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Forecast for August 23:

Analytical review of currency pairs on the scale of H1:

Exchange Rates 23.08.2019 analysis

For the euro / dollar pair, the key levels on the H1 scale are: 1.1124, 1.1102, 1.1073, 1.1062, 1.1032 and 1.1011. Here, the price is in correction from the downward structure on August 13. Short-term movement to the bottom is expected in the range of 1.1073 - 1.1062. The breakdown of the latter value will lead to a pronounced movement. Here, the goal is 1.1032. Price consolidation is near this level and hence the likelihood of a correction. For the potential value for the downward trend, we consider the level of 1.1032.

The breakdown of the level of 1.1107 will lead to the formation of a pronounced potential for the top. In this case, the first goal is 1.1124, wherein consolidation is near this level.

The main trend is the downward cycle of August 13, the correction stage.

Trading recommendations:

Buy 1.1108 Take profit: 1.1122

Buy Take profit:

Sell: 1.1060 Take profit: 1.1035

Sell: 1.1030 Take profit: 1.1011

Exchange Rates 23.08.2019 analysis

For the pound / dollar pair, the key levels on the H1 scale are: 1.2362, 1.2338, 1.2293, 1.2265, 1.2224, 1.2201 and 1.2167. Here, we continue to monitor the local ascending structure of August 20. Short-term upward movement is expected in the range of 1.2265 - 1.2293. The breakdown of the last value should be accompanied by a pronounced upward movement. Here, the target is 1.2338. For the potential value for the top, we consider the level of 1.2362. Upon reaching which, we expect consolidation, as well as a pullback to the bottom.

Short-term downward movement is expected in the range of 1.2224 - 1.2201. The breakdown of the latter value will lead to in-depth movement. Here, the target is 1.2167. This level is a key support for the top.

The main trend is the local structure for the top of August 20.

Trading recommendations:

Buy: 1.2265 Take profit: 1.2290

Buy: 1.2295 Take profit: 1.2336

Sell: 1.2224 Take profit: 1.2201

Sell: 1.2198 Take profit: 1.2168

Exchange Rates 23.08.2019 analysis

For the dollar / franc pair, the key levels on the H1 scale are: 0.9949, 0.9923, 0.9883, 0.9854, 0.9816, 0.9815, 0.9795 and 0.9774. Here, we follow the ascending structure of August 13. Short-term upward movement is expected in the range of 0.9854 - 0.9883. The breakdown of the level of 0.9883 should be accompanied by a pronounced upward movement. Here, the target is 0.9923. For the potential value for the top, we consider the level of 0.9949. Upon reaching which, we expect consolidation, as well as a pullback to the bottom.

Short-term downward movement is possibly in the range of 0.9815 - 0.9795. The breakdown of the latter value will lead to an in-depth correction. Here, the target is 0.9774. This level is a key support for the top.

The main trend is the upward cycle of August 13.

Trading recommendations:

Buy : 0.9855 Take profit: 0.9881

Buy : 0.9884 Take profit: 0.9923

Sell: 0.9815 Take profit: 0.9796

Sell: 0.9794 Take profit: 0.9774

Exchange Rates 23.08.2019 analysis

For the dollar / yen pair, the key levels on the scale are : 108.62, 108.14, 107.45, 106.91, 106.35, 105.94, 105.64 and 105.01. Here, we continue to monitor the ascending structure from August 12. The continuation of the movement to the top is expected after the breakdown of the level of 106.91. In this case, the target is 107.45, where consolidation is near this level. The breakdown of the level of 107.45 should be accompanied by a pronounced upward movement. Here, the goal is 108.14. For the potential value for the top, we consider the level of 108.62. Upon reaching which, we expect a pullback to the bottom.

The range of 105.94 - 105.64 is a key support for the top. Its passage at the price will lead to the development of a downward movement. In this case, the target is 105.01.

The main trend: building potential for the top of August 12.

