Bank of the United States shared the idea of earning a weak dollar

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The US dollar will soon decline against the British pound and the euro area currency. This forecast was shared by analysts Morgan Stanley and told why under such circumstances, it is more profitable to sell one European currency against another.

The dollar will weaken due to the fact that the level of political uncertainty in the UK and the eurozone will decrease. The Brexit agreement is likely to be reached in November.

According to the American bank, the growth rate of sterling against the dollar will be higher than the rate of increase in the euro / dollar pair. In this regard, the cost of a pair of euro / pound will go down.

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These expectations will help to benefit, Morgan Stanley advises selling the euro against the British pound. A short position in a pair of euro / pound in terms of risk looks most attractive because the volatility of this cross rate is weaker.

The above recommendation may not work in case of breakdown of the Brexit negotiations, experts warn. In this scenario, the risk premium in pounds will increase.

Note that on November 23, the main European officials intend to discuss the "divorce" of Great Britain with the EU. The Times report said that an agreement could be reached as early as next week. This suggests the existence of a draft treaty, which can be approved in the EU. In this case, good news will arrive on Tuesday or Wednesday.

It is possible that European officials will find the project unprofitable, so traders will be cautious.

As soon as the deal is announced, the sterling will show a rally. A pair of pound / dollar can soar to the mark of 1.34.

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Canada disputes US changes to USMCA text

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In September, negotiations on the revision of the terms of the agreement on the North American free trade area USMCA (formerly NAFTA) between the USA, Canada, and Mexico were completed. After a long period of disputes, the parties were able to resolve the main issues, and the agreement should be signed on the 30th of November. However, Ottawa reports that the United States is attempting to change the text of the updated agreement, without consulting either the Canadian or the Mexican side.

Representatives of Canada argue that a number of points set forth in the agreement by the Americans no longer correspond to the results that the parties were able to reach after 13 months of negotiations. This is unlikely to lead to the termination of the transaction, but this moment still demonstrates the existence of strong tensions between Canada, the United States, and Mexico.

In particular, Canada agreed that the province of British Columbia would lift the ban on the sale of foreign wine products in local supermarkets. The United States attempted to independently expand this item by promoting sales of American wines in the provinces of Ontario and Quebec.

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Experts: Gold has a good chance for growth

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Analysts of the French bank Natixis believe that in the future, gold will have an excellent opportunity to grow against the background of a slowdown in the rise of the American economy and a weakening dollar.

"We believe that the deterioration of economic indicators in the United States and the depreciation of the US currency will be the main factors that will increase the price of precious metals," experts said.

They expect that next year, the average gold price could be $ 1,275 per ounce, and in 2020, $ 1,300 per ounce.

A similar point of view is held by experts of the American bank Wells Fargo.

"Largely due to the correction in the stock markets, the gold rate was able to show an increase of 2% in October. Then investors used the precious metal as a defensive asset to wait out the turbulent period on the stock market," representatives of the financial institution said.

"We believe that gold has a good chance of rising in price over the next 12 months to a mark of $ 1,300 per ounce," they added.

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Analysts: Oil quotes can still fly up to $ 100 a barrel

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According to a number of experts, this year, black gold can still jump in price to $ 100 per barrel.

"We believe that in the rest of the year, the oil market will most likely incline to an upward trend. In November-December, as a rule, an increase in demand for raw materials from the refinery is observed. According to our estimates, quotes may rise to $ 90 or $ 100 per barrel due to possible supply disruptions. First of all, Iran and Venezuela may face this problem," said analysts at the financial conglomerate Citigroup.

Meanwhile, experts at research company JBC Energy believe that the increase in the supply of black gold from Russia and the United States compensates for these losses.

"Production volumes in these countries now exceed last year's levels by 3.1 million barrels per day. We expect the United States to increase production by the end of the year to 11.6 million barrels per day," noted JBC.

Bank Goldman Sachs, in turn, maintains the forecast for the cost of Brent crude at the end of the year at $ 80 per barrel.

"Despite the fact that the demand for raw materials really fell compared with the peak volumes of the beginning of the year, we believe that the associated concerns are excessive," said representatives of the financial institute.

"The global market will still form a shortage of black gold in the fourth quarter, despite the fact that the United States made an exception for several countries while imposing restrictions on the purchase of Iranian oil," they added.

Goldman Sachs expects that this year, the demand for raw materials will increase by 1.55 million barrels per day, next year, by 1.45 million barrels per day.

