Fractal analysis for major currency pairs as of August 13

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Dear colleagues.

For the of EUR / USD pair, the continuation of the movement down is expected after passing the price of the noise range of 1.1360 – 1.1335. For the GBP / USD pair. the continuation of the movement downwards is expected after the breakdown of 1.2727. We consider the upward movement as a correction. For the USD / CHF pair, we follow the formation of the upward structure of August 9. The level of 0.9915 is the key support. For the USD / JPY pair, we expect to move to the level of 110.31. For the EUR / JPY pair, we expect the correction from the downward cycle on August 1. For the GBP / JPY pair, we also expect a movement upward from the downward structure on August 1.

Forecast for August 13:

Analytical review of currency pairs in the scale of H1

For the EUR / USD pair, the key levels on the scale of H1 are: 1.1539, 1.1471, 1.1433, 1.1403, 1.1360, 1.1335 and 1.1282. Here, we follow the downward structure of August 8. The continuation of the movement downwards is possible after passing the price of the noise range of 1.1360 – 1.1335. In this case, the potential target is 1.1282. From this level, we expect a rollback upward.

Short-term upward movement is possible in the area of 1.1403 – 1.1433. The breakdown of the last value will lead to in-depth correction. Here, the target is 1.1471. This level is the key support for the downward structure. Its breakdown will lead to the development of an upward movement. In this case, the target is 1.1539.

The main trend is the local downward structure of August 8.

Trading recommendations:

Buy: 1.1403 Take profit: 1.1431

Buy 1.1435 Take profit: 1.1470

Sell: 1.1333 Take profit: 1.1284

Sell: Take profit:

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For the GBP / USD pair, the key levels on the H1 scale are 1.2913, 1.2845, 1.2802, 1.2727, 1.2684 and 1.2655. Here, we determined the subsequent goals from the local downward structure of August 7. The continuation of the movement downwards is expected after the breakdown of 1.2727. In this case, the target is 1.2684. In the area of 1.2684 – 1.2655, we expect the consolidation of the price. From this range, we also expect a pullback upward.

Short-term upward movement is possible in the area of 1.2802 – 1.2845. The breakdown of the last value will lead to in-depth correction. Here, the target is 1.2913. This level is the key support for the bottom. Passing the price will lead to the formation of the initial conditions for the top.

The main trend is the local downward structure of August 7.

Trading recommendations:

Buy: 1.2802 Take profit: 1.2843

Buy: 1.2847 Take profit: 1.2910

Sell: 1.2727 Take profit: 1.2685

Sell: Take profit:

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For the USD / CHF pair, the key levels on the scale of H1 are: 1.0030, 1.0001, 0.9991, 0.9972, 0.9956, 0.9927, 0.9915, 0.9897 and 0.9878. Here, we follow the formation of the upward structure of August 9. The continuation of the upward movement is expected after the breakdown of 0.9956. In this case, the target is 0.9972. The breakdown of which, in turn, should be accompanied by a pronounced upward movement towards the level of 0.9991. In the area of 0.9991 – 1.0001 is the consolidation of the price. The potential value for the top is the level of 1.0030. From this level, we expect a pullback downwards.

Short-term downward movement is possible in the area of 0.9927 – 0.9917. The breakdown of the last value will lead to the development of a downward structure. Here, the target is 0.9897. The potential value for the bottom is the level of 0.9878.

The main trend is the formation of the upward structure of August 9.

Trading recommendations:

Buy: 0.9956 Take profit: 0.9970

Buy: 0.9974 Take profit: 0.9990

Sell: 0.9925 Take profit: 0.9915

Sell: 0.9913 Take profit: 0.9898

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For the USD / JPY pair, the key levels on a scale are: 111.55, 111.27, 111.10, 110.69, 110.31, 110.03 and 109.63. Here, we follow the development of the medium-term downward structure of August 1. At the moment, we expect the movement towards the level of 110.31. In the area of 110.31 – 110.03 is short-term downward movement, as well as the consolidation of the price. The potential value for the bottom is the level of 109.63. Upon reaching this level, we expect a rollback upward.

