Forecast for November 6:
Analytical review of currency pairs on the scale of H1:
For the euro / dollar pair, the key levels on the H1 scale are: 1.1108, 1.1091, 1.1080, 1.1061, 1.1045, 1.1034 and 1.1008. Here, the price has canceled the development of the upward structure and at the moment, we are following the development of the downward cycle of November 4. The continuation of movement to the bottom is expected after the breakdown of the level of 1.1061. In this case, the target is 1.1045. Price consolidation is in the range of 1.1045 - 1.1034. For the potential value for the bottom, we consider the level of 1.1008. Upon reaching which, we expect a pullback to the top.
Short-term upward movement is expected in the range of 1.1080 - 1.1091. The breakdown of the latter value will lead to an in-depth correction. Here, the goal is 1.1108. This level is a key support for the downward structure.
The main trend is the downward structure of November 4.
Trading recommendations:
Buy: 1.1080 Take profit: 1.1090
Buy: 1.1092 Take profit: 1.1106
Sell: 1.1060 Take profit: 1.1045
Sell: 1.1032 Take profit: 1.1010
For the pound / dollar pair, the key levels on the H1 scale are: 1.3148, 1.3102, 1.3037, 1.2986, 1.2947, 1.2868 and 1.2804. Here, we monitor the initial conditions for the top of October 29. At the moment, the price is in the correction zone. The continuation of the movement to the top is possibly after the breakdown of the level of 1.2947. Here, the first goal is 1.2986. The breakdown of the level of 1.2986 will lead to the development of an upward cycle of October 29. In this case, the target is 1.3037, wherein consolidation is near this level. The breakdown of the level of 1.3040 should be accompanied by a pronounced upward movement. Here, the target is 1.3102. For the potential value for the top, we consider the level of 1.3148. Upon reaching which, we expect consolidation, as well as a pullback to the bottom.
Consolidated movement is expected in the range of 1.2910 - 1.2868. Hence, the high probability of a reversal to the top, as well as a breakdown of the level of 1.2868 will lead to the development of a downward trend. In this case, the potential target is 1.2804.
The main trend is the upward structure of October 29, the correction stage
Trading recommendations:
Buy: 1.2947 Take profit: 1.2985
Buy: 1.2986 Take profit: 1.3035
Sell: Take profit:
Sell: 1.2865 Take profit: 1.2805
For the dollar / franc pair, the key levels on the H1 scale are: 1.0025, 1.0001, 0.9968, 0.9939, 0.9912, 0.9900 and 0.9879. Here, the price has canceled the development of the downward trend and at the moment, we are following the formation of the medium-term upward structure from November 1. The continuation of the movement to the top is expected after the breakdown of the level of 0.9940. In this case, the target is 0.9968. Price consolidation is near this level. The breakdown of the level of 0.9968 will lead to a pronounced movement. Here, the target is 1.0001. We consider the level of 1.0025 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 of 0.9912 - 0.9900. The breakdown of the last value will lead to an in-depth correction. Here, the target is 0.9879. This level is a key support for the upward structure.
The main trend is the medium-term upward structure from November 1
Trading recommendations:
Buy : 0.9940 Take profit: 0.9966
Buy : 0.9970 Take profit: 1.0000
Sell: 0.9912 Take profit: 0.9900
Sell: 0.9898 Take profit: 0.9880
For the dollar / yen pair, the key levels on the scale are : 109.86, 109.66, 109.41, 109.24, 109.03, 108.89 and 108.67. Here, we continue to monitor the development of the upward cycle of November 1. Short-term upward movement is expected in the range of 109.24 - 109.41. The breakdown of the last value will lead to a pronounced movement. Here, the target is 109.66. For the potential value for the top, we consider the level of 109.86. Upon reaching this level, we expect consolidation, as well as a pullback to the bottom.
Short-term downward movement is expected in the range of 109.03 - 108.89. The breakdown of the last value will lead to an in-depth correction. Here, the target is 108.67. This level is a key support for the upward structure.
The main trend: the upward cycle of November 1.
Trading recommendations:
Buy: 109.25 Take profit: 109.40
Buy : 109.42 Take profit: 109.65
Sell: 109.03 Take profit: 108.90
Sell: 108.87 Take profit: 108.67
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, we monitor the medium-term upward structure from October 29, and also from November 5, the price issued local initial conditions for the top. 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. At the moment, the price is in correction. 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.
Consolidated 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, the correction stage.
Trading recommendations:
Buy: 0.6910 Take profit: 0.6928
Buy: 0.6938 Take profit: 0.6959
Sell : Take profit :
Sell: 0.6873 Take profit: 0.6855
For the euro / yen pair, the key levels on the H1 scale are: 121.46, 121.17, 121.00, 120.74, 120.22, 119.83, 119.55 and 119.38. Here, we monitor the downward potential of October 30. At the moment, the price is in the correction zone. The continuation of movement to the bottom is expected after the breakdown of the level of 120.22. In this case, the first goal is 119.83, before this value, we expect expressed initial conditions for the downward cycle. The breakdown of the level of 119.80 will lead to the development of the cycle. In this case, the goal is 119.55. Price consolidation is in the range of 119.55 - 119.38.
Consolidated movement is expected in the range of 120.74 - 121.00, The range of 121.00 - 121.17 is the key support for the descending structure of October 30. Its passage at a price will lead to the development of an upward trend. Here, the goal is 121.46.
The main trend is the downward potential of October 30.
Trading recommendations:
Buy: Take profit:
Buy: 121.18 Take profit: 121.44
Sell: 120.20 Take profit: 119.85
Sell: 119.80 Take profit: 119.55
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
