Fractal analysis of major currency pairs on May 30


Forecast for May 30:

Analytical review of H1-scale currency pairs:

For the euro / dollar pair, the key levels on the H1 scale are: 1.1171, 1.1157, 1.1146, 1.1123, 1.1115, 1.1099, 1.1080 and 1.1067. Here, we are following the development of the downward structure of May 27. Continuation of the movement to the bottom is expected after the price passes the noise range 1.1123 – 1.1115. In this case, the target is 1.1099, wherein price consolidation is near this level. The breakdown of the level of 1.1099 will lead to a movement to the level of 1.1080. For the potential value for the bottom, we consider the level of 1.1067. Upon reaching which, we expect a consolidation in the corridor of 1.1080 – 1.1067.

Short-term upward movement is possible in the range of 1.1146 – 1.1157. The breakdown of the last value will lead to a prolonged correction. Here, the target is 1.1171. This level is a key support for the bottom.

The main trend is the downward structure of May 27.

Trading recommendations:

Buy 1.1146 Take profit: 1.1156

Buy 1.1158 Take profit: 1.1170

Sell: 1.1115 Take profit: 1.1100

Sell: 1.1097 Take profit: 1.1083

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For the pound / dollar pair, the key levels on the H1 scale are: 1.2811, 1.2737, 1.2693, 1.2612, 1.2553, 1.2478 and 1.2428. Here, we mainly expect the development of a downward local structure of May 21. Continuation of the movement to the bottom is expected after the breakdown of 1.2612. Here, the target is -1.2553. The breakdown of which must be accompanied by a pronounced downward movement. In this case, the target is 1.2478. We consider the level of 1.2428 to be a potential value for the bottom. Upon reaching this level, we expect a consolidation in the range of 1.2478 – 1.2428, as well as a departure to a correction.

Short-term upward movement is possible in the range of 1.2693 – 1.2737. The breakdown of the latter value will have to form an upward movement. Here, the target is 1.2811.

The main trend is the downward structure of May 21.

Trading recommendations:

Buy: 1.2693 Take profit: 1.2735

Buy: 1.2738 Take profit: 1.2810

Sell: 1.2612 Take profit: 1.2555

Sell: 1.2550 Take profit: 1.2478

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For the dollar / franc pair, the key levels on the H1 scale are: 1.0137, 1.0118, 1.0094, 1.0082, 1.0057, 1.0048 and 1.0034. Here, we are following the development of the ascending structure of May 24. Short-term upward movement is expected in the range of 1.0082 – 1.0094. The breakdown of the last value should be accompanied by a pronounced upward movement. In this case, the target is 1.0118. For the potential value for the top, we consider the level of 1.0137. The movement to which is expected after the breakdown of 1.0120.

Short-term downward movement is possible in the range of 1.0057 – 1.0048. The breakdown of the last value will lead to a prolonged correction. Here, the goal is 1.0034. This level is a key support for the upward structure.

The main trend is the ascending structure of May 24.

Trading recommendations:

Buy : 1.0082 Take profit: 1.0094

Buy : 1.0096 Take profit: 1.0118

Sell: 1.0057 Take profit: 1.0048

Sell: 1.0046 Take profit: 1.0036

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For the dollar / yen pair, the key levels on the scale are : 110.21, 109.94, 109.73, 109.36, 109.14, 108.98 and 108.51. Here, the price forms the medium-term initial conditions for the downward cycle of May 21. Continuation of the movement to the bottom is expected after the breakdown 109.36. In this case, the goal is 109.14, wherein consolidation is near this level. The price pass of the noise range of 109.14 – 108.98 should be accompanied by a pronounced downward movement. Here, the goal is 108.51, wherein near this level, we expect a consolidation and possible rollback to the correction.

Short-term upward movement is possible in the range of 109.73 – 109.94. The breakdown of the latter value will lead to in-depth correction. Here, the goal is 110.21. This level is a key support for the downward cycle.

The main trend: the formation of medium-term initial conditions for the downward cycle of May 21.

