Forecast for May 24:
Analytical review of H1-scale currency pairs:
For the euro / dollar pair, the key levels on the H1 scale are: 1.1269, 1.1248, 1.1217, 1.1206, 1.1191, 1.1167, 1.1154 and 1.1136. Here, the price forms the potential initial conditions for the upward movement of May 23. Continuation of the movement to the top,is expected after the breakdown at 1.1191. In this case, the goal is 1.1206. Consolidation is near this level. The price passage of the noise range 1.1206 - 1.1217 must be accompanied by a pronounced upward movement. In this case, the target is 1.1248. The potential value for the top is considered at the level of 1.1269. After which, we expect a rollback to the bottom.
Short-term downward movement is possible in the range 1.1167 - 1.1154. The breakdown of the latter value will lead to a prolonged correction. Here, the target is 1.1136. This level is a key support to the top.
The main trend is the formation of initial conditions for the top of May 23.
Trading recommendations:
Buy 1.1191 Take profit: 1.1206
Buy 1.1218 Take profit: 1.1246
Sell: 1.1167 Take profit: 1.1155
Sell: 1.1153 Take profit: 1.1136
For the pound / dollar pair, the key levels on the H1 scale are: 1.2811, 1.2737, 1.2693, 1.2612, 1.2553, 1.2478 and 1.2428. Here, we continue to monitor the local structure of May 21. Continuation of the movement to the bottom is expected after the breakdown at 1.2612. Here, the target is -1.2553. The breakdown of which must be accompanied by a pronounced downward movement. In this case, the target is 1.2478. We consider the level of 1.2428 as a potential value at the bottom. Upon reaching this level, we expect consolidation in the corridor 1.2478 - 1.2428, as well as a departure to a correction.
Short-term upward movement is possible in the corridor 1.2693 - 1.2737. The breakdown of the latter value will have to form an upward movement. Here, the target is 1.2811.
The main trend is a local downward structure of May 21.
Trading recommendations:
Buy: 1.2693 Take profit: 1.2735
Buy: 1.2738 Take profit: 1.2810
Sell: 1.2612 Take profit: 1.2555
Sell: 1.2550 Take profit: 1.2478
For the dollar / frank pair, the key levels on the H1 scale are: 1.0086, 1.0062, 1.0045, 1.0023, 1.0010, 0.9991 and 0.9978. Here, we are following the formation of the downward structure of May 22. Continuation of the movement to the bottom is expected after the price passes the noise range 1.0023 - 1.0010. In this case, the target is 0.9991. The potential value for the bottom is at the level of 0.9978. After reaching which, we expect a consolidation.
Short-term upward movement is possible in the corridor 1.0045 - 1.0062. Breaking the last value will lead to a prolonged correction. Here, the goal is 1.0086. This level is a key support for the downward structure.
The main trend - the development of the downward structure of May 22, we expect the registration of large initial conditions.
Trading recommendations:
Buy : 1.0045 Take profit: 1.0060
Buy : 1.0062 Take profit: 1.0086
Sell: 1.0010 Take profit: 0.9991
Sell: 0.9990 Take profit: 0.9978
For the dollar / yen pair, the key levels on the scale are : 110.21, 109.94, 109.73, 109.36, 109.14, 108.98 and 108.51. Here, the price forms the medium-term initial conditions for the downward cycle of May 21. Continuation of the movement to the bottom is expected at level 109.36 after the breakdown. In this case, the goal is 109.14. Consolidation is near this level. The price pass of the noise range of 109.14 - 108.98 should be accompanied by a pronounced downward movement. Here, the goal is 108.51. Near this level, we expect consolidation and possible rollback to the correction.
Short-term upward movement is possible in the corridor 109.73 - 109.94. The breakdown of the latter value will lead to in-depth correction. Here, the goal is 110.21. This level is the key support for the downward cycle.
The main trend: the formation of medium-term initial conditions for the downward cycle of May 21.
