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Fractal analysis of major currency pairs for November 14

Dear colleagues.

For the currency pair Euro / Dollar, the price forms a pronounced potential for an upward movement of 12 November. For the currency pair Pound / Dollar, the price forms the initial conditions for the top of November 12 and the level of 1.2878 is the key support. For the currency pair Dollar / Franc, the price is in a deep correction from the rising structure on November 7. For the currency pair Dollar / Yen, we are following the development of the upward trend from October 26 and we expect the continuation of the upward movement after the breakdown of 114.21. For the currency pair Euro / Yen, the price forms the potential for the top of November 13 and the range of 129.00 - 129.17 is the key resistance for the top. For the currency pair Pound / Yen, we are watching the formation of the potential for the top on November 13 and the level of 146.58 is the key support.

Forecast for November 14:

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: 1.1403, 1.1375, 1.1353, 1.1322, 1.1293, 1.1273 and 1.1243. Here, the price forms the potential for the top of November 12. The upward movement is expected after the breakdown of 1.1322. In this case, the target is 1.1353 and in the range of 1.1353 - 1.1375 is the price consolidation. The potential value for the top is considered the level of 1.1403, upon reaching which we expect a rollback downwards.

The short-term downward movement is possible in the range of 1.1293 - 1.1273 and the breakdown of the last value will lead to an in-depth correction. Here, the goal is 1.1243 and this level is the key support for the upward structure. Its breakdown will have to continue the downward trend. In this case, the first goal is 1.1212.

The main trend is the formation of potential for the top of November 12.

Trading recommendations:

Buy 1.1322 Take profit: 1.1350

Buy 1.1355 Take profit: 1.1375

Sell: 1.1293 Take profit: 1.1275

Sell: 1.1270 Take profit: 1.1248

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For the Pound / Dollar currency pair, the key levels on the H1 scale are: 1.3273, 1.3215, 1.3130, 1.3061, 1.2966, 1.2928 and 1.2878. Here, the price forms the potential for the top of November 12. The upward movement is expected after the breakdown of 1.3061. In this case, the target is 1.3130 and the price consolidation is near this level. The breakdown of the level of 1.3130 should be accompanied by a pronounced upward movement. Here, the target is 0.3215. The potential value for the top is considered the level of 1.3273, upon reaching which we expect a rollback downwards.

The short-term downward movement is possible in the range of 1.2966 - 1.2928 and the breakdown of the last value will lead to a prolonged correction. Here, the goal is 1.2878 and this level is the key support for the upward structure. The breakdown will have to follow the downward movement. In this case, the first goal is 1.2824.

The main trend is the formation of the initial conditions for the top of November 12.

Trading recommendations:

Buy: 1.3061 Take profit: 1.3126

Buy: 1.3133 Take profit: 1.3215

Sell: 1.2966 Take profit: 1.2930

Sell: 1.2926 Take profit: 1.2880

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For the Dollar / Franc currency pair, the key levels on the H1 scale are: 1.0186, 1.0150, 1.0134, 1.0111, 1.0065 and 1.0043. Here, we are following the rising structure of November 7. At the moment, the price is in a deep correction. The upward movement is expected after the breakdown of the level of 1.0111. In this case, the target is 1.0134 and in the range of 1.0134 - 1.0150 is the price consolidation. The potential value for the top is considered the level of 1.0186, upon reaching which we expect a rollback downwards.

The short-term downward movement is possible in the range of 1.0065 - 1.0043, hence a high probability of a reversal upwards. The breakdown of the level of 1.0043 will lead to the cancellation of the development of the upward trend and in this case, we expect the initial conditions for the downward cycle.

The main trend is the upward cycle of November 7, a deep correction.

Trading recommendations:

Buy: 1.0111 Take profit: 1.0134

Buy: 1.0152 Take profit: 1.0184

Sell: Take profit:

Sell: 1.0063 Take profit: 1.0045

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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 upward cycle from October 26. At the moment, the price is in the correction area. 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, the correction zone.

