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Dear colleagues.

For the currency pair Euro / Dollar, the price is close to the abolition of the rising structure of October 31, for which a breakdown of 1.1344 is necessary. For the currency pair Pound / Dollar, the price is in the correction and the upward movement is possible after the breakdown of 1.3174. For the currency pair Dollar / Franc, we are following the formation of the upward potential of November 7. For the currency pair Dollar / Yen, we are following the development of the upward trend from October 26. For the Euro / Yen currency pair, we follow the ascending structure of October 26 and we expect a further upward movement after the breakdown of 130.05. For the currency pair Pound / Yen, the price is near the limiting values for the ascending structure of October 26, and therefore, we expect a departure to the correction after the breakdown of 148.16.

Forecast for November 9:

Analytical review of H1-scale currency pairs:

Exchange Rates 09.11.2018 analysis

For the Euro / Dollar currency pair, the key levels on the H1 scale are: 1.1582, 1.1538, 1.1508, 1.1470, 1.1344 and 1.1299. Here, the price is close to cancellation of the ascending structure of October 31, for which a breakdown of the level of 1.1344 is necessary. In this case, the first target is 1.1299. We will determine the subsequent targets for the downward movement from the initial structure on November 7. The continuation of the upward movement is expected after the breakdown of 1.1424. In this case, the first target is 1.1470 and the breakdown of which will allow us to count on the movement to the level of 1.1508. The breakdown of the level of 1.1508 will lead to the movement to the level of 1.1538, near this value is the price consolidation. The potential value for the top is considered the level of 1.1582, upon reaching which we expect a rollback downwards.

The main trend is the ascending structure of October 31, the stage of deep correction.

Trading recommendations:

Buy 1.1425 Take profit: 1.1470

Buy 1.1470 Take profit: 1.1505

Sell: 1.1342 Take profit: 1.1300

Sell: Take profit:

Exchange Rates 09.11.2018 analysis

For the Pound / Dollar currency pair, the key levels on the H1 scale are: 1.3350, 1.3259, 1.3174, 1.3090, 1.3035 and 1.2938. Here, we are following the rising structure of October 30. At the moment, the price is in the correction. The upward movement is expected after the breakdown of 1.3174. In this case, the target is 1.3259 and price consolidation is near this level. The potential value for the top is considered the level of 1.3350, upon reaching which we expect a rollback downwards.

The short-term downward movement, as well as consolidation are possible in the range of 1.3090 - 1.3035 and the breakdown of the latter value will lead to a prolonged correction. Here, the target is 1.2938 and this level is the key support for the top.

The main trend is the ascending structure of October 30, the stage of correction.

Trading recommendations:

Buy: 1.3174 Take profit: 1.3257

Buy: 1.3260 Take profit: 1.3350

Sell: 1.3090 Take profit: 1.3038

Sell: 1.3032 Take profit: 1.2944

Exchange Rates 09.11.2018 analysis

For the Dollar / Franc currency pair, the key levels on the H1 scale are: 1.0150, 1.0134, 1.0105, 1.0087, 1.0076, 1.0045, 1.0028 and 0.9999. Here, we are following the rising structure of November 7th. The movement upwards is expected after the price passes the range of 1.0076 - 1.0087. In this case, the target is 1.0105, and consolidation is near this level. The breakdown of the level of 1.0105 should be accompanied by a pronounced upward movement. Here, the goal is 1.0134. The potential value for the top is considered the level of 1.0150, upon reaching which we expect a rollback downwards.

The short-term downward movement is possible in the range of 1.0045 - 1.0028 and the breakdown of the latter value will lead to a prolonged correction. Here, the target is 0.9999.

The main trend is the initial structure for the top of November 7.

Trading recommendations:

Buy: 1.0087 Take profit: 1.0105

Buy: 1.0108 Take profit: 1.0134

Sell: 1.0045 Take profit: 1.0030

Sell: 1.0026 Take profit: 1.0000

Exchange Rates 09.11.2018 analysis

For the Dollar / Yen currency pair, the key levels on the scale of H1 are: 115.01, 114.48, 114.21, 113.77, 113.46 and 112.99. Here, we are following the development of the ascending cycle of October 26. The short-term upward movement is expected in the range of 114.21 - 114.48 and the breakdown of the latter value should be accompanied by a pronounced upward movement. Here, the potential target is 115.01, after reaching which we expect a downward rollback.

