Konstantin Boykachev

CEO Proforexea LLC

Honest Coder

Professional Trader

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Konstantin Boykachev

CEO Proforexea LLC

Honest Coder

Professional Trader

Blog Post

Fractal analysis for major currency pairs as of August 15

August 15, 2018 Analytics

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Dear colleagues.

For the EUR / USD pair, we have expanded the potential for the downward movement towards the level of 1.1245. For the GBP / USD pair, we follow the development of the local downward cycle from August 7. For the of USD / CHF pair, we follow the formation of the upward structure of August 9. The development of this level is expected after the breakdown of 0.9972. The level of 0.9915 is the key support. For the USD / JPY pair, we follow the development of the upward cycle from August 13. The continuation of the upward movement is expected after the breakdown of 111.50. For the EUR / JPY pair, the price is in correction and forms the potential for the top of August 13. For the GBP / JPY pair, the price is in correction and forms the potential for the top of August 13.

Forecast for August 15:

Analytical review of currency pairs in the scale of H1:

analytics5b738d3e25972.png

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, 1.1282 and 1.1245. Here, we expanded the potential for the downward movement towards the level of 1.1245. Upon the reaching this level, we expect consolidation in the area of 1.1282 – 1.1245. The continuation of the movement downwards is possible after the passage at the price of the noise range at 1.1360 – 1.1335. In this case, the target is 1.1282.

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: 1.1280 Take profit: 1.1247

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For the GBP / USD pair, the key levels on the scale of H1 are 1.2907, 1.2825, 1.2763, 1.2727, 1.2684, 1.2655, 1.2601 and 1.2561. Here, we continue to follow the local downward cycle from August 7. The continuation of the downward movement is expected after passing the price of the noise range at 1.2684 – 1.2655. In this case, the target is 1.2601. The potential value for the bottom is the level of 1.2561. After reaching this level, we expect consolidation in the area of 1.2601 – 1.2561.

Short-term upward movement is possible in the area of 1.2727-1.2763. The breakdown of the last value will lead to in-depth correction. Here, the target is 1.2825. This level is the key support for the bottom. Passing by the price will lead to the formation of the initial conditions for the top. In this case, the potential target is 1.2907 .

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

Trading recommendations:

Buy: 1.2727 Take profit: 1.2760

Buy: 1.2765 Take profit: 1.2822

Sell: 1.2655 Take profit: 1.2604

Sell: 1.2658 Take profit: 1.2562

analytics5b738d598d5fe.png

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 continue to 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 this level, 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 level 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

analytics5b738d671d817.png

For the USD / JPY pair, the key levels on a scale are: 112.19, 111.99, 111.70, 111.49, 111.20, 111.02 and 110.72. Here, we follow the development of the upward cycle of August 13. Short-term upward movement is expected in the area of 111.49 – 111.70. The breakdown of the last value should be accompanied by a pronounced upward movement. Here, the target is 111.99. The potential value for the top is the level 112.19. Upon reaching this level, we expect consolidation as well as a pullback downwards.

Short-term downward movement is possible in the range of 111.20 – 111.02. The breakdown of the last value will lead to in-depth correction. Here, the target is 110.72. This level is the key support for the top.

The main trend is the upward structure of August 13.

Trading recommendations:

Buy: 111.50 Take profit: 111.68

Buy: 111.72 Take profit: 111.95

Sell: 111.20 Take profit: 111.03

Sell: 111.00 Take profit: 110.74

analytics5b738d7432e9f.png

For the CAD / USD pair, the key levels on the H1 scale are: 1.3121, 1.3095, 1.3077, 1.3047, 1.3030, 1.2995 and 1.2968. Here, we follow the formation of the downward structure of August 13. The continuation of the downward movement is expected after passing the price of the noise range at 1.3047 – 1.3030. In this case, the target is 1.2995. The potential value for the bottom is the level of 1.2968. Upon reaching this level, we expect a rollback to the top.

Short-term upward movement is possible in the area of 1.3077 – 1.3095. The breakdown of the last value will lead to an in-depth correction. Here, the target is 1.3121. This level is the key support for the bottom. Passing by the price will lead to the development of the upward structure. Here, the potential target is 1.3167.

The main trend is the formation of a downward structure from August 13.

Trading recommendations:

Buy: 1.3077 Take profit: 1.3093

Buy: 1.3097 Take profit: 1.3120

Sell: 1.3030 Take profit: 1.2997

Sell: 1.2992 Take profit: 1.2970

analytics5b738d81911cf.png

For the AUD / USD pair, the key levels on the scale of H1 are: 0.7373, 0.7338, 0.7310, 0.7260, 0.7236, 0.7173, 0.7132 and 0.7080. Here, we follow the development of the downward structure of August 9. At the moment, we expect the movement towards 0.7173. In the area of 0.7173 – 0.7132 is short-term downward movement as well as the consolidation of the price. The potential value for the downward movement is, for the time being, the level of 0.7080. 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 downward structure of 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

analytics5b738d8ee51d6.png

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, the price is in correction and forms a small potential for the top of August 13. 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 by 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 the formation of the potential for the top of August 13 in the 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:

analytics5b738d9b83fac.png

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, the price is in correction and forms a small potential for the top of August 13. 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 formation of the potential for the top of August 13 in the 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

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