Fractal analysis of major currency pairs on November 1

Dear colleagues.

For the Euro / Dollar currency pair, we are following the downward trend from October 16. At the moment, there is a high probability of a movement in the correction. For the currency pair Pound / Dollar, the price is in the correction of the downward structure. For the Dollar / Franc currency pair, we should continue the development of the upward cycle of October 23 after the breakdown of 1.0097. For the currency pair Dollar / Yen, we are following the development of the upward cycle of October 26 and we expect further upward movement after the breakdown of 113.46. For the Euro / Yen currency pair, we monitor the initial conditions for the top of October 26 and the development of this structure is expected after the breakdown of 128.86. For the currency pair Pound / Yen, we watch the initial conditions of October 26 and the development of which is expected after the breakdown of 144.76.

Forecast for November 1:

Analytical review of H1-scale currency pairs:

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For the Euro / Dollar currency pair, the key levels on the H1 scale are: 1.1474, 1.1433, 1.1386, 1.1351, 1.1299, 1.1269 and 1.1209. Here, we continue to follow the development of the downward cycle of October 16. The short-term downward movement is expected in the range of 1.1299 - 1.1269 and hence there is a high probability of a turn up. The potential value for the bottom is considered the level of 1.1209 and the movement to which is expected after the breakdown of 1.1267.

The short-term uptrend is possible in the range of 1.1351 - 1.1386 and the breakdown of the latter will lead to the development of a protracted correction. Here, the goal is 1.1433 and this level is the key support for the downward structure. Its price passage will have to form the initial conditions for the upward cycle. In this case, the key goal is 1.1474.

The main trend is the downward structure of October 16.

Trading recommendations:

Buy 1.1351 Take profit: 1.1384

Buy 1.1388 Take profit: 1.1432

Sell: 1.1299 Take profit: 1.1270

Sell: 1.1267 Take profit: 1.1213

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For the Pound / Dollar currency pair, the key levels on the H1 scale are: 1.2979, 1.2909, 1.2866, 1.2802, 1.2696 and 1.2651. Here, the price is in the area of correction from the downward structure on October 12. The short-term downward movement, as well as consolidation are possible in the range of 1.2696 - 1.2651.

The breakdown of the level 1.2802 will lead to the development of the correction movement. Here, the first target is 1.2866 and in the range of 1.2866 - 1.2909 is the consolidation. The breakdown of the level of 1.2909 will begin forming the initial conditions for the upward cycle. In this case, the first potential target is 1.2979.

The main trend is the downward cycle of October 12, the stage of correction.

Trading recommendations:

Buy: 1.2802 Take profit: 1.2864

Buy: 1.2910 Take profit: 1.2976

Sell: 1.2696 Take profit: 1.2655

Sell: Take profit:

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For the Dollar / Franc currency pair, the key levels on the H1 scale are: 1.0177, 1.0143, 1.0123, 1.0097, 1.0064, 1.0044 and 1.0015. Here, we continue to monitor the ascending cycle of October 23. The upward movement is expected after the breakdown of 1.0097. In this case, the target is 1.0123 and in the range of 1.0123 - 1.0143 is the price consolidation. The potential value for the top is considered the level of 1.0177, upon reaching which we expect a rollback to the correction.

The short-term downward movement is possible in the range of 1.0064 - 1.0044 and the breakdown of the latter value will lead to a prolonged correction. Here, the goal is 1.0015 and this level is the key support for the upward trend.

The main trend is a local ascending cycle of October 23.

Trading recommendations:

Buy: 1.0098 Take profit: 1.0123

Buy: 1.0124 Take profit: 1.0140

Sell: 1.0064 Take profit: 1.0046

Sell: 1.0042 Take profit: 1.0018

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For the Dollar / Yen currency pair, the key levels on the scale of H1 are: 114.48, 114.21, 113.77, 113.46, 113.01, 112.80 and 112.44. Here, we are following the development of the ascending cycle of October 26. The short-term upward movement is expected in the range of 113.46 - 113.77 and the breakdown of the last value should be accompanied by a pronounced upward movement. Here, the goal is 114.21. The potential value for the top is considered the level of 114.48, after reaching which we expect a rollback downwards.

The short-term downward movement, as well as the consolidation, are possible in the range of 113.01 - 112.80 and the breakdown of the latter value will lead to a prolonged correction. Here, the goal is 112.44 and this level is the key support for the upward structure.

The main trend: the ascending cycle of October 26.

Trading recommendations:

Buy: 113.46 Take profit: 113.75

Buy: 113.80 Take profit: 114.20

Sell: 113.00 Take profit: 112.82

Sell: 112.78 Take profit: 112.49

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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, we are following the local structure for the top of October 24th. 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 of 1.3060 will lead to a prolonged correction. Here, the target is 1.3021.

The main trend is the local structure of October 24.

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

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For the Australian dollar / dollar currency pair, the key levels on the H1 scale are: 0.7189, 0.7167, 0.7136, 0.7110, 0.7062, 0.7040 and 0.7017. Here, we continue to monitor the formation of the ascending structure of October 26. The short-term upward movement is possible in the range of 0.7110 - 0.7136 and the breakdown of the latter value will lead to a pronounced movement. Here, the target is 0.7167. The potential value for the top is considered to be the level of 0.7189, after reaching which we expect consolidation.

The short-term upward movement is possible in the range of 0.7062 - 0.7040 and the breakdown of the latter value will lead to the cancellation of the ascending structure from October 26. In this case, the first target is 0.7017.

The main trend is the formation of potential for the top of October 26.

Trading recommendations:

Buy: 0.7110 Take profit: 0.7134

Buy: 0.7138 Take profit: 0.7165

Sell: 0.7060 Take profit: 0.7040

Sell: 0.7038 Take profit: 0.7017

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For the Euro / Yen currency pair, the key levels on the H1 scale are: 130.55, 129.93, 129.50, 128.86, 128.58, 128.08, 127.78 and 127.40. Here, we set the price for the expressed initial conditions for the upward cycle of October 26. The movement upwards is expected after the price passes the range of 128.58 - 128.86. In this case, the target is 129.50 and in the range of 129.50 - 129.93 is the short-term upward movement, as well as consolidation. The potential value for the top is considered the level of 130.55.

The short-term downward movement is possible in the range of 128.08 - 127.78 and the breakdown of the last value will lead to a prolonged correction. Here, the goal is 127.40 and this level is the key support for the top.

The main trend is the initial conditions for the upward cycle of October 26.

Trading recommendations:

Buy: 128.86 Take profit: 129.50

Buy: 129.55 Take profit: 129.90

Sell: 128.08 Take profit: 127.80

Sell: 127.74 Take profit: 127.44

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For the Pound / Yen currency pair, the key levels on the H1 scale are: 146.39, 146.03, 145.28, 144.76, 143.84, 143.19 and 142.24. Here, the price forms a pronounced potential for the top of October 26 in the correction of the downward trend. The short-term downward movement, as well as consolidation is possible in the range of 143.84 - 143.19 and the breakdown of the latter value will lead to the movement to the potential target of 142.24, upon reaching this level, we expect a rollback to the top.

The short-term uptrend is possible in the range of 144.76 - 145.28 and the breakdown of the last value will lead to a prolonged correction. Here, the target is 146.03 and the range of 146.03 - 146.39 is the key support for the downward structure. We are waiting for the initial conditions for the top to reach it.

The main trend - the formation of potential for the top of October 26.

Trading recommendations:

Buy: 144.76 Take profit: 145.26

Buy: 145.32 Take profit: 146.03

Sell: 143.84 Take profit: 143.22

Sell: 143.16 Take profit: 142.30

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