98. The breakdown of this level will initiate the development of the upward trend in 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 upward structure, from which we expect a pullback downwards.

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

The main trend is the local upward structure of September 5.

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