Dear colleagues.
For the currency pair Euro / Dollar, the price is close to the abolition of the rising structure of October 9, for which a breakdown of 1.1478 is necessary. For the currency pair Pound / Dollar, the price has issued the expressed initial conditions for the downward movement of October 12 in a correction of the upward trend. For the currency pair Dollar / Franc, the price forms an upward structure of October 15 and the development of which is expected after the breakdown of 0.9975. For the currency pair Dollar / Yen, the price is in correction and forms potential for the top, the level of 112.72 is the key support. For the currency pair Euro / Yen, the price is in the correction and to continue the movement downward, we expect the design of the local structure. For the Pound / Yen currency pair, we follow the formation of the ascending structure from October 15 and we expect the resumption of movement upwards after the breakdown of 148.04.
Forecast for October 18:
Analytical review of H1-scale currency pairs:
For the Euro / Dollar currency pair, the key levels on the H1 scale are: 1.1699, 1.1658, 1.1628, 1.1612, 1.1580, 1.1554, 1.1478 and 1.1431. Here, we continue to follow the development of the ascending structure from October 9. At the moment, the price is close to the cancellation of this structure, for which a breakdown of the level of 1.1478 is necessary. In this case, the first potential target for the bottom is 1.1431.
The short-term upward movement is possible in the range of 1.1554 - 1.1580 and the breakdown of the latter will lead to the development of an upward trend. Here, the goal is 1.1612. Passing through the range of 1.1612 - 1.1628 will lead to the movement to the level of 1.1658, consolidation is near this level. The potential value for the top is considered the level of 1.1699, upon reaching which we expect a rollback downwards.
The main trend is the ascending structure of October 9, the stage of deep correction.
Trading recommendations:
Buy 1.1555 Take profit: 1.1578
Buy 1.1582 Take profit: 1.1610
Sell: 1.1475 Take profit: 1.1435
Sell: Take profit:
For the Pound / Dollar currency pair, the key levels on the H1 scale are 1.3350, 1.3292, 1.3263, 1.3211, 1.3133, 1.3081 and 1.3023. Here, we continue to monitor the upward structure of October 4. At the moment, the price is in correction and has issued the potential for the downward movement of October 12. The upward movement is expected after the breakdown of 1.3211. In this case, the target is 1.3263 and in the range of 1.3263 - 1.3292 is the price consolidation. The potential value for the top is considered the level of 1.3350, upon reaching this level we expect a rollback downwards.
The consolidated movement is possible in the range of 1.3133 - 1.3081 and the breakdown of the latter value will lead to the development of a downward movement. Here, the target is 1.3023.
The main trend is the upward cycle of October 4, the formation of potential for the bottom of October 12.
Trading recommendations:
Buy: 1.3211 Take profit: 1.3260
Buy: 1.3294 Take profit: 1.3350
Sell: 1.3080 Take profit: 1.3030
Sell: Take profit:
For the Dollar / Franc currency pair, the key levels on the H1 scale are: 1.0030, 1.0007, 0.9975, 0.9960, 0.9934, 0.9918 and 0.9893. Here, we are following the formation of the ascending structure of October 15. The passage of the price range will begin the development of an upward trend. In this case, the goal is 1.0007. The potential value for the top is considered the level of 1.0030, after reaching which we expect consolidation, as well as a rollback to the correction.
The short-term downward movement is possible in the range of 0.9934 - 0.9918 and the breakdown of the latter value will lead to a prolonged correction. Here, the target is 0.9893 and this level is the key support for the top.
The main trend is the formation of the ascending structure of October 15.
Trading recommendations:
Buy: 0.9960 Take profit: 0.9973
Buy: 0.9977 Take profit: 1.0005
Sell: 0.9934 Take profit: 0.9920
Sell: 0.9916 Take profit: 0.9895
For the Dollar / Yen currency pair, the key levels on the scale of H1 are: 113.31, 112.72, 112.38, 111.77, 111.48, 111.02 and 110.38. Here, we are following the downward cycle of October 3. At the moment, the price is in the correction. The short-term downward movement is expected in the range of 111.77 - 111.48. The breakdown of the level of 111.48 will lead to the movement to 111.02, near this level is the consolidation of the price. The potential value for the bottom is considered the level of 110.38, after reaching which we expect a rollback to the top.
