Forecast for August 17:
Analytical overview of currency pairs on the H1 scale:
The key levels for the euro / dollar pair on the H1 scale are: 1.1963, 1.1924, 1.1897, 1.1842, 1.1816, 1.1775 and 1.1711. Here, we are following the upward structure of August 12. At the moment, we expect a movement to the level of 1.1897. Short-term upward movement, as well as consolidation are in the range of 1.1897 - 1.1924. For the potential value for the top, we consider the level of 1.1963. Upon reaching which, we expect a downward pullback.
A short-term downward movement is possible in the range of 1.1842 - 1.1816. The breakdown of the last value will lead to a deep correction. Here, the target is 1.1775. This is a key support level for the local upward structure of August 12 and its breakdown will dispose of the formation of a downward potential. In this case, the first target is 1.1711.
The main trend is the local upward structure of August 12
Trading recommendations:
Buy: 1.1853 Take profit: 1.1897
Buy: 1.1898 Take profit: 1.1922
Sell: 1.1842 Take profit: 1.1817
Sell: 1.1814 Take profit: 1.1777
The key levels for the pound / dollar pair on the H1 scale are: 1.3234, 1.3202, 1.3163, 1.3130, 1.3066, 1.3037, 1.2997, 1.2943 and 1.2873. Here, the price is in equilibrium with the downward trend from August 6 and the potential for a high from August 12. A short-term upward movement is possible in the range of 1.3130 - 1.3163. The breakdown of the last value will lead to a pronounced movement. Here, the target is 1.3202. For the potential value for the top, we consider the level of 1.3234. Upon reaching which, we expect consolidation, as well as a downward pullback.
A short-term downward movement is possible in the range 1.30.66 - 1.3037. The breakdown of the last value will lead to the development of a downward trend. In this case, the first target is 1.2997.
The main trend is an equilibrium situation
Trading recommendations:
Buy: 1.3130 Take profit: 1.3161
Buy: 1.3164 Take profit: 1.3200
Sell: 1.3066 Take profit: 1.3038
Sell: 1.3035 Take profit: 1.2998
The key levels for the dollar / franc pair on the H1 scale are: 0.9308, 0.9268, 0.9240, 0.9199, 0.9150, 0.9127, 0.9090, 0.9060, 0.9021 and 0.8994. Here, we are following the downward structure from August 12th. A short-term downward movement is possible in the range of 0.9090 - 0.9060. The breakdown of the last value will lead to a pronounced downward movement. Here, the target is 0.9021. For the potential value for the bottom, we consider the level of 0.8994. Upon reaching which, we expect consolidation, as well as an upward pullback.
A short-term upward movement is possible in the range of 0.9127 - 0.9150. The breakdown of the last value will encourage the formation of an upward structure. Here, the first potential target is 0.9199. This is a key resistance level for the top.
The main trend is the descending structure from August 12
Trading recommendations:
Buy : 0.9127 Take profit: 0.9150
Buy : 0.9153 Take profit: 0.9195
Sell: 0.9090 Take profit: 0.9062
Sell: 0.9058 Take profit: 0.9021
The key levels for the dollar / yen pair on the scale are : 109.06, 108.70, 107.99, 107.51, 106.79, 106.43, 105.93 and 105.33. Here, we are following the development of the July 31 upward cycle. At the moment, we expect a movement to the level of 107.51. Short-term upward movement, as well as consolidation are in the range of 107.51 - 107.99. The breakdown of the level 108.00 will lead to a pronounced upward movement. Here, the target is 108.70. We consider the level of 109.06 as a potential value for the top. Upon reaching which, we expect consolidation, as well as a downward pullback.
A short-term downward movement is possible in the range of 106.43 - 105.93. The breakdown of the last value will encourage the development of a downward structure. In this case, the potential target is 105.33.
