FX.co ★ Fractal analysis for major currency pairs as of September 14

Dear colleagues.

For the EUR / USD pair, the continuation of the movement downwards is expected after the breakdown of 1.1864. For the GBP / USD pair, the price went into correction from the upward trend in the scale of H1. For the USD / CHF pair, continuation of the movement downwards is expected after the breakdown of 0.9687. For the USD / JPY pair, we follow the development of the upward structure of September 8. For the EUR / JPY pair, the price is still in the correction zone with the level of 130.78 as the key support for the top. For the GBP / JPY pair, we still expect the development towards a corrective direction.

The forecast for September 14:

Analytical review of currency pairs in the scale of H1:

For the EUR / USD pair, the key levels on the scale of H1 are: 1.1990, 1.1942, 1.1918, 1.1864, 1.1801, 1.1757 and 1.1697. Here, we continue to follow the development of the downward structure from September 8. The continuation of the downward movement is expected after the breakdown of 1.1864. In this case, the target is 1.1801. In the 1.1801-1.1757 range, we expect a short-term downward movement. Hence, the probability of leaving the correction zone is high. The potential value for the bottom is the level of 1.1697, upon reaching which we expect a rollback upward.

Short-term upward movement is expected in the range of 1.1918 - 1.1942. The breakdown of the last value will lead to in-depth correction. Here, the target is 1.1990.

The main trend is the downward structure of September 8.

Trading recommendations:

Buy: 1.1919 Take profit: 1.1940

Buy: 1.1944 Take profit: 1.1990

Sell: 1.1862 Take profit: 1.1805

Sell: 1.1800 Take profit: 1.1760

For the GBP / USD pair, the key levels on the scale of H1 are: 1.3420, 1.3387, 1.3333, 1.3259, 1.3225, 1.3173, 1.3131, 1.3075 and 1.3033. Here, the price is in the correction zone from the upward trend and forms the potential for the bottom. Short-term upward movement is expected in the range of 1.3225 -1.3260. The breakdown of the last value will lead to a movement towards the level of 1.3333. In turn, the breakdown at 1.3333 level will allow us to count on the movement towards 1.3387. The potential value for the upward trend is the level of 1.3420, after which we expect consolidation and a pullback downwards.

Short-term downward movement is possible in the area of 1.3173 - 1.3131. The breakdown of the latter value will lead to the development of a downward structure. Here, the target is 1.3075. In the area of 1.3075 - 1.3033 is the consolidation of the price.

The main trend is the correction stage.

Trading recommendations:

Buy: 1.3225 Take profit: 1.3260

Buy: 1.3264 Take profit: 1.3333

Sell: 1.3173 Take profit: 1.3134

Sell: 1.3128 Take profit: 1.3075

For the USD / CHF pair, the key levels on the scale of H1 are: 0.9810, 0.9779, 0.9725, 0.9687, 0.9625, 0.9599, 0.9564, 0.9539 and 0.9501. Here, we follow the upward structure of September 8. At the moment, we expect the move to the level of 0.9687. In the area of 0.9687 - 0.9725 is a short-term upward movement. The breakdown at the level of 0.9725 should be accompanied by a pronounced upward movement to the level of 0.9779. The potential value for the top is the level of 0.9810, from which we expect a pullback downwards.

Short-term downward movement is expected in the range of 0.9625 - 0.9599. The breakdown of the last value will lead to in-depth correction. Here, the target is 0.9564. The range of 0.5964 - 0.9539 is the key support for the top.

The main trend is the upward structure of September 8.

Trading recommendations:

Buy: 0.9688 Take profit: 0.9725

Buy: 0.9728 Take profit: 0.9776

Sell: 0.9625 Take profit: 0.9600

Sell: 0.9596 Take profit: 0.9566

For the USD / JPY pair, the key levels on a scale are: 112.79, 111.92, 111.27, 110.26, 109.92, 109.41, 109.01 and 108.42. Here, we follow the upward structure of September 8. At the moment, we expect the move to the level of 111.27. In the area of 111.27 - 111.92, we expect a short-term move upward. At the level of 111.92, a breakdown will allow us to count on a movement towards a potential target of 112.79, from which we expect a pullback downwards.

