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 of major currency pairs for October 1

October 1, 2018 Analytics

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Dear colleagues.

For the Euro / Dollar currency pair, we expect further downward movement after the breakdown of 1.1570. The currency pair Pound / Dollar is following the descending structure of September 20 and we consider the movement upwards as a correction. The currency pair Dollar / Franc is following the development of the upward cycle of September 21. For the currency pair Dollar / Yen, the continuation of the upward movement is expected after the passage at the price range of 113.83 – 114.00. For the currency pair Euro / Yen, the price forms the potential for a downward movement of September 25, in a correction from an uptrend. For the Pound / Yen currency pair, the level of 149.00 is the key resistance for the development of the upward structure, while the development of the downward movement is expected after the breakdown of 147.59.

Forecast for October 1:

Analytical review of currency pairs in the scale of H1:

analytics5bb170f421181.png

For the EUR / USD currency pair, the key levels on the scale of H1 are: 1.1699, 1.1671, 1.1652, 1.1632, 1.1588, 1.1571 and 1.1542. Here, we continue to follow the development of a small downward cycle of September 24. The short-term downward movement is possible in the range of 1.1588 – 1.1571 and the breakdown of the last value will lead to a movement to the potential target of 1.1542, upon reaching which we expect a rollback to the top.

The short-term upward movement is possible in the range of 1.1632-1.1652 and the breakdown of the last value will lead to an in-depth correction. Here, the target is 1.1671 and this level is the key support for the bottom. Its breakdown will have to form the initial conditions for the upward cycle. Here, the target is 1.1699.

The main trend is the downward cycle from September 24.

Trading recommendations:

Buy 1.1632 Take profit: 1.1650

Buy 1.1653 Take profit: 1.1670

Sell: 1.1568 Take profit: 1.1543

Sell: Take profit:

analytics5bb17106511a3.png

For the Pound / Dollar currency pair, the key levels on the scale of H1 are 1.3204, 1.3149, 1.3114, 1.3040, 1.2995, 1.2957, 1.2867 and 1.2803. Here, we are following the downward structure of September 20th. The continued downward movement is expected after the breakdown of 1.3040. In this case, the first target is 1.2995 and in the range of 1.2995 – 1.2957 is the consolidation of the price. The passage at the price range of 1.2995 – 1.2957 will lead to the development of a pronounced downward movement. Here, the target is 1.2867. The potential value for the bottom is considered the level of 1.2803, upon reaching which we expect a rollback to the top.

The short-term uptrend is possible in the range of 1.3114 – 1.3149 and the breakdown of the last value will lead to an in-depth correction. Here, the target is 1.3204 and this level is the key support for the downward structure.

The main trend is the downward structure of September 20.

Trading recommendations:

Buy: 1.3114 Take profit: 1.3147

Buy: 1.3152 Take profit: 1.3202

Sell: 1.3040 Take profit: 1.2995

Sell: 1.2993 Take profit: 1.2958

analytics5bb1711685130.png

For the currency pair Dollar / Franc, the key levels on the scale of H1 are: 0.9907, 0.9852, 0.9826, 0.9785, 0.9759, 0.9729 and 0.9705. Here, we continue to follow the development of the ascending cycle of September 21. The short-term upward movement is possible in the range of 0.9826 – 0.9852 and the breakdown of the last value will lead to a pronounced movement. Here, the target is 0.9907, upon reaching which we expect a pullback downwards.

The short-term downward movement is possible in the range of 0.9785 – 0.9759 and the breakdown of the last value will lead to an in-depth correction. Here, the target is 0.9729 and the range of 0.9729 – 0.9705 is the key support for the top, before it we expect the initial conditions for the downward cycle.

The main trend is the upward structure of September 21.

Trading recommendations:

Buy: 0.9826 Take profit: 0.9850

Buy: 0.9855 Take profit: 0.9905

Sell: 0.9785 Take profit: 0.9763

Sell: 0.9755 Take profit: 0.9733

analytics5bb1712777a7c.png

For the currency pair Dollar / Yen, the key levels on the scale of H1 are: 114.32, 114.00, 113.83, 113.60, 113.36 and 113.01. Here, we are following the local ascending structure of September 13. The short-term upward movement is possible in the range of 113.83 – 114.00 and the breakdown of the last value will lead to a movement to the potential target of 114.32, upon reaching this level we expect a pullback downwards.