The consolidated movement is possible in the range of 112.38 - 112.72 and the breakdown of the latter value will lead to a prolonged correction. Here, the goal is 113.31 and this level is the key support for the downward structure.
The main trend is the downward cycle of October 3, the stage of correction.
Trading recommendations:
Buy: 112.38 Take profit: 112.70
Buy: 112.75 Take profit: 113.30
Sell: 111.75 Take profit: 111.50
Sell: 111.46 Take profit: 111.04
For the Canadian dollar / Dollar currency pair, the key levels on the H1 scale are: 1.3131, 1.3099, 1.3076, 1.3041, 1.2999, 1.2982 and 1.2959. Here, we are following the formation of the ascending structure of October 16. The upward movement is expected after the breakdown of 1.3041. In this case, the target is 1.3076 and in the range of 1.3076 - 1.3099 is the consolidation. The potential value for the top is considered the level of 1.3131, upon reaching which we expect a rollback downwards.
The short-term downward movement is possible in the range of 1.2999 - 1.2982 and the breakdown of the latter value will lead to a prolonged correction. Here, the target is 1.2959 and this level is the key support for the upward structure from October 16.
The main trend is the formation of the ascending structure of October 16.
Trading recommendations:
Buy: 1.3041 Take profit: 1.3074
Buy: 1.3078 Take profit: 1.3097
Sell: 1.2999 Take profit: 1.2983
Sell: 1.2980 Take profit: 1.2960
For the Australian dollar / Dollar currency pair, the key levels on the H1 scale are: 0.7211, 0.7188, 0.7156, 0.7130, 0.7107, 0.7092, 0.7073. Here, the price forms the ascending structure of October 10. The short-term upward movement, as well as consolidation, is expected in the range of 0.7130 - 0.7156. The breakdown of the level of 0.7158 should be accompanied by a pronounced upward movement. Here, the target is 0.7188. The potential value for the top is considered the level of 0.7211, after reaching which we expect consolidation.
The short-term downward movement is expected in the range of 0.7107 - 0.7092 and the breakdown of the last value will lead to a prolonged correction. Here, the goal is 0.7073 and this level is the key support for the top. Its price will have the development of the downward structure. In this case, the potential goal is 0.7040.
The main trend is the formation of the ascending structure from October 10.
Trading recommendations:
Buy: 0.7135 Take profit: 0.7152
Buy: 0.7158 Take profit: 0.7185
Sell: 0.7107 Take profit: 0.7194
Sell: 0.7190 Take profit: 0.7073
For the Euro / Yen currency pair, the key levels on the H1 scale are: 130.94, 130.34, 129.97, 129.43, 129.07 and 128.35. Here, the price is in correction from the downward structure. The short-term downward movement is possible in the range of 129.43 - 129.07, hence the probability of an upward reversal. The breakdown of the level of 129.07 will allow us to count on the movement towards a potential target of 128.35, after reaching which we expect a rollback to the correction.
The short-term upward movement is possible in the range of 129.97 - 130.34 and the breakdown of the latter value will lead to a prolonged correction. Here, the goal is 130.94 and this level is the key support for the downward structure.
The main trend is the downward structure of September 25, the stage of correction.
Trading recommendations:
Buy: 129.98 Take profit: 130.32
Buy: 130.37 Take profit: 130.90
Sell: 129.41 Take profit: 129.10
Sell: 129.03 Take profit: 128.40
For the Pound / Yen currency pair, the key levels on the H1 scale are: 150.34, 149.84, 149.10, 148.52, 147.69, 147.39, 146.92 and 146.47. Here, we are following the formation of the ascending structure of October 15. The upward movement is expected after the breakdown of 148.52. In this case, the target is 149.10 and the consolidation is near this level. The breakdown of the level 149.10 will lead to the development of a pronounced movement. Here, the target is 149.84. The potential value for the top is considered to be the level of 150.34, upon reaching which we expect consolidation and rollback downwards.
The consolidated movement is possible in the range of 147.69 - 147.39 and the breakdown of the latter value will lead to a prolonged correction. Here, the target is 146.92 and this level is the key support for the upward structure.
The main trend is the formation of initial conditions for the upward cycle of October 15.
Trading recommendations:
Buy: 148.55 Take profit: 149.00
Buy: 149.15 Take profit: 149.80
Sell: 147.35 Take profit: 147.00
Sell: 146.90 Take profit: 146.50
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