Forecast for January 7:
Analytical review of currency pairs on the scale of H1:
For the euro / dollar pair, the key levels on the H1 scale are: 1.1255, 1.1238, 1.1220, 1.1198, 1.1173, 1.1158, 1.1141 and 1.1123. Here, the subsequent development of the ascending structure of January 3 is expected after the breakdown of the level of 1.1198. In this case, the target is 1.1220. Price consolidation is near this level. The breakdown of the level of 1.1220 will allow you to count on movement to the level of 1.1238. For the potential value for the top, we consider the level of 1.1255. Upon reaching which, we expect a correction.
A short-term downward movement is possibly in the range of 1.1173 - 1.1158. The breakdown of the latter value will lead to an in-depth correction. Here, the target is 1.1141. This level is a key support for the top. Its passage at the price will lead to the development of a downward structure. In this case, the first goal is 1.1123.
The main trend is the upward structure of January 3.
Trading recommendations:
Buy: 1.1199 Take profit: 1.1220
Buy: 1.1222 Take profit: 1.1238
Sell: 1.1173 Take profit: 1.1160
Sell: 1.1156 Take profit: 1.1141
For the pound / dollar pair, the key levels on the H1 scale are: 1.3417, 1.3338, 1.3282, 1.3199, 1.3097, 1.3061 and 1.3006. Here, we are following the development of the ascending structure of December 23. At the moment, the price is in the zone of initial conditions. The continuation of the movement to the top is expected after the breakdown of the level of 1.3200. In this case, the target is 1.3282. Short-term upward movement, as well as consolidation is in the range of 1.3282 - 1.3338. For the potential value for the top, we consider the level of 1.3417. Upon reaching which, we expect a pullback to the bottom.
Consolidated movement is possibly in the range of 1.3097 - 1.3061. The breakdown of the latter value will lead to an in-depth correction. Here, the target is 1.3006. This level is a key support for the top.
The main trend is the upward structure of December 23
Trading recommendations:
Buy: 1.3200 Take profit: 1.3280
Buy: 1.3283 Take profit: 1.3336
Sell: 1.3097 Take profit: 1.3061
Sell: 1.3058 Take profit: 1.3008
For the dollar / franc pair, the key levels on the H1 scale are: 0.9822, 0.9798, 0.9766, 0.9738, 0.9698, 0.9678 and 0.9644. Here, the price forms the potential for the upward movement of December 31 in the correction of the downward cycle of December 24. The continuation of the movement to the top is expected after the breakdown of the level of 0.9738. In this case, the target is 0.9766. Price consolidation is near this level. The breakdown of the level of 0.9766 will lead to a pronounced movement. In this case, the target is 0.9798. For the potential value for the top, we consider the level of 0.9822. Upon reaching which, we expect consolidation, as well as a pullback to the bottom.
Consolidated movement is possibly in the range of 0.9698 - 0.9678. The breakdown of the latter value will have the downward structure. In this case, the first target is 0.9644.
The main trend is the descending cycle of December 24, the correction stage
Trading recommendations:
Buy : 0.9738 Take profit: 0.9764
Buy : 0.9767 Take profit: 0.9796
Sell: 0.9698 Take profit: 0.9678
Sell: 0.9676 Take profit: 0.9645
For the dollar / yen pair, the key levels on the scale are : 109.05, 108.76, 108.54, 108.17, 107.95, 107.70, 107.27 and 107.11. Here, the price forms the potential for the top of January 3. Short-term upward movement is expected in the range of 108.54 - 108.76. The breakdown of the latter value will allow us to count on movement to a potential target - 109.05. We expect consolidation near this level.
Short-term downward movement is possibly in the range 108.17 - 107.95. The breakdown of the last value will lead to the subsequent development of the downward movement of January 2. Here, the first goal is 107.70.
