Dear colleagues,
For the Euro/Dollar pair, the price is in the adjustment area of the downward structure on January 2, The key support level is at 1.1430. For the Pound/Dollar pair, the price is in the correction area of the downward structure on December 31, the key support level is 1.2700. The Dollar/Franc pair forms the initial conditions for the upward cycle of December 28. The development of this structure is expected after the breakdown of 0.9926. The Dollar/Yen pair is following the formation of the ascending structure of January 3 on the M30 scale. The Euro/Yen pair forms the upward structure of January 3 and the subsequent development of which is expected after the breakdown of 123.74. The Pound/Yen pair is following the formation of the ascending structure of January 3.
Forecast for January 4:
Analytical review of H1-scale currency pairs:
For the Euro/Dollar pair, the key levels on the H1 scale are 1.1430, 1.1394, 1.1336, 1.1298, 1.1259, 1.1194 and 1.1148. Here, we are following the formation of the downward structure of January 2. At the moment, the price is in the correction zone. Continuation of the downward movement is expected after the breakdown of 1.1336, which in this case the first target is 1.1298. A short-term downward movement is possible in the range of 1.1298 – 1.1259 and the breakdown of the latter value will lead to the development of a pronounced movement. Here, the goal is 1.1194. The potential value for the bottom is considered the level of 1.1148, and upon reaching, we can expect a rollback to the top.
A short-term upward movement is possible in the range of1.1394 – 1.1430. The breakdown of the latter value will lead to the formation of an upward structure, in this case the potential target is 1.1496.
The main trend is the formation of potential for the bottom of January 2.
Trading recommendations:
Buy 1.1435 Take profit: 1.1480
Buy-Take profit:
Sell: 1.1336 Take profit: 1.1300
Sell: 1.1297 Take profit: 1.1260
For the Pound/Dollar pair, the key levels on the H1 scale are 1.2699, 1.2638, 1.2549, 1.2490, 1.2402, 1.2336, 1.2254 and 1.2200. Here, we are following the development of the downward structure from December 31. At the moment, the price is in the area of correction. A downward movement is expected after the breakdown of 1.2549, in this case the first target is 1.2490. The breakdown of which will lead to a pronounced movement to the level of 1.2402, ranging at 1.2402 - 1.2336 for short-term downward movement. The breakdown of the level of 1.2254 will lead to a pronounced movement to the level of 1.2254. The potential value for the bottom is considered the level of 1.2200, and upon reaching, we can expect a departure to a correction.
Short-term upward movement is possible in the range of 1.2638 – 1.2699. The breakdown of the latter value will have an upward trend. Here, the potential target is 1.2813.
The main trend is the downward structure of December 31, in the stage of correction.
Trading recommendations:
Buy: 1.2640 Take profit: 1.2695
Buy: 1.2710 Take profit: 1.2770
Sell: 1.2549 Take profit: 1.2495
Sell: 1.2490 Take profit: 1.2410
For the Dollar/Franc pair, the key levels on the H1 scale are 1.0019, 0.9970, 0.9950, 0.9926, 0.9854, 0.9836, 0.9813 and 0.9786. Here, the price forms the initial conditions for the top of December 28. The development of the ascending structure is expected after the breakdown of 0.9926, which in this case the target is 0.9950 in the range of consolidation at 0.9950 - 0.9970. The potential value for the top is considered the level of 1.0019, which we can expect after the breakdown of 0.9970.
A short-term downward movement is possible in the range of 0.9854 – 0.9836. The breakdown of the latter value will lead to a prolonged correction. Here, the goal is 0.9813. This level is a key support for the upward structure.
The main trend is the formation of the initial conditions for the top of December 28.
Trading recommendations:
Buy: 0.9926 Take profit: 0.9950
Buy: 0.9970 Take profit: 1.0010
Sell: 0.9854 Take profit: 0.9838
Sell: 0.9834 Take profit: 0.9815
For the Dollar/Yen pair, the key levels on the scale are 109.30, 108.95, 108.46, 107.61, 107.33, 106.99 and 106.63. Here, we are following the formation of the ascending structure of January 3 on the scale of M30. The continuation of the upward movement is expected after the breakdown of 108.46, which in this case the target is 108.95, near the consolidation level. The potential value for the top is considered the level of 109.30, from which we can expect a downward rollback.
