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MT5.com - Fractal analysis of major currency pairs for May 14

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Forex Analysis:::2019-05-14

Fractal analysis of major currency pairs for May 14

Forecast for May 14:

Analytical review of H1-scale currency pairs:

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For the euro / dollar pair, the key levels on the H1 scale are: 1.1317, 1.1300, 1.1271, 1.1256, 1.1222, 1.1206 and 1.1184. Here, we continue to monitor the local structure for the top of May 3rd. Short-term upward movement is expected in the range of 1.1256 - 1.1271. The breakdown of the last value should be accompanied by a pronounced upward movement. Here, the target level is 1.1300. We consider the level of 1.1317 to be a potential value for the top. Upon reaching this level, we expect consolidation, as well as a rollback to the bottom.

Short-term downward movement is possible in the range of 1.1222 - 1.1206. The breakdown of the latter value will lead to a prolonged correction. Here, the target level is 1.1184. This level is a key support for the top.

The main trend is a local ascending structure of May 3rd.

Trading recommendations:

Buy 1.1256 Take profit: 1.1270

Buy 1.1272 Take profit: 1.1300

Sell: 1.1222 Take profit: 1.1206

Sell: 1.1204 Take profit: 1.1186

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For the pound / dollar pair, the key levels on the H1 scale are: 1.3045, 1.3005, 1.2981, 1.2946, 1.2927, 1.2882 and 1.2845. Here, we continue to follow the development of the downward structure from May 3. The continuation of the movement to the bottom is expected after the passage the price of the noise range 1.2946 - 1.2927. In this case, the goal is 1.2882, wherein consolidation is near this level. For the potential value for the bottom, we consider the level of 1.2845. After reaching which, we expect a rollback to the top.

Short-term upward movement is possible in the range of 1.2981 - 1.3005. Breaking the last value will lead to a prolonged correction. Here, the target level is 1.3045. This level is a key support for the downward structure.

The main trend is the downward cycle of May 3rd.

Trading recommendations:

Buy: 1.2981 Take profit: 1.3004

Buy: 1.3007 Take profit: 1.3045

Sell: 1.2925 Take profit: 1.2884

Sell: 1.2880 Take profit: 1.2847

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For the dollar / franc pair, the key levels on the H1 scale are: 1.0124, 1.0095, 1.0075, 1.0045, 1.0017 and 0.9981. Here, we are following the development of the downward structure of May 7th. For the continuation of the movement to the bottom, we expect after the breakdown of the level of 1.0017. In this case, the goal is 0.9981. Upon reaching this level, we expect a rollback to the top.

Short-term upward movement is possible in the range of 1.0075 - 1.0095. The breakdown of the latter value will lead to a prolonged movement. Here, the target level is 1.0124. This level is a key support for the downward structure.

The main trend is the downward structure of May 7.

Trading recommendations:

Buy : 1.0075 Take profit: 1.0093

Buy : 1.0097 Take profit: 1.0124

Sell: 1.0045 Take profit: 1.0017

Sell: 1.0015 Take profit: 0.9988

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For the dollar / yen pair, the key levels on the scale are : 110.17, 109.92, 109.70, 109.46, 109.01, 108.77 and 108.30. Here, we are following the local downward structure of May 3rd. Short-term downward movement is expected in the range of 109.01 - 108.77. The breakdown of the last value will allow to expect movement towards the potential target - 108.30, after reaching which, we expect a rollback to the top.

Short-term uptrend is possible in the range of 109.46 - 109.70. The breakdown of the latter value will lead to a prolonged correction. Here, the target level is 109.92. This level is a key support for the downward structure of May 3. Its price will have the formation of the initial conditions for the upward cycle. In this case, the potential target is the level of 110.17.

The main trend: a local downward structure of May 3.

