Forecast for August 22 :
Analytical review of currency pairs on the scale of H1:
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 except 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 possibility 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
For the pound / dollar pair, the key levels on the H1 scale are: 1.2263, 1.2219, 1.2203, 1.2184, 1.2131.1.2105 and 1.2063. Here, the price forms a local structure for the subsequent development of the upward trend and is currently in deep correction. The continuation of the movement to the top is expected after the breakdown of the level of 1.2185. In this case, the target is 1.2203, wherein consolidation is near this level. The passage of the price at the noise range 1.2203 - 1.2219 should be accompanied by a pronounced upward movement. Here, the target is 1.2263. We expect a pullback to this level from this level.
Consolidated movement is possibly in the range of 1.2131 - 1.2105. The breakdown of the latter value will have the downward structure. In this case, the potential target is 1.2063.
The main trend is the local structure for the top of August 20, the correction stage.
Trading recommendations:
Buy: 1.2185 Take profit: 1.2203
Buy: 1.2220 Take profit: 1.2260
Sell: 1.2129 Take profit: 1.2105
Sell: 1.2103 Take profit: 1.2065
For the dollar / franc pair, the key levels on the H1 scale are: 0.9949, 0.9923, 0.9883, 0.9854, 0.9816, 0.9768, 0.9745 and 0.9714. Here, we follow the ascending structure of August 13. At the moment, we expect a movement to the level of 0.9854. Short-term upward movement, as well as consolidation is 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 0.9768 - 0.9745. The breakdown of the last value will lead to an in-depth correction. Here, the target is 0.9714. This level is a key support for the top.
The main trend is the upward cycle of August 13.
Trading recommendations:
Buy : 0.9816 Take profit: 0.9854
Buy : 0.9856 Take profit: 0.9881
Sell: 0.9768 Take profit: 0.9747
Sell: 0.9743 Take profit: 0.9715
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, wherein 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
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
For the Australian dollar / US dollar pair, the key levels on the H1 scale are : 0.6967, 0.6922, 0.6902, 0.6869, 0.6843, 0.6803, 0.6762, 0.6733 and 0.6675. Here, we are following the development of the ascending structure of August 7, and the price has formed a small potential for the top of August 14. The continuation of the upward movement is expected after the breakdown of the level of 0.6803. In this case, the first target is 0.6843. Short-term upward movement, as well as consolidation is in the range of 0.6843 - 0.6869. The breakdown of the level of 0.6870 should be accompanied by a pronounced upward movement. Here, the target is 0.6902. Price consolidation is in the range of 0.6902 - 0.6922. For the potential value for the top, we consider the level of 0.6967. Upon reaching which, we expect a pullback to the bottom.
We expect a consolidated movement in the range of 0.6762 - 0.6733. The breakdown of the level of 0.6733 will lead to the development of a downward structure. In this case, the potential target is 0.6675.
The main trend is the ascending structure of August 7, the correction stage.
Trading recommendations:
Buy: 0.6805 Take profit: 0.6840
Buy: 0.6844 Take profit: 0.6867
Sell : 0.6760 Take profit : 0.6736
Sell: 0.6730 Take profit: 0.6680
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, we are following the development of local potential for the bottom of August 13. 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, where near this level is a consolidation.
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 formation of a local descending structure of August 13.
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
For the pound / yen pair, the key levels on the H1 scale are : 132.17, 131.23, 130.57, 129.66, 127.94, 127.33, 126.48 and 125.57. Here, we follow the development of the ascending structure of August 12. Short-term upward movement is expected in the range 129.00 - 129.66. The breakdown of the last value will lead to a pronounced upward movement. Here, the target is 130.57. Short-term upward movement, as well as consolidation is in the range of 130.57 - 131.23. For the potential value for the top, we consider the level of 132.17. Upon reaching which, we expect consolidation, as well as a pullback to the bottom.
Short-term downward movement is possibly in the range of 127.94 - 127.33. The breakdown of the latter value will favor the development of a downward structure. Here, the first goal is 126.48. For the potential value, we consider the level of 125.57.
The main trend is building potential for the top of August 12.
Trading recommendations:
Buy: 129.67 Take profit: 130.55
Buy: 130.60 Take profit: 131.20
Sell: 127.30 Take profit: 126.50
Sell: 126.44 Take profit: 125.60
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