Short-term downward movement is possible in the range of 110.26 - 109.92. The breakdown of the last value will lead to in-depth correction. Here, the target is 109.41. The range of 109.41 - 109.01 is the key support for the upward structure of September 8.

The main trend is the upward structure of September 8.

Trading recommendations:

Buy: 111.28 Take profit: 111.90

Buy: 111.94 Take profit: 112.75

Sell: 110.26 Take profit: 109.92

Sell: 109.90 Take profit: 109.43

For the CAD / USD pair, the key levels on the H1 scale are: 1.2224, 1.2159, 1.2074, 1.2021, 1.1906 and 1.1842. Here, we continue to follow the development of the downward structure from August 31. At the moment the price is in correction. Short-term downward movement is possible in the area of 1.2074 - 1.2021. Continued development of the downward cycle 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 it to most likely to roll back 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 1.2159 - 1.2224. The breakdown of the last value will lead to the formation of the initial conditions for the upward cycle. Here, the potential target is 1.2354.

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

Trading recommendations:

Buy: 1.2160 Take profit: 1.2222

Buy: 1.2228 Take profit: 1.2350

Sell: 1.2074 Take profit: 1.2024

Sell: 1.2020 Take profit: 1.1910

For the AUD / USD pair, key levels on the scale of H1 are: 0.8092, 0.8045, 0.8019, 0.7950, 0.7899 and 0.7871. Here, we follow the downward structure of September 8. Continued downward movement is expected after the breakdown of 0.7950. In this case, the target is 0.7899. The potential value for the bottom is the level of 0.7871, from which we expect a rollback to the top.

Short-term upward movement is possible in the area of 0.8019 - 0.8045. The breakdown of the last value will lead to the formation of an upward structure. Here, the potential target is 0.8092.

The main trend is the downward structure of September 8.

Trading recommendations:

Buy: 0.8020 Take profit: 0.8044

Buy: 0.8047 Take profit: 0.8090

Sell: 0.7950 Take profit: 0.7900

Sell: 0.7896 Take profit: 0.7874

For the EUR / JPY pair, the key levels on the scale of H1 are: 132.93, 132.53, 132.08, 131.43, 131.16, 130.78 and 130.14. Here, we continue to follow the initial structure for the top of September 6. Continued upward movement is expected after the breakdown of 132.08. In this case, the target is 132.53. The potential value for the upward structure is the level of 132.93, upon reaching which we expect a rollback to correction.

Short-term downward movement is possible in the area of 131.43 - 131.16. The breakdown of the last value will lead to in-depth correction. Here, the target is 130.78. This level is the key support for the top. Its breakdown will lead to the development of a downward structure. In this case, the target is 130.14.

The main trend is the upward structure of September 6.

Trading recommendations:

Buy: 132.10 Take profit: 132.50

Buy: 132.55 Take profit: 132.90

Sell: 131.40 Take profit: 131.18

Sell: 131.14 Take profit: 130.80

For the GBP / JPY pair, the key levels on the scale of H1 are: 147.85, 146.80, 145.75, 145.75 and 144.30. Here, we follow the upward cycle of September 5. At the moment, the price is near the limit values, in connection with what we expect the movement to correction. Breaking the level of 146.80 may be accompanied by an unstable upward movement. Here, the potential target is 147.85.

Movement in the correction is expected after the breakdown of 145.75. Here, the first target is 145.05. Near this level is the consolidation of the price. The potential value for the bottom is still the level of 144.30, from which the initial conditions for the downward cycle are possible.

The main trend is the upward cycle of September 5.

Trading recommendations:

Buy: Take profit:

Buy: 146.80 Take profit: 147.30

Sell: 145.75 Take profit: 145.15

Sell: 145.00 Take profit: 144.3