Trading recommendations:

Buy: 109.48 Take profit: 109.70

Buy: 109.72 Take profit: 109.90

Sell: 109.00 Take profit: 108.80

Sell: 108.75 Take profit: 108.36

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For the Canadian dollar / US dollar pair, the key levels on the H1 scale are: 1.3568, 1.3526, 1.3511, 1.3493, 1.3451, 1.3434, 1.3415 and 1.3378. Here, we are following the formation of the ascending structure of May 10. Continuation of the movement to the top is expected after the breakdown of the level of 1.3493. In this case, the target level is 1.3511, wherein consolidation is near this level. The price pass of the noise range 1.3511 - 1.3526 should be accompanied by a pronounced upward movement to the potential target - 1.3568. From this level, we expect a rollback to the bottom.

Short-term downward movement is possible in the range of 1.3451 - 1.3434. The breakdown of the latter value will lead to a prolonged correction. Here, the target level is 1.3415. This level is a key support for the top.

The main trend is the formation of the ascending structure of May 10.

Trading recommendations:

Buy: 1.3493 Take profit: 1.3510

Buy : 1.3526 Take profit: 1.3566

Sell: 1.3450 Take profit: 1.3436

Sell: 1.3433 Take profit: 1.3417

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For the Australian dollar / US dollar pair, the key levels on the H1 scale are : 0.6986, 0.6968, 0.6959, 0.6937, 0.6928, 0.6916 and 0.6894. Here, we are following the development of the downward structure of May 7th. Short-term downward movement is expected in the range of 0.6937 - 0.6928. The breakdown of the latter value will lead to the movement to the level of 0.6916, near which, we expect a consolidation. For the potential value for the downward trend, we consider the level of 0.6894. Upon reaching this level, we expect a departure to the correction.

Short-term upward movement is possible in the range of 0.6959 - 0.6968. The breakdown of the latter value will have to form an upward structure. In this case, the potential target is the level of 0.6986.

The main trend is the downward structure of May 7.

Trading recommendations:

Buy: 0.6960 Take profit: 0.6968

Buy: 0.6970 Take profit: 0.6984

Sell : 0.6936 Take profit : 0.6928

Sell: 0.6926 Take profit: 0.6916

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For the euro / yen pair, the key levels on the H1 scale are: 123.93, 123.59, 123.26, 123.05, 122.50, 122.32 and 121.92. Here, the subsequent targets for the downward movement we determined from the local structure on May 10. Continuation of the movement to the bottom is expected after the price passes the noise range 122.50 - 122.32. In this case, the first potential target is the level of 121.92.

Short-term upward movement is expected in the range of 123.05 - 123.26. The breakdown of the last value will have to form an upward structure. In this case, the first target is 123.59. We consider the level of 123.93 to be a potential value for the top, to which we expect the registration of the expressed initial conditions.

The main trend is the local downward structure of May 10.

Trading recommendations:

Buy: 123.05 Take profit: 123.24

Buy: 123.28 Take profit: 123.59

Sell: 122.30 Take profit: 121.94

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For the pound / yen pair, the key levels on the H1 scale are : 143.36, 142.85, 142.18, 141.24, 140.86 and 139.88. Here, the price is near the limit values for the downward structure, and therefore, we expect a correction to depart, after the breakdown of the level of 142.18. In this case, the target level is 142.85. For the potential value for the top, we consider the level of 143.36, to which, we expect the registration of the expressed initial conditions.

Short-term downward movement is possible in the range of 141.24-140.86. The breakdown of the latter value should be accompanied by an unstable downward movement. Here, the potential target is the level of 139.88, however, it is necessary to take into account the high probability of a premature price reversal to the correction area.

The main trend is the downward cycle of May 3, we expect to go into a correction.

Trading recommendations:

Buy: 142.20 Take profit: 142.85

Buy: 142.87 Take profit: 143.30

Sell: 141.24 Take profit: 140.88

Sell: 140.82 Take profit: 139.90

photo
Daichi Takahashi
Analyst InstaForex
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