Dear colleagues.
For the EUR/USD pair, the price forms the potential for a downward movement from August 11. For the GBP/USD pair, we again expanded the potential for a downward movement to the level of 1.2749. Moving upward is seen as a correction. For the USD/CHF pair, the price is still in the initial conditions for the upward cycle of August 11. For the USD/JPY pair, it follow the development of the upward cycle of August 11. For the EUR/JPY pair, the price forms a pronounced structure for the top of August 11. For the GBP/JPY pair, the upward trend in the H1 scale is expected after the breakdown at 143.06.
Forecast for August 16:
Analytical review of currency pairs in the scale of H1:
For the EUR/USD pair, the key levels on the scale of H1 are: 1.1846, 1.1783, 1.1745, 1.1688, 1.1647, 1.1588 and 1.1564. Here, we follow the formation of the downward structure of August 11. Continued downward movement is expected after the breakdown of 1.1688. In this case, the target is 1.1647. Near this level is the consolidation of the price. Breaking the level of 1.1645 should be accompanied by a pronounced movement towards the level of 1.1588, upon reaching which we expect consolidation in the area of 1.1588 - 1.1564.
Short-term upward movement is possible in the range of 1.1745-1.1783. Hence, the probability of a turn downwards is high. The breakdown at the level of 1.1785 will have an upward structure. In this case, the potential target is 1.1846.
The main trend is the formation of a downward structure from August 11.
Trading recommendations:
Buy: 1.1745 Take profit: 1.1780
Buy: 1.1785 Take profit: 1.1844
Sell: 1.1688 Take profit: 1.1650
Sell: 1.1644 Take profit: 1.1590
For the GBP/USD pair, the key levels in the scale of H1 are: 1.2998, 1.2945, 1.2905, 1.2838, 1.2802 and 1.2749. Here, we continue to follow the development of the downward structure of August 3. Short-term downward movement is expected in the range of 1.2838 - 1.2802. The breakdown of the last value will lead to a movement to the potential target of 1.2749. From this level, we expect a rollback to correction.
Short-term upward movement is possible in the range of 1.2905 - 1.2945. The breakdown of the latter value will lead to in-depth movement. Here, the target is 1.2998. This level is the key support for the bottom.
The main trend is the downward structure of August 3.
Trading recommendations:
Buy: 1.2905 Take profit: 1.2944
Buy: 1.2947 Take profit: 1.2995
Sell: 1.2838 Take profit: 1.2805
Sell: 1.2800 Take profit: 1.2750
For the USD/CHF pair, the key levels on the scale of H1 are: 0.9884, 0.9846, 0.9787, 0.9743, 0.9697, 0.9671, 0.9636 and 0.9583. Here, we continue to follow the formation of the upward structure of August 11. Continued upward movement is expected after the breakdown of 0.9742. In this case, the target is 0.9787. Near this level is the consolidation of the price. The break at 0.9790 should be accompanied by a pronounced upward movement to the level of 0.9846. The potential value for the top is the level of 0.9884.
Short-term downward movement is possible in the area of 0.9697 - 0.9671. The breakdown of the last value will lead to in-depth correction. Here, the target is 0.9636. This level is the key support for the top.
The main trend is the formation of the upward structure of August 11.
Trading recommendations:
Buy: 0.9742 Take profit: 0.9785
Buy: 0.9790 Take profit: 0.9845
Sell: 0.9695 Take profit: 0.9674
Sell: 0.9668 Take profit: 0.9638
For the pair USD/JPY, the key levels on the scale of H1 are: 112.07, 111.57, 111.34, 110.91, 110.47, 110.23, 109.85 and 109.57. Here, we follow the development of the upward cycle of August 11. Continued upward movement is expected after the breakdown of 110.91. In this case, the target is 111.34. In the area of 111.34 - 111.57 is the consolidation of the price. The potential value for the top is the level 112.07, upon reaching which we expect a pullback downwards.