Trading recommendations:
Buy: 109.73 Take profit: 109.92
Buy: 109.95 Take profit: 110.20
Sell: 109.36 Take profit: 109.15
Sell: 108.98 Take profit: 108.51
For the Canadian dollar / US dollar pair, the key levels on the H1 scale are: 1.3611, 1.3556, 1.3534, 1.3403, 1.3464, 1.3444 and 1.3409. Here, the price forms the medium-term initial conditions for the upward cycle of May 22. Continuation of the development of this structure is expected after the breakdown of 1.3503. In this case, the goal is 1.3534. Consolidation is near this level. The price passage of the noise range 1.3534 - 1.3556 should be accompanied by a pronounced upward movement. Here, the potential target is 1.3611.
Short-term downward movement is possible in the corridor 1.3464 - 1.3444. The breakdown of the latter value will lead to a prolonged correction. Here, the goal is 1.3409. This level is a key support for the top.
The main trend is the formation of medium-term initial conditions for the upward cycle of May 22.
Trading recommendations:
Buy: 1.3503 Take profit: 1.3534
Buy : 1.3556 Take profit: 1.3610
Sell: 1.3464 Take profit: 1.3445
Sell: 1.3442 Take profit: 1.3412
For the Australian dollar / US dollar pair, the key levels on the H1 scale are : 0.6932, 0.6917, 0.6901, 0.6891, 0.6861, 0.6848, 0.6838, 0.6813 and 0.6795. Here, we continue to monitor the formation of local initial conditions for the downward movement of May 20. Continuation of the movement to the bottom is expected after the breakdown of 0.6861. Here, the target is 0.6848. Consolidation is near this level. Passing through the noise range 0.6848 - 0.6838 will lead to the development of a pronounced movement. In this case, the target is 0.6813. For potential value at the bottom, the level of 0.6795 is considered. After reaching which, we expect a rollback to the top.
Short-term upward movement, perhaps, is in the range of 0.6891 - 0.6901. The breakdown of the latter value will lead to a prolonged movement. Here, the goal is 0.6917. This level is a key support for the downward structure.
The main trend is the formation of a local descending structure of May 20.
Trading recommendations:
Buy: 0.6891 Take profit: 0.6900
Buy: 0.6903 Take profit: 0.6916
Sell : 0.6860 Take profit : 0.6848
Sell: 0.6838 Take profit: 0.6815
For the euro / yen pair, the key levels on the H1 scale are: 123.29, 122.92, 122.72, 122.12, 121.76, 121.54 and 120.96. Here, the price forms the expressed initial conditions for the downward cycle of May 21. Continuation of the movement to the bottom is expected after the breakdown of 122.12. In this case, the goal is 121.76. Consolidation is near this level. Short-term downward movement is in the corridor 121.76 - 121.54. The breakdown of the last value will allow to count on the movement towards a potential target - 120.96. From this level, we expect a rollback to the top.
Short-term upward movement is possible in the corridor 122.72 - 122.92. The breakdown of the latter value will lead to a prolonged correction. Here, the goal is 123.29. This level is a key support for the downward structure.
The main trend is the formation of medium-term initial conditions for the downward cycle of May 21.
Trading recommendations:
Buy: 122.72 Take profit: 122.90
Buy: 122.93 Take profit: 123.25
Sell: 122.12 Take profit: 121.78
Sell: 121.74 Take profit: 121.55
For the pound / yen pair, the key levels on the H1 scale are : 140.18, 139.51, 139.14, 138.70, 138.36, 137.49 and 136.85. Here, we are following the development of the downward structure of May 21. Continuation of the movement to the bottom is expected after the passage of the price of the noise range 138.70 - 138.36. In this case, the goal is 137.49. Consolidation is near this level. Potential value for the bottom is considered at the level of 136.85. After reaching which, we expect to go into a correction.
Short-term upward movement is possible in the corridor 139.14 - 139.51. The breakdown of the latter value will lead to a prolonged correction. Here, the goal is 140.18. This level is a key support for the downward structure.
The main trend is a local downward structure of May 21.
Trading recommendations:
Buy: 139.15 Take profit: 139.50
Buy: 139.55 Take profit: 140.10
Sell: 138.34 Take profit: 135.55
Sell: 137.46 Take profit: 136.90
