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 on September 18

September 18, 2018 Analytics

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Dear colleagues.

For the EUR / USD pair, the continuation of the movement upward is expected after the breakdown of 1.1696. We consider the movement downwards as a correction. For the GBP / USD pair, there is a high probability of movement into the correction from the upward structure. For the USD / CHF pair, after the lifting of the upward structure. We follow the development of the downward cycle from September 11. For the USD / JPY pair, we expect the movement towards 112.32. For the EUR / JPY pair, we follow the development of the upward cycle of September 10. For the GBP / JPY pair, the upward structure of September 7 was considered as a large initial condition.

Forecast for September 18:

Analytical review of currency pairs in the scale of H1:

analytics5ba0494d5c215.png

For the EUR / USD pair, the key levels on the scale of H1 are: 1.1783, 1.1761, 1.1728, 1.1704, 1.1657, 1.1640, 1.1613 and 1.1576. Here, the price has issued a local structure for the top of September 17. Short-term upward movement is expected in the area of 1.1704 – 1.1728. The breakdown of the last value should be accompanied by a pronounced upward movement. Here, the target is 1.1761. The potential value for the top is the level of 1.1783, upon reaching which we expect a pullback downwards.

Short-term downward movement is possible in the area of 1.1657 – 1.1640. The breakdown of the last value will lead to the development of a downward movement. Here, the target is 1.1613. As a potential value for the bottom, we are considering level 1.1576.

The main trend is a local structure for the top of September 17.

Trading recommendations:

Buy 1.1704 Take profit: 1.1725

Buy 1.1730 Take profit: 1.1760

Sell: 1.1655 Take profit: 1.1642

Sell: 1.1638 Take profit: 1.1615

analytics5ba0495fdc458.png

For the GBP / USD pair, the key levels on the scale of H1 are 1.3346, 1.3263, 1.3229, 1.3167, 1.3111, 1.3078 and 1.3040. Here, we continue to follow the upward cycle of September 5. The continuation of the upward movement is expected after the breakdown of 1.3167. In this case, the target is 1.3229. In the area of 1.3229 – 1.3263 consolidation of the price. The potential value for the top is the level of 1.3346, upon reaching which we expect a pullback downwards.

Short-term downward movement is possible in the area of 1.3111 – 1.3078. The breakdown of the last value will lead to in-depth correction. Here, the potential target is 1.3040.

The main trend is the upward cycle of September 5.

Trading recommendations:

Buy: 1.3167 Take profit: 1.3229

Buy: 1.3264 Take profit: 1.3344

Sell: 1.3111 Take profit: 1.3080

Sell: 1.3076 Take profit: 1.3040

analytics5ba049700908c.png

For the USD / CHF pair, the key levels on the scale of H1 are: 0.9701, 0.9677, 0.9652, 0.9639, 0.9606, 0.9586, 0.9560 and 0.9543. Here, we determined the subsequent goals for the downward movement from the local downward structure on September 14. Short-term downward movement is possible in the area of 0.9606 – 0.9586. The breakdown of the last value will lead to a pronounced movement. Here, the target is 0.9560. Potential value for the bottom is the level of 0.9543, upon reaching which we expect a rollback upward.

Short-term upward movement is possible in the area of 0.9639 – 0.9652. The breakdown of the last value will lead to in-depth correction. Here, the target is 0.9677. This level is the key support for the downward structure. Passing by the price will lead to form the initial conditions for the upward movement. Here, the target is 0.9701.

The main trend is a local structure for the bottom of September 14.

Trading recommendations:

Buy: 0.9654 Take profit: 0.9674

Buy: 0.9678 Take profit: 0.9700

Sell: 0.9605 Take profit: 0.9587

Sell: 0.9584 Take profit: 0.9562

analytics5ba04998a03ad.png

For the USD / JPY, the key levels on a scale are: 112.86, 112.51, 112.32, 112.02, 111.83, 111.68, 111.42 and 111.06. Here, we continue to follow the upward structure of September 7. The continuation of the upward movement is expected after the breakdown of 112.02. In this case, the target is 112.32. In the area of 112.32 – 112.51 the consolidation of the price. The potential value for the top is the level 112.86, upon reaching which we expect a pullback downwards.