Short-term upward movement is possible in the range of 111.10 – 111.27. The breakdown of the last value will lead to in-depth correction. Here, the target is 111.55. This level is the key support for the downward structure.

The main trend is the downward structure of August 1.

Trading recommendations:

Buy: 111.10 Take profit: 111.25

Buy: 111.30 Take profit: 111.55

Sell: 110.65 Take profit: 110.34

Sell: 110.28 Take profit: 110.05

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For the CAD / USD pair, the key levels on the H1 scale are: 1.3258, 1.3232, 1.3190, 1.3160, 1.3117, 1.3098 and 1.3072. Here, we follow the development of the upward cycle of August 7. Short-term upward movement is possible in the area of 1.3160 – 1.3190. The breakdown of the last value should be accompanied by a pronounced movement towards the level of 1.3232. Near this level is the consolidation of the price. The potential value for the top is the level of 1.3258. Upon reaching this level, we expect a pullback downwards.

Short-term downward movement is possible in the area of 1.3117 – 1.3098. The breakdown of the last value will lead to in-depth correction. Here, the target is 1.3072. This level is the key support for the top.

The main trend is the upward cycle of August 7.

Trading recommendations:

Buy: 1.3160 Take profit: 1.3188

Buy: 1.3192 Take profit: 1.3230

Sell: 1.3117 Take profit: 1.3100

Sell: 1.3096 Take profit: 1.3072

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For the AUD / USD pair, the key H1 scale levels are: 0.7373, 0.7338, 0.7310, 0.7260, 0.7236, 0.7173 and 0.7132. Here, we follow the formation of the downward structure of August 9. The continuation of the downward movement is expected after passing the price of the noise range of 0.7260 – 0.7236. In this case, the target is 0.7173. The potential value for the downward movement is, for the time being, the level of 0.7132. After reaching this level, we expect a pullback to the top.

Short-term upward movement is possible in the area of 0.7310 – 0.7338. The breakdown of the last value will lead to in-depth correction. Here, the target is 0.7373. This level is the key support for the downward structure.

The main trend is the formation of a downward structure from August 9.

Trading recommendations:

Buy: 0.7310 Take profit: 0.7336

Buy: 0.7339 Take profit: 0.7370

Sell: 0.7236 Take profit: 0.7175

Sell: 0.7170Take profit: 0.7134

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For the EUR / JPY pair, the key levels on the scale of H1 are: 128.04, 127.35, 126.69, 126.28, 125.48 and 124.82. Here, mainly, we expect a movement into correction from the downward structure on August 1. A breakdown at the level of 125.48 will lead to a short-term downward movement. In this case, the potential target is 124.82. From this level, there is a high probability of a turn up. The short-term upward movement is possible in the area of 126.28 – 126.69. The breakdown of the last value will lead to in-depth movement. Here, the target is 127.35. This level is the key support for the downward structure from August 1. Passing it will lead to the formation of the initial conditions for the upward cycle. In this case, the target is 128.04.

The main trend is a downward structure from August 1. We expect a correction.

Trading recommendations:

Buy: 126.28 Take profit: 126.67

Buy: 126.71 Take profit: 127.33

Sell: 125.46 Take profit: 124.87

Sell: Take profit:

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For the GBP / JPY pair, the key levels on the H1 scale are: 143.33, 142.81, 141.98, 141.49, 140.52 and 139.78. Here, mainly, we expect a departure towards correction from the downward structure on August 1. Short-term downward movement is possible in the area of 140.52 – 139.78. From the level of 139.78, we expect a key upward turn. The short-term upward movement is possible in the area of 141.49 – 141.98. The breakdown of the last value will lead to in-depth correction. Here, the target is 142.81. The range of 142.81 – 143.33 is the key support for the downward cycle. Before reaching it, we expect the initial conditions for the top to be formalized.

The main trend is the downward trend from August 1. We expect a correction.

Trading recommendations:

Buy: 141.50 Take profit: 141.95

Buy: 142.00 Take profit: 142.80

Sell: 140.50 Take profit: 139.85

Sell: Take profit:

The material has been provided by InstaForex Company – www.instaforex.com

Source:: Fractal analysis for major currency pairs as of August 13

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