Forecast for October 6:
Analytical review of currency pairs on the scale of H1:
For the euro / dollar pair, the key levels on the H1 scale are: 1.1091, 1.1069, 1.1058, 1.1039, 1.1000, 1.0986, 1.0966 and 1.0939. Here, we continue to consider the local ascending structure of October 8 as a reference. The continuation of the movement to the top is expected after the breakdown of the level of 1.1039. In this case, the target is 1.1058. Price consolidation is in the range of 1.1058 - 1.1069. We consider the level of 1.1091 to be a potential value for the top; upon reaching this level, we expect a pullback to the bottom.
Short-term downward movement is possibly in the range 1.1000 - 1.0986. The breakdown of the last value will lead to a long correction. Here, the target is 1.0966. This level is a key support for the top. Its passage at the price will lead to the development of a downward movement. In this case, the target is 1.0939.
The main trend is the medium-term upward structure from October 1, the local structure from October 8.
Trading recommendations:
Buy: 1.1040 Take profit: 1.1058
Buy 1.1070 Take profit: 1.1090
Sell: 1.1000 Take profit: 1.0987
Sell: 1.0984 Take profit: 1.0966
For the pound / dollar pair, the key levels on the H1 scale are: 1.3033, 1.2906, 1.2810, 1.2678, 1.2625 and 1.2532. Here, we are following the development of the upward cycle of October 9. The continuation of the movement to the top is expected after the breakdown of the level of 1.2810. In this case, the target is 1.2906. Price consolidation is near this level. The breakdown of the level of 1.2906 should be accompanied by a pronounced upward movement. Here, the potential target is 1.3033.
Short-term downward movement is expected in the range of 1.2678 - 1.2625. The breakdown of the last value will lead to an in-depth correction. Here, the target is 1.2532. This level is a key support for the top.
The main trend is the upward structure of October 9.
Trading recommendations:
Buy: 1.2810 Take profit: 1.2904
Buy: 1.2908 Take profit: 1.3030
Sell: 1.2678 Take profit: 1.2625
Sell: 1.2623 Take profit: 1.2534
For the dollar / franc pair, the key levels on the H1 scale are: 1.0054, 1.0033, 1.0018, 0.9999, 0.9950, 0.9934, 0.9892 and 0.9872. Here, we are following the ascending structure of October 10. The development of this structure is expected after the breakdown of the level of 0.9999. In this case, the target is -1.0018. Price consolidation is in the range of 1.0018 - 1.0033. For the potential value for the top, we consider the level of 1.0054. Upon reaching which, we expect a pullback to the bottom.
Short-term downward movement, as well as consolidation, are possible in the range 0.9950 - 0.9934. The breakdown of the latter value will favor the development of a downward structure from October 3. In this case, the first goal is 0.9892.
The main trend is the descending structure of October 3, the formation of the potential for the top of October 10.
Trading recommendations:
Buy : 0.9999 Take profit: 1.0018
Buy : 1.0035 Take profit: 1.0054
Sell: 0.9950 Take profit: 0.9936
Sell: 0.9931 Take profit: 0.9894
For the dollar / yen pair, the key levels on the scale are : 109.66, 109.33, 108.90, 108.72, 108.24, 108.02 and 107.67. Here, we are following the development of the upward cycle of October 4. Short-term upward movement is expected in the range 108.72 - 108.90. The breakdown of the latter value will lead to a movement to the level of 109.33. Price consolidation is near this level. For the potential value for the top, we consider the level of 109.66. Upon reaching this level, we expect a consolidated movement, as well as a pullback to the bottom.
Short-term downward movement is expected in the range of 108.24 - 108.02. The breakdown of the last value will lead to an in-depth correction. Here, the goal is 107.67. This level is a key support for the top.
The main trend: the upward cycle of October 4.
