FX.co ★ Fractal analysis of the main currency pairs for May 28

Dear colleagues.

For the EUR / USD pair, we continue to move downwards after the breakdown of 1.1684. We consider the movement upward as a correction. For the GBP / USD pair, we continue to move downwards after the breakdown of 1.3285. For the USD / CHF pair, we continue to move downwards after the next breakdown of 0.9915. For the USD / JPY pair, the price is still in the zone of initial conditions for the downward movement of May 21. For the EUR / JPY pair, the continuation of the movement downwards is expected after the breakdown of 127.50. For the GBP / JPY pair, we expect movement towards the level of 144.90.

Forecast for May 28:

Analytical review of currency pairs in the scale of H1:

For the EUR / USD pair, the key levels on the scale of H1 are: 1.1835, 1.1807, 1.1768, 1.1735, 1.1684, 1.1640 and 1.1575. Here, the continuation of the downward movement is expected after the breakdown of 1.1684. In this case, the target is 1.1640. At this level, we expect the consolidation of the price. Passing the price should be accompanied by a pronounced movement towards the potential target of 1.1575.

Short-term upward movement is possible in the area of 1.1735-1.1768. The breakdown of the last value will lead to in-depth correction. Here, the target is 1.1807. The range of 1.1807-1.1835 is the key support for the downward trend. Before reaching this level, we expect the initial conditions for the top to be formalized.

The main trend is the local structure for the bottom of May 14.

Trading recommendations:

Buy: 1.1735 Take profit: 1.1765

Buy 1.1770 Take profit: 1.1807

Sell: 1.1682 Take profit: 1.1642

Sell: 1.1638 Take profit: 1.1577

For the GBP / USD pair, the key levels on the scale of H1 are 1.3462, 1.3415, 1.3388, 1.3326, 1.3285, 1.3229 and 1.3195. Here, we continue to follow the downward structure from May 14. At the moment, the price is in correction. The continuation of the downward movement is expected after the breakdown of 1.3326. In this case, the target is 1.3285. In the area of 1.3326 - 1.3285 is the consolidation of the price. We consider the level of 1.3195 to be a potential value for the downward trend. After reaching this level, we expect consolidated movement in the range of 1.3229 - 1.3195, as well as a rollback to the top.

Short-term uptrend is possible in the area of 1.3388 - 1.3415. The breakdown of the last value will lead to in-depth correction. Here, the target is 1.3462. This level is the key support for the downward structure.

The main trend is the downward cycle from May 14, the correction stage.

Trading recommendations:

Buy: 1.3388 Take profit: 1.3415

Buy: 1.3417 Take profit: 1.3460

Sell: 1.3324 Take profit: 1.3287

Sell: 1.3283 Take profit: 1.3230

For the of USD / CHF pair, the key levels in the scale of H1 are: 0.9996, 0.9965, 0.9950, 0.9915, 0.9881, 0.9854 and 0.9820. Here, we continue to follow the downward cycle from May 10. At the moment, the price is in correction. The continuation of the downward movement is expected after the breakdown of 0.9915. In this case, the target is 0.9881. In the area of 0.9881 - 0.9854 is short-term downward movement, as well as the consolidation of the price. The potential value for the bottom is the level of 0.9820. Upon reaching this level, we expect a rollback to the top.

Short-term upward movement is possible in the area of 0.9950 - 0.9965. The breakdown of the last value will lead to in-depth correction. Here, the target is 0.9996. This level is the key support for the downward structure.

The main trend is the downward structure from May 10, the correction stage.

Trading recommendations:

Buy: 0.9950 Take profit: 0.9964

Buy: 0.9967 Take profit: 0.9992

Sell: 0.9913 Take profit: 0.9883

Sell: 0.9878 Take profit: 0.9855

For the USD / JPY pair, the key levels on a scale are: 110.70, 110.26, 109.98, 109.42, 109.09, 108.84 and 108.14. Here, the price forms the initial conditions for the downward cycle from May 21. The continuation of the downward movement is expected after the breakdown of 109.40. In this case, the target is 109.09. Near this level is the consolidation of the price. Passing the price of the noise range at 109.09 - 108.84 should be accompanied by a pronounced downward movement. Here, the target is 108.14.

Short-term upward movement is possible in the area of 109.98 - 110.26. The breakdown of the last value will lead to in-depth correction. Here, the target is 110.70. This level is the key support for the downward structure from May 21.

