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FX.co ★ Fractal analysis for major currency pairs on September 18

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Forex Analysis:::2020-09-18

Fractal analysis for major currency pairs on September 18

Outlook on September 18:

Analytical overview of currency pairs on the H1 scale:

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The key levels for the euro/dollar pair on the H1 chart are: 1.1988, 1.1954, 1.1908, 1.1871, 1.1834, 1.1813, 1.1786 and 1.1739. We are observing the formation of the potential for the upward movement from September 17. The growth is expected to continue after the breakdown of 1.1871. In this case, the target is 1.1908. There is consolidation near this level. Now, if the target breaks down, it will lead to the development of a strong upward movement. The next target is 1.1954. For the potential value for the top, we consider the level of 1.1988. Upon reaching which, we expect consolidation and downward pullback.

A short-term downward movement is possible in the range of 1.1834 - 1.1813. If the last value breaks down, it will lead to a deep correction. The target here is 1.1786, which is a key support for the upward structure.

The main trend is the formation of potential for the top from September 17

Trading recommendations:

Buy: 1.1871 Take profit: 1.1906

Buy: 1.1910 Take profit: 1.1954

Sell: 1.1834 Take profit: 1.1815

Sell: 1.1811 Take profit: 1.1788

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The key levels for the pound/dollar pair are 1.3174, 1.3140, 1.3079, 1.3034, 1.2979, 1.2903, 1.2857 and 1.2758. We are following the upward structure from September 11. The upward movement is expected to continue after the breakdown of 1.2979. In this case, the target is 1.3034. There is a short-term upward movement and consolidation in the range of 1.3034 - 1.3079. Now, if the level of 1.3080 breaks down, it will lead to a strong upward movement. The target here is 1.3140. For the potential value for the top, we consider the level of 1.3174. Upon reaching which, we expect consolidation and a downward pullback.

A short-term downward movement is expected in the range of 1.2903 - 1.2857. If the last value breaks down, it will favor the development of a downward structure. In this case, the potential target is 1.2758.

The main trend is the upward structure from September 11

Trading recommendations:

Buy: 1.2980 Take profit: 1.3034

Buy: 1.3035 Take profit: 1.3077

Sell: 1.2903 Take profit: 1.2858

Sell: 1.2855 Take profit: 1.2760

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The key levels for the dollar/franc pair are 0.9170, 0.9138, 0.9115, 0.9099, 0.9072, 0.9051, 0.9027, 0.9011 and 0.8987. The price is almost cancelling the upward structure from September 16, for which it is necessary to break through the level of 0.9072. In this case, the first target is 0.9051, breaking through this target will lead to a strong downward movement. The target here is 0.9027, while price consolidation is in the range of 0.9027 - 0.9011. For the potential value for the bottom, we consider the level of 0.8987, from which an upward pullback is expected.

A short-term upward movement is possible in the range of 0.9099 - 0..9115. If the last value breaks down, it will favor the development of an upward structure from September 16. In this case, the first target is 0.9138. At the moment, we consider the level of 0.9170 as a potential value for the top.

The main trend is the formation of potential for the top of September 16, the deep correction stage.

Trading recommendations:

Buy : 0.9100 Take profit: 0.9115

Buy : 0.9117 Take profit: 0.9138

Sell: 0.9072 Take profit: 0.9052

Sell: 0.9049 Take profit: 0.9028

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The key levels for the dollar/yen are 105.56, 105.26, 105.09, 104.86, 104.47, 104.34, 104.09 and 103.86. We are following the development of the downtrend cycle on September 4. On the other hand, the downward movement is expected to continue after the price passes the noise range 104.47 - 104.34. In this case, the target is 104.09. For the potential value for the bottom, we consider the level 103.86. Upon reaching which, we expect an upward pullback.

Now, it is possible to leave a correction after the breakdown of 104.86. In this case, the target is 105.09. The key support for the downward structure is the range of 105.09 - 105.26 and the price passing this level will encourage the formation of initial conditions for the upward cycle. Here, the potential target is 105.56.

The main trend is the descending structure from September 4.