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Prospects for the USD after the election through the eyes of market authorities

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Dollar bulls regained control of the market after the announcement of the results of the midterm elections in the United States. It took them only a day. The previously shaken greenback is being restored, the Fed meeting was without surprises. The rate was expectedly saved, there was no mention of the deterioration of macro statistics. Traders firmly believe that in December, the regulator will tighten policy. The euro / dollar pair has fallen rapidly, other currencies that have grown steadily in November, may face profit taking on Friday.

The German Central Bank warned of a possible slowdown in the country's economy in the third quarter, and the euro's momentum was again sent down. Today, an important publication on the eurozone and the US is not expected, so the main pair is likely to complete the trading week in negative territory.

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As for the longer-term outlook, the bullish trend in the dollar against major currencies may end next year. This is due to the fact that the Democrats gained control of the House of Representatives. Morgan Stanley and Credit Agricole said that in the remainder of Donald Trump's presidency, the government will be at an impasse, efforts to reduce taxes and increase spending on infrastructure will be undermined. The dollar, ahead of all competitors of their "Group of 10" this year, will be under pressure.

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Opinion of market authorities

Morgan Stanley has a bearish view of the dollar.

"Democrats, after gaining control of the House of Representatives of the Congress, actually suspend the implementation of the economic program of the Republicans, but at the same time, do not give investors any reason to switch to democratic priorities after 2020," analysts write.

It is expected that in the near future, the US state bonds will feel support, as the market "seems to be ahead of itself" when it laid in quotes the likelihood of maintaining control in the House of Representatives of the Republicans. Banking economists recommend monitoring the implementation of a short-term program of infrastructure spending, this is "important for a more balanced position on this issue, you need to look at how bond markets react."

Credit Agricole, experts are waiting for a weak dollar.

The bank is confident that the victory of the Democrats in the House of Representatives "will reduce the prospects for any significant new fiscal incentives." However, they believe that the protectionist position of the administration of Donald Trump will not undergo any changes.

"The early growth momentum of the US economy, due to the first fiscal measures, will soon exhaust itself, reinforcing our expectations of a weaker dollar over time," the survey says.

Citigroup plans to buy in the fall.

The sale of dollars after the elections was less "plentiful" than the market had expected, and this topic is unlikely to serve as a further development of the negative trend. Analysts see no political reasons for the decline of the US currency. The sale of the greenback ultimately gives you the opportunity to re-enter the longs. Citigroup calls the potential for further dollar sales limited and recommends "buying dips."

Danske Bank expects growth in treasuries of up to 3.5% in the next 3-6 months.

The reaction of the market to the election result can give rather modest support to the treasury securities market and cause a slight decrease in profitability. The fact is that the risk of too much growth in the budget deficit and the continuation of monetary tightening should be somewhat mitigated. The bank expects any support to be short-term. Experts continue to insist on the fall of the euro / dollar below 1.13 until the end of this year. In their opinion, the dollar will constantly feel support from the cyclical advance of the States.

Toronto-Dominion calls 1.13 a solid mark.

"The double bottom at 1.13 in a pair of euro / dollar now looks like a rather hard floor. Democrats showed low results in the Senate, but not enough to change the rules of the game. This is likely to be the story of a slow dollar drop," write currency strategists.

They expect a return to the 1.16-1.18 trading range, which has been noted for most of the last 6 months.

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Saudi Arabia explores the possible disintegration of OPEC

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The authorities of Saudi Arabia have ordered a large-scale study, during which experts carefully analyze the possible dissolution of OPEC. Note that this project involves the development of measures aimed at preventing the collapse of the cartel.

Saudi Arabian State Research Center is exploring the possible impact of the collapse of OPEC on the oil market. According to the American edition of The Wall Street Journal (WSJ), depending on the results obtained, variants of protective measures will be proposed that reduce the likelihood of a cartel to collapse. Adam Seminsky, head of the King Abdullah Oil Research Center, believes the project is not related to critical US statements to OPEC. However, the WSJ claims that this factor is taken into account in the study.

According to the American edition, the Kingdom's research center is studying the likelihood of a cartel's collapse, as Saudi authorities fear OPEC will give up its position due to falling demand for black gold. As a result, the cartel will lose its dominant position in the oil market, experts believe. Earlier in the kingdom insisted on the position of OPEC as the most important global economic institution. Currently, the state had to reconsider its position.

The WSJ notes that the Saudi authorities are not yet ready to liquidate the cartel. However, many officials of the kingdom express doubts about the expediency of the long existence of an oil pool.

Earlier, US President Donald Trump harshly criticized the cartel's country. In September 2018, the head of the White House received a statement that the countries of the Middle East enjoy the protection of the United States, but at the same time, raise oil prices. The American leader also accused OPEC of manipulating the oil market and maintaining high prices for black gold.