The main trend is the formation of initial conditions for the downward movement of May 21.

Trading recommendations:

Buy: 109.98 Take profit: 110.24

Buy: 110.28 Take profit: 110.70

Sell: 109.40 Take profit: 109.10

Sell: 108.82 Take profit: 108.16

For the CAD / USD pair, the key levels on the H1 scale are: 1.3159, 1.3093, 1.3049, 1.2984, 1.2922, 1.2853, 1.2809 and 1.2731. Here, the price formalized the initial conditions for the upward cycle of May 22. The continuation of the upward movement is expected after the breakdown of 1.2922. In this case, the target is 1.2984. Near this level is the consolidation of the price. The breakdown of 1.2984 should be accompanied by a pronounced movement towards the level of 1.3093. In the area of 1.3093 - 1.3049 is the consolidation of the price. The potential value for the top is the level of 1.3159. Upon reaching this level, we expect a pullback downwards.

Short-term downward movement is possible in the range 1.2853 - 1.2809, hence the probability of a turn up is high. The breakdown of the level of 1.2809 will lead a downward cycle. Here, the potential target is 1.2731.

The main trend is the initial conditions for the top of May 22.

Trading recommendations:

Buy: 1.2922 Take profit: 1.2982

Buy: 1.2986 Take profit: 1.3047

Sell: 1.2851 Take profit: 1.2810

Sell: 1.2806 Take profit: 1.2731

For the AUD / USD pair, the key levels on the scale of H1 are: 0.7711, 0.7687, 0.7650, 0.7622, 0.7557, 0.7534 and 0.7496. Here, we follow the upward cycle from May 15. At the moment, the price is in correction. The continuation of the upward movement is expected after the breakdown of 0.7590. Here, the first target is 0.7622. In the area of 0.7622 - 0.7650 is short-term upward movement, as well as the consolidation of the price. The breakdown at the level of 0.7650 should be accompanied by a pronounced upward movement towards the level of 0.7687. The potential value for the top is the level of 0.7711. Upon reaching this level, we expect a pullback downwards.

Short-term downward movement is possible in the area of 0.7557 - 0.7534. The breakdown of the last value will lead to in-depth correction. Here, the target is 0.7496. This level is the key support for the upward trend.

The main trend is the local upward structure of May 15.

Trading recommendations:

Buy: 0.7590 Take profit: 0.7620

Buy: 0.7624 Take profit: 0.7650

Sell: 0.7555 Take profit: 0.7536

Sell: 0.7532 Take profit: 0.7500

For the EUR / JPY pair, the key levels on the scale of H1 are: 130.15, 129.47, 128.95, 127.96, 127.52, 127.03 and 125.87. Here, the price forms a downward structure from May 22. Short-term downward movement is expected in the area of 127.96 - 127.52. The breakdown of the last value will lead to a movement towards the level of 127.03. Expressed development of traffic is expected after the breakdown of 127.00. Here, the potential target is 125.87. Near this level, we expect is the consolidation of the price.

Short-term upward movement is possible in the area of 128.95 - 129.47. The breakdown of the last value will lead to in-depth correction. Here, the target is 130.15. This level is the key support for the downward structure from May 22.

The main trend is the formation of a downward structure from May 22.

Trading recommendations:

Buy: 128.95 Take profit: 129.45

Buy: 129.50 Take profit: 130.15

Sell: 127.50 Take profit: 127.05

Sell: 127.00 Take profit: 125.90

For the GBP / JPY pair, the key levels on the scale of H1 are: 148.35, 147.50, 146.82, 145.89, 144.89, 144.29 and 142.73. Here, we follow the formation of the local downward structure of May 18. The continuation of the movement downwards is expected after the breakdown of 145.89. In this case, the target is 144.89. Near this level is the consolidation of the price. Passing the price of the noise range of 144.89 - 144.29 should be accompanied by a pronounced movement towards the potential target of 142.73. From this level, we expect a rollback upward.

Short-term upward movement is possible in the area of 146.82 - 147.50. The breakdown of the last value will lead to in-depth correction. Here, the target is 148.35. This level is the key support for the downward structure from May 18.

The main trend is the formation of a local structure for the bottom of May 18.

Trading recommendations:

Buy: 146.82 Take profit: 147.50

Buy: 147.55 Take profit: 148.35

Sell: 145.85 Take profit: 144.90

Sell: 144.25 Take profit: 142.90