The short-term downward movement is possible in the range of 113.60 – 113.36 and the breakdown of the last value will lead to a protracted correction. Here, the target is 113.01 and this level is the key support.

The main trend: the local upward structure of September 13.

Trading recommendations:

Buy: Take profit:

Buy: 114.03 Take profit: 114.30

Sell: 113.60 Take profit: 113.38

Sell: 113.34 Take profit: 113.07

analytics5bb1713573f2f.png

For the Canadian Dollar / Dollar currency pair, the key levels at the scale of H1 are: 1.2953, 1.2904, 1.2873, 1.2822, 1.2786 and 1.2743. Here, we follow the formation of a downward structure from September 27. The short-term downward movement is possible in the range of 1.2822 – 1.2786 and the breakdown of the last value will lead to a movement to the potential target of 1.2743, upon reaching which we expect a rollback upward.

The short-term upward movement is possible in the range of 1.2873 – 1.2904 and the breakdown of the last value will lead to a protracted correction. Here, the target is 1.2953 and this level is the key support for the downward structure of September 27.

The main trend is the downward structure of September 27.

Trading recommendations:

Buy: 1.2873 Take profit: 1.2902

Buy: 1.2906 Take profit: 1.2950

Sell: 1.2820 Take profit: 1.2788

Sell: 1.2784 Take profit: 1.2746

analytics5bb17143c4517.png

For the Australian Dollar / Dollar currency pair, the key levels on the scale of H1 are: 0.7261, 0.7236, 0.7221, 0.7186, 0.7168, 0.7144 and 0.7130. Here, we follow the downward structure of September 21. The short-term downward movement is possible in the range of 0.7186 – 0.7168 and the breakdown of the latter value will lead to the development of a pronounced movement. Here, the target is 0.7144. The potential value for the bottom is considered to be the level of 0.7130, upon reaching which we expect consolidation in the range of 0.7144 – 0.7130, as well as a rollback to the top.

The short-term uptrend is expected in the range of 0.7221 – 0.7236 and the breakdown of the latter value will lead to an in-depth correction. Here, the target is 0.7261 and this level is a key support.

The main trend is the downward structure of September 21.

Trading recommendations:

Buy: 0.7221 Take profit: 0.7234

Buy: 0.7238 Take profit: 0.7260

Sell: 0.7186 Take profit: 0.7170

Sell: 0.7166 Take profit: 0.7146

analytics5bb1715269581.png

For the Euro / Yen currency pair, the key levels on the scale of H1 are: 133.85, 133.16, 132.59, 131.32, 131.02, 130.34 and 129.97. Here, we follow the formation of a downward structure from September 25. The development of this structure is expected after the passage of the price range of 131.32 – 131.02. In this case, the goal is 130.34. For the time being, we consider the potential value for the bottom to be the level of 129.97, upon reaching which we expect a rollback to the top.

The short-term upward movement is possible in the range of 132.59 – 133.16 and the breakdown of the latter value will lead to the development of an upward trend. In this case, the goal is 133.85.

The main trend is the formation of a downward structure of September 25.

Trading recommendations:

Buy: 132.60 Take profit: 133.14

Buy: 133.18 Take profit: 133.80

Sell: 131.00 Take profit: 130.40

Sell: 130.31 Take profit: 130.00

analytics5bb17160b77c6.png

For the Pound / Yen currency pair, the key levels on the scale of H1 are: 149.69, 149.00, 148.17, 147.59, 146.84, 145.89, 144.86 and 144.11. Here, the descending structure of September 21 is still relevant as potential initial conditions. The short-term downward movement is possible in the range of 148.17 – 147.59 and the breakdown of the latter value will lead to the development of a downward trend. In this case, the first target is 146.84. Its breakdown in turn will lead to a movement of 145.89, near this level is the consolidation. The breakdown of 145.89 will lead to the development of a pronounced movement. Here, the target is 144.86. The potential value for the bottom is considered the level of 144.11, upon reaching which we expect a rollback to the top.

The upward movement is possible after the breakdown of 149.00. In this case, the goal is 149.69, up to this level we expect the design of the local structure.

The main trend is the equilibrium situation.

Trading recommendations:

Buy: 149.00 Take profit: 149.65

Buy: Take profit:

Sell: 148.15 Take profit: 147.65

Sell: 147.55 Take profit: 146.90

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

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