Forecast for October 31:
Analytical review of currency pairs in scale H1:
For the euro / dollar pair, the key levels on the H1 scale are: 1.1207, 1.1187, 1.1178, 1.1161, 1.1143, 1.1132 and 1.1115. Here, we are following the formation of medium-term initial conditions for the top of October 29. The continuation of the movement to the top is expected after the breakdown of the level of 1.1161. In this case, the target is 1.1187. Price consolidation is in the range of 1.1187 - 1.1178. For the potential value for the top, we consider the level of 1.1207. Upon reaching this value, we expect a pullback to the bottom.
Short-term downward movement is expected in the range 1.1143 - 1.1132. The breakdown of the last value will lead to an in-depth correction. Here, the goal is 1.1115. This level is a key support for the upward structure.
The main trend is the formation of medium-term initial conditions for the top of October 29.
Trading recommendations:
Buy: 1.1161 Take profit: 1.1178
Buy: 1.1188 Take profit: 1.1207
Sell: 1.1143 Take profit: 1.1133
Sell: 1.1131 Take profit: 1.1115
For the pound / dollar pair, the key levels on the H1 scale are: 1.3215, 1.3141, 1.3033, 1.2939, 1.2810, 1.2734 and 1.2625. Here, the price has entered an equilibrium state. The continuation of the movement to the top is expected after the breakdown of the level of 1.2959. In this case, the first target is 1.3035. The breakdown of the level of 1.3035 will lead to a pronounced upward movement. Here, the potential target is 1.3141. Price consolidation is in the range of 1.3141 - 1.3215.
We expect consolidated movement in the range of 1.2877 - 1.2810. The breakdown of the last value will lead to an in-depth correction. Here, the target is 1.2715. This level is a key support for the top. Its breakdown will lead to the formation of potential for the downward cycle. Here, the goal is 1.2625.
The main trend is the equilibrium state.
Trading recommendations:
Buy: 1.2960 Take profit: 1.3031
Buy: 1.3035 Take profit: 1.3140
Sell: 1.2808 Take profit: 1.2717
Sell: 1.2713 Take profit: 1.2627
For the dollar / franc pair, the key levels on the H1 scale are: 0.9913, 0.9901, 0.9892, 0.9879. 0.9871, 0.9857 and 0.9837. Here, we are following the development of the descending structure of October 28. Short-term movement to the bottom is expected in the range of 0.9879 - 0.9871. The breakdown of the latter value will lead to a movement to the level of 0.9857. Price consolidation is near this level. For the potential value for the bottom, we consider the level of 0.9837. Upon reaching this level, we expect a pullback to the top.
Short-term upward movement is possibly in the range of 0.9892 - 0.9901. The breakdown of the last value will lead to an in-depth correction. Here, the goal is 0.9913. This level is a key support for the downward structure.
The main trend is the descending structure of October 28.
Trading recommendations:
Buy : 0.9892 Take profit: 0.9900
Buy : 0.9903 Take profit: 0.9913
Sell: 0.9870 Take profit: 0.9858
Sell: 0.9855 Take profit: 0.9838
For the dollar / yen pair, the key levels on the scale are : 109.58, 109.39, 109.29, 109.13, 108.85, 108.72 and 108.53. Here, we are following the development of the upward cycle of October 23. The continuation of the movement to the top is expected after the breakdown of the level of 109.13. In this case, the target is 109.29. Price consolidation is in the range of 109.29 - 109.39. For the potential value for the top, we consider the level of 109.58, upon reaching which, we expect a pullback to the bottom.
Short-term downward movement is expected in the range of 108.85 - 108.72. The breakdown of the last value will lead to an in-depth correction. Here, the target is 108.53. This level is a key support for the top.
Main trend: local structure for the top of October 23.