The short-term downward movement is possible in the range of 113.77 - 113.46 and the breakdown of the last value will lead to a prolonged correction. Here, the goal is 112.99, up to this level, we expect the initial conditions for the downward cycle.

The main trend is the ascending cycle of October 26.

Trading recommendations:

Buy: 114.21 Take profit: 114.46

Buy: 114.50 Take profit: 115.00

Sell: 113.75 Take profit: 113.50

Sell: 113.44 Take profit: 113.15

Exchange Rates 09.11.2018 analysis

For the Canadian dollar / Dollar currency pair, the key levels on the H1 scale are: 1.3269, 1.3222, 1.3191, 1.3168, 1.3089, 1.3060 and 1.3021. Here, the situation is still in equilibrium. The upward movement is expected after the price passes the range of 1.3168 - 1.3191. In this case, the first target is 1.3222 and consolidation is near this level. The potential value for the top is considered the level of 1.3269, upon reaching which we expect a rollback to the correction.

The short-term downward movement is possible in the range of 1.3089 - 1.3060, hence a high probability of a reversal upwards. The breakdown of the level 1.3060 will lead to a prolonged correction. Here, the target is 1.3021.

The main trend is the equilibrium situation.

Trading recommendations:

Buy: 1.3191 Take profit: 1.3220

Buy: 1.3224 Take profit: 1.3269

Sell: 1.3089 Take profit: 1.3062

Sell: 1.3058 Take profit: 1.3024

Exchange Rates 09.11.2018 analysis

For the currency pair Australian dollar / Dollar, the key levels on the H1 scale are: 0.7344, 0.7313, 0.7288, 0.7260, 0.7238 and 0.7209. Here, we are following the rising structure of October 26. The continuation of the upward movement is expected after the breakdown of 0.7288. In this case, the target is 0.7313, from this level is the likelihood of a downward rollback is high. We consider the level of 0.7344 to be a potential value for an uptrend, upon reaching which we expect a departure to a correction.

The short-term downward movement is possible in the range of 0.7260 - 0.7238 and the breakdown of the latter value will lead to a prolonged correction. Here, the target is 0.7209 and this level is the key support for the top.

The main trend is the upward cycle of October 26.

Trading recommendations:

Buy: 0.7288 Take profit: 0.7110

Buy: 0.7115 Take profit: 0.7342

Sell: 0.7260 Take profit: 0.7240

Sell: 0.7236 Take profit: 0.7212

Exchange Rates 09.11.2018 analysis

For the Euro / Yen currency pair, the key levels on the H1 scale are: 131.60, 130.86, 130.48, 130.05, 129.48, 129.16 and 128.56. Here, we continue to monitor the ascending structure of October 26. The upward movement is expected after breakdown of 130.05. In this case, the goal is 130.48 and in the range of 130.48 - 130.86 is the short-term upward movement, as well as consolidation. The potential value for the top is considered the level of 131.60 and the movement to which is expected after the breakdown of 130.90.

The short-term downward movement is possible in the range of 129.48 - 129.16 and the breakdown of the last value will lead to a prolonged correction. Here, the goal is 128.56 and this level is the key support for the top.

The main trend is the upward structure of October 26.

Trading recommendations:

Buy: 130.05 Take profit: 130.45

Buy: 130.53 Take profit: 130.82

Sell: 129.48 Take profit: 129.20

Sell: 129.10 Take profit: 128.60

Exchange Rates 09.11.2018 analysis

For the Pound / Yen currency pair, the key levels on the H1 scale are: 148.16, 147.51, 147.02 and 146.22. Here, we are not considering further targets for the upward movement, and we expect a rollback to correction to take place, which should occur after the breakdown of 148.16. In this case, the first target is 147.51. The short-term downward movement is possible in the range of 147.51 - 147.02 and the breakdown of the latter value will lead to the movement to the level of 146.22 and design of the expressed initial conditions for the downward cycle.

The main trend is the upward cycle from October 26, we expect to go into correction.

Trading recommendations:

Buy: Take profit:

Buy: Take profit:

Sell: 148.16 Take profit: 147.55

Sell: 147.46 Take profit: 147.04

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

Performed by Daichi Takahashi,
Analytical expert
InstaForex Group © 2007-2018
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