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

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For the Canadian dollar / Dollar currency pair, the key levels on the H1 scale are: 1.3363, 1.3314, 1.3279, 1.3215, 1.3190 and 1.3151. At the moment, we expect to move to the level of 1.3279 and the breakdown of which will lead to a short-term uptrend to the level of 1.3314. In this range is the price consolidation. The potential value for the top is considered the level of 1.3363, upon reaching which we expect a rollback downwards.

The short-term downward movement is possible in the range of 1.3215 - 1.3190, hence a high probability of a reversal upwards. The breakdown of the level of 1.3190 will lead to a prolonged correction. In this case, the target is 1.3151.

The main trend is the local rising structure of November 7.

Trading recommendations:

Buy: 1.3280 Take profit: 1.3312

Buy: 1.3316 Take profit: 1.3360

Sell: 1.3215 Take profit: 1.3194

Sell: 1.3188 Take profit: 1.3155

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For the currency pair Australian dollar / Dollar, the key levels on the H1 scale are: 0.7292, 0.7273, 0.7258, 0.7238, 0.7204, 0.7191, 0.7175 and 0.7157. Here, we are following the development of the downward structure from November 8. At the moment, the price forms the potential for the top from November 13. A continuation of the upward trend development is expected after the breakdown of 0.7238. In this case, the target is 0.7258 and in the range of 0.7258 - 0.7273 is the short-term upward movement, as well as consolidation. The potential value for the top is considered to be the level of 0.7292, upon reaching which we expect a rollback downwards.

The short-term downward movement is possible in the range of 0.7204 - 0.7191 and the breakdown of the latter value will lead to a prolonged correction. Here, the target is 0.7175 and this level is the key resistance for continuing downward movement.

The main trend is the downward cycle of November 8, the formation of potential for the top in the correction.

Trading recommendations:

Buy: 0.7240 Take profit: 0.7258

Buy: 0.7259 Take profit: 0.7272

Sell: 0.7204 Take profit: 0.7192

Sell: 0.7190 Take profit: 0.7177

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For the Euro / Yen currency pair, the key levels on the H1 scale are: 129.63, 129.17, 129.00, 128.23, 127.98, 127.22, 126.95 and 126.41. Here, we are following the downward cycle of November 8. At the moment, the price is in deep correction and forms the potential for the top. The passage of the range of 129.00 - 129.17 will lead to the cancellation of the downward structure. In this case, the potential target is 129.63.

The short-term downward movement is possible in the range of 128.23 - 127.98. The breakdown of the latter value should be accompanied by a pronounced movement to the level of 127.22 and in the range of 127.22 - 126.95 is the short-term downward movement, as well as consolidation. The potential value for the bottom is considered the level of 126.41.

The main trend is the downward cycle of November 8, the stage of deep correction.

Trading recommendations:

Buy: 129.20 Take profit: 129.60

Buy: Take profit:

Sell: 128.23 Take profit: 128.00

Sell: 127.93 Take profit: 127.30

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For the Pound / Yen currency pair, the key levels on the H1 scale are: 151.16, 150.50, 149.52, 148.74, 147.55, 146.99, 146.58 and 145.91. Here, the price forms the potential for the top of November 13. The continuation of the movement upward is expected after the breakdown of 148.74. In this case, the goal is 149.52, up to this level, we expect the formation of a pronounced initial structure. The breakdown of the level of 149.52 should be accompanied by a pronounced upward movement. Here, the target is 150.50. The potential value for the top is considered the level of 151.16.

We expect a departure in the correction after the breakdown of 147.55. In this case, the target is 146.99 and the range of 146.99 - 146.58 is the key support for the top. Its price will have to develop a downward structure. In this case, the target is 145.91.

The main trend is the formation of potential for the top of November 13.

Trading recommendations:

Buy: 148.76 Take profit: 149.50

Buy: 149.56 Take profit: 150.50

Sell: 147.55 Take profit: 147.00

Sell: 146.58 Take profit: 145.95

The material has been provided by InstaForex Company - www.instaforex.com