Dear colleagues.
For the Euro / Dollar currency pair, the price is in the area of the initial conditions for the downward movement of October 16 and we expect the continuation of the downward movement after the breakdown of 1.1475. For the currency pair Pound / Dollar, the price is in the correction zone and we expect further downward movement after the breakdown of 1.3004. For the currency pair Dollar / Franc, the price forms an upward structure of October 15 and the development of which is expected after the breakdown of 0.9975. For the currency pair Dollar / Yen, the price is in correction and forms a potential for the upside and the uptrend development is expected after the breakdown of 112.72. For the currency pair Euro / Yen, the price forms the potential for an upward movement of October 18 and the development of this structure is expected after the breakdown of 129.74. For the currency pair Pound / Yen, the continuation of the development of the downward structure of October 16 is possible after the breakdown of 146.22.
Forecast for October 22:
Analytical review of H1-scale currency pairs:
For the Euro / Dollar currency pair, the key levels on the H1 scale are: 1.1612, 1.1589, 1.1555, 1.1528, 1.1475, 1.1448, 1.1425, 1.1392 and 1.1370. Here, we are following the downward structure of October 16. At the moment, the price is in the correction. The continuation of the downward movement is expected after the breakdown of 1.1475. In this case, the first target is 1.1448. The short-term downward movement is possible in the range of 1.1448 - 1.1425 and the breakdown of the latter value will lead to the development of a pronounced movement. Here, the target is 1.1392. The potential value for the bottom is considered the level of 1.1370, after reaching which we expect consolidation, as well as a rollback to the correction.
The short-term upward movement is possible in the range of 1.1528 - 1.1555 and the breakdown of the latter will lead to the development of an upward trend. In this case, the target is 1.1589. The potential value for the top is considered the level of 1.1612, upon reaching which we expect consolidation and rollback downwards.
The main trend is the downward structure of October 16, the stage of correction.
Trading recommendations:
Buy 1.1528 Take profit: 1.1553
Buy 1.1557 Take profit: 1.1586
Sell: 1.1475 Take profit: 1.1450
Sell: 1.1448 Take profit: 1.1425
For the Pound / Dollar currency pair, the key levels on the H1 scale are 1.3120, 1.3071, 1.3043, 1.3004, 1.2945, 1.2896 and 1.2830. Here, we are following the development of the downward structure of October 12. At the moment, the price is in the correction. We expect the downward movement to continue after the breakdown of 1.3004. In this case, the target is 1.2945 and the breakdown of which will allow us to expect a movement to the level of 1.2896, consolidation is near this value. A potential value for the bottom is considered the level of 1.2830, after reaching which we expect a departure to a correction.
The short-term upward movement is possible in the range of 1.3043 - 1.3071 and the breakdown of the latter value will lead to a prolonged correction. Here, the target is 1.3120 and this level is the key support for the downward structure.
The main trend is the downward cycle of October 12.
Trading recommendations:
Buy: 1.3043 Take profit: 1.3070
Buy: 1.3074 Take profit: 1.3120
Sell: 1.3002 Take profit: 1.2947
Sell: 1.2943 Take profit: 1.2898
For the Dollar / Franc currency pair, the key levels on the H1 scale are: 1.0030, 1.0007, 0.9975, 0.9960, 0.9934, 0.9918 and 0.9893. Here, we are following the development of the ascending structure of October 15. The price passage of the range of 0.9960 - 0.9975 will begin the development of an upward trend. In this case, the goal is 1.0007. The potential value for the top is considered to be the level of 1.0030, after reaching which, we expect consolidation, as well as a rollback to the correction.
The short-term downward movement is possible in the range of 0.9934 - 0.9918 and the breakdown of the latter value will lead to a prolonged correction. Here, the target is 0.9893 and this level is the key support for the top.
The main trend is the ascending structure of October 15.
