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06.09.2018 04:33 PM
Fractal analysis for major currency pairs as of September 6

Dear colleagues.

For the currency pair Euro / Dollar, the price forms the potential for the top of September 4. For the Pound / Dollar currency pair, we follow the formation of the upward structure from September 5 and we continue to wait for the continuation of the upward movement after the breakdown of 1.2983. For the currency pair Dollar / Franc, the price is close to the lifting of the upward structure of August 31 and the level of 0.9681 is the key support. For the Dollar / Yen currency pair, we follow the design of the local structure for the top of August 31. For the currency pair Euro / Yen, the situation is in equilibrium and the level of 130.06 is the key resistance for the top. For the Pound / Yen currency pair, the price forms the potential for the top of September 4 and the development of which is expected after the breakdown of 145.01.

Forecast for September 6:

Analytical review of currency pairs in the scale of H1:

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For the EUR / USD currency pair, the key levels on the scale of H1 are: 1.1740, 1.1713, 1.1675, 1.1661, 1.1614, 1.1590, 1.1538, 1.1517 and 1.1485. Here, the price forms the potential for the top of September 4. The continuation of the development of the upward structure is expected after the passage at the price of the noise range of 1.1661 - 1.1675. In this case, the target is 1.1713. The potential value for the top is the level of 1.1740, after which we expect consolidation, as well as a pullback to the bottom.

The short-term downward movement is possible in the corridor of 1.1614-1.1590 and the breakdown of the last value will have to form a local downward structure. Here, the first target is 1.1538 and in the corridor of 1.1538 - 1.1517 is the consolidation. The potential value for the bottom is the level of 1.1485.

The main trend is the formation of the potential for the top of September 4.

Trading recommendations:

Buy 1.1675 Take profit: 1.1710

Buy 1.1714 Take profit: 1.1740

Sell: 1.1614 Take profit: 1.1592

Sell: 1.1587 Take profit: 1.1540

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For the Pound / Dollar currency pair, the key levels on the H1 scale are 1.3161, 1.3110, 1.3040, 1.3014, 1.2983, 1.2880, 1.2855, 1.2820 and 1.2786. Here, the price forms the potential for the top of September 5. The continued upward movement is expected after the breakdown of 1.2983. In this case, the target is 1.3014 and in the corridor of 1.3014 - 1.3040 is the consolidation. The break of level 1.3040 should be accompanied by a pronounced upward movement. Here, the target is 1.3110. The potential value for the upstream structures, consider the level of 1.3161.

The short-term downward movement is possible in the corridor of 1.2880 - 1.2855 and the breakdown of the last value will lead to an in-depth correction. Here, the target is 1.2820 and this level is the key support for the top. Its breakdown will have a downward movement. Here, the target is 1.2786.

The main trend is the formation of the potential for the top of September 5.

Trading recommendations:

Buy: 1.2983 Take profit: 1.3014

Buy: 1.3042 Take profit: 1.3110

Sell: 1.2880 Take profit: 1.2857

Sell: 1.2853 Take profit: 1.2820

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For the currency pair Dollar / Franc, the key levels on the scale of H1 are: 0.9876, 0.9847, 0.9831, 0.9804, 0.9771, 0.9740, 0.9681 and 0.9654. Here, we follow the formation of the initial conditions for the top of August 31. At the moment, the price is in deep correction and the level of 0.9681 is the key support for the top. Its passage by the price will have to the development of a downward movement. Here, the target is 0.9654. The continued development of the upward trend is expected after the breakdown of 0.9740. In this case, the first target is the level of 0.9771 and the breakdown of which will allow us to count on the move to 0.9804, near this level is the consolidation. The breakdown at the level of 0.9805 should be accompanied by a pronounced upward movement. Here, the target is 0.9831 and in the corridor of 0.9831 - 0.9847 is the consolidation of the price. The potential value for the top is the level of 0.9876, upon reaching which we expect a pullback downwards.

The main trend is the formation of the ascending structure from August 31, the stage of deep correction.

Trading recommendations:

Buy: 0.9740 Take profit: 0.9770

Buy: 0.9771 Take profit: 0.9802

Sell: 0.9680 Take profit: 0.9655

Sell: Take profit:

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For the Dollar / Yen currency pair, the key levels on a scale are: 112.42, 112.13, 111.80, 111.60, 111.01, 110.82 and 110.47. Here, we follow the formation of local initial conditions for the top of August 21. The short-term upward movement is expected in the corridor of 111.60 - 111.80 and the breakdown of the last value will lead to a pronounced movement. In this case, the target is 112.13. We consider the level of 112.42 to be a potential value for the top, after which we expect consolidation, as well as a pullback to the bottom.

