Dear colleagues.
For the Euro / Dollar currency pair, we are following the ascending structure of October 9 and a pronounced movement is expected after the breakdown of 1.1628. For the pound / dollar currency pair, we expect a resumption of the uptrend after the breakdown of 1.3211. For the currency pair Dollar / Franc, the price is close to the abolition of the downward structure of October 9, for which a break of 0.9918 is necessary. For the currency pair Dollar / Yen, the price is in correction and forms potential for the top, the level of 112.72 is the key support. For the currency pair Euro / Yen, the price is in correction and forms the potential for the top of October 15. For the currency pair Pound / Yen, we are following the formation of the ascending structure of October 15.
Forecast for October 17:
Analytical review of H1-scale currency pairs:
For the Euro / Dollar currency pair, the key levels on the H1 scale are: 1.1699, 1.1658, 1.1628, 1.1612, 1.1585, 1.1550, 1.1518 and 1.1478. Here, we continue to follow the development of the ascending structure of October 9. The upward movement is expected after the breakdown of 1.1585. In this case, the goal is 1.1612, and consolidation is in the range of 1.1612 - 1.1628. The passage of the level of 1.1628 will lead to a pronounced movement. Here, the goal is 1.1658. The potential value for the top is considered the level of 1.1699, after reaching which we expect a departure to a correction.
The short-term downward movement is possible in the range of 1.1550 - 1.1518, hence we expect the key upward reversal. The breakdown of the level of 1.1518 will have to develop the downward structure. In this case, the goal is 1.1478.
The main trend is the ascending structure of October 9.
Trading recommendations:
Buy 1.1585 Take profit: 1.1610
Buy 1.1629 Take profit: 1.1656
Sell: 1.1548 Take profit: 1.1525
Sell: 1.1516 Take profit: 1.1480
For the Pound / Dollar currency pair, the key levels on the H1 scale are 1.3350, 1.3292, 1.3263, 1.3211, 1.3133, 1.3081 and 1.3023. Here, we continue to monitor the ascending structure of October 4. The upward movement is expected after the breakdown of 1.3211. In this case, the target is 1.3263 and in the range of 1.3263 - 1.3292 is the price consolidation. The potential value for the top is considered the level of 1.3350, upon reaching this level we expect a rollback downwards.
The short-term downward movement is possible in the range of 1.3133 - 1.3081 and the breakdown of the latter value will lead to the development of the downward movement. Here, the target is 1.3023.
The main trend is the upward cycle of October 4.
Trading recommendations:
Buy: 1.3211 Take profit: 1.3260
Buy: 1.3294 Take profit: 1.3350
Sell: 1.3080 Take profit: 1.3030
Sell: 1.3130 Take profit: 1.3084
For the Dollar / Franc currency pair, the key levels on the H1 scale are: 0.9918, 0.9896, 0.9860, 0.9835, 0.9820, 0.9782 and 0.9757. Here, we are following the downward structure of October 9. The continuation of the downward movement is expected after the breakdown of the level of 0.9860. In this case, the target is 0.9835 and the passage at the cost of the range of 0.9835 - 0.9820 should be accompanied by a pronounced downward movement. Here, the target is 0.9782. The potential value for the bottom is considered to be the level of 0.9757, after reaching which we expect consolidation and rollback to the top.
The short-term upward movement is possible in the range of 0.9896 - 0.9918 and the breakdown of the latter value will have to form an ascending structure. Here, the goal is 0.9953.
The main trend is the downward structure of October 9.
Trading recommendations:
Buy: 0.9918 Take profit: 0.9950
Buy: Take profit:
Sell: 0.9860 Take profit: 0.9837
Sell: 0.9820 Take profit: 0.9786
For the Dollar / Yen currency pair, the key levels on the scale of H1 are: 113.31, 112.72, 112.38, 111.77, 111.48, 111.02 and 110.38. Here, we are following the downward cycle of October 3rd. The short-term downward movement is expected in the range of 111.77 - 111.48. The breakdown of the level of 111.48 will lead to the movement to 111.02, near this level is the consolidation of the price. The potential value for the bottom is considered the level of 110.38, after reaching which we expect a rollback to the top.
The short-term upward movement is possible in the range of 112.38 - 112.72 and the breakdown of the latter value will lead to a prolonged correction. Here, the goal is 113.31 and this level is the key support for the downward structure.