Consolidated traffic is possible in the area of 111.83 – 111.68. The breakdown of the last value will lead to in-depth correction. Here, the target is 111.42. This level is the key support for the top. Its breakdown will lead to form the initial conditions for the upward cycle. In this case, the target is 111.06.

The main trend: the upward structure of September 7.

Trading recommendations:

Buy: 112.04 Take profit: 112.30

Buy: 112.53 Take profit: 112.80

Sell: 111.66 Take profit: 111.44

Sell: 111.38 Take profit: 111.08

analytics5ba049bf4da8e.png

For the CAD / USD pair, the key levels on the H1 scale are: 1.3162, 1.3135, 1.3113. 1.3083, 1.3022, 1.3003, 1.2971 and 1.2931. Here, we follow the formation of the initial conditions for the top of September 13. The continuation of the upward movement is expected after the breakdown of 1.3083. In this case, the target is 1.3113. In the area of 1.3113 – 1.3135 is the consolidation of the price. The potential value for the top is the level of 1.3162, upon reaching which we expect a pullback downwards.

Short-term downward movement is possible in the area of 1.3022 – 1.3003. The breakdown of the last value will lead to the development of the downward structure. In this case, the target is 1.2971. This level is the key resistance for the subsequent development of the downward trend on the scale of H1.

The main trend is the formation of the potential for the top of September 13.

Trading recommendations:

Buy: 1.3083 Take profit: 1.3113

Buy: 1.3135 Take profit: 1.3160

Sell: 1.3003 Take profit: 1.2974

Sell: 1.2969 Take profit: 1.2935

analytics5ba049cebaed9.png

For the AUD / USD pair, the key levels on the scale of H1 are: 0.7362, 0.7320, 0.7287, 0.7241, 0.7171, 0.7139 and 0.7081. Here, we follow the initial conditions for the upward cycle of September 11. We expect the development of the upward structure after the breakdown of 0.7241. In this case, the target is 0.7287. In the area of 0.7287 – 0.7320 is the consolidation of the price. The potential value for the top is the level of 0.7362, upon reaching which we expect a pullback downwards.

Short-term downward movement is expected in the range 0.7171 – 0.7139, from this area of there is a high probability of a turn up, a breakdown of the level of 0.7139 will lead to the development of the downward movement. Here, the potential target is 0.7081.

The main trend is the initial conditions for the top of September 11.

Trading recommendations:

Buy: 0.7241 Take profit: 0.7285

Buy: 0.7320 Take profit: 0.7360

Sell: 0.7170 Take profit: 0.7140

Sell: 0.7135 Take profit: 0.7090

analytics5ba049e27d253.png

For the EUR / JPY pair, the key levels on the scale of H1 are: 132.26, 131.86, 131.42, 131.08, 130.58, 130.21 and 129.71. Here, we follow the development of the upward cycle of September 10. Short-term upward movement is expected in the area of 131.08 – 131.42. The breakdown of the last value will lead to movement towards the level of 131.86. The potential value for the top is the level of 132.26, after which we expect consolidation, as well as a pullback to the bottom.

Short-term downward movement is possible in the area of 130.58 – 130.21. The breakdown of the last value will lead to in-depth correction. Here, the target is 129.71.

The main trend is the upward cycle of September 10.

Trading recommendations:

Buy: 131.10 Take profit: 131.40

Buy: 131.46 Take profit: 131.85

Sell: 130.55 Take profit: 130.25

Sell: 130.17 Take profit: 129.74

analytics5ba049f7a1d81.png

For the GBP / JPY pair, the key levels on the scale of H1 are: 149.31, 148.43, 147.93, 147.18, 146.22, 145.67 and 145.04. Here, we consider the upward structure of September 7 as large initial conditions. The continuation of the upward movement is expected after the breakdown of 147.18. In this case, the target is 147.93. In the area of 147.93 – 148.43 the consolidation of the price. Potential value for the top is the level of 149.31, upon reaching which we expect a pullback downwards.

Short-term downward movement is possible in the range of 146.22 – 145.67. The breakdown of the last value will lead to in-depth correction. Here, the target is 145.04. This level is the key support for the upward structure of September 7.

The main trend is the upward structure of September 7.

Trading recommendations:

Buy: 147.20 Take profit: 147.90

Buy: 147.97 Take profit: 148.40

Sell: 146.20 Take profit: 145.70

Sell: 145.60 Take profit: 145.10

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

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