The short-term downward movement is possible in the corridor of 111.01 - 110.82 and the breakdown of the last value will lead to an in-depth correction. Here, the target is 110.47 and this level is the key support for the upward structure.

The main trend, we expect the design of the local structure for the top on August 31.

Trading recommendations:

Buy: 111.60 Take profit: 111.80

Buy: 111.83 Take profit: 112.12

Sell: 111.00 Take profit: 110.83

Sell: 110.80 Take profit: 110.50

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For the Canadian Dollar / Dollar currency pair, the key levels on the H1 scale are: 1.3271, 1.3235, 1.3200, 1.3156, 1.3133 and 1.3097. Here, we follow the upward cycle of August 30. The continuation of the main trend is expected after the breakdown of the level of 1.3200. In this case, the target is 1.3235 and from this level, the probability of leaving for correction is high. As a potential move for the top, consider the level of 1.3271, upon reaching which we expect a pullback downwards.

The short-term downward movement is possible in the corridor of 1.3156 - 1.3133 and the breakdown of the last value will lead to an in-depth correction. In this case, the target is 1.3097 and this level is the key support for the upward structure.

The main trend is the ascending structure of August 30.

Trading recommendations:

Buy: 1.3200 Take profit: 1.3233

Buy: 1.3237 Take profit: 1.3270

Sell: 1.3155 Take profit: 1.3135

Sell: 1.3130 Take profit: 1.3097

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For the Australian Dollar / Dollar currency pair, the key levels on the scale of H1 are: 0.7273, 0.7241, 0.7216, 0.7152, 0.7131, 0.7094 and 0.7062. Here, we follow the downward structure of August 28. The continued downward movement is expected after the passage at the price of the noise range of 0.7152 - 0.7131. In this case, the target is 0.7094. The potential value for the bottom is the level of 0.7062, after which we expect the consolidated movement in the range 0.7062 - 0.7094.

The short-term upward movement is possible in the corridor of 0.7216 - 0.7241 and the breakdown of the last value will lead to an in-depth correction. Here, the target is 0.7273 and this level is the key support for the bottom.

The main trend is the downward structure of August 28.

Trading recommendations:

Buy: 0.7216 Take profit: 0.7240

Buy: 0.7243 Take profit: 0.7273

Sell: 0.7130 Take profit: 0.7095

Sell: 0.7092 Take profit: 0.7062

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For the Euro / Yen currency pair, the key levels on the scale of H1 are: 130.92, 130.06, 129.55, 128.43, 127.98, 127.47 and 127.18. Here, the situation is in an equilibrium state. The short-term upward movement is possible in the range of 129.55 - 130.06 and the breakdown of the last value will lead to the formation of initial conditions for the upward cycle. Here, the target is 130.92.

The short-term downward movement is possible in the corridor of 128.43 - 127.98 and the breakdown of the last value will lead to a pronounced movement. Here, the target is 127.47. The range of 127.47 - 127.18, before it we expect the initial conditions for the descending cycle to be formalized.

The main trend is the equilibrium situation.

Trading recommendations:

Buy: 129.57 Take profit: 130.00

Buy: 130.10 Take profit: 130.90

Sell: 128.40 Take profit: 128.00

Sell: 127.95 Take profit: 127.50

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For the Pound / Yen currency pair, the key levels on the scale of H1 are: 146.67, 146.35, 145.77, 145.01, 144.32, 143.70, 143.29, 142.54 and 141.99. Here, the price forms the potential for the top of September 4. The continued development of the upstream structure is expected after the breakdown of 144.32. In this case, the target is 145.01 and near this level is the consolidation. The breakdown of 145.01 will lead to the development of a pronounced movement. Here, the target is 145.77. The potential value for the top is the level of 146.67, after which we expect consolidated movement in the corridor 146.35 - 146.67.

The short-term downward movement is possible in the corridor of 143.70 - 143.29 and the breakdown of the latter value will lead to the development of a downward structure. Here, the target is 142.54. As a potential value for the bottom, consider the level of 141.99.

The main trend is the formation of the potential for the top of September 4.

Trading recommendations:

Buy: 144.35 Take profit: 145.00

Buy: 145.05 Take profit: 145.75

Sell: 143.70 Take profit: 143.33

Sell: 143.20 Take profit: 142.60

Daichi Takahashi,
Analytical expert of InstaForex
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