Dear colleagues.
For the Euro / Dollar currency pair, the upward structure of October 31 is expected to develop after the breakdown of 1.1424. For the Pound / Dollar currency pair, we should continue moving upwards after the breakdown of 1.3090. For the currency pair Dollar / Franc, the situation is in equilibrium and the downward structure of October 31, as well as the formation of potential for the bottom of November 2. For the currency pair Dollar / Yen, we expect further uptrend after the breakdown of 113.46. For the Euro / Yen currency pair, we expect a movement to the level of 129.50 and we consider the downward movement as a correction. For the currency pair Pound / Yen, the price is near the limit values for the upward structure of October 26 and we expect a correction to go.
Forecast for November 6:
Analytical review of H1-scale currency pairs:
For the Euro / Dollar currency pair, the key levels on the H1 scale are: 1.1538, 1.1508, 1.1463, 1.1424, 1.1389, 1.1371, 1.1344 and 1.1299. Here, the price forms the potential for the top of October 31. The upward movement is expected after the breakdown of 1.1424. In this case, the target is 1.1463, price consolidation is near this level. The breakdown of the level of 1.1465 should be accompanied by a pronounced upward movement. Here, the target is 1.1508. The potential value for the top is considered the level of 1.1538, upon reaching which we expect consolidation, as well as a rollback to the correction.
The short-term downward movement is possible in the range of 1.1389 - 1.1371 and the breakdown of the latter will lead to the development of a protracted correction. Here, the target is 1.1344 and this level is the key support for the upward structure.
The main trend is the formation of potential for the top of October 31.
Trading recommendations:
Buy 1.1424 Take profit: 1.1460
Buy 1.1465 Take profit: 1.1508
Sell: 1.1370 Take profit: 1.1346
Sell: 1.1342 Take profit: 1.1308
For the Pound / Dollar currency pair, the key levels on the H1 scale are: 1.3233, 1.3154, 1.3090, 1.3019, 1.2974, 1.2932 and 1.2866. Here, we are following the ascending structure of October 30. The short-term upward movement is expected in the range of 1.3090 - 1.3154. The potential value for the top is considered the level of 1.3233, from which we expect the development of a protracted correction.
The short-term downward movement is possible in the range of 1.2974 - 1.2932 and the breakdown of the latter value will lead to a prolonged correction. Here, the target is 1.2866 and this level is the key support for the top.
The main trend is the ascending structure of October 30.
Trading recommendations:
Buy: 1.3093 Take profit: 1.3152
Buy: 1.3156 Take profit: 1.3230
Sell: 1.2974 Take profit: 1.2935
Sell: 1.2930 Take profit: 1.2870
For the Dollar / Franc currency pair, the key levels on the H1 scale are: 1.0093, 1.0057, 1.0037, 0.9994, 0.9964, 0.9944 and 0.9918. Here, the situation is in equilibrium. The initial conditions for the downward movement, as well as the formation of the potential for the top of November 2. The continuation of the downward movement is expected after the breakdown of 0.9994. In this case, the target is 0.9964 and in the range of 0.9964 - 0.9944 is the price consolidation. The potential value for the bottom is considered the level of 0.9918, after reaching which we expect a rollback to the top.
The short-term upward movement is possible in the range of 1.0037 - 1.0057 and the breakdown of the latter value will have to form an ascending structure. In this case, the goal is 1.0093.
The main trend is the equilibrium situation.
Trading recommendations:
Buy: 1.0037 Take profit: 1.0055
Buy: 1.0063 Take profit: 1.0090
Sell: 0.9994 Take profit: 0.9967
Sell: 0.9962 Take profit: 0.9948
For the Dollar / Yen currency pair, the key levels on a scale of H1 are: 114.48, 114.21, 113.77, 113.46, 113.13, 112.44 and 112.13. Here, we are following the development of the ascending cycle of October 26. At the moment, we expect to move to the level of 113.46. The short-term upward movement is possible in the range of 113.46 - 113.77 and the breakdown of the last value should be accompanied by a pronounced upward movement. Here, the goal is 114.21. The potential value for the top is considered the level of 114.48, after reaching which we expect a rollback downwards.
