Forecast for May 16:
Analytical review of H1-scale currency pairs:
For the euro / dollar pair, the key levels on the H1 scale are: 1.1236, 1.1222, 1.1212, 1.1184, 1.1172, 1.1156 and 1.1146. Here, after the abolition of the upward trend, we are following the development of the downward structure of May 13. Short-term downward movement is expected in the range of 1.1184 - 1.1172. The breakdown of the latter value will lead to a pronounced movement. Here, the goal is the level of 1.1156. We consider the level of 1.1146 to be a potential value for the bottom. Upon reaching this level, we expect consolidation as well as a rollback to the top.
Short-term upward movement is possible in the range of 1.1212 - 1.1222. The breakdown of the latter value will lead to a prolonged correction. Here, the goal is the level of 1.1236. This level is a key support for the downward movement.
The main trend is the downward structure of May 13.
Trading recommendations:
Buy 1.1212 Take profit: 1.1222
Buy 1.1223 Take profit: 1.1234
Sell: 1.1184 Take profit: 1.1173
Sell: 1.1170 Take profit: 1.1156
For the pound / dollar pair, the key levels on the H1 scale are: 1.2935, 1.2903, 1.2880, 1.2835, 1.2802, 1.2781 and 1.2733. Here, we continue to follow the development of the downward structure from May 3. The continuation of the movement to the bottom is expected after the breakdown of the level of 1.2835. In this case, the goal is the level of 1.2802. Meanwhile, in the range of of 1.2802 - 1.2781, there is a consolidation. The breakdown of the level of 1.2780 will lead to the movement to the potential target - 1.2733. Upon reaching which, we expect a rollback to the top.
Short-term upward movement is possible in the range of 1.2880 - 1.2903. The breakdown of the latter value will lead to a prolonged correction. Here, the target is the level of 1.2935. This level is a key support for the downward structure.
The main trend is the downward cycle of May 3rd.
Trading recommendations:
Buy: 1.2880 Take profit: 1.2900
Buy: 1.2904 Take profit: 1.2935
Sell: 1.2835 Take profit: 1.2802
Sell: 1.2780 Take profit: 1.2735
For the dollar / franc pair, the key levels on the H1 scale are: 1.0124, 1.0095, 1.0075, 1.0045, 1.0017 and 0.9981. Here, we continue to follow the development of the downward structure of May 7. At the moment, the price is in the correction and forms the potential for the top of May 13. Continuation of the movement to the bottom is expected after the breakdown of the level of 1.0045. In this case, the first goal is the level of 1.0017, wherein consolidation is near this level. For the potential value for the bottom, we consider the level of 0.9981. After reaching which, we expect a rollback to the top.
Consolidated movement is possible in the range of 1.0075 - 1.0095. The breakdown of the latter value will lead to a prolonged movement. Here, the target is the level of 1.0124. This level is a key support for the downward structure.
The main trend is the downward structure of May 7.
Trading recommendations:
Buy : 1.0075 Take profit: 1.0093
Buy : 1.0097 Take profit: 1.0124
Sell: 1.0045 Take profit: 1.0017
Sell: 1.0015 Take profit: 0.9988
For the dollar / yen pair, the key levels on the scale are : 110.17, 109.92, 109.70, 109.26, 109.01, 108.77 and 108.30. Here, we continue to monitor the local downward structure of May 3. At the moment, the price is in correction and forms the potential value for the top of May 13. Continuation of the movement to the bottom is expected after the breakdown of the level of 109.26. In this case, the first goal is the level of 109.01. Short-term downward movement is possible in the range of 109.01 - 108.77. The breakdown of the latter value will allow to expect movement towards a potential target - 108.30. After reaching which, we expect a rollback to the top.
Short-term upward movement is expected in the range of 109.70 - 109.92. The breakdown of the last value will have to form the initial conditions for the upward cycle. In this case, the potential target is the level of 110.17.
The main trend: a local downward structure of May 3, the formation of a potential for the top of May 13.
