FX.co ★ Fractal analysis of the main currency pairs for September 12

Dear colleagues.

For the EUR / USD pair, the price forms the potential for a downward movement from September 8 as a correction of the upward structure. For the GBP / USD pair, the price is still in the correction zone. We expect the continuation of the upward movement after the breakdown of 1.3220. For the USD / CHF pair, the potential for the top of September 8 is formed. For the USD / JPY pair, the price forms an upward structure from September 8. For the EUR / JPY pair, the continuation of the upward movement is expected after the breakdown of 131.16. For the GBP / JPY pair, we follow the upward cycle of September 5.

Forecast for September 12:

Analytical review of currency pairs in the scale of H1:

For the EUR / USD pair, the key levels on the scale of H1 are: 1.2221, 1.2182, 1.2132, 1.2106, 1.2034, 1.1995, 1.1940, 1.1889 and 1.1832. Here, the price forms the potential for a downward movement from September 8 which is in correction. Continued downward movement is expected after the breakdown of 1.1940. In this case, the first target is 1.1890. Near this level is consolidation. The breakdown of 1.1889 will allow us to count on the movement towards a potential target of 1.1832, from which we expect a pullback upward.

Short-term upward movement is expected in the range of 1.1995 - 1.2034. The breakdown of the last value will lead to a pronounced movement to the level of 1.2106. Near this level we expect consolidation in the area of 1.2106 - 1.2132. The potential value for the top is the level of 1.2221, from which we expect a pullback downwards.

The main trend is the upward structure from August 31, the stage of deep correction.

Trading recommendations:

Buy: 1.1995 Take profit: 1.2032

Buy: 1.2037 Take profit: 1.2106

Sell: 1.1940 Take profit: 1.1890

Sell: 1.1886 Take profit: 1.1834

For the GBP / USD pair, the key levels in the scale of H1 are: 1.3282, 1.3259, 1.3218, 1.3151, 1.3121 and 1.3077. Here, continued upward movement is expected after the breakdown of 1.3218. In this case, the target is 1.3282. In the area of 1.3282 - 1.3259 is the consolidation of the price. Hence, we expect a correction.

Short-term downward movement is possible in the area of 1.3151 - 1.3121. The breakdown of the last value will lead to in-depth correction. Here, the target is 1.3077. This level is the key support for the top.

The main trend is the upward structure of August 24.

Trading recommendations:

Buy: 1.3218 Take profit: 1.3280

Buy: Take profit:

Sell: 1.3150 Take profit: 1.3125

Sell: 1.3118 Take profit: 1.3080

For the USD / CHF pair, the key levels on the scale of H1 are: 0.9680, 0.9608, 0.9580, 0.9508, 0.9472, 0.9429, 0.9409 and 0.9363. Here, the price forms the potential for the upward cycle of September 8 which is in the correction. Short-term upward movement is expected in the area of 0.9580 - 0.9608. The breakdown of the last value will allow us to count on the movement towards the potential target of 0.9680, from which we expect a pullback downwards.

Short-term downtrend is expected in the range of 0.9508 - 0.9472. The breakdown of the last value will lead to the development of the downward structure from August 31. In this case, the first target is 0.9429. In the area of 0.9429 - 0.9409 is the consolidation of the price. The potential value for the bottom is the level of 0.9363, from which we expect a rollback to the top.

The main trend is the downward cycle from August 31, the stage of deep correction.

Trading recommendations:

Buy: 0.9580 Take profit: 0.9606

Buy: 0.9610 Take profit: 0.9680

Sell: 0.9508 Take profit: 0.9475

Sell: 0.9470 Take profit: 0.9430

For the USD / JPY pair, key levels on a scale are: 111.27, 110.95, 110.11, 109.70, 109.01, 108.68 and 108.14. Here, we follow the formation of the upward structure of September 8. Short-term upward movement is expected after the breakdown of 109.70. In this case, the target is 110.11. Near this level is consolidation. The breakdown of level 110.11 should be accompanied by a pronounced upward movement towards the potential target of 111.27, from which we expect a movement towards correction.

