Fractal analysis for major currency pairs on October 7

Outlook on October 7:

Analytical overview of major pairs on the H1 TF:

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The key levels for the euro/dollar pair on the H1 chart are 1.1904, 1.1878, 1.1835, 1.1805, 1.1774, 1.1720, 1.1696 and 1.1663. The following targets are determined from the local upward structure on October 2. Here, the growth of the pair is expected to continue after breaking through the level of 1.1774. In this case, the first target is 1.1805. If this value breaks down, we can continue moving to the level of 1.1835. Price consolidation is near this level. The breakdown of the indicated level will lead to a strong movement. Here, the target is 1.1878. For the potential value for the top, we consider the level 1.1904. Upon reaching which, we expect a downward pullback.

The level of 1.1720 is a key support and its breakdown will lead to the cancellation of the upward pattern. The first target is 1.1696, the breakout of which, in turn, will lead to the development of a downward trend. The next target will then be the level of 1.1663.

The main trend is the local structure of October 2

Trading recommendations:

Buy: 1.1774 Take profit: 1.1805

Buy: 1.1807 Take profit: 1.1833

Sell: 1.1720 Take profit: 1.1697

Sell: 1.1694 Take profit: 1.1665

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The key levels for the pound/dollar pair are 1.3250, 1.3170, 1.3107, 1.3016, 1.2882 and 1.2814. Here, we are following the development of the top-bottom structure from September 25. The upward movement is expected to continue after breaking through the level of 1.3016. In this case, the target is 1.3107. There is a short-term downward movement and consolidation in the range of 1.3107 - 1.3170. For the potential value for the top, we consider the level of 1.3250. Upon reaching which, we expect a consolidated movement and downward pullback.

A short-term downward movement is expected in the range of 1.2882 - 1.2814. If the last value breaks down, it will lead to the cancellation of the upward trend. In this case, we expect the formation of initial conditions for the downward direction.

The main trend is the upward structure from September 25

Trading recommendations:

Buy: 1.3016 Take profit: 1.3107

Buy: 1.3109 Take profit: 1.3168

Sell: Take profit:

Sell: 1.2880 Take profit: 1.2815

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The key levels for the dollar/franc pair are 0.9243, 0.9211, 0.9180, 0.9145, 0.9103, 0.9075 and 0.9033. We are following the development of the top-down structure from September 25. Now, the decline is expected to continue after the breakdown of the level of 0.9145. In this case, the target is 0.9103. On the other hand, there is a short-term downward movement in the range of 0.9103 - 0.9075. In turn, price consolidation is near the level of 0.9075. For the potential value for the bottom, we consider the level 0.9033. Upon reaching which, we expect an upward pullback.

A short-term upward movement is expected in the range of 0.9180 - 0.9211. If the last value breaks down, it will lead to a deep correction. Here, the potential target is 0.9243, which is the key support for the bottom.

The main trend is the descending structure from September 25

Trading recommendations:

Buy : 0.9180 Take profit: 0.9210

Buy : 0.9213 Take profit: 0.9240

Sell: 0.9143 Take profit: 0.9105

Sell: 0.9101 Take profit: 0.9077

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The key levels for the dollar/yen are 106.45, 106.26, 105.97, 105.84, 105.52, 105.41 and 105.22. An upward structure from October 2 is being formed by the price here. Moreover, the growth of the pair is expected to continue after the price passes the noise range 105.84 - 105.97. In this case, the target is 106.26. On the other hand, we consider the level of 106.45 as a potential value for the top. Upon reaching which, we expect consolidation.

A short-term downward movement is possible in the range of 105.52 - 105.41. In case of breakdown of the last value, it will lead to a deep correction. Here, the target is 105.22, which is the key support for the top.