Trading recommendations:
Buy: 109.13 Take profit: 109.29
Buy : 109.40 Take profit: 109.56
Sell: 108.85 Take profit: 108.74
Sell: 108.70 Take profit: 108.55
For the Canadian dollar / US dollar pair, the key levels on the H1 scale are: 1.3268, 1.3246, 1.3208, 1.3185, 1.3143, 1.3124 and 1.3101. Here, the price forms the long-term initial conditions for the upward cycle of October 29. Short-term movement to the top is expected in the range of 1.3185 - 1.3208. The breakdown of the latter value will lead to a pronounced movement. Here, the target is 1.3246. For the potential value for the top, we consider the level of 1.3268. Upon reaching this level, we expect a pullback to the bottom.
Short-term downward movement is possibly in the range of 1.3143 - 1.3124. The breakdown of the latter value will lead to an in-depth correction. Here, the target is 1.3101. This level is a key support for the upward structure.
The main trend is the formation of initial conditions for the top of October 29.
Trading recommendations:
Buy: 1.3185 Take profit: 1.3206
Buy : 1.3209 Take profit: 1.3246
Sell: 1.3143 Take profit: 1.3126
Sell: 1.3122 Take profit: 1.3101
For the Australian dollar / US dollar pair, the key levels on the H1 scale are : 0.6959, 0.6938, 0.6928, 0.6910, 0.6888, 0.6874 and 0.6854. Here, we are following the development of the local upward cycle of October 28. The continuation of the movement to the top is expected after the breakdown of the level of 0.6910. In this case, the target is 0.6928. Price consolidation is in the range of 0.6928 - 0.6938. For the potential value for the top, we consider the level of 0.6959. Upon reaching this level, we expect a pullback to the bottom.
Short-term downward movement is possibly in the range of 0.6888 - 0.6874. The breakdown of the latter value will lead to an in-depth correction. Here, the target is 0.6854. This level is a key support for the top.
The main trend is the local structure for the top of October 28.
Trading recommendations:
Buy: 0.6910 Take profit: 0.6928
Buy: 0.6938 Take profit: 0.6959
Sell : 0.6888 Take profit : 0.6875
Sell: 0.6873 Take profit: 0.6855
For the euro / yen pair, the key levels on the H1 scale are: 122.52, 122.17, 121.79, 121.58, 121.23, 121.03 and 120.77. Here, we are following the development of the ascending structure of October 25. Short-term upward movement is expected in the range 121.58 - 121.79. The breakdown of the latter value should be accompanied by a pronounced upward movement. In this case, the target is 122.17. Price consolidation is near this level. For the potential value for the top, we consider the level of 122.52. Upon reaching this value, we expect a pullback to the bottom.
We expect a short-term downward movement in the range of 121.23 - 121.03. The breakdown of the last value will lead to an in-depth correction. Here, the goal is 120.77. This level is a key support for the top.
The main trend is the upward structure of October 25.
Trading recommendations:
Buy: 121.58 Take profit: 121.78
Buy: 121.81 Take profit: 122.17
Sell: 121.23 Take profit: 121.04
Sell: 121.02 Take profit: 120.78
For the pound / yen pair, the key levels on the H1 scale are : 142.82, 141.23, 139.53, 138.70, 137.79 and 137.08. Here, the price is still in the equilibrium. The continuation of movement to the top is expected after the breakdown of the level of 141.23. In this case, the potential target is 142.82. Upon reaching which, we expect consolidation, as well as a pullback to the bottom.
Short-term downward movement, as well as consolidation, are possible in the range of 139.53 - 138.70. The breakdown of the last value will lead to a long correction. Here, the target is 137.79. The range of 137.79 - 137.08 is the key support for the top.
The main trend is the medium-term upward structure of October 8, the formation of potential for the downward movement of October 21.
Trading recommendations:
Buy: Take profit:
Buy: 141.25 Take profit: 142.80
Sell: 139.50 Take profit: 138.75
Sell: 138.65 Take profit: 137.80
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