Trading recommendations:
Buy: 108.90 Take profit: 109.30
Buy : 109.34 Take profit: 109.65
Sell: 108.24 Take profit: 108.03
Sell: 108.00 Take profit: 107.70
For the Canadian dollar / US dollar pair, the key levels on the H1 scale are: 1.3251, 1.3223, 1.3209, 1.3177, 1.3223, 1.3251 and 1.3279. Here, we are following the development of the downward cycle of October 10. At the moment, the price is in correction. The continuation of movement to the bottom is expected after the breakdown of the level of 1.3177. In this case, the target is 1.3158. Price consolidation is in range of 1.3158 - 1.3142. For the potential value for the bottom, we consider the level of 1.3107. The movement to which is expected after the breakdown of the level of 1.3140.
Short-term upward movement is possibly in the range of 1.3223 - 1.3251. The breakdown of the latter value will lead to the formation of initial conditions for the upward cycle. In this case, the first potential target is 1.3279.
The main trend is the downward cycle of October 10.
Trading recommendations:
Buy: 1.3226 Take profit: 1.3250
Buy : 1.3253 Take profit: 1.3276
Sell: 1.3177 Take profit: 1.3158
Sell: 1.3140 Take profit: 1.3110
For the Australian dollar / US dollar pair, the key levels on the H1 scale are : 0.6810, 0.6788, 0.6770, 0.6759, 0.6731, 0.6710, 0.6694, 0.6674 and 0.6661. Here, we are following the formation of the descending structure of October 11. The continuation of the movement to the bottom is expected after the breakdown of the level of 0.6730. In this case, the target is 0.6710. Short-term downward movement, as well as consolidation is in the range of 0.6710 - 0.6694. The breakdown of the level of 0.6694 should be accompanied by a pronounced downward movement to the potential target - 0.6674. Price consolidation is in the range of 0.6674 - 0.6661, and from here, we expect a pullback in correction.
Short-term upward movement is possibly in the range of 0.6759 - 0.6770. The breakdown of the latter value will lead to an in-depth correction. Here, the target is 0.6788. This level is a key support for the downward structure. Its passage in price will lead to the development of the upward structure. Here, the first potential target is 0.6810.
The main trend is the formation of the downward movement of October 11.
Trading recommendations:
Buy: 0.6770 Take profit: 0.6786
Buy: 0.6790 Take profit: 0.6810
Sell : 0.6730 Take profit : 0.6710
Sell: 0.6709 Take profit: 0.6696
For the euro / yen pair, the key levels on the H1 scale are: 121.34, 121.03, 120.61, 120.28, 119.92, 119.64, 119.08 and 118.75. Here, the price formed a local structure for the upward movement of October 15. The continuation of the movement to the top is expected after the breakdown of the level of 120.28. In this case, the target is 120.61. Price consolidation is near this level. The breakdown of the level of 120.61 should be accompanied by a pronounced upward movement. Here, the goal is 121.03. For the potential value for the top, we consider the level of 121.34. Upon reaching this level, we expect consolidation, as well as a rollback to the correction.
Short-term downward movement is possibly in the range of 119.92 - 119.64. The breakdown of the last value will have the downward structure formation. Here, the first potential target is 119.08.
The main trend is the local ascending structure of October 15.
Trading recommendations:
Buy: 120.28 Take profit: 120.60
Buy: 120.63 Take profit: 121.00
Sell: 119.90 Take profit: 119.66
Sell: 119.60 Take profit: 119.20
For the pound / yen pair, the key levels on the H1 scale are : 142.82, 140.89, 139.53, 137.79, 137.08, 136.05 and 135.47. Here, we are following the development of the upward cycle of October 8. The continuation of the movement to the top is expected after the breakdown of the level of 139.55. In this case, the target is 140.89. Price consolidation is near this level. The breakdown of the level of 140.92 will lead to the development of a pronounced movement. In this case, the potential goal is 142.82. Upon reaching which we expect consolidation, as well as a pullback to the bottom.
Short-term downward movement is possibly in the range of 137.79 - 137.08. The breakdown of the last value will lead to a long correction. Here, the target is 136.05. The range 136.05 - 135.47 is the key support for the top.
The main trend is the medium-term upward structure of October 8.
Trading recommendations:
Buy: 139.55 Take profit: 140.85
Buy: 141.00 Take profit: 142.80
Sell: 137.77 Take profit: 137.08
Sell: 137.05 Take profit: 136.05
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