The main trend is the upward structure from October 2

Trading recommendations:

Buy: 105.98 Take profit: 106.25

Buy : 106.27 Take profit: 106.45

Sell: 105.40 Take profit: 105.24

Sell: 105.21 Take profit: 105.00

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The key levels for the USD/CAD pair are 1.3360, 1.3328, 1.3293, 1.3252, 1.3210, 1.3180 and 1.3135. Here, we are following the development of the downtrend cycle from September 29. At the moment, the price is in correction. The decline is expected to continue after the breakdown of 1.3252. In this case, the target is 1.3210. On the other hand, there is a short-term downward movement and consolidation in the range of 1.3210 - 1.3180. We consider the level of 1.3135 to be a potential value for the downward trend, from which an upward pullback is expected.

A short-term upward movement is possible in the range of 1.3328 - 1.3360. In case of breakdown of the last value, it will lead to the development of an upward trend. In this case, the potential target is 1.3419.

The main trend is the descending structure from September 29, the correction stage

Trading recommendations:

Buy: 1.3330 Take profit: 1.3360

Buy : 1.3362 Take profit: 1.3417

Sell: 1.3250 Take profit: 1.3210

Sell: 1.3208 Take profit: 1.3182

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The key levels for the AUD/USD pair are 0.7326, 0.7277, 0.7243, 0.7190, 0.7164, 0.7092, 0.7059 and 0.7009. Here, we are following the upward structure from September 25. Now, the price is in a correction. The upward movement is expected to continue after the price passes the noise range 0.7164 - 0.7190. In this case, the target is 0.724. Meanwhile, there is a short-term upward movement and consolidation in the range of 0.7243 - 0.7277. For the potential value for the top, we consider the level 0.7326. Upon reaching which, we expect a downward pullback.

A short-term downward movement is expected in the range of 0.7092 - 0.7059; hence, an upward reversal is very likely. The breakdown of the last value will lead to the development of a downward trend. In this case, the first potential target is 0.7009.

The main trend is the upward structure from September 25, the correction stage

Trading recommendations:

Buy: 0.7164 Take profit: 0.7190

Buy: 0.7192 Take profit: 0.7243

Sell : 0.7092 Take profit : 0.7061

Sell: 0.7057 Take profit: 0.7012

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The key levels for the euro/yen pair are 126.17, 125.70, 124.94, 124.68, 124.20, 123.77 and 123.26. Here we are following the development of the ascending structure from 28 September, the local structure to clarify the targets from 2 October. The upward movement is expected to continue after the price passes the noise range 124.68 - 124.94. In this case, the target is 125.70. Meanwhile, we consider the level 126.17 as a potential value for the top. Upon reaching which, we expect consolidation and downward pullback.

A short-term downward movement is possible in the range of 124.20 - 123.77. If the last value breaks down, it will lead to a deep correction. Here, the target is 123.26.

The main trend is the upward structure from September 28 and local structure from October 2

Trading recommendations:

Buy: 124.95 Take profit: 125.70

Buy: 125.72 Take profit: 126.15

Sell: 124.20 Take profit: 123.80

Sell: 123.75 Take profit: 123.30

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The key levels for the pound/yen pair are 140.44, 139.31, 138.51, 137.32, 136.15, 135.39 and 134.67. Here, we are following the development of the upward cycle of September 23. Now, the pair is expected to continue rising after breaking through the level of 137.40. In this case, the target is 138.50. On the other hand, there is a short-term upward movement, as well as consolidation in the range of 138.51 - 139.31. For the potential value for the top, we consider the level 140.44; upon reaching which, a downward pullback is expected.

A short-term downward movement is expected in the range of 136.15 - 135.39. If the last value breaks down, it will lead to a deep correction. Here, the target is 134.67, which is the key support for the top.

The main trend is the medium-term upward structure of September 23

Trading recommendations:

Buy: 137.40 Take profit: 138.50

Buy: 138.55 Take profit: 139.30

Sell: 136.12 Take profit: 135.40

Sell: 135.37 Take profit: 134.70

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