Trading recommendations:
Buy: 109.70 Take profit: 109.90
Buy: 109.94 Take profit: 110.17
Sell: 109.26 Take profit: 109.05
Sell: 109.00 Take profit: 108.78
For the Canadian dollar / US dollar pair, the key levels on the H1 scale are: 1.3568, 1.3526, 1.3511, 1.3493, 1.3451, 1.3434, 1.3415 and 1.3378. Here, we are following the formation of the ascending structure of May 10. Continuation of the movement to the top is expected after the breakdown of the level of 1.3493. In this case, the target is the level of 1.3511, wherein consolidation is near this level. The price pass of the noise range 1.3511 - 1.3526 should be accompanied by a pronounced upward movement to the potential target - 1.3568. From this level, we expect a rollback to the bottom.
Consolidated movement is possible in the range of 1.3451 - 1.3434. The breakdown of the last value will lead to a prolonged correction. Here, the target is the level of 1.3415. This level is a key support for the top.
The main trend is the formation of the ascending structure of May 10, the stage of initial conditions.
Trading recommendations:
Buy: 1.3493 Take profit: 1.3510
Buy : 1.3526 Take profit: 1.3566
Sell: 1.3433 Take profit: 1.3417
Sell: 1.3412 Take profit: 1.3385
For the pair Australian dollar / US Dollar, the key levels on the H1 scale are : 0.6986, 0.6968, 0.6959, 0.6948, 0.6928, 0.6916 and 0.6894. Here, we are following the development of the downward structure of May 7th. Short-term downward movement is expected in the range of 0.6928 - 0.6916. For the potential value for the downward trend, we consider the level of 0.6894. The movement to which is expected after the breakdown of the level of 0.6916.
Care in the correction is possible after the breakdown of the level of 0.6948. Here, the goal is the level of 0.6959. Short-term upward movement is expected in the range of 0.6959 - 0.6968. The breakdown of the latter value will have to form an ascending structure. In this case, the potential target level is 0.6986.
The main trend is the downward structure of May 7.
Trading recommendations:
Buy: 0.6948 Take profit: 0.6959
Buy: 0.6970 Take profit: 0.6984
Sell : 0.6926 Take profit : 0.6916
Sell: 0.6914 Take profit: 0.6896
For the euro / yen pair, the key levels on the H1 scale are: 123.59, 123.26, 123.05, 122.50, 122.32, 121.92, 121.80 and 121.51. Here, we follow the formation of the local structure for the bottom of May 10th. Continuation of the movement to the bottom is expected after the passage of the price of the noise range 122.50 - 122.32. In this case, the first goal is the level of 121.92. Meanwhile, in the range of 121.92 - 121.80, there is a consolidation. For the potential value for the bottom, we consider the level of 121.51. After reaching which, we expect a rollback to the top.
Short-term upward movement is expected in the range of 123.05 - 123.26. The breakdown of the last value will have to form an upward structure. In this case, the first target is the level of 123.59. We consider the level of 123.93 to be a potential value for the top, to which we expect the registration of expressed initial conditions.
The main trend is the local downward structure of May 10.
Trading recommendations:
Buy: 123.05 Take profit: 123.24
Buy: 123.28 Take profit: 123.59
Sell: 122.30 Take profit: 121.94
Sell: 121.80 Take profit: 121.51
For the pound / yen pair, the key levels on the H1 scale are : 141.88, 141.33, 140.97, 140.23, 139.68, 139.15 and 138.45. Here, we are following the development of the downward structure of May 10th. Continuation of the movement to the bottom is expected after the breakdown of the level of 140.23. In this case, the goal is the level of 139.68, wherein consolidation is near this level. The breakout of the level of 139.68 will lead to the movement to the level of 139.15. From this level, there is a high probability of a reversal to the top. For the potential value for the bottom, we consider the level of 138.45. After reaching which, we expect a rollback to the top.
Short-term upward movement is possible in the range of 140.97 - 141.33. The breakdown of the latter value will lead to in-depth correction. Here, the target is the level of 141.88. This level is a key support.
The main trend is the local downward structure of May 10.
Trading recommendations:
Buy: 140.97 Take profit: 141.31
Buy: 141.34 Take profit: 141.88
Sell: 140.22 Take profit: 139.70
Sell: 139.66 Take profit: 139.15
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