Fractal analysis of the main currency pairs on May 28, 2020

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Forecast for May 28:

Analytical review of currency pairs on the scale of H1:

For the euro / dollar pair, the key levels on the H1 scale are: 1.1168, 1.1123, 1.1090, 1.1041, 1.1025, 1.0994, 1.0965 and 1.0933. Here, we are following the ascending structure of May 25th. The continuation of the upward movement is expected after the price passes the noise range 1.1025 – 1.1041. In this case, the target is 1.1090. Short-term downward movement, as well as consolidation is in the range of 1.1090 – 1.1123. For the potential value for the top, we consider the level of 1.1168. Upon reaching which, we expect a downward pullback. A short-term downward movement is expected in the range of 1.0994 – 1.0965, hence, there is a high probability of an upward reversal. The breakdown of the level of 1.0965 will lead to an in-depth correction. In this case, the target is 1.0933. This level is a key support for the ascending structure.

The main trend is the local structure for the top of May 25

Trading recommendations:

Buy: 1.1041 Take profit: 1.1090

Buy: 1.1092 Take profit: 1.1121

Sell: 1.0994 Take profit: 1.0967

Sell: 1.0963 Take profit: 1.0935

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For the pound / dollar pair, the key levels on the H1 scale are: 1.2566, 1.2515, 1.2438. 1.2361, 1.2259, 1.2208 and 1.2160. Here, we are following the ascending structure of May 25. At the moment, the price is in a deep correction. The breakdown of the level of 1.2208 will lead to the abolition of the local initial conditions. Here, the first goal is 1.2160. The continuation of the upward movement is expected after the breakdown of the level of 1.2361. In this case, the target is 1.2438. Price consolidation is near this level. The breakdown of the level of 1.2440 should be accompanied by a pronounced upward movement. Here, the target is 1.2515. For the potential value for the top, we consider the level of 1.2566. Upon reaching which, we expect consolidation, as well as a downward pullback.

The main trend is the upward trend of May 15 and the local structure of May 25

Trading recommendations:

Buy: 1.2361 Take profit: 1.2436

Buy: 1.2440 Take profit: 1.2515

Sell: 1.2257 Take profit: 1.2210

Sell: 1.2206 Take profit: 1.2160

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For the dollar / franc pair, the key levels on the H1 scale are: 0.9735, 0.9702, 0.9684, 0.9645, 0.9618, 0.9586 and 0.9564. Here, we are watching the downward structure from May 25. At the moment, the price is in correction. The continuation of the downward movement is expected after the breakdown of the level of 0.9645. In this case, the target is 0.9618. Price consolidation is near this level. The breakdown of the level of 0.9618 will lead to a pronounced movement. Here, the target is 0.9586. For the potential value for the bottom, we consider the level of 0.9564. Upon reaching which, we expect consolidation, as well as an upward pullback.

A short-term upward movement is possible in the range 0.9684 – 0.9702. The breakdown of the last level will favor the development of the upward structure. In this case, the first potential target is 0.9735.

The main trend is the formation of the downward structure of May 25

Trading recommendations:

Buy : 0.9685 Take profit: 0.9700

Buy : 0.9704 Take profit: 0.9728

Sell: 0.9645 Take profit: 0.9622

Sell: 0.9616 Take profit: 0.9588

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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, the situation is in equilibrium. 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.

Main trend: equilibrium

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

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For the Canadian dollar / US dollar pair, the key levels on the H1 scale are: 1.3942, 1.3873, 1.3829, 1.3758, 1.3705 and 1.3627. Here, we are following the development of the medium-term downward cycle of May 14. Short-term downward movement is expected in the range of 1.3758 – 1.3705. The breakdown of the latter value will allow us to expect movement to a potential target – 1.3627. Upon reaching this level, we expect consolidation, as well as a downward pullback.

A short-term upward movement is possible in the range of 1.3829 – 1.3873. The breakdown of the last level will lead to the development of an in-depth correction. Here, the potential goal is 1.3942. We expect the initial conditions for the upward cycle to be formed to this level.

The main trend is the medium-term downward trend of May 14

Trading recommendations:

Buy: 1.3829 Take profit: 1.3870

Buy : 1.3875 Take profit: 1.3940

Sell: 1.3756 Take profit: 1.3709

Sell: 1.3703 Take profit: 1.3637

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For the Australian dollar / US dollar pair, the key levels on the H1 scale are : 0.6792, 0.6760, 0.6705, 0.6666, 0.6614, 0.6585, 0.6552 and 0.6509. Here, we are following the development of the upward cycle of May 15. At the moment, the price is in correction. The continuation of the upward movement is expected after the breakdown of the level of 0.6666. In this case, the target is 0.6705. Price consolidation is near this level. The breakdown of the level of 0.6705 should be accompanied by a pronounced upward movement. Here, the target is 0.6760. For the potential value for the top, we consider the level of 0.6792. Upon reaching which, we expect consolidation, as well as a downward pullback.

Consolidated movement is possible in the range of 0.6614 – 0.6585. The breakdown of the last level will lead to an in-depth correction. Here, the target is 0.6552. This level is a key support for the upward structure and its breakdown will lead to the formation of initial conditions for the downward cycle. In this case, the target is 0.6509.

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

Trading recommendations:

Buy: 0.6666 Take profit: 0.6705

Buy: 0.6707 Take profit: 0.6760

Sell : 0.6614 Take profit : 0.6587

Sell: 0.6583 Take profit: 0.6552

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For the euro / yen pair, the key levels on the H1 scale are: 120.24, 119.97, 119.51, 119.18, 119.00, 118.52, 118.25 and 117.77. Here, we continue to monitor the ascending structure of May 22. The continuation of the upward movement is expected after passing through the noise range of 119.00 – 119.18. In this case, the target is 119.51. Price consolidation is near this level. The breakdown of the level of 119.51 should be accompanied by a pronounced upward movement. Here, the goal is 119.97. For the potential value for the top, we consider the level of 120.24. Upon reaching which, we expect consolidation, as well as a downward pullback.

A short-term downward movement is possible in the range of 118.52 – 118.25, hence, the high probability of an upward reversal. The breakdown of the level of 118.25 will lead to in-depth correction. Here, the goal is 117.77. This level is a key support for the top.

The main trend is the local ascending structure of May 22

Trading recommendations:

Buy: 119.18 Take profit: 119.50

Buy: 119.53 Take profit: 119.95

Sell: 118.52 Take profit: 118.27

Sell: 118.23 Take profit: 117.85

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For the pound / yen pair, the key levels on the H1 scale are : 135.26, 134.28, 133.86, 133.16, 132.13, 131.65 and 130.98. Here, we are following the development of the ascending structure of May 15. The continuation of the upward movement is expected after the breakdown of the level of 133.16. In this case, the target is 133.86. Price consolidation is in the range of 133.86 – 134.28. For the potential value for the top, we consider the level of 135.26. Upon reaching which, we expect consolidation, as well as a downward pullback.

A short-term downward movement is possible in the range of 132.13 – 131.65. The breakdown of the last level will lead to an in-depth correction. Here, the potential target is 130.98.

The main trend is the upward structure of May 15

Trading recommendations:

Buy: 133.16 Take profit: 133.86

Buy: 134.30 Take profit: 135.25

Sell: 132.13 Take profit: 131.66

Sell: 131.63 Take profit: 131.00

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

Source:: Fractal analysis of the main currency pairs on May 28

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