Dear colleagues.
For the Euro/Dollar pair, we follow the downward structure from May 14 and continue to its downward movement after the breakdown of 1.1750. For the Pound/Dollar pair, we follow the downward structure from May 14 and continue its downward movement after the breakdown of 1.3388. For the Dollar/Franc pair, we follow the formation of the downward structure of May 10. For the Dollar/Yen pair, the price is in the correction zone from the upward structure and the resumption of traffic to the top is expected after the breakdown of 110.98. For the Euro/Yen pair, the continuation of the upward movement on the scale of H1 is expected after the breakdown of 131.00. For the Pound/Yen pair, the upward trend from May 8 is expected after the breakdown of 150.01, currently the price is in correction.
Forecast for May 22:
Analytical review of currency pairs in the H1 scale:
For the EUR/USD pair, key levels on the scale of H1 are: 1.1928, 1.1884, 1.1835, 1.1807, 1.1751, 1.1684, 1.1640 and 1.1575. Here, we continue to follow the downward structure of May 14. Continued downward movement is expected after the breakdown of 1.1750, in this case the target is 1.1684 in the corridor of 1.1684 - 1.1640 short-term downward movement, as well as consolidation. We consider the 1.1575 level to be the potential value for the downstream structure, after which we expect a rollback to the top.
Short-term upward movement is possible in the corridor 1.1807-1.1835, the breakdown of the last value will lead to an in-depth correction. Here, the target is 1.1884 which is the major level of support for the downward structure from May 14, its breakdown will have to form the initial conditions for the upward cycle with the potential target at 1.1928.
The main trend is the local structure for the bottom of May 14.
Trading recommendations:
Buy: 1.1807 Take profit: 1.1833
Buy 1.1837 Take profit: 1.1884
Sell: 1.1748 Take profit: 1.1686
Sell: 1.1682 Take profit: 1.1642
For the Pound/Dollar pair, the key levels on the H1 scale are 1.3529, 1.3484, 1.3450, 1.3388, 1.3326, 1.3285 and 1.3229. Here, we continue to follow the downward structure of May 14. The continued downward movement is expected after the breakdown of 1.3388 with the target at 1.3326 and in the corridor of 1.3326 - 1.3285 short-term downward movement and consolidation. We consider the 1.3229 level to be a potential value for the downward trend, after which we expect a pullback to the top.
Short-term uptrend is possible in the corridor 1.3450 - 1.3484 and the breakdown of the last value will lead to an in-depth correction. Here, the target is 1.3529 which is the major support level for the downward structure.
The main trend is the downward cycle from May 14
Trading recommendations:
Buy: 1.3450 Take profit: 1.3482
Buy: 1.3486 Take profit: 1.3527
Sell: 1.3386 Take profit: 1.3328
Sell: 1.3324 Take profit: 1.3287
For the Dollar/Franc pair, the key levels on the scale of H1 are: 1.0055, 1.0027, 1.0007, 0.9955, 0.9933, 0.9918, 0.9881 and 0.9854. Here, the price forms the expressed initial conditions for the downward movement of May 10. The continuation of the downward movement is expected after the breakdown of 0.9955 with the target at 0.9933. Crossing through the price of the noise range 0.9933 - 0.9918 should be accompanied by a clear downward movement with the target at 0.9881. Potential value for the bottom is the 0.9854 level, from which a rollback to correction is expected.
Short-term upward movement is possible in the corridor 1.0007 - 1.0027, breakdown of the last value will have to form an upward structure with the initial target at 1.0055.
The main trend is the downward structure of May 10.
Trading recommendations:
Buy: 1.0007 Take profit: 1.0025
Buy: 1.0029 Take profit: 1.0055
Sell: 0.9955 Take profit: 0.9933
Sell: 0.9918 Take profit: 0.9881
For the Dollar/Yen pair, key levels on a scale are: 112.12, 111.82, 111.38, 110.96, 110.54, 110.31 and 110.02. Here, we follow the upward structure development of May 4. The continued upward movement is expected after the breakdown of 110.98 with the target at 111.38, near the consolidation. The potential value for the top is the 111.82 level, which we expect consolidation and a downward pullback upon reaching this zone in the corridor 111.82 - 112.12.
