Dear colleagues.
For the Euro / Dollar currency pair, we clarified the targets for the ascending structure of October 16, which we consider as a medium-term one. For the currency pair Pound / Dollar, we continue to follow the downward cycle of October 12 as the main trend. 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, we are following the development of the ascending structure from October 15 and we expect further upward movement after the breakdown of 113.05. For the Euro / Yen currency pair, the price forms the potential for the upward movement of October 18 and the development of this structure as a cycle is expected after the breakdown of 130.18. For the currency pair Pound / Yen, we are following the downward structure from October 16 and the level of 145.68 is the key resistance for the bottom.
Forecast for October 23:
Analytical review of H1-scale currency pairs:
For the Euro / Dollar currency pair, the key levels on the H1 scale are: 1.1547, 1.1516, 1.1494, 1.1474, 1.1448, 1.1428, 1.1380 and 1.1346. Here, we clarified the goals for the downward structure of October 16. We expect the downward movement to continue after the price passes the range of 1.1448 - 1.1428. In this case, the target is 1.1380. The potential value for the bottom is considered the level of 1.1346, upon reaching this value we expect a rollback to the top.
The short-term upward movement is possible in the range of 1.1474 - 1.1494 and the breakdown of the latter will lead to the development of a protracted correction. Here, the target is 1.1516 and this level is the key support for the bottom. Its price passage will have to form an upward structure. In this case, the potential target is 1.1547.
The main trend is the downward structure of October 16.
Trading recommendations:
Buy 1.1474 Take profit: 1.1492
Buy 1.1495 Take profit: 1.1514
Sell: 1.1426 Take profit: 1.1384
Sell: 1.1379 Take profit: 1.1348
For the Pound / Dollar currency pair, the key levels on the H1 scale are: 1.3120, 1.3096, 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 1.2945. In this case, the target is 1.2896 and consolidation is near this value. Hence, the likelihood of upward correction development is also high. 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 uptrend is possible in the range of 1.3004 - 1.3043 and the breakdown of the last value will lead to a prolonged correction. Here, the target is 1.3096 and the range of 1.3096 - 1.3120 is the key support for the downward structure. We expect clearance of the expressed initial conditions for the upward cycle.
The main trend is the downward cycle of October 12.
Trading recommendations:
Buy: 1.3004 Take profit: 1.3040
Buy: 1.3047 Take profit: 1.3094
Sell: 1.2943 Take profit: 1.2898
Sell: 1.2892 Take profit: 1.2834
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 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: 113.53, 113.23, 113.03, 112.90, 112.59, 112.40 and 112.09. Here, we are following the ascending structure of October 15. The movement upwards is expected after the price passes the range of 112.90 - 113.03. In this case, the target is 113.23, and consolidation is near this level. The potential value for the top is considered the level of 113.53, after reaching which we expect a departure to the correction.
The short-term downward movement is possible in the range of 112.59 - 112.40 and the breakdown of the latter value will lead to a prolonged correction. Here, the target is 112.09 and this level is the key support for the upward structure.
The main trend: the ascending structure of October 15.
Trading recommendations:
Buy: 113.03 Take profit: 113.21
Buy: 113.25 Take profit: 113.50
Sell: 112.57 Take profit: 112.44
Sell: 112.38 Take profit: 112.15
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 the 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 H1 scale are: 0.7130, 0.7105, 0.7088, 0.7059, 0.7034, 0.7017 and 0.6992. Here, we are following the development of the downward structure of October 17. The continuation of the downward movement is expected after the breakdown of 0.7059. In this case, the goal is 0.7034 and in the range of 0.7034 - 0.7017 is the price consolidation. The potential value for the bottom is considered the level of 0.6992, upon reaching which we expect a rollback to the top.
The short-term uptrend is possible in the range of 0.7088 - 0.7105 and the breakdown of the latter value will lead to a prolonged correction. Here, the target is 0.7130 and this level is the key support for the downward structure.
The main trend is the downward structure of October 17.
Trading recommendations:
Buy: 0.7088 Take profit: 0.7105
Buy: 0.7107 Take profit: 0.7130
Sell: 0.7056 Take profit: 0.7034
Sell: 0.7016 Take profit: 0.6992
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, we follow the formation of the initial conditions for the top of October 18. We expect the continuation of the movement upward 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 short-term downward movement is expected in the range of 146.22 - 145.68 and the breakdown of the latter value will lead to a movement to the level of 145.20. In the range of 145.20 - 144.91 is the consolidation. 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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