Trading recommendations:

Buy: 104.88 Take profit: 105.09

Buy : 105.27 Take profit: 105.52

Sell: 104.34 Take profit: 104.10

Sell: 104.07 Take profit: 103.88

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The key levels for the USD/CAD pair are 1.3248, 1.3205, 1.3182, 1.3127, 1.3095, 1.3053, 1.3023, 1.2984 and 1.2959. The price here is forming a local potential for the downward movement from September 17th. Meanwhile, a short-term downward movement is expected in the range of 1.3127 - 1.3095. If the last value breaks down, it will lead to a strong downward movement. The target here is 1.3053. On the other hand, there is a short-term downward movement and consolidation in the range of 1.3053 - 1.3023. Breaking through the last value should be accompanied by a strong downward movement. The target here is 1.2984. In turn, a key reversal into the correction is expected from the range 1.2984 - 1.2959.

A short-term upward movement is possible in the range of 1.3182 - 1.3205. If the last value breaks down, it will encourage the development of an upward trend. In this case, the first potential target is 1.3248.

The main trend is the local descending structure of September 17

Trading recommendations:

Buy: 1.3182 Take profit: 1.3203

Buy : 1.3207 Take profit: 1.3248

Sell: 1.3127 Take profit: 1.3095

Sell: 1.3093 Take profit: 1.3055

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The key levels for the AUD/USD pair are 0.7423, 0.7389, 0.7362, 0.7326, 0.7268, 0.7254 and 0.7196. Here, we are following the upward cycle of September 9th. The growth is expected to continue after the breakdown of the level of 0.7326. In this case, the target is 0.7362. There is a short-term upward movement and consolidation in the range of 0.7362 - 0.7389. On the other hand, we consider the level of 0.7423 as a potential value for the top. Upon reaching which, we expect consolidation and a downward pullback.

The range of 0.7268 - 0.7254 is the key support for the top and the price passing this level will encourage the development of a downward trend. In this case, the potential target is 0.7196.

The main trend is the upward structure from September 9, the correction stage

Trading recommendations:

Buy: 0.7328 Take profit: 0.7360

Buy: 0.7363 Take profit: 0.7387

Sell : Take profit :

Sell: 0.7252 Take profit: 0.7200

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The key levels for the euro/yen pair are 125.25, 125.00, 124.62, 124.32, 123.84, 123.62, 123.26, 122.90 and 122.49. The development of the downtrend cycle from September 10 is being followed here. At the moment, the price is in a correction and forms a potential for the top of September 17. Meanwhile, a short-term upward movement is expected in the range of 124.32 - 124.62. In case that the last value breaks down, it will lead to a strong development of the structure. In this case, the target is 125.00. We expect large initial conditions for the upward cycle to be formed up to the range of 125.00-125.25.

A short-term downward movement is expected in the corridor 123.84 - 123.62, a breakdown of the last value will favor the development of a downward movement, here the first target is 123.26. A short-term downward movement is expected in the range 123.26 - 122.90, a breakdown of the last value will allow us to count on a movement to a potential value of 122.49.

The main trend is the downward cycle from September 10, the correction stage

Trading recommendations:

Buy: 124.32 Take profit: 124.60

Buy: 124.64 Take profit: 125.00

Sell: 123.60 Take profit: 123.26

Sell: 123.24 Take profit: 122.90

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The key levels for the pound/yen pair are 138.34, 137.59, 137.11, 136.49, 135.41, 134.59, 133.63 and 132.97. We are following the local descending structure from September 10 here. Now, a short-term downward movement is expected in the range of 135.41 - 134.59. If the last value breaks down, it will lead to a strong movement. Here, the target is 133.63. For the potential value for the bottom, we consider the level of 132.97. Upon reaching which, we expect consolidation and upward pullback.

A short-term upward movement is expected in the range of 136.49 - 137.11. The range of 137.11 - 137.59 is the key support for the downward structure and the price passing this level will encourage the formation of initial conditions for the top. Here, the potential target is 138.34.

The main trend is the local descending structure of September 10

Trading recommendations:

Buy: 136.50 Take profit: 137.10

Buy: 137.60 Take profit: 138.34

Sell: 135.40 Take profit: 134.60

Sell: 134.55 Take profit: 133.65

Daichi Takahashi
Analyst InstaForex
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