Dear colleagues.
The EUR/USD pair follows the formation of the upward structure of August 9. The GBP/USD pair continues towards a downward movement after the breakdown of 1.2960. Upward movement in this pair is considered as a correction. For the USD/CHF pair, price is still in the initial conditions for the downward movement of August 8. For the USD/JPY pair, we follow the downward structure of August 7. For the EUR/JPY, the price moved to the correction zone following a downward structure. Continued downward movement is possible after the breakdown of 128.70. For the the GBP/JPY pair, the price is still in correction from the downward cycle on August 2.
Forecast for August 14:
Analytical review of currency pairs in the scale of H1:
For the EUR/USD pair, the key levels on the scale of H1 are: 1.2006, 1.1964, 1.1882, 1.1854, 1.1810, 1.1783, 1.1745 and 1.1688. Here, we follow the formation of the upward structure of August 9. Short-term upward movement is expected in the area of 1.1854 - 1.1882. The breakdown of the last value should be accompanied by a pronounced upward movement to the level of 1.1964. The potential value for the top is the level of 1.2006, after which we expect consolidation.
Short-term downward movement is possible in the area of 1.1810-1.1783. The breakdown of the last value will lead to in-depth correction. Here, the target is 1.1745. This level is the key support for the top.
The main trend is the formation of the upward structure of August 9.
Trading recommendations:
Buy: 1.1854 Take profit: 1.1880
Buy: 1.1884 Take profit: 1.1964
Sell: 1.1810 Take profit: 1.1785
Sell: 1.1780 Take profit: 1.1747
For the GBP/USD pair, the key levels on the scale of H1 are: 1.3157, 1.3106, 1.3074, 1.3029, 1.2960, 1.2905 and 1.2867. Here, we continue to follow the development of the downward structure of August 3. Continued downward movement is expected after the breakdown of 1.2960. In this case, the target is 1.2905. The potential value for the bottom is the level of 1.2867, upon reaching which we expect consolidation in the area of 1.2867 - 1.2905.
Correction is possible after the breakdown of 1.3030. Here, the first target is 1.3074. Short-term upward movement is expected in the area of 1.3074 - 1.3106. The breakdown of the last value will lead to the formation of initial conditions for the upward cycle. Here, the target is 1.3155.
The main trend is the downward structure of August 3.
Trading recommendations:
Buy: 1.3030 Take profit: 1.3074
Buy: 1.3108 Take profit: 1.3155
Sell: 1.2958 Take profit: 1.2907
Sell: 1.2905 Take profit: 1.2870
For the USD/CHF pair, the key levels on the scale of H1 are: 0.9691, 0.9655, 0.9630, 0.9569, 0.9536, 0.9494 and 0.9469. Here, we follow the development of the downward structure of August 8. At the moment, we expect it to move to the level of 0.9569 after reaching consolidation in the area of 0.9569 - 0.9536. The break of 0.9536 level should be accompanied by a pronounced downward movement to the level of 0.9494. The potential value for the bottom is the level of 0.9469, upon reaching which we expect a pullback upward.
Short-term uptrend is possible in the area of 0.9630 - 0.9655 The breakdown of the last value will lead to an in-depth movement. Here, the target is 0.9691.
The main trend is the downward structure of August 8.
Trading recommendations:
Buy: 0.9630 Take profit: 0.9654
Buy: 0.9657 Take profit: 0.9690
Sell: 0.9567 Take profit: 0.9538
Sell: 0.9534 Take profit: 0.9496
For the USDJPY pair, the key levels on the scale of H1 are: 110.09, 109.57, 109.24, 108.53, 108.13 and 107.62. Here, we follow the development of the local downward structure of August 7. Short-term movement down to the area of 108.53 - 108.13 is possible. The breakdown of the last value will lead to movement towards the potential target of 107.62, from which we expect a rollback upward.
Short-term upward movement is possible in the area of 109.24 - 109.57. The breakdown of the last value will lead to in-depth correction. Here, the target is 110.09. This level is the key support for the downward structure.
The main trend is the downward structure of August 7.
Trading recommendations:
Buy: 109.24 Take profit: 109.55
Buy: 109.60 Take profit: 110.05
Sell: 108.52 Take profit: 108.15
Sell: 108.11 Take profit: 107.65
For the CAD/USD pair, the key levels on the H1 scale are: 1.2912, 1.2838, 1.2803, 1.2743, 1.2694, 1.2660 and 1.2608. Here, we continue to follow the upward structure of July 27. Continued upward movement is expected after the breakdown of 1.2745. In this case, the target is 1.2803. In the area of 1.2803 - 1.2838 is consolidation of the price. The potential value for the top is the level of 1.2912, upon reaching which we expect the correction to start.
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 on the H1 scale are: 0.8001, 0.7970, 0.7920, 0.7838, 0.7802 and 0.7754. Here, short-term downward movement is expected in the range of 0.7838 - 0.7802. The breakdown of the last value will lead to a movement towards the potential target of 0.7754, upon reaching which we expect a pullback upward.
The correction is possible after the breakdown of 0.7920. Here, the target is 0.7970. The range of 0.7970 - 0.8001 is the key support for the downward structure. Surpassing this price will lead to the development of an upward structure. In this case, the target is 0.8066.
The main trend is the downward structure of July 27.
Trading recommendations:
Buy: 0.7920 Take profit: 0.7970
Buy: 0.8003 Take profit: 0.8065
Sell: 0.7838 Take profit: 0.7804
Sell: 0.7800 Take profit: 0.7756
For the EUR/JPY pair, the key levels on the scale of H1 are: 130.35, 129.98, 129.56, 128.71, 127.94, 127.33 and 126.89. Here, we follow the downward cycle from August 2. At the moment, the price is in correction. Continued downward movement is expected after the breakdown of the level of 128.71. In this case, the first target is 127.94, the breakdown of which will allow us to count on the move towards the potential target of 126.89. In the area of 126.89 - 127.33 is the price consolidation.
Continued movement in the correction zone is possible after the breakdown of 129.56. Here, the target is 129.98. The range of 129.98 - 130.35 is the noise. Before it, we expect the initial conditions for the upward cycle to be formed.
The main trend is the downward structure of August 2, the correction stage.
Trading recommendations:
Buy: 129.56 Take profit: 129.95
Buy: 130.00 Take profit: 130.35
Sell: 128.70 Take profit: 128.00
Sell: 127.90 Take profit: 127.35
For the GBP/JPY pair, the key levels on the scale of H1 are: 143.51, 142.51, 141.91, 140.95, 140.31 and 139.20. Here, we follow the development of the downward structure from August 2. At the moment, the price is in correction. Short-term downward movement is possible. We expect it in the area of 140.95 - 140.31. The potential value for the bottom is the level of 139.20, which we expect the price movement to go to after the breakdown of 140.30.
Consolidation is expected in the area of 141.91 - 142.51. The breakdown of the last value will lead to in-depth correction. Here, the target is 143.51. This level is the key support for the bottom.
The main trend is the downward structure of August 2, the correction stage.
Trading recommendations:
Buy: Take profit:
Buy: 142.55 Take profit: 143.50
Sell: 140.95 Take profit: 140.35
Sell: 140.26 Take profit: 139.25