Trading recommendations:

Buy: 106.91 Take profit: 107.43

Buy : 107.47 Take profit: 108.14

Sell: Take profit:

Sell: 105.62 Take profit: 105.04

Exchange Rates 23.08.2019 analysis

For the Canadian dollar / US dollar pair, the key levels on the H1 scale are: 1.3345, 1.3319, 1.3300, 1.3246, 1.3217, 1.3182 and 1.3158. Here, the price forms the potential for the downward movement of August 20. The continuation of the movement to the bottom is expected after the breakdown of the level of 1.3246. In this case, the target is 1.3217, and near this level is a price consolidation. The breakdown of the level of 1.3217 should be accompanied by a pronounced downward movement. Here, the target is 1.3182. For the potential value for the bottom, we consider the level of 1.3158. Upon reaching which, we expect consolidation, as well as a rollback to the top.

Short-term upward movement is possibly in the range of 1.3300 - 1.3319. The breakdown of the latter value will favor the formation of an upward structure. Here, the target is 1.3345.

The main trend is the formation of potential for the bottom of August 20.

Trading recommendations:

Buy: 1.3300 Take profit: 1.3316

Buy : 1.3321 Take profit: 1.3345

Sell: 1.3246 Take profit: 1.3219

Sell: 1.3215 Take profit: 1.3182

Exchange Rates 23.08.2019 analysis

For the Australian dollar / US dollar pair, the key levels on the H1 scale are : 0.6798, 0.6778, 0.6766, 0.6747, 0.6741, 0.6725, 0.6716 and 0.6699. Here, the price forms a downward structure from August 21. The continuation of movement to the bottom is expected after the price passes the noise range 0.6747 - 0.6741. In this case, the target is 0.6725. Price consolidation is in the range of 0.6725 - 0.6716. For the potential value for the bottom, we consider the level of 0.6699. Upon reaching which, we expect a pullback to the top.

Short-term upward movement is possibly in the range of 0.6766 - 0.6778. The breakdown of the latter value will lead to the formation of initial conditions for the top. In this case, the potential target is 0.6798.

The main trend is the descending structure of August 21.

Trading recommendations:

Buy: 0.6767 Take profit: 0.6776

Buy: 0.6780 Take profit: 0.6798

Sell : 0.6740 Take profit : 0.6725

Sell: 0.6715 Take profit: 0.6700

Exchange Rates 23.08.2019 analysis

For the euro / yen pair, the key levels on the H1 scale are: 119.40, 118.65, 118.22, 117.58, 117.16 and 116.54. Here, the situation is in equilibrium. Short-term downward movement is expected in the range of 117.58 - 117.16. The breakdown of the latter value will allow us to expect movement to a potential target - 116.54. Price consolidation is near this level.

Short-term upward movement is expected in the range of 118.22 - 118.65. The breakdown of the last value will have the formation of an ascending structure for the top. Here, the first goal is 119.40.

The main trend is the equilibrium situation.

Trading recommendations:

Buy: 118.22 Take profit: 118.62

Buy: 118.70 Take profit: 119.40

Sell: 117.56 Take profit: 117.18

Sell: 117.14 Take profit: 116.55

Exchange Rates 23.08.2019 analysis

For the pound / yen pair, the key levels on the H1 scale are : 133.74, 132.73, 132.17, 131.23, 130.57, 129.66, 129.00 and 128.12. Here, we follow the development of the ascending structure of August 12. Short-term upward movement is expected in the range of 130.57 - 131.23. The breakdown of the latter value will lead to a pronounced upward movement. Here, the target is 132.17. Short-term upward movement, as well as consolidation is in the range of 132.17 - 132.73. For the potential value for the top, we consider the level of 133.74. Upon reaching which, we expect consolidation, as well as a pullback to the bottom.

Short-term downward movement is possibly in the range of 129.66 - 129.00. The breakdown of the last value will lead to an in-depth correction. Here, the goal is 128.12. This level is a key support for the top.

The main trend is the ascending structure of August 12.

Trading recommendations:

Buy: 130.58 Take profit: 131.23

Buy: 131.26 Take profit: 132.17

Sell: 129.66 Take profit: 129.05

Sell: 128.96 Take profit: 128.12

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

Performed by Daichi Takahashi,
Analytical expert
InstaForex Group © 2007-2019
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