A short-term downward movement is possible in the range of 107.61 – 107.33 and breakthrough in the last value will lead to in-depth correction. Here, the goal is 106.99, which is the key support level for the top.
The main trend is the formation of the ascending structure of January 3.
Trading recommendations:
Buy: 108.46 Take profit: 108.90
Buy: 108.97 Take profit: 109.30
Sell: 107.60 Take profit: 107.40
Sell: 107.30 Take profit: 107.00
For the Canadian dollar/ US Dollar pair, the key levels on the H1 scale are 1.3589, 1.3543, 1.3516, 1.3421, 1.3395 and 1.3320. Here, we are following the formation of the downward structure of December 31. At the moment, we expect a move to the level of 1.3421 in the range of 1.3421 - 1.3395 for short-term downward movement. Hence, the probability of going into a correction. The breakdown of the level of 1.3395 should be accompanied by a pronounced move towards the potential target at 1.3320.
Short-term upward movement is possible in the range of 1.3516 – 1.3543. The breakdown of the latter value will lead to a deep correction. Here the target is 1.3589 which is the key support level for the downward structure. At the moment, we expect a move to the level of 1.3421 in the range of 1.3421 - 1.3395 for short-term downward movement. Hence, the probability of going into a correction. The breakdown of the level of 1.3395 should be accompanied by a pronounced move towards the potential target at 1.3320.
The main trend is the formation of a downward structure of December 31.
Trading recommendations:
Buy: 1.3516 Take profit: 1.3540
Buy: 1.3545 Take profit: 1.3576
Sell: 1.3421 Take profit: 1.3395
Sell: 1.3390 Take profit: 1.3325
For the Australian dollar/US dollar pair, the key levels on the H1 scale are 0.7153, 0.7084, 0.7059, 0.7034, 0.6990, 0.6963 and 0.6925. Here, we are following the ascending structure of January 3. A short-term upward movement is expected in the rang of 0.7034 – 0.7059. The breakdown of the latter value will lead to the movement to the level of 0.7084, which is near the consolidation level. For now, the potential value for the top is considered to be the level of 0.7153, which we can expect after the breakdown of 0.7090.
A short-term downward movement is possible in the range of 0.6990 – 0.6963. The breakdown of the latter value will lead to a prolonged correction. Here, the target is 0.6925, which is the key support level for the upward structure.
The main trend is the ascending structure of January 3.
Trading recommendations:
Buy: 0.7034 Take profit: 0.7055
Buy: 0.7060 Take profit: 0.7082
Sell: 0.6990 Take profit: 0.6965
Sell: 0.6960 Take profit: 0.6935
For the Euro/Yen pair, the key levels on the H1 scale are 125.15, 124.22, 123.74, 122.65, 122.29, 121.68 and 120.76. Here, we follow the formation of the ascending structure from January 3. A short-term upward movement is possible in the range of 123.74 – 124.22. The breakdown of the latter value will lead to a pronounced movement to the potential target of 125.15, from this level we can expect a downward rollback.
Short-term downward movement is possible in the range of 122.65 - 122.30, the breakdown of the latter value will lead to a prolonged correction, here the goal is 121.70, which is the key support level for the upward structure.
The main trend is the formation of the ascending structure of January 3.
Trading recommendations:
Buy: 13.74 Take profit: 124.20
Buy: 124.25 Take profit: 125.15
Sell: 122.65 Take profit: 122.30
Sell: 122.26 Take profit: 121.80
For the Pound/Yen pair, the key levels on the H1 scale are 139.49, 138.07, 137.08, 135.68, 135.18, 134.26 and 132.84. Here, we follow the formation of the ascending structure from January 3. An upward movement is expected after the breakdown of 137.08, in this case, the target is 138.07, which is near the consolidation level. A breakout at 138.10 should be accompanied by a pronounced upward movement to the potential target of 139.49, which is near the consolidation level.
A short-term downward movement is possible in the range of 135.68 – 135.18. The breakdown of the latter value will lead to in-depth correction. Here, the goal is 134.26, which is the key support level for the top.
The main trend is the formation of the ascending structure of January 3.
Trading recommendations:
Buy: 137.10 Take profit: 138.00
Buy: 138.10 Take profit: 139.40
Sell: 135.68 Take profit: 135.20
Sell: 135.12 Take profit: 134.50
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