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Fractal analysis of the main currency pairs for May 11

Dear colleagues.

For the EUR / USD pair, we follow the formation of the initial conditions for the top of May 9. For the GBP / USD pair, we expect a correction to take place after the breakdown at 1.3614. For the of USD / CHF pair, we follow the formation of the downward structure from May 10. The potential for the top is limited by the level of 1.0056. For the USD / JPY pair, the continuation of the upward movement is expected after the breakdown of 109.96. For the EUR / JPY pair, the price is in correction and forms the potential for the top of May 8. For the GBP / JPY pair, the price forms the potential for the top of May 8.

The forecast for May 11:

Analytical review of currency pairs in the scale of H1:

For the EUR / USD pair, the key levels on the scale of H1 are: 1.2060, 1.2031, 1.1985, 1.1947, 1.1894, 1.1867 and 1.1822. Here, the price forms the potential initial conditions for the top of May 9. The continuation of the upward movement is expected after the breakdown of 1.1947. In this case, the target is 1.1985. Near this level is the consolidation of the price. The breakdown at the level of 1.1985 should be accompanied by a pronounced movement towards the level of 1.2031. Upon the reaching this level, we expect the consolidation of the price. The potential value for the top is the level of 1.2060.

Short-term downward movement is possible in the area of 1.1894-1.1867. The breakdown of the last value will lead to the development of the the downward structure. In this case, the target is 1.1822.

The main trend is the formation of the upward potential of May 9.

Trading recommendations:

Buy: 1.1947 Take profit: 1.1983

Buy 1.1987 Take profit: 1.2030

Sell: 1.1892 Take profit: 1.1870

Sell: 1.1864 Take profit: 1.1825

For the GBP / USD pair, the key levels on the scale of H1 are 1.3847, 1.3752, 1.3684, 1.3614, 1.3614 and 1.3482. Here, we expect a move towards correction. The upward movement is expected after the breakdown of 1.3614. In this case, the target is 1.3684. Short-term upward movement is possible in the area of 1.3684 - 1.3752. The breakdown of the last value will lead to movement. Here, the target is 1.3847. Upon reaching this level, the design of potential initial conditions for the top is possible.

For the downward movement, we have not yet determined the subsequent goals.

The main trend is a downward structure from April 17. We expect a correction.

Trading recommendations:

Buy: 1.3616 Take profit: 1.3682

Buy: 1.3684 Take profit: 1.3750

Sell: Take profit:

Sell: Take profit:

For the USD / CHF pair, the key levels on the scale of H1 are: 1.0056, 1.0039, 0.9991, 0.9972, 0.9949 and 0.9933. Here, we follow the formation of a downward structure from May 10. The continuation of the downward movement is expected after the breakdown of 0.9991. In this case, the target is 0.9972. Near this level is the consolidation of the price. The breakdown at the level of 0.9972 should be accompanied by a pronounced movement towards the level of 0.9949. The potential value for the bottom is the level of 0.9933. Upon reaching this level, we expect a rollback to the top.

Short-term upward movement is possible in the area of 1.0039 - 1.0056. Further objectives for the top are not yet considered.

The main trend is the formation of a downward structure from May 10.

Trading recommendations:

Buy: 1.0040 Take profit: 1.0053

Buy: Take profit:

Sell: 0.9990 Take profit: 0.9974

Sell: 0.9968 Take profit: 0.9950

For the USD / JPY pair, the key levels on a scale are: 110.82, 110.66, 110.20, 109.96, 109.56, 109.35, 108.99 and 108.70. Here, we follow the formation of the upward structure of May 4. The continuation of the upward movement is expected after the breakdown of 109.96. In this case, the target is 110.20. Near this level is the consolidation of the price. The breakdown at the level of 110.20 should be accompanied by a pronounced movement towards the level of 110.66. The potential value for the top is the level of 110.82. Upon reaching this level, we expect a pullback downwards.

Consolidated traffic is possible in the area of 109.56 - 109.35. The breakdown of the last value will lead to in-depth correction. Here, the target is 108.99. This level is the key support for the top of May 4.

