Fractal analysis of the main currency pairs on May 26, 2020

analytics5eccb515a01d3.jpg

Forecast for May 26:

Analytical review of currency pairs on the scale of H1:

For the euro / dollar pair, the key levels on the H1 scale are: 1.1009, 1.0961, 1.0935, 1.0912, 1.0876, 1.0836, 1.0789 and 1.0756. Here, the price registered the expressed potential for the downward movement of May 21. The continuation of the downward movement is expected after the breakdown of the level of 1.0876. In this case, the target is 1.0836. Price consolidation is near this level. The breakdown of the level of 1.0836 will lead to a pronounced movement. Here, the target is 1.0789. For the potential value for the bottom, we consider the level of 1.0756. Upon reaching which, we expect consolidation, as well as an upward pullback.

A short-term upward movement is expected in the range of 1.0912 – 1.0935. The breakdown of the last level will lead to an in-depth correction. Here, the target is 1.0961. This level is a key support for the downward structure.

The main trend is the formation of potential for the bottom of May 21

Trading recommendations:

Buy: 1.0912 Take profit: 1.0933

Buy: 1.0936 Take profit: 1.0960

Sell: 1.0874 Take profit: 1.0840

Sell: 1.0834 Take profit: 1.0790

analytics5eccb52a7704d.jpg

For the pound / dollar pair, the key levels on the H1 scale are: 1.2361, 1.2297, 1.2241, 1.2208, 1.2143, 1.2101 and 1.2069. Here, the price entered an equilibrium state: the upward structure from May 15, as well as the downward structure from May 19. The development of the downward movement is expected after the breakdown of the level of 1.2143. In this case, the first goal is 1.2101. For the potential value for the bottom, we consider the level of 1.2069. Upon reaching which, we expect consolidation, as well as an upward pullback.

A short-term upward movement is possible in the range of 1.2208 – 1.2241. The breakdown of the last level will lead to the formation of an ascending structure. Here, the first potential target is 1.2297. We expect the formation of local initial conditions to this level.

The main trend is the ascending structure of May 15 and the descending structure of May 19

Trading recommendations:

Buy: 1.2208 Take profit: 1.2240

Buy: 1.2244 Take profit: 1.2295

Sell: 1.2140 Take profit: 1.2103

Sell: 1.2100 Take profit: 1.2070

analytics5eccb546bfd39.jpg

For the dollar / franc pair, the key levels on the H1 scale are: 0.9806, 0.9782, 0.9762, 0.9734, 0.9724, 0.9702, 0.9689 and 0.9672. Here, we are following the ascending structure of May 20. The continuation of the upward movement is expected after the price passes the noise range 0.9724 – 0.9734. In this case, the target is 0.9762. Short-term upward movement, as well as consolidation is in the range of 0.9762 – 0.9782. For the potential value for the top, we consider the level of 0.9806. Upon reaching this level, we expect a downward pullback.

A short-term downward movement is possible in the range of 0.9702 – 0.9689. The breakdown of the last level will lead to an in-depth correction. Here, the potential target is 0.9672. This level is a key support for the top.

The main trend is the upward structure of May 20

Trading recommendations:

Buy : 0.9734 Take profit: 0.9760

Buy : 0.9764 Take profit: 0.9780

Sell: 0.9702 Take profit: 0.9690

Sell: 0.9687 Take profit: 0.9674

analytics5eccb55def45d.jpg

For the dollar / yen pair, the key levels on the scale are : 108.43, 108.31, 108.09, 107.91, 107.46, 107.24 and 106.77. Here, we are following the development of the upward structure from May 14. At the moment, the price is in the correction zone and has formed a pronounced potential for the downward movement from May 19. Short-term upward movement is expected in the range of 107.91 – 108.09. The breakdown of the last level should be accompanied by a pronounced upward movement. In this case, the target is 108.31. For the potential value for the top, we consider the level of 108.45. Upon reaching which, we expect consolidation, as well as a downward pullback.

A short-term downward movement is possible in the range of 107.46 – 107.24. The breakdown of the last level will lead to the development of a downward structure from May 19. In this case, the potential target is 106.77.

The main trend: the upward structure of May 14, the correction stage

Trading recommendations:

Buy: 107.91 Take profit: 108.07

Buy : 108.11 Take profit: 108.30

Sell: 107.44 Take profit: 107.25

Sell: 107.20 Take profit: 106.80

analytics5eccb5782af20.jpg

For the Canadian dollar / US dollar pair, the key levels on the H1 scale are: 1.4170, 1.4134, 1.4073, 1.4029, 1.3979, 1.3942, 1.3900 and 1.3863. Here, we are following the ascending structure of May 19. At the moment, the price is in a deep correction. The continuation of the upward movement is expected after the breakdown of the level of 1.3998. Here, the first goal is 1.4029, the breakdown of which, in turn, will allow you to count on moving to 1.4073. Price consolidation is near this level. The breakdown of the level of 1.4073 will lead to the development of a pronounced upward movement. In this case, the target is 1.4134. For the potential value for the top, we consider the level of 1.4170. Upon reaching which, we expect consolidation, as well as a downward pullback.