Short-term downward movement is possible in the area of 110.47 - 110.23. The breakdown of the last value will lead to in-depth correction. Here, the target is 109.85. The range of 109.85 - 109.57 is the key support for the top. Before it, we expect the formation of potential initial conditions for the downward cycle.
The main trend is the upward structure of August 11.
Trading recommendations:
Buy: 110.91 Take profit: 111.34
Buy: 111.58 Take profit: 112.05
Sell: 110.45 Take profit: 110.25
Sell: 110.18 Take profit: 109.85
For the CAD/USD pair, the key levels in the scale of H1 are: 1.2912, 1.2838, 1.2803, 1.2743, 1.2694, 1.2660 and 1.2608. Here, we continue to follow the upward structure from July 27 and expect a move to the level of 1.2803. In the area of 1.2803 - 1.2838 is the consolidation of the price. The potential value for the top is the level of 1.2912, upon reaching which we expect the correction to begin.
Short-term downward movement is possible in the area of 1.2694 - 1.2660. The breakdown of the last value will lead to in-depth correction. Here, the target is 1.2608. This level is the key support for the top.
The main trend is the upward cycle of July 27.
Trading recommendations:
Buy: 1.2745 Take profit: 1.2800
Buy: 1.2840 Take profit: 1.2910
Sell: 1.2692 Take profit: 1.2661
Sell: 1.2658 Take profit: 1.2610
For the AUD/USD pair, the key levels in the scale of H1 are: 0.7970, 0.7920, 0.7887, 0.7853, 0.7802, 0.7754, 0.7729 and 0.7670. Here, we continue to follow the downward trend of July 27. Continued downward movement is expected after the breakdown of 0.7802. In this case, the target is 0.7754. In the area of 0.7754 - 0.7729 is the consolidation of the price. The potential value for the bottom is the level of 0.7670, upon reaching which we expect a rollback to the top.
Short-term upward movement is possible in the area of 0.7853 - 0.7887. The breakdown of the last value will lead to in-depth correction. Here, the target is 0.7920. This level is the key support for the downward structure. For the level of 0.7970, we expect formalized initial conditions for the upward cycle.
The main trend is the downward structure of July 27.
Trading recommendations:
Buy: 0.7855 Take profit: 0.7885
Buy: 0.7888 Take profit: 0.7920
Sell: 0.7800 Take profit: 0.7755
Sell: 0.7725 Take profit: 0.7675
For the EUR/JPY pair, the key levels on the scale of H1 are: 131.34, 130.88, 130.26, 129.98, 129.25, 128.83 and 128.03. Here, we follow the formation of the initial conditions for the upward cycle of August 11. Continued development of the upward trend is expected after passing the price of the noise range of 129.98 - 130.26. In this case, the target is 130.88. Potential value for the top is the level of 131.34, upon reaching which we expect a rollback to correction.
Short-term downward movement is possible in the area of 129.25 - 128.83. The breakdown of the latter value will lead to the development of a downward structure. In this case, the target is 128.03.
The main trend is the formation of the upward structure of August 11.
Trading recommendations:
Buy: 130.26 Take profit: 130.85
Buy: 130.90 Take profit: 131.30
Sell: 129.25 Take profit: 128.85
Sell: 128.78 Take profit: 128.10
For the GBP/JPY pair, the key levels on the scale of H1 are: 144.24, 143.85, 143.06, 142.56, 142.15, 141.79, 141.20 and 140.31. Here, the price forms a pronounced structure for the top of August 11. Continued upward movement is expected after the breakdown at 143.06. In this case, the target is 143.85. Potential value for the upward movement is the level of 144.24, upon reaching which we expect a pullback downwards.
Consolidated movement is expected in the range of 142.56 - 142.15. The breakdown of the last value will lead to in-depth correction. Here, the target is 141.79. This level is the key support for the top. Its breakdown will have a downward structure. In this case, the target is 141.20.
The main trend is the formation of the upward structure of August 11.
Trading recommendations:
Buy: 143.06 Take profit: 143.80
Buy: 143.87 Take profit: 144.20
Sell: 141.75 Take profit: 141.30
Sell: 141.15 Take profit: 140.35