The main trend is the upward cycle from July 31, correction stage
Trading recommendations:
Buy: 106.95 Take profit: 107.50
Buy : 107.53 Take profit: 107.95
Sell: 106.40 Take profit: 106.00
Sell: 105.93 Take profit: 105.35
The key levels for the Canadian dollar / US dollar pair on the H1 scale are: 1.3318, 1.3271, 1.3239, 1.3176, 1.3143, 1.3096, 1.3061 and 1.3006. Here, we are following the development of the downward structure from August 7th. A short-term downward movement is expected in the range of 1.3176 - 1.3143. The breakdown of the last value will lead to a pronounced downward movement. Here, the target is 1.3096. Price consolidation is in the range of 1.3096 - 1.3061. We consider the level of 1.3006 as a potential value for the bottom. Upon reaching which, we expect consolidation, as well as an upward pullback.
A consolidated movement is possible in the range of 1.3239 - 1.3271. The breakdown of the last value will lead to a deep correction. Here, the target is 1.3318. This is the key support level for the downward structure.
The main trend is the descending structure from August 7
Trading recommendations:
Buy: 1.3240 Take profit: 1.3270
Buy : 1.3273 Take profit: 1.3318
Sell: 1.3174 Take profit: 1.3144
Sell: 1.3142 Take profit: 1.3096
The key levels for the Australian dollar / US dollar pair on the H1 scale are : 0.7247, 0.7196, 0.7157, 0.7135, 0.7108, 0.7071, 0.7044, 0.7008 and 0.6984. Here, we are following the development of the descending structure from August 6th. The continuation of the downward movement is expected after the breakdown of the level of 0.7108. In this case, the target is 0.7071. Price consolidation is in the range of 0.7071 - 0.7044. For the potential value for the bottom, we consider the level of 0.6984. Upon reaching which, we expect a consolidated movement in the range of 0.7008 - 0.6984, as well as an upward pullback.
The level 0.7196 is the key support for the bottom and its breakdown will lead to the development of an upward structure. Here, the first potential target is 0.7229. There is consolidation in the range of 0.7229 - 0.7247. A short-term downward movement is possible in the range of 0.7157 - 0.7135. The breakdown of the last value will encourage the development of the main structure. In this case, the first target is 0.7108.
The main trend is the descending structure from August 6, the stage of correction
Trading recommendations:
Buy: 0.7196 Take profit: 0.7229
Buy: Take profit:
Sell : 0.7157 Take profit : 0.7135
Sell: 0.7133 Take profit: 0.7108
The key levels for the euro / yen pair on the H1 scale are: 127.36, 127.09, 126.63, 126.32, 125.80, 125.49 and 125.11. Here, we are following the rising structure of August 10. A short-term upward movement is expected in the range 126.32 - 126.63. The breakdown of the last value will lead to a pronounced upward movement. Here, the target is 127.09. We consider the level of 127.36 as a potential value for the top. Upon reaching which, we expect consolidation, as well as a downward pullback.
A short-term downward movement is expected in the range 125.80 - 125.49. The breakdown of the last value will lead to a deep correction. Here, the target is 125.11. This is a key support level for the top.
The main trend is the upward cycle of August 10
Trading recommendations:
Buy: 126.32 Take profit: 126.60
Buy: 126.65 Take profit: 127.09
Sell: 125.80 Take profit: 125.50
Sell: 125.47 Take profit: 125.14
The key levels for the pound / yen pair on the H1 scale are : 141.78, 141.13, 140.71, 140.09, 139.35, 138.86, 138.45 and 137.79. Here, we are following the rising structure on August 7. The continuation of the upward movement is expected after the breakdown of the level of 140.09. In this case, the target is 140.71. Price consolidation is in the range of 140.71 - 141.13. For the potential value for the top, we consider the level of 141.78. Upon reaching which, we expect consolidation, as well as a downward pullback.
A short-term downward movement is possible in the range of 139.35 - 138.86. The breakdown of the last value will lead to a deep correction. Here, the target is 138.45. There is consolidation near this level. For the potential value for the downward structure, we consider the level of 137.79, up to which we expect the initial conditions to be formalized.
The main trend is the local structure for the top from August 7
Trading recommendations:
Buy: 140.10 Take profit: 140.70
Buy: 140.72 Take profit: 141.10
Sell: 139.32 Take profit: 138.86
Sell: 138.84 Take profit: 138.47