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Expert: It is difficult to remain "bull" on the dollar in the long-term

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According to Keisuke Suzuki, an analyst from Societe Generale Tokyo office, in the near future, the dollar will be supported by rising yields on US government bonds against expectations of a further increase in interest rates by the US Federal Reserve.

"After the completion of the so-called "mid-term elections", the focus shifts back to macroeconomic indicators, which are the most important factors affecting the dollar rate, along with the Fed's interest rate," the expert said.

"It is assumed that the regulator will raise the rate in December and three more times, in 2019. However, the question of whether the American economy will be able to withstand a further increase in this indicator over and above this remains an open question," he added.

"There are certain concerns that the slowdown in US GDP growth may limit the growth in the yield of the country's debt securities, as a result of which the US currency risks weakening. Therefore, it is difficult to remain a "bull" on the dollar in the long run, since it is unclear whether the White House will be able to further increase budget expenditures, because the midterm elections led to a split of the Congress," said a representative of Societe Generale.

"In the meantime, the market trend remains the same as before the US elections, at least for major currencies, as investors continue to trade them, taking into account the influence of specific factors, such as the situation around Brexit for the pound sterling and the FOMC decision for the dollar. It is expected that in the near future the USD / JPY pair will test the upper levels, approaching the mark of 114, however, it will be quite difficult for it to consolidate above this level, as it is marked by options that speculators will actively defend," said K. Suzuki.

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Review of the foreign exchange market on 09/11/2018

Well, the Federal Reserve has ordered everyone to relax and have fun, because members of the Federal Commission on Open Market Operations see no reason to be concerned about the recent slowdown in inflation. According to them, there is no sign that inflation will not resume its growth, so there is no reason to revise plans to raise the refinancing rate. So calmly waiting for a rise in December and three more promotions next year. The confidence and tranquility of the American Central Bank dared to worry about this issue, and investors had more confidence in tomorrow. In addition, data on applications for unemployment benefits turned out to be significantly better than forecasts, since their number did not increase, but decreased. In particular, the number of initial claims for unemployment benefits, instead of remaining unchanged, decreased by 1 thousand. However, due to the fact that the previous data was revised upwards. The number of repeated applications, which was to increase by 4 thousand, was reduced by 8 thousand. Thus, absolutely all the news coming from overseas contributed to the strengthening of the dollar. Especially since the electoral fuss has subsided, and, as has become clear, the Democrats can only be satisfied with the Congress, the topic of possible impeachment of Donald Trump somehow subsided by itself. There is still concern about the fact that the Democrats will now actively stick the White House into the wheels, thereby slowing down the adoption of necessary decisions, and provoke a paralysis of power. So far everyone has decided not to think about it.

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Europe did not please us with any statistics. Yes, and fresh news about Brexit and debts of European countries have been reported. So both the single European currency and the pound were losing their positions against the background of the American news.

In the US today, there are data on producer prices, the growth rate of which should remain unchanged. There will also be published data on inventories in the warehouses of wholesale trade, which may increase by another 0.3%. Growth stocks scare that may contribute to slowing inflation, so that this indicator should be watched carefully. After all, if stocks are steadily growing, it means either they produce too much, which will lead to a sharp decline in output, or consumer activity is not so high, and therefore it will be necessary to lower prices. So investors will have to worry a little. And given that no data is released in Europe, the single European currency will strengthen to 1.1375.

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In the UK, preliminary data on GDP for the third quarter come out, which can show the acceleration of economic growth from 1.2% to 1.5%. Although the growth rate of industrial production should slow down from 1.3% to 0.5%. Against the background of the acceleration of the economy, few people will pay attention to this. So the pound will be able to strengthen to 1.3100.

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Wave analysis of GBP / USD for November 9. The pair began to roll back, the situation on Brexit is still very important

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Wave counting analysis:

During the November 8 trading session, the GBP / USD currency pair lost about 60 basis points. Thus, there were grounds to assume the completion of the construction of wave a or 1 of a new upward trend section. If this is true, the decline in quotations will continue to the levels of 50.0% and 38.2% according to Fibonacci. After the completion of the corrective wave, the pair's growth is expected to resume, however, in a situation with the pound sterling, much will depend on the news background and the situation with Brexit.

The objectives for the option with purchases:

1.3124 - 76.4% of Fibonacci

1.3256 - 100.0% of Fibonacci

The objectives for the option with sales:

1.2638 - 261.8% of Fibonacci (senior grid)

General conclusions and trading recommendations:

The currency pair GBP / USD remains in the process of building an upward set of waves. The construction of a corrective wave has now begun, so I do not recommend buying a pair before the completion of this wave. There is a fairly high probability that the instrument will proceed to the construction of a pulsed descending wave, and the entire wave marking of the instrument will again require making adjustments. Therefore, with new purchases, we should be extremely careful.

