Dear colleagues.
For the EUR / USD pair, the price canceled the main structure from August 29. For the time being, we are following the upward cycle of August 31. For the GBP / USD pair, the upside potential was extended to 1.3271 due to the medium-term structure on August 24. For the USD / CHF pair, we follow the development of the downward cycle from August 31. For the USD / JPY pair, the price issued a local structure for the downward movement of September 6. For the EUR / JPY pair, the potential for an upward trend is forming on September 6. For the GBP / JPY pair, we follow the formation of the local upward structure of September 5.
Forecast for September 8:
Analytical review of currency pairs on the scale of H1:
For the EUR / USD pair, the key levels on the scale of H1 are: 1.2221, 1.2182, 1.2132, 1.2106, 1.2014, 1.1984 and 1.1940. Here, after the abolition of the main structure of August 29, we follow the development of the upward cycle of August 31. Short-term upward movement is expected in the range 1.2106 - 1.2132. The breakdown of the last value will lead to a movement to the level of 1.2182. Near this level we expect consolidation. The potential value for the top is the level of 1.2221, from which we expect a pullback downwards.
Short-term downward movement is possible in the area of 1.2014 - 1.1984. The breakdown of the last value will lead to in-depth correction. Here, the target is 1.1940. This level is the key support for the top.
The main trend is the upward structure of August 31.
Trading recommendations:
Buy: 1.2106 Take profit: 1.2130
Buy: 1.2134 Take profit: 1.2180
Sell: 1.2012 Take profit: 1.1985
Sell: 1.1982 Take profit: 1.1944
For the GBP / USD pair, the key levels on the scale of H1 are: 1.3271, 1.3195, 1.3160, 1.3087, 1.3054, 1.3000 and 1.2977. Here, we determined from a larger upward structure on August 24 the subsequent objectives for the top. Short-term upward movement is expected in the range of 1.3160 - 1.3195. Hence, the probability of leaving the correction is high. The potential value for the top is the level of 1.3271, from which we expect a pullback downwards.
Short-term downward movement is possible in the area of 1.3087 - 1.3054. The breakdown of the last value will lead to in-depth correction. Here, the target is 1.3000. The range 1.3000 - 1.2977 is the key support.
The main trend is the upward structure of August 24.
Trading recommendations:
Buy: 1.3160 Take profit: 1.3192
Buy: 1.3198 Take profit: 1.3270
Sell: 1.3085 Take profit: 1.3057
Sell: 1.3052 Take profit: 1.3000
For the USD / CHF pair, the key levels on the scale of H1 are: 0.9552, 0.9499, 0.9472, 0.9429, 0.9409 and 0.9363. Here, we follow the development of the downward cycle from August 31 after the abolition of the main structure of August 29. Short-term downward movement is expected in the range of 0.9429 - 0.9409. The breakdown of the last value will lead to a movement towards the potential target of 0.9363, from which we expect a correction.
Short-term uptrend is possible in the area of 0.9472 - 0.9499. The breakdown of the last value will lead to deeper movement. Here, the target is 0.9552. Up to this level, we expect the initial conditions for the upward cycle to be formalized.
The main trend is the downward cycle from August 31.
Trading recommendations:
Buy: 0.9472 Take profit: 0.9496
Buy: 0.9502 Take profit: 0.9550
Sell: 0.9427 Take profit: 0.9410
Sell: 0.9406 Take profit: 0.9368
For the USD / JPY pair, the key levels on a scale are: 109.39, 108.91, 108.59, 108.36, 107.94, 107.52, 107.01 and 106.67. Here, we determined the subsequent goals for the downward movement from the local structure on September 6. Continued downward movement is expected after the breakdown of 107.94. In this case, the target is 107.52. Near this level is the consolidation of the price. The breakdown of the level of 107.50 should be accompanied by a pronounced movement to the level of 107.01. Potential value for the bottom is the level of 106.67, upon reaching which we expect a rollback upward.
Short-term upward movement is possible in the range of 108.36 - 108.59. The breakdown of the last value will lead to in-depth correction. Here, the target is 108.91. This level is the key support for the downward structure. Its breakdown will lead to the creation of potential for the milestone. Here, the target is 109.39.