The main trend: the downward cycle of October 3.
Trading recommendations:
Buy: 112.38 Take profit: 112.70
Buy: 112.75 Take profit: 113.30
Sell: 111.75 Take profit: 111.50
Sell: 111.46 Take profit: 111.04
For the Canadian dollar / Dollar currency pair, the key levels on the H1 scale are: 1.3013, 1.2982, 1.2952, 1.2911, 1.2866, 1.2835 and 1.2791. Here, we are following the downward structure of October 11th. A downward movement is expected after the breakdown of 1.2910. In this case, the target is 1.2866 and in the range of 1.2866 - 1.2835 is the price consolidation. The potential value for the bottom is considered the level of 1.2791, after reaching which we expect a rollback to the top.
The short-term uptrend is possible in the range of 1.2952 - 1.2982 and the breakdown of the latter value will lead to a deep correction. Here, the goal is 1.3013 and this level is the key support for the downward structure. Its price passage will have to form the initial conditions for the upward cycle
The main trend is the downward structure of October 11.
Trading recommendations:
Buy: 1.2953 Take profit: 1.2980
Buy: 1.2984 Take profit: 1.3010
Sell: 1.2908 Take profit: 1.2870
Sell: 1.2864 Take profit: 1.2837
For the Australian dollar / Dollar currency pair, the key levels on the H1 scale are: 0.7211, 0.7188, 0.7156, 0.7130, 0.7107, 0.7092, 0.7073. Here, the price forms the ascending structure of October 10. The short-term upward movement, as well as consolidation, is expected in the range of 0.7130 - 0.7156. The breakdown of the level of 0.7158 should be accompanied by a pronounced upward movement. Here, the target is 0.7188. The potential value for the top is considered the level of 0.7211, after reaching which we expect consolidation.
The short-term downward movement is expected in the range of 0.7107 - 0.7092 and the breakdown of the last value will lead to a prolonged correction. Here, the goal is 0.7073 and this level is the key support for the top. Its price will have the development of the downward structure. In this case, the potential goal is 0.7040.
The main trend is the formation of the ascending structure from October 10.
Trading recommendations:
Buy: 0.7135 Take profit: 0.7152
Buy: 0.7158 Take profit: 0.7185
Sell: 0.7107 Take profit: 0.7194
Sell: 0.7190 Take profit: 0.7073
For the Euro / Yen currency pair, the key levels on the H1 scale are: 130.94, 130.34, 129.97, 129.43, 129.07 and 128.35. Here, the price is in correction from the downward structure and forms the potential for the top of October 15. The short-term downward movement is possible in the range of 129.43 - 129.07, hence the probability of an upward reversal. The breakdown of the level of 129.07 will allow us to count on the movement towards a potential target of 128.35, after reaching which we expect a rollback to the correction.
The short-term upward movement is possible in the range of 129.97 - 130.34 and the breakdown of the latter value will lead to a prolonged correction. Here, the goal is 130.94 and this level is the key support for the downward structure.
The main trend is the downward structure of September 25, the stage of correction.
Trading recommendations:
Buy: 129.98 Take profit: 130.32
Buy: 130.37 Take profit: 130.90
Sell: 129.41 Take profit: 129.10
Sell: 129.03 Take profit: 128.40
For the Pound / Yen currency pair, the key levels on the H1 scale are: 150.34, 149.84, 149.10, 148.52, 147.69, 147.39, 146.92 and 146.47. Here, we are following the formation of the ascending structure of October 15. The upward movement is expected after breakdown of 148.52. In this case, the target is 149.10, consolidation is near this level. The breakdown of the level of 149.10 will lead to the development of a pronounced movement. Here, the target is 149.84. The potential value for the top is considered to be the level of 150.34, upon reaching which we expect consolidation and rollback downwards.
The short-term downward movement is possible in the range of 147.69 - 147.39 and the breakdown of the latter value will lead to a prolonged correction. Here, the target is 146.92 and this level is the key support for the upward structure.
The main trend is the formation of initial conditions for the upward cycle of October 15.
Trading recommendations:
Buy: 148.55 Take profit: 149.00
Buy: 149.15 Take profit: 149.80
Sell: 147.35 Take profit: 147.00
Sell: 146.90 Take profit: 146.50
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