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Wave analysis of EUR / USD for November 9. The Fed has contributed to the complication of the downward trend

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Wave counting analysis:

In the course of trading on Thursday, the EUR / USD currency pair fell by 60 basis points after the results of the Fed meeting became known. The wave marking of the instrument has undergone certain changes, since the breakdown of the minimum from November 5 with high probability means the complication of the downward trend section, which now has to transform into a 5th wave structure with targets in the fifth wave located around 12 figures.

The objectives for the option with sales:

1.1248 - 127.2% of Fibonacci

1.1179 - 161.8% of Fibonacci

The objectives for the option with purchases:

1.1499 - 0.0% of Fibonacci

General conclusions and trading recommendations:

The currency pair completed the construction of a 3-wave upward structure. Thus, I now expect the pair to decline in the area of 12 figures and recommend to sell again with targets located near the estimated marks of 1.1248 and 1.1179, which corresponds to 127.2% and 161.8% of Fibonacci.

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GBP / USD. November 9. The trading system. "Regression Channels". The pair rested on the MA, will it be able to overcome?

4-hour timeframe

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Technical details:

The senior linear regression channel: direction - up.

The younger linear regression channel: direction - down.

Moving average (20; smoothed) - sideways.

CCI: -39.4195

The currency pair GBP / USD on Friday, November 9, corrected to the moving average line. So far, the upward trend in the instrument, in contrast to the EUR / USD pair, remains. The price rebound from the MA can trigger the resumption of the uptrend. Today in the UK, the publishing of the GDP in September, industrial production in September and a preliminary value of GDP for the third quarter are scheduled. Strong values of GDP can just help the pair to resume the upward movement. However, it should be noted that in the last week, the pound sterling has grown mainly due to the expectations of the signing of an agreement between the EU and the UK on Brexit. However, in recent days, no information supporting these expectations has been made available to traders. And so the euphoria of the market may be over. Continuing to buy a pound just on the rumors that the "deal" on Brexit is 95% consistent, is impossible. In general, despite the serious strengthening of the pound sterling in recent days, we believe that the pair has more chances to move down. Everything will depend on the last trading day of the week on overcoming or not overcoming the moving average line.

Nearest support levels:

S1 - 1.3000

S2 - 1.2939

S3 - 1.2878

Nearest resistance levels:

R1 - 1.3062

R2 - 1.3123

R3 - 1.3184

Trading recommendations:

The currency pair GBP / USD continues to be adjusted. A reversal of the Heikin Ashi indicator to the top at the location of the price above the moving will be a signal for the opening of new long positions with the goal of Murray's level of "7/8" - 1.3123.

Sell positions can be opened no earlier than fixing the price below the moving average line. In this case, the trend in the instrument will change to downward, and the target for the downward movement will be the levels of 1.3000 and 1.2939.

In addition to the technical picture should also take into account the fundamental data and the time of their release.

Explanations for illustrations:

The senior linear regression channel is the blue lines of unidirectional movement.

The junior linear channel is the purple lines of unidirectional movement.

CCI is the blue line in the indicator regression window.

The moving average (20; smoothed) is the blue line on the price chart.

Murray levels - multi-colored horizontal stripes.

Heikin Ashi is an indicator that colors bars in blue or purple.

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EUR / USD. November 9. The trading system. "Regression Channels". The dollar is growing again, what will be the actions of

4-hour timeframe

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Technical details:

The senior linear regression channel: direction - down.

The younger linear regression channel: direction - down.

Moving average (20; smoothed) - down.

CCI: -172.6993

The EUR / USD currency pair on Friday, November 9, resumed the downward movement. From a technical point of view, the correction took place and ended. Thus, the way down for the pair is now open. The Fed meeting was highly expected. The key rate remained unchanged, and in the cover letter of the Fed, there were expected phrases about economic growth, good state of the labor market. In general, we have learned absolutely nothing new from the Fed. It should also be noted that at the next Fed meeting, the key rate is likely to be raised, however, traders knew this before the last meeting. A much more important point now is the resumption of the fall of the pair in itself. The miserable correction that we observed during the current week shows how weak the bull positions are now. That is, those who want to buy the euro against the background of the Italian crisis, Brexit has very little uncertainty. And this can only result in one thing, the further strengthening of the US dollar. From our point of view, Donald Trump has to go on stage. And in the near future. A strong dollar still hampers Trump and the US economy. We believe that the leader of the United States will now make every effort to reduce its course. Unfortunately, the Fed is not subservient to Trump, and further tightening of monetary policy could lead to a further increase in the dollar.