The main trend is a local structure for the bottom of September 6.
Trading recommendations:
Buy: 108.36 Take profit: 108.57
Buy: 108.62 Take profit: 108.90
Sell: 107.92 Take profit: 107.05
Sell: 106.98 Take profit: 106.67
For the CAD / USD pair, the key H1 scale levels are: 1.2224, 1.2152, 1.2102, 1.2021, 1.1906 and 1.1842. Here, we continue to follow the development of the downward structure of August 31. Continued downward movement is expected after the breakdown of 1.2020. In this case, the target is 1.1906. The potential value for the top is the level of 1.1842, from which we expect the correction to go. In general, we most likely expect a rollback from the level of 1.2021, followed by the formation of initial conditions for the upward cycle.
Short-term upward movement is possible in the area of 1.2102 - 1.2152. The breakdown of the last value will lead to in-depth correction. Here, the target is 1.2224. This level is the key support for the downward structure.
The main trend is the downward cycle from August 31.
Trading recommendations:
Buy: 1.2102 Take profit: 1.2150
Buy: 1.2155 Take profit: 1.2222
Sell: 1.2020 Take profit: 1.1910
Sell: 1.1904 Take profit: 1.1845
For the AUD / USD pair, the key levels on the H1 scale are: 0.8160, 0.8129, 0.8070, 0.8045, 0.8007 and 0.7959. Here, we continue to follow the upward cycle of August 31. At the moment, we expect the move to the level of 0.8129. The potential value for the top is the level of 0.8160, upon reaching which we expect consolidation in the area of 0.8129 - 0.8160, as well as a pullback to the bottom.
Short-term downward movement is possible in the area of 0.8070 - 0.8045. The breakdown of the last value will lead to in-depth correction. Here, the target is 0.8007. This level is the key support for the top.
The main trend is the upward cycle of August 31.
Trading recommendations:
Buy: 0.8130 Take profit: 0.8158
Buy: Take profit:
Sell: 0.8070 Take profit: 0.8047
Sell: 0.8043 Take profit: 0.8010
For the of EUR / JPY pair, the key levels on the scale of H1 are: 132.08, 131.87, 131.43, 131.16, 130.77, 130.45, 129.94, 129.68, 129.29, 129.08 and 128.63. Here, the price forms the potential for the top of September 6 in correction from the downward structure. Continued upward movement is expected after the breakdown of 130.78. In this case, the target is 131.16. In the area of 131.16 - 131.43 is consolidation. The breakdown of 131.45 will allow us to count on the movement to level 131.87. The potential value for the upside structure is the level of 132.08. Near this level, we expect consolidation, as well as a pullback to the bottom.
Short-term downward movement is possible in the area of 129.94 - 129.68. The breakdown of the latter value will lead to the development of a downward trend. Here, the first target is 129.29. In the area of 129.29 - 129.08 is the consolidation of the price. The break of level 129.05 should be accompanied by a pronounced movement to the level of 128.63.
The main trend is the formation of the potential for the top of September 6.
Trading recommendations:
Buy: 130.80 Take profit: 131.15
Buy: 131.45 Take profit: 131.85
Sell: 129.92 Take profit: 129.70
Sell: 129.64 Take profit: 129.35
For the GBP / JPY pair, the key levels on the scale of H1 are: 144.30, 143.53, 142.98, 142.23, 141.22, 140.45, 140.09 and 139.31. Here, the price forms a local structure for the top of September 5. At the moment, we expect the move to the level of 142.98. The breakdown of which will initiate the development of the upward trend in the scale of H1. Here, the target is 143.53. Near this level the consolidation of the price. We consider the level of 144.30 to be a potential value for the upward structure, from which we expect a pullback downwards.
At the moment the price is close to the key support for the upward structure - 141.22. The breakdown of this level will lead to a downward sequence. In this case, the target is 140.45. The range of 140.45 - 140.10 is noise. Before it, we expect the initial conditions to be formalized.
The main trend is the local upward structure of September 5.
Trading recommendations:
Buy: 142.25 Take profit: 142.94
Buy: 143.00 Take profit: 143.50
Sell: 141.15 Take profit: 140.45
Sell: 140.05 Take profit: 139.35
