Forecast for May 20:
Analytical review of H1-scale currency pairs:
For the euro / dollar pair, the key levels on the H1 scale are: 1.1222, 1.1212, 1.1197, 1.1184, 1.1156, 1.1144 and 1.1112. Here, we continue to follow the development of the downward structure of May 13. Short-term downward movement is expected in the range of 1.1156 - 1.1144. The breakdown of the last value should be accompanied by a pronounced downward movement. In this case, the potential target is 1.1112. We expect a rollback to the top from this level.
Short-term ascending movement is possible in the range of 1.1184 - 1.1197. The breakdown of the latter value will lead to a prolonged correction. Here, the goal is 1.1212. The range of 1.1212 - 1.1222 is a key support for the downward movement.
The main trend is the downward structure of May 13.
Trading recommendations:
Buy 1.1184 Take profit: 1.1195
Buy 1.1198 Take profit: 1.1210
Sell: 1.1156 Take profit: 1.1145
Sell: 1.1142 Take profit: 1.1116
For the pound / dollar pair, the key levels on the H1 scale are: 1.2840, 1.2802, 1.2773, 1.2733, 1.2693, 1.2659 and 1.2588. Here, we continue to follow the development of the downward structure of May 3. For the continuation of the movement to the bottom, we expect the level of 1.2733 after the breakdown. In this case, the target is 1.2693. The consolidation is in the corridor of 1.2693 - 1.2659. The breakdown of the level 1.2659 will lead to the movement to the potential target - 1.2588. And upon reaching which, we expect a rollback to the top.
Short-term upward movement is possible in the corridor of 1.2773 - 1.2802. The breakdown of the latter value will lead to a prolonged correction. Here, the target is 1.2840. This level is a key support for the downward structure.
The main trend is the downward cycle of May 3.
Trading recommendations:
Buy: 1.2773 Take profit: 1.2802
Buy: 1.2804 Take profit: 1.2840
Sell: 1.2732 Take profit: 1.2694
Sell: 1.2656 Take profit: 1.2590
For the dollar / franc pair, the key levels on the H1 scale are: 1.0160, 1.0142, 1.0131, 1.0113, 1.0084, 1.0072 and 1.0048. Here, we are following the formation of the ascending structure of May 13. The continuation of the movement to the top is expected after the breakdown at the level of 1.0113. In this case, the target is 1.0131. A short-term upward movement is in the corridor 1.0131 - 1.0142, as well as consolidation. For the potential value to the top, we consider the level of 1.0160. After reaching which, we expect a rollback to the bottom.
Short-term downward movement is possible in the corridor of 1.0084 - 1.0072. The breakdown of the latter value will be made for the development of the downward structure. Here, the potential target is 1.0048. Up to this level, we expect the initial conditions for the downward cycle.
The main trend is the ascending structure of May 13.
Trading recommendations:
Buy : 1.0113 Take profit: 1.0130
Buy : 1.0142 Take profit: 1.0160
Sell: 1.0084 Take profit: 1.0073
Sell: 1.0070 Take profit: 1.0050
For the dollar / yen pair, the key levels on the scale are : 111.31, 110.98, 110.81, 110.54, 110.33, 109.96, 109.77 and 109.47. Here, we are following the development of the ascending cycle of May 13. Short-term upward movement is possible in the corridor of 110.33 - 110.54. The breakdown of the latter value should be accompanied by a pronounced upward movement. Here, the target is 110.81. Price consolidation is in the corridor of 110.81 - 110.98. For the potential value to the top, we consider the level of 111.31. The movement to which is expected after the breakdown at the level of 111.00.
Short-term downward movement is possible in the corridor of 109.96 - 109.77. The breakdown of the latter value will lead to in-depth correction. Here, the goal is 109.47. This level is a key support for the upward structure.
The main trend: the rising structure of May 13.
Trading recommendations:
Buy: 110.33 Take profit: 110.52
Buy: 110.56 Take profit: 110.80
Sell: 109.96 Take profit: 109.78
Sell: 109.75 Take profit: 109.50
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. At the moment, the price is still in the zone of initial conditions. Continuation of the movement to the top is expected after the breakdown of 1.3493. In this case, the target is 1.3511. 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 corridor of 1.3451 - 1.3434. The breakdown of the last value will lead to a prolonged correction. Here, the target is 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 : 0.6936, 0.6916, 0.6900, 0.6869, 0.6854 and 0.6835. Here, we are following the development of the downward structure of May 7. At the moment, the price is in the correction zone. Short-term downward movement is expected in the range of 0.6869 - 0.6854. Hence, there is a high probability of a turn into a correction. For the potential value of the downward trend, we consider the level of 0.6835, and the movement to which is expected after the breakdown of 0.6852.
Short-term upward movement is possible in the range of 0.6900 - 0.6916. The breakdown of the latter value will lead to a prolonged movement. Here, the goal is 0.6936. This level is a key support for the downward structure.
The main trend is the downward structure of May 7, the stage of correction.
Trading recommendations:
Buy: 0.6900 Take profit: 0.6914
Buy: 0.6917 Take profit: 0.6934
Sell : 0.6867 Take profit : 0.6855
Sell: 0.6852 Take profit: 0.6836
For the euro / yen pair, the key levels on the H1 scale are: 123.59, 123.17, 122.95, 122.50, 122.12, 121.75, 121.45 and 121.09. Here, we follow the formation of the local structure for the bottom of May 10. Continuation of the movement to the bottom is expected after the breakdown of the level of 122.50. In this case, the first target is 122.12. The breakdown of which will start the development of the downward trend on the H1 scale. Here, the target is 121.75. Short-term downward movement is in the corridor of 121.75 - 121.45, as well as consolidation. Also from this range, there is a high probability of rollback in the correction. For the potential value at the bottom, we consider the level of 121.09. After reaching which, we expect a rollback to the top.
Short-term ascending movement is expected in the corridor of 122.95 - 123.17. The breakdown of the last value will be made for the formation of the ascending structure. Here, the goal is 123.59.
The main trend is the local downward structure of May 10.
Trading recommendations:
Buy: 122.95 Take profit: 123.15
Buy: 123.20 Take profit: 123.55
Sell: 122.50 Take profit: 122.14
Sell: 122.10 Take profit: 121.75
For the pound / yen pair, the key levels on the H1 scale are : 141.05, 140.45, 140.09, 139.68, 139.15, 138.45 and 138.03. Here, we are following the development of the downward structure of May 10. Continuation of the movement to the bottom is expected after the breakdown of 139.65 In this case, the goal is 139.15. The consolidation is near this level. The breakout of the level of 139.15 will lead to a pronounced movement to the level of 138.45. From this level, there is a high probability of a turn to the top. The potential value for the bottom is considered the level of 138.03. Upon reaching which, we expect consolidation in the corridor of 138.45 - 138.03, as well as a rollback to the top.
Short-term upward movement is possible in the corridor of 140.09 - 140.45. The breakdown of the latter value will lead to a deep correction. Here, the target is 141.05. This level is a key support.
The main trend is the local downward structure of May 10.
Trading recommendations:
Buy: 140.10 Take profit: 140.45
Buy: 140.47 Take profit: 141.05
Sell: 139.66 Take profit: 139.15
Sell: 139.10 Take profit: 138.45
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