The range of 112.44 - 112.13 is the key support for the upward structure and we expect a short-term downward movement, as well as a key upward reversal. The breakdown of the level of 112.13 will lead to the formation of the initial conditions for the downward cycle.
The main trend: the ascending cycle of October 26, the stage of correction.
Trading recommendations:
Buy: 113.48 Take profit: 113.75
Buy: 113.80 Take profit: 114.20
Sell: 112.44 Take profit: 112.20
Sell: Take profit:
For the Canadian dollar / Dollar currency pair, the key levels on the H1 scale are: 1.3269, 1.3222, 1.3191, 1.3168, 1.3089, 1.3060 and 1.3021. Here, we are following the local structure for the top of October 24th. The upward movement is expected after the price passes the range of 1.3168 - 1.3191. In this case, the first target is 1.3222, consolidation is near this level. The potential value for the top is considered the level of 1.3269, upon reaching which we expect a rollback to the correction.
The short-term downward movement is possible in the range of 1.3089 - 1.3060, hence a high probability of a reversal upwards. The breakdown of the level 1.3060 will lead to a prolonged correction. Here, the target is 1.3021.
The main trend is the local structure of October 24.
Trading recommendations:
Buy: 1.3191 Take profit: 1.3220
Buy: 1.3224 Take profit: 1.3269
Sell: 1.3089 Take profit: 1.3062
Sell: 1.3058 Take profit: 1.3024
For the Australian dollar / dollar currency pair, the key levels on the H1 scale are: 0.7189, 0.7167, 0.7136, 0.7110, 0.7062, 0.7040 and 0.7017. Here, we are following the rising structure of October 26. The short-term upward movement is possible in the range of 0.7218 - 0.7237 and the breakdown of the latter value will allow to expect a movement towards a potential target of 0.7276, upon reaching this level we expect a rollback downwards.
The short-term downward movement is possible in the range of 0.7189 - 0.7167 and the breakdown of the latter value will lead to a prolonged correction. Here, the target is 0.7136 and this level is the key support for the top.
The main trend is the upward cycle of October 26.
Trading recommendations:
Buy: 0.7218 Take profit: 0.7235
Buy: 0.7240 Take profit: 0.7274
Sell: 0.7187 Take profit: 0.7170
Sell: 0.7165 Take profit: 0.7143
For the Euro / Yen currency pair, the key levels on the H1 scale are: 130.55, 129.93, 129.50, 128.58, 128.29 and 127.82. Here, we are following the rising structure of October 26. The short-term upward movement is expected in the range of 129.50 - 129.93 and the breakdown of the last value will lead to the movement to the potential target of 130.55, after reaching which we expect a rollback to the correction.
The short-term downward movement is possible in the range of 128.58 - 128.29 and the breakdown of the last value will lead to a prolonged correction. Here, the goal is 127.82 and this level is the key support for the top.
The main trend is the upward structure of October 26.
Trading recommendations:
Buy: 129.50 Take profit: 129.90
Buy: 130.00 Take profit: 130.50
Sell: 128.55 Take profit: 128.33
Sell: 128.25 Take profit: 127.90
For the Pound / Yen currency pair, the key levels on the H1 scale are: 148.98, 148.40, 147.51, 147.02 and 146.22. Here, we are following the upward cycle from October 26. At the moment, the price is close to the limit values, and therefore, we expect a rollback to the correction.
The short-term downward movement is possible in the range of 147.51 - 147.02 and the breakdown of the latter value will lead to a prolonged correction. Here, the target is 146.22 and this level is the key support for the upward structure.
The main trend is the upward cycle of October 26.
Trading recommendations:
Buy: 148.40 Take profit: 148.95
Buy: Take profit:
Sell: 147.50 Take profit: 147.05
Sell: 147.00 Take profit: 146.30
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