The main trend is the formation of the upward structure of May 4.

Trading recommendations:

Buy: 109.96 Take profit: 110.20

Buy: 110.24 Take profit: 110.64

Sell: 109.30 Take profit: 109.05

Sell: 108.96 Take profit: 108.74

For the CAD / USD pair, the key levels on the H1 scale are: 1.2886, 1.2863, 1.2815, 1.2787, 1.2751, 1.2701, 1.2660 and 1.2603. Here, we follow the development of the downward structure of May 8. The continuation of the movement downwards is expected after the breakdown of 1.2750. In this case, the target is 1.2701. The breakdown of this level will allow us to count on the movement towards the level of 1.2660. Near this level is the consolidation of the price. The potential value for the bottom is the level of 1.2603. From this level, we expect a rollback to the top.

Short-term upward movement is possible in the area of 1.2787 - 1.2815. The breakdown of the last value will lead to in-depth correction. Here, the target is 1.2863. The range of 1.2863 - 1.2886 is the key support for the downward structure from May 8.

The main trend is the downward structure of May 8.

Trading recommendations:

Buy: 1.2787 Take profit: 1.2813

Buy: 1.2817 Take profit: 1.2860

Sell: 1.2748 Take profit: 1.2705

Sell: 1.2698 Take profit: 1.2660

For the AUD / USD pair, the key H1 scale levels are: 0.7635, 0.7587, 0.7569, 0.7547, 0.7507, 0.7488 and 0.7459. Here, we follow the formation of the upward structure of May 9. The continuation of the upward movement is expected after the breakdown of 0.7547. In this case, the target is 0.7569. In the area of 0.7569 - 0.7587 is the consolidation of the price. The potential value for the top is the level of 0.7635. The movement towards this level is expected after the breakdown of 0.7587.

Short-term downward movement is possible in the area of 0.7507 - 0.7488. The breakdown of the last value will lead to in-depth correction. Here, the target is 0.7460. This level is the key support for the upward structure.

The main trend is the formation of the upward structure of May 9.

Trading recommendations:

Buy: 0.7547 Take profit: 0.7569

Buy: 0.7590 Take profit: 0.7635

Sell: 0.7507 Take profit: 0.7488

Sell: 0.7485 Take profit: 0.7461

For the of EUR / JPY pair, the key levels on the scale of H1 are: 131.64, 131.16, 130.62, 130.32, 129.70, 129.37, 128.91 and 128.62. Here, we follow the downward structure from April 24. At the moment, the price is in correction and forms the potential for the top of May 8. Short-term downward movement is possible in the area of 129.70 - 129.37. The breakdown of the last value should be accompanied by a pronounced movement towards the level of 128.91. In the area of 128.91 - 128.62 is the consolidation of the price and from here, we expect a rollback towards correction.

Short-term upward movement is possible in the area of 130.32 - 130.62. The breakdown of the last value will lead to in-depth correction. Here, the target is 131.16. This level is the key support for the downward structure. Its breakdown will lead to the formation of an upward structure. Here, the potential target is 131.64.

The main trend is the downward structure from April 24, the correction stage.

Trading recommendations:

Buy: 130.32 Take profit: 130.60

Buy: 130.66 Take profit: 131.16

Sell: 129.70 Take profit: 129.40

Sell: 129.33 Take profit: 128.95

For the GBP / JPY pair, the key levels on the scale of H1 are: 149.81, 149.18, 148.67, 147.63, 146.88, 147.75 and 145.12. Here, we follow the local downward structure of April 26. At the moment, the price is in correction and forms the potential for the upward movement of May 8. The continuation of the downward movement is expected after the breakdown of 147.63. In this case, the target is 146.88. Near this level is the consolidation of the price. The breakdown of 146.85 should be accompanied by a pronounced downward movement. Here, the target is 145.75. The potential value for the bottom is the level 145.12. From this level, we expect a rollback towards correction.

Short-term upward movement is possible in the area of 148.67 - 149.18. The breakdown of the last value will lead to in-depth correction. Here, the target is 149.81.

The main trend is a local downward structure from April 26, the correction stage.