Trading recommendations:

Buy: 109.73 Take profit: 109.92

Buy: 109.95 Take profit: 110.20

Sell: 109.36 Take profit: 109.15

Sell: 108.98 Take profit: 108.51

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For the Canadian dollar / US dollar pair, the key levels on the H1 scale are: 1.3651, 1.3611, 1.3556, 1.3491, 1.3464 and 1.3428. Here, we continue to follow the development of the ascending structure of May 22. Short-term upward movement is expected in the range of 1.3534 – 1.3556. The breakdown of the last value should be accompanied by a pronounced upward movement. In this case, the target is 1.3611. For the potential value for the top, we consider the level of 1.3651. After reaching which, we expect to go into correction.

Short-term downward movement is possible in the range of 1.3491 – 1.3464. The breakdown of the latter value will lead to a prolonged correction. Here, the target is 1.3428. This level is a key support for the top.

The main trend is the upward cycle of May 22.

Trading recommendations:

Buy: 1.3534 Take profit: 1.3555

Buy : 1.3558 Take profit: 1.3610

Sell: 1.3490 Take profit: 1.3466

Sell: 1.3462 Take profit: 1.3433

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For the Australian dollar / US dollar pair, the key levels on the H1 scale are : 0.7013, 0.6994, 0.6965, 0.6955, 0.6941, 0.6910, 0.6897, 0.6882 and 0.6863. Here, the price forms the expressed initial conditions for the top of May 23. Continuation of the movement to the top is expected after the breakdown of 0.6941. Here, the first goal is 0.6955, wherein near this level is a price consolidation. The price passage of the noise range of 0.6955 – 0.6965 should be accompanied by a pronounced upward movement. In this case, the target is 0.6994. For the potential value for the top, we consider the level of 0.7013. After reaching which, we expect a rollback to the bottom.

Short-term downward movement is possible in the range of 0.6910 – 0.6897. The breakdown of the latter value will lead to a prolonged movement. Here, the target is 0.6882. This level is a key support for the upward structure.

The main trend is the formation of initial conditions for the top of May 23.

Trading recommendations:

Buy: 0.6941 Take profit: 0.6955

Buy: 0.6967 Take profit: 0.6992

Sell : 0.6910 Take profit : 0.6898

Sell: 0.6895 Take profit: 0.6884

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For the euro / yen pair, the key levels on the H1 scale are: 122.72, 122.42, 122.23, 121.76, 121.54, 120.96 and 120.59. Here, we are following the development of the mid-term downward structure of May 21. Short-term downward movement is expected in the range of 121.76 – 121.54. The breakdown of the last value should be accompanied by a pronounced downward movement. Here, the goal is 120.96. For the potential value for the bottom, we consider the level of 120.59. After reaching which, we expect a consolidation, as well as a rollback to the correction.

Short-term upward trend is possible in the range of 122.23 – 122.42. The breakdown of the last value will lead to a prolonged correction. Here, the goal is 122.72. This level is a key support for the downward structure. Before it, we expect clearance of the initial conditions for the top.

The main trend is a mid-term downward structure of May 21.

Trading recommendations:

Buy: 122.23 Take profit: 122.40

Buy: 122.44 Take profit: 122.70

Sell: 121.76 Take profit: 121.56

Sell: 121.50 Take profit: 121.00

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For the pound / yen pair, the key levels on the H1 scale are : 140.18, 139.63, 139.14, 138.76, 138.11, 137.49, 136.85 and 136.00. Here, we are following the development of the downward structure of May 21. Continuation of the movement to the bottom is expected after the breakdown of the level of 138.10. In this case, the goal is 137.49, wherein near which a price consolidation is possible. The breakdown of the level of 137.49 will allow us to count on a move to 136.85. From this level there is a high probability of going into a correction. For the potential value for the bottom, we consider the level of 136.00.

Short-term upward movement is possible in the range of 138.76 – 139.14. The breakdown of the latter value will lead to a prolonged correction. Here, the goal is 139.63. This level is a key support for the downward structure. Its price will have the formation of the initial conditions for the upward movement. In this case, the potential target is 140.18.

The main trend is a local downward structure of May 21.

Trading recommendations:

Buy: 138.76 Take profit: 139.12

Buy: 139.16 Take profit: 139.60

Sell: 138.10 Take profit: 137.55

Sell: 137.46 Take profit: 136.90

The material has been provided by InstaForex Company – www.instaforex.com
2019-05-30 01:21:48



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