Nearest support levels:

S1 - 1.1353

S2 - 1,1292

S3 - 1.1230

Nearest resistance levels:

R1 - 1,1414

R2 - 1.1475

R3 - 1.1536

Trading recommendations:

The EUR / USD currency pair resumed the downward movement and completed the level of 1.1353. Thus, before the onset of signs of an upward correction, it is recommended to trade short positions with the goal of 1.1292.

Purchase orders will again become relevant after the pair is re-consolidated above the MA. However, given the general mood of traders and the lack of fundamental information capable of supporting the euro, this option is unlikely in the coming days.

In addition to the technical picture should also take into account the fundamental data and the time of their release.

Explanations for illustrations:

The senior linear regression channel is the blue lines of unidirectional movement.

The junior linear regression channel is the purple lines of unidirectional movement.

CCI - blue line in the indicator window.

The moving average (20; smoothed) is the blue line on the price chart.

Murray levels - multi-colored horizontal stripes.

Heikin Ashi is an indicator that colors bars in blue or purple.

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

Analysis of the divergence of EUR / USD for November 9. Eurocurrency falls again

4h

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The currency pair EUR / USD, after rebounding from the correction level of 61.8% - 1.1497, continues the process of falling in the direction of the correctional level of 100.0% - 1.1303. Quoting the pair on November 9 from the Fibo level of 100.0% will allow traders to expect a reversal in favor of the European currency and some growth in the direction of the correction level of 76.4% - 1.1423. There are no ripening divergences today. Fixing the pair below the Fibo level of 100.0% will increase the chances for a further fall in the direction of the next correction level of 127.2% - 1.1162.

The Fibo grid is built on extremes from August 15, 2018, and September 24, 2018.

Daily

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On the 24-hour chart, the EUR / USD currency pair also turned in favor of the US dollar and began to fall in the direction of the Fibo level of 127.2% - 1.1285. Rebound of the pair from the correction level of 127.2% will allow traders to expect a turn in favor of the EU currency and a slight increase towards the correction level of 100.0% - 1.1553. Fixing quotations below the Fibo level of 127.2% will work in favor of a further fall in the direction of the next correction level of 161.8% - 1.0941.

The Fibo grid is built on extremums from November 7, 2017, and February 16, 2018.

Recommendations to traders:

You can make purchases of the EUR / USD currency pair with a target of 1.1423 and a Stop Loss order under the Fibo level of 100.0% if the pair bounces the correction level of 1.1303.

The EUR / USD currency pair can be sold now with a target of 1.1303 with a Stop Loss order above the Fibo level of 76.4%, since the pair completed closing below the correction level of 1.1423.

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Analysis of GBP / USD Divergences for November 9th. Bullish divergence may return demand for the pound

4h

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On the 4-hour chart, the GBP / USD currency pair, after rebounding from the correction level of 76.4% - 1.3157, performed a close below the Fibo level of 61.8% - 1.3066 and continues the process of falling towards the corrective level of 50.0% 1.2997. On November 9, bullish divergence is on the CCI indicator. The education will allow traders to expect a reversal in favor of the British currency and some growth of the pair. Fixing quotes above the Fibo level of 61.8% can be similarly interpreted as a reversal in favor of the pound sterling.

The Fibo grid is built on extremes from September 20, 2018, and October 30, 2018.

1h

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On the hourly chart, after the formation of the bearish divergence at the CCI indicator, the pair completed a fall to the Fibo level of 61.8% - 1.3044. The end of the quotations from the correction level of 61.8% will make it possible to expect a turn in favor of the British currency and a slight increase towards the correctional level of 76.4% - 1.3125. The ripening divergences on November 9th are not observed in any indicator. Fixing the pair below the Fibo level of 61.8% will work in favor of a further fall in the direction of the next correction level of 50.0%.

The Fibo grid is built on extremums from October 12, 2018, and October 30, 2018.

Recommendations to traders:

New purchases of the GBP / USD currency pair can be made with the target of 1.3125 and a Stop Loss order under the correction level of 61.8% if the pair bounces off the level of 1.3044 (hourly chart).

Selling of the GBP / USD pair will be possible with a target of 1.2978 and a Stop Loss order above the 61.8% level if the pair closes below the correction level of 1.3044 (hourly chart).

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Fractal analysis of major currency pairs for November 9

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:

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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:

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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

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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

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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 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

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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, 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

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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

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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

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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

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