A short-term downward movement is possible in the range of 1.3942 – 1.3900. There is a high probability of an upward reversal from this range and its breakdown will lead to the cancellation of this upward trend. Here, the first goal is 1.3863.

The main trend is the rising structure of May 19, the stage of deep correction

Trading recommendations:

Buy: 1.3998 Take profit: 1.4027

Buy : 1.4030 Take profit: 1.4070

Sell: 1.3940 Take profit: 1.3905

Sell: 1.3900 Take profit: 1.3865

analytics5eccb595e0cbc.jpg

For the Australian Dollar / US dollar pair, the key levels on the H1 scale are : 0.6705, 0.6666, 0.6608, 0.6561, 0.6514, 0.6488, and 0.6456. Here, we are following the formation of the initial conditions for the upward cycle of May 15. The continuation of the upward movement is expected after the breakdown of the level of 0.6561. In this case, the target is 0.6608. Price consolidation is near this level. The breakdown of the level of 0.6608 will lead to the development of pronounced movement. Here, the goal is 0.6666. For the potential value for the top, we consider the level of 0.6705. Upon reaching which, we expect a downward pullback.

A short-term downward movement is possible in the range of 0.6514 – 0.6488. The breakdown of the latter level will lead to an in-depth correction. Here, the target is 0.6456. This level is a key support for the upward structure.

The main trend is the upward structure of May 15

Trading recommendations:

Buy: 0.6561 Take profit: 0.6606

Buy: 0.6610 Take profit: 0.6666

Sell : 0.6514 Take profit : 0.6490

Sell: 0.6488 Take profit: 0.6456

analytics5eccb5b298de9.jpg

For the euro / yen pair, the key levels on the H1 scale are: 120.27, 119.86, 119.16, 118.57, 117.93, 117.59, 116.96, 116.39, 115.81 and 115.32. Here, we are following the development of the upward structure from May 14. At the moment, the price is in deep correction and has developed the potential for a downward movement from May 21. The continuation of the downward movement is expected after the breakdown of the level of 116.96. In this case, the target is 116.61. Price consolidation is near this level. The price passing the noise range of 116.61 – 116.39 will lead to a pronounced downward movement. Here, the target is 115.81. For the potential value for the bottom, we consider the level of 115.32, Upon reaching which, we expect an upward pullback.

A short-term upward movement is possible in the range of 117.59 – 117.93. The breakdown of the last level will have a further development of the upward trend. Here, the first goal is 118.57. We expect the formation of a local structure to this level, and it is also a key resistance for the subsequent development of the upward trend.

The main trend is the upward structure of May 14, the correction stage

Trading recommendations:

Buy: 117.96 Take profit: 118.55

Buy: 118.60 Take profit: 119.12

Sell: 116.94 Take profit: 116.61

Sell: 116.37 Take profit: 115.81

analytics5eccb5cee211b.jpg

For the pound / yen pair, the key levels on the H1 scale are : 134.28, 133.86, 133.16, 132.62, 132.13, 131.49, 130.98 and 130.40. Here, we are following the development of the ascending structure of May 15. At the moment, the price is in the correction zone. The continuation of the upward movement is expected after the breakdown of the level of 132.13. In this case, the first goal is 132.62. The breakdown of which, in turn, will allow us to count on moving to 133.16. The price consolidation is near this level. The breakdown of the level of 133.16 should be accompanied by a pronounced upward movement. Here, the goal is 133.86. For the potential value for the top, we consider the level of 134.28. Upon reaching which, we expect a downward pullback.

A short-term downward movement is possible in the range of 130.98 – 130.40. The breakdown of the last level will have the downward trend. Here, the potential target is 129.24.

The main trend is the upward structure of May 15, the stage of deep correction

Trading recommendations:

Buy: 132.13 Take profit: 132.60

Buy: 132.64 Take profit: 131.12

Sell: 130.96 Take profit: 130.44

Sell: 130.30 Take profit: 129.30

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

Source:: Fractal analysis of the main currency pairs on May 26

Won't your trader friends like this?
InstaForex
About the Author
InstaForex brand was created in 2007 and at the moment it’s a top choice of more than 2,000,000 traders. More than 1,000 clients open accounts with InstaForex every day. All InstaForex clients get great opportunities for effective trading on the forex market, as well as on-time technical and customer support

Related Posts

Leave a Reply

*