Short-term downward movement is possible in the corridor 110.54 - 110.31, breakdown of the last value will lead to in-depth correction, here the target is 110.02, this level is the key support for the top.
The main trend: the upward structure of May 4.
Trading recommendations:
Buy: 110.98 Take profit: 111.36
Buy: 111.40 Take profit: 111.80
Sell: 110.52 Take profit: 110.33
Sell: 110.28 Take profit: 110.04
For the Canadian Dollar/ US Dollar pair, the key H1 scale levels are: 1.2984, 1.2922, 1.2853, 1.2731, 1.2671 and 1.2633. Here, we follow the formation of a downward structure from May 8. The continued upward movement is expected after the breakdown of 1.2731 with the target at 1.2671 within the consolidation range of 1.2671 - 1.2633.
Short-term upward movement is possible in the range 1.2853 - 1.2922, breakdown of the last value will have to create initial conditions for the upward cycle with the potential target at 1.2984.
The main trend is the formation of a downward structure from May 8.
Trading recommendations:
Buy: 1.2855 Take profit: 1.2920
Buy: 1.2924 Take profit: 1.2982
Sell: 1.2730 Take profit: 1.2671
Sell: Take profit:
For the Australian Dollar/ US Dollar pair, key levels on the H1 scale are: 0.7711, 0.7687, 0.7650, 0.7622, 0.7557, 0.7534 and 0.7496. Here, we determined the subsequent goals for the top from the local upward structure on May 15. At the moment, we expect a move to the level of 0.7622, in the corridor 0.7622 - 0.7650 short-term upward movement. The breakdown at the 0.7650 level should be accompanied by a clear upward movement to the 0.7687 level. The potential value for the top is the 0.7711 level, which we expect a downward pullback upon reaching reaching this area.
Short-term downward movement is possible in the corridor 0.7557 - 0.7534, breakdown of the last value will lead to an in-depth correction with the target at 0.7496, this level is the key support for the upward trend.
The main trend is the local upward structure of May 15.
Trading recommendations:
Buy: 0.7624 Take profit: 0.7650
Buy: 0.7652 Take profit: 0.7685
Sell: 0.7555 Take profit: 0.7536
Sell: 0.7532 Take profit: 0.7500
For the Euro/Yen pair, the key levels on the H1 scale are: 132.26, 131.78, 131.40, 130.98, 129.61, 129.18, 128.85 and 128.15. Here, the price is in the equilibrium movement. The continuation of the traffic above is possible after the breakdown of 130.98 with the first target at 131.40, in the corridor 131.40 - 131.78 consolidation. The current potential value for the ascending structure is the 132.26 level.
The development of the downward movement from May 14 is expected after the breakdown of 129.61, with the initial target at 129.18, in the corridor 129.18 - 128.85 consolidation. The potential value for the bottom is the level 128.15, from which we expect the departure to correction.
The main trend is the equilibrium situation which shows the formation of the potential bottom of May 14.
Trading recommendations:
Buy: 131.00 Take profit: 131.40
Buy: 131.42 Take profit: 131.75
Sell: 129.60 Take profit: 129.20
Sell: 128.85 Take profit: 128.20
For the Pound/Yen pair, the key levels on the H1 scale are: 152.16, 151.36, 150.81, 150.01, 149.00, 148.35, 147.84, 147.00, 145.75 and 145.12. Here, we follow the upward structure of May 8. The continued upward movement is expected after the breakdown of 150.01, with the target at 150.81, in the corridor 150.81 - 151.36 the consolidation of the price. The potential value for the top is the level 152.16, which we expect a departure to correction upon reaching this area.
We expect the departure to the correction zone after the breakdown at 149.00, in this case the target is 148.35. Short-term downward movement is possible in the corridor 148.35 - 147.84, breakdown of the last value will have to develop a downward structure with the target at 147.00, near the consolidation level.
The main trend is the upward structure of May 8.
Trading recommendations:
Buy: 150.05 Take profit: 150.80
Buy: 150.84 Take profit: 151.30
Sell: 149.00 Take profit: 148.40
Sell: 147.80 Take profit: 147.00
* The presented market analysis is informative and does not constitute a guide to the transaction.
