Dear colleagues.
For the Euro / Dollar currency pair, the development of the ascending structure from October 31, we expect after the breakdown of 1.1465 and we consider the movement to the bottom as a correction. For the currency pair Pound / Dollar, as a potential value for the top, while we are considering the level of 1.3233. For the currency pair Dollar / Franc, we are following the development of the downward structure of October 31 as the main trend. For the currency pair Dollar / Yen, the continuation of the movement to the top and we expect after the breakdown of 113.46. For the currency pair Euro / Yen, the potential for the top is still at the level of 130.55. For the currency pair Pound / Yen, the price is near the limit values for the upward structure of October 26, and therefore, we expect a correction.
Forecast for November 7:
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, we are following the ascending structure of October 31. TWe expect the short-term upward movement in the range of 1.1424 - 1.1463. The breakdown of the level of 1.1465 should be accompanied by a pronounced upward movement. Here, the target is 1.1508. We consider the level of 1.1538 to be a potential value for the top. Upon reaching this level, we expect consolidation, as well as a rollback to the correction.
The short-term downward movement, possibly 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 - the formation of potential for the top of October 31.
Trading recommendations:
Buy 1.1428 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. We expect the short-term upward movement in the range of 1.3090 - 1.3154. The potential value for the top and we consider 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, as the main trend, we consider the downward structure of October 31. We expect the continuation of the movement to the bottom after the breakdown of 0.9994. In this case, the goal is 0.9964 and in the range of 0.9964 - 0.9944 is the price consolidation. A potential value for the bottom, we consider the level of 0.9918, after reaching which, we expect a rollback to the top.
The short-term upward movement, possibly 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 downward structure of October 31.
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 the scale of H1 are: 114.48, 114.21, 113.77, 113.46, 112.88, 112.44 and 112.13. Here, we are following the development of the ascending cycle of October 26. The short-term upward movement, possibly 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, we consider the level of 114.48, after reaching which, we expect a rollback to the bottom.
We expect the correction after the breakdown of 112.88. In this case, the target is 112.44 and in the range of 112.44 - 112.13 is the short-term downward movement. To the level of 112.13, we expect registration of the initial conditions for the downward cycle.
The main trend is the ascending cycle of October 26.
Trading recommendations:
Buy: 113.48 Take profit: 113.75
Buy: 113.80 Take profit: 114.20
Sell: 112.85 Take profit: 112.55
Sell: 112.42 Take profit: 112.15
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 monitor the local structure for the top of October 24th. The continuation of the movement to the top, we expect after the price passes the range of 1.3168 - 1.3191. In this case, the first goal is 1.3222, consolidation is near this level. The potential value for the top, we consider the level of 1.3269, after reaching which we expect a rollback to the correction.
The short-term downward movement, possibly in the range of 1.3089 - 1.3060, hence the probability of a reversal to the top. The breakdown of the level of 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 ascending structure of October 26. The short-term upward movement, possibly in the range of 0.7218 - 0.7237 and the breakdown of the last value will allow to expect a movement towards a potential target of 0.7276, upon reaching this level we expect a rollback to the bottom.
The short-term downward movement, possibly 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 ascending structure of October 26. We expect the short-term upward movement 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, possibly 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 upward movement, possibly in the range of 148.40 - 148.98, from here we expect a key reversal to the bottom.
The short-term downward movement, possibly 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
The material has been provided by InstaForex Company - www.instaforex.com