The main trend: a local descending structure of January 2; the formation of potential for the top of January 3
Trading recommendations:
Buy: 108.55 Take profit: 108.74
Buy : 108.77 Take profit: 109.05
Sell: 108.17 Take profit: 107.97
Sell: 107.93 Take profit: 107.70
For the Canadian dollar / US dollar pair, the key levels on the H1 scale are: 1.3058, 1.3045, 1.3019, 1.3000, 1.2950 and 1.2924. Here, we are following the development of the local descending structure of December 23. The continuation of movement to the bottom is expected after the breakdown of the level of 1.2950. In this case, the target is 1.2924. We expect a key reversal to the correction from this level.
Short-term upward movement is possibly in the range of 1.3000 - 1.3019. The breakdown of the latter value will lead to an in-depth correction. Here, the target is 1.3045. The range 1.3045 - 1.3058 is a key support for the downward structure. We expect the initial conditions for the upward cycle to be formed before it.
The main trend is the local descending structure of December 23
Trading recommendations:
Buy: 1.3005 Take profit: 1.3017
Buy : 1.3020 Take profit: 1.3045
Sell: 1.2950 Take profit: 1.2926
Sell: Take profit:
For the Australian dollar / US dollar pair, the key levels on the H1 scale are : 0.7007, 0.6980, 0.6964, 0.6923, 0.6905, 0.6867 and 0.6851. Here, we consider the descending structure of December 31 as a medium-term structure. Short-term downward movement is expected in the range 0.6923 - 0.6905. The breakdown of the latter value will lead to a pronounced movement. Here, the target is 0.6867. We consider the level of 0.6851 to be a potential value for the bottom. Upon reaching this level, we expect a pullback to the top.
Short-term upward movement is expected in the range 0.6964 - 0.6980. The breakdown of the latter value will lead to an in-depth correction. Here, the target is 0.7007. This level is a key support for the descending structure of December 31.
The main trend is the descending structure of December 31
Trading recommendations:
Buy: 0.6964 Take profit: 0.6980
Buy: 0.6982 Take profit: 0.7005
Sell : 0.6923 Take profit : 0.6907
Sell: 0.6903 Take profit: 0.6868
For the euro / yen pair, the key levels on the H1 scale are: 122.12, 121.85, 121.47, 121.10, 120.89, 120.64 and 120.13. Here, the price forms a pronounced potential for the top of January 3. The continuation of the movement to the top is expected after the breakdown of the level of 121.47. In this case, the goal is 121.85. We consider the level of 122.12 as a potential value for the ascending structure. We expect a consolidated movement near this level.
Short-term downward movement is possibly in the range of 121.10 - 120.89. The breakdown of the last value will lead to an in-depth correction. Here, the goal is 120.64. This level is a key support for the upward structure.
The main trend is the formation of potential for the top of January 3
Trading recommendations:
Buy: 121.48 Take profit: 121.83
Buy: 121.86 Take profit: 122.12
Sell: 121.10 Take profit: 120.90
Sell: 120.87 Take profit: 120.65
For the pound / yen pair, the key levels on the H1 scale are : 144.56, 143.96, 143.54, 142.95, 142.22, 141.75 and 140.66. Here, the price registered the expressed potential for the top of January 3 in the area of the descending structure on December 31. The continuation of the development of the upward trend is expected after the breakdown of the level of 142.95. In this case, the target is 143.54. Price consolidation is in the range of 143.54 - 143.96. For the potential value for the top, we consider the level of 144.56. Upon reaching this level, we expect a pullback to the bottom.
Short-term downward movement is possibly in the range of 142.22 - 141.75. The breakdown of the latter value will lead to the development of a downward trend. In this case, the first potential target is 140.66.
The main trend is the descending structure of December 31, the formation of the upward potential of January 3.
Trading recommendations:
Buy: 142.95 Take profit: 143.54
Buy: 143.97 Take profit: 144.55
Sell: 142.20 Take profit: 141.76
Sell: 141.70 Take profit: 140.70
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