Short-term downward movement is possible in the range of 109.01 - 108.68. The breakdown of the last value will lead to in-depth correction. Here, the target is 108.14. This level is the key support for the upward structure of September 8.

The main trend is the formation of the upward structure of September 8.

Trading recommendations:

Buy: 109.70 Take profit: 110.10

Buy: 110.20 Take profit: 110.95

Sell: 109.00 Take profit: 108.70

Sell: 108.65 Take profit: 108.20

For the CAD / USD pair, the key levels on the scale of H1 are: 1.2224, 1.2152, 1.2102, 1.2021, 1.1906 and 1.1842. Here, we continue to follow the development of the downward structure of August 31. Continued downward movement is expected after the breakdown of 1.2020. In this case, the target is 1.1906. The potential value for the top is the level of 1.1842, from which we expect the correction to start. In general, we expect the rollback to be higher from the level of 1.2021, with the subsequent formation of initial conditions for the upward cycle.

Consolidated traffic is possible in the area of 1.2102 - 1.2152. The breakdown of the last value will lead to in-depth correction. Here, the target is 1.2224. This level is the key support for the downward structure.

The main trend is the downward cycle from August 31, the correction stage.

Trading recommendations:

Buy: Take profit:

Buy: 1.2155 Take profit: 1.2222

Sell: 1.2020 Take profit: 1.1910

Sell: 1.1904 Take profit: 1.1845

For the AUD / USD pair, the key levels on the scale of H1 are: 0.8160, 0.8129, 0.8092, 0.8045, 0.8007 and 0.7959. Here, we continue to follow the upward cycle of August 31. Continued upward movement is expected after the breakdown of 0.8092. In this case, the target is 0.8129. The potential value for the top is the level of 0.8160, upon reaching which we expect consolidation in the area of 0.8129 - 0.8160, as well as a pullback.

Consolidated traffic is possible in the area of 0.8045 - 0.8007. The breakdown of the last value will lead to in-depth correction. Here, the target is 0.7960. This level is the key support for the top.

The main trend is the upward cycle from August 31, the correction stage.

Trading recommendations:

Buy: 0.8092 Take profit: 0.8129

Buy: Take profit:

Sell: Take profit:

Sell: 0.8004 Take profit: 0.7960

For the EUR / JPY pair, the key levels on the scale of H1 are: 132.08, 131.87, 131.43, 131.16, 130.45, 130.14, 129.75 and 129.32. Here, we continue to follow the initial structure for the top of September 6. Short-term upward movement is expected in the area of 131.16 - 131.43. The breakdown of 131.45, will allow us to count on movement towards the level of 131.87. The potential value for the upward structure is the level of 132.08. Near this level we expect consolidation, as well as a pullback to the bottom.

Short-term downward movement is possible in the area of 130.45 - 130.14. The breakdown of the last value will lead to in-depth correction. Here, the target is 129.75. This level is the key support for the top. Its breakdown will lead a downward structure. In this case, the target is 129.32.

The main trend is the upward structure of September 6.

Trading recommendations:

Buy: 131.16 Take profit: 131.40

Buy: 131.45 Take profit: 131.85

Sell: 130.45 Take profit: 130.20

Sell: 130.10 Take profit: 129.75

For the GBP / JPY pair, the key levels on the scale of H1 are: 145.75, 145.05, 144.74, 144.30, 143.80, 143.42 and 142.75. Here, we follow the upward cycle of September 5. Continued upward movement is expected after the breakdown of 144.30. In this case, the target is 144.74. In the area of 144.74 - 145.05 is the consolidation of the price. The potential value for the top is the level of 145.75, upon reaching which we expect a pullback downwards.

Short-term downward movement is possible in the area of 143.80 - 143.42. The breakdown of the last value will lead to in-depth movement. Here, the target is 142.75. This level is the key support for the top.

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

Trading recommendations:

Buy: 144.30 Take profit: 144.74

Buy: 145.10 Take profit: 145.75

Sell: 143.80 Take profit: 143.45

Sell: 143.40 Take profit: 142.86