Trading recommendations:
Buy: 0.9977 Take profit: 1.0005
Buy: 1.0009 Take profit: 1.0030
Sell: 0.9934 Take profit: 0.9920
Sell: 0.9916 Take profit: 0.9895
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 formation of the potential for the top of October 15. 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, upon reaching which we expect a rollback to the top.
The consolidated 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 is the downward cycle of October 3, the stage of correction.
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: 1.3250, 1.3199, 1.3161, 1.3127, 1.3085, 1.3060 and 1.3022. Here, we are following the development of the ascending structure of October 16. The upward movement is expected after the breakdown of 1.3127. In this case, the target is 1.3161 and in the range of 1.3161 - 1.3199 is the short-term upward movement, as well as consolidation. The potential value for the top is considered the level of 1.3250, after reaching which we expect a departure to the correction.
The short-term downward movement is possible in the range of 1.3085 - 1.3060 and the breakdown of the latter value will lead to a prolonged correction. Here, the target is 1.3022 and this level is the key support for the upward structure of October 16.
The main trend is the ascending structure of October 16.
Trading recommendations:
Buy: 1.3127 Take profit: 1.3160
Buy: 1.3163 Take profit: 1.3197
Sell: 1.3085 Take profit: 1.3062
Sell: 1.3058 Take profit: 1.3025
For the currency pair Australian dollar / Dollar, the key levels on the scale of H1 are: 0.7211, 0.7188, 0.7156, 0.7130, 0.7092, 0.7073. Here, the price entered the equilibrium state. 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 to be the level of 0.7211, upon reaching which we expect consolidation.
The price at 0.7092 - 0.7073 will lead to the development of the downward movement. Here, the goal is 0.7040, up to this level, we expect registration of the expressed initial conditions for the downward cycle.
The main trend is the equilibrium situation.
Trading recommendations:
Buy: 0.7130 Take profit: 0.7152
Buy: 0.7158 Take profit: 0.7185
Sell: 0.7190 Take profit: 0.7073
Sell: 0.7070 Take profit: 0.7042
For the Euro / Yen currency pair, the key levels on the H1 scale are: 131.08, 130.71, 130.18, 129.74, 129.13, 128.84 and 128.31. Here, the price forms the potential for the top of October 18. The continuation of the movement upward, we expect after the breakdown of 129.74. In this case, the goal is 130.18 and consolidation is near this level. The breakdown of the level of 130.20 will lead to the development of a pronounced upward movement. In this case, the goal is 130.71. The potential value for the top is considered the level of 131.08, upon reaching which we expect a rollback downwards.
The short-term downward movement is possible in the range of 129.13 - 128.84. Hence, there is a high probability of a reversal upwards. The breakdown of the level of 128.84 will have to develop a downward trend. In this case, the goal is 128.31.
The main trend is the formation of potential for the top of October 18.
Trading recommendations:
Buy: 129.75 Take profit: 130.10
Buy: 130.25 Take profit: 130.70
Sell: 129.10 Take profit: 128.86
Sell: 128.80 Take profit: 128.40
For the Pound / Yen currency pair, the key levels on the H1 scale are: 148.35, 147.42, 146.92, 146.22, 145.68, 145.20, 144.91 and 144.34. Here, we are following the downward structure of October 16. The downward movement is expected after breakdown of 146.22. In this case, the first target is 145.68 and the breakdown of which in turn will lead to the movement to the level of 145.20, and the consolidation is in the range of 145.20 to 144.91. The potential value for the bottom is considered the level of 144.34, after reaching which we expect a rollback to the top.
The short-term upward movement is possible in the range of 146.92 - 147.42 and the breakdown of the latter value will have to develop the ascending structure. In this case, the goal is 148.35.
The main trend is the downward structure of October 16.
Trading recommendations:
Buy: 146.95 Take profit: 147.40
Buy: 147.50 Take profit: 148.30
Sell: 146.20 Take profit: 145.70
Sell: 145.65 Take profit: 145.22
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