Forecast for December 20:
Analytical review of currency pairs on the scale of H1:
For the euro / dollar pair, the key levels on the H1 scale are: 1.1261, 1.1239, 1.1198, 1.1156, 1.1134, 1.1103, 1.1078 and 1.1046. Here, the price is in the correction zone from the ascending structure on November 29. Meanwhile, consolidated movement is expected in the range of 1.1134 - 1.1156. The breakdown of the latter value will lead to movement to the level of 1.1198. Price consolidation is near this level. The breakdown of the level of 1.1200 will allow you to count on movement towards a potential target - 1.1261, upon reaching this level, we expect consolidation in the range of 1.1261 - 1.1239.
Short-term downward movement is expected in the range 1.1103 - 1.1078. The breakdown of the latter value will have the downward structure development on December 13. In this case, the potential target is 1.1046.
The main trend is the upward structure of November 29, the correction stage
Trading recommendations:
Buy: 1.1134 Take profit: 1.1154
Buy: 1.1158 Take profit: 1.1196
Sell: 1.1103 Take profit: 1.1080
Sell: 1.1076 Take profit: 1.1046
For the pound / dollar pair, the key levels on the H1 scale are: 1.3264, 1.3193, 1.3146, 1.3035, 1.2988 and 1.2901. Here, we are following the development of the downward cycle of December 13. Short-term downward movement is expected in the range 1.3035 - 1.2988. The breakdown of the latter value will allow us to count on movement to a potential target - 1.2901, when this level is reached, we expect a pullback to the top.
Short-term upward movement is possibly in the range of 1.3146 - 1.3193. The breakdown of the last value will lead to a long correction. Here, the target is 1.3264. This level is a key support for the downward structure.
The main trend is the descending cycle of December 13
Trading recommendations:
Buy: 1.3146 Take profit: 1.3190
Buy: 1.3195 Take profit: 1.3264
Sell: Take profit:
Sell: 1.2986 Take profit: 1.2903
For the dollar / franc pair, the key levels on the H1 scale are: 0.9845, 0.9823, 0.9805, 0.9792, 0.9768, 0.9753 and 0.9732. Here, we determined the subsequent goals from the local descending structure on December 12. Short-term downward movement is expected in the range of 0.9768 - 0.9753. The breakdown of the last value will lead to movement to a potential target - 0.9732. We expect a pullback to the top from this level.
Short-term upward movement is possibly in the range of 0.9792 - 0.9805. The breakdown of the latter value will lead to in-depth movement. Here, the target is 0.9823. This level is a key support for the downward structure of November 29. Its passage in price will lead to the development of the upward structure. Here, the target is 0.9845.
The main trend is the local structure for the bottom of December 12
Trading recommendations:
Buy : 0.9792 Take profit: 0.9803
Buy : 0.9806 Take profit: 0.9823
Sell: 0.9768 Take profit: 0.9755
Sell: 0.9751 Take profit: 0.9733
For the dollar / yen pair, the key levels on the scale are : 110.52, 110.20, 109.96, 109.62, 109.23, 109.08 and 108.85. Here, we are following the formation of the initial conditions for the top of December 12. The continuation of the movement to the top is expected after the breakdown of the level of 109.62. In this case, the target is 109.96. We expect a short-term upward movement, as well as consolidation in the range of 109.96 - 110.20. For the potential value for the top, we consider the level of 110.52. Upon reaching which, we expect a rollback to the correction.
Short-term downward movement is expected in the range 109.23 - 109.08. The breakdown of the last value will lead to an in-depth correction. Here, the target is 108.85. This level is the key support for the upward structure from December 12.
Main trend: initial conditions for the top of December 12
Trading recommendations:
Buy: 109.63 Take profit: 109.96
Buy : 109.98 Take profit: 110.20
Sell: 109.23 Take profit: 109.08
Sell: 109.06 Take profit: 108.85
For the Canadian dollar / US dollar pair, the key levels on the H1 scale are: 1.3256, 1.3217, 1.3196, 1.3146, 1.3118, 1.3094 and 1.3034. Here, we continue to monitor the long-term descending structure of December 3. The continuation of movement to the bottom is expected after the price passes the noise range 1.3118 - 1.3094. In this case, the potential target is 1.3034. When this value is reached, we expect a rollback to the top.
A correction can be made possible after the breakdown of the level of 1.3160. Here, the target is 1.3196. The range 1.3196 - 1.3217 is the key support for the downward structure. Its passage at the price will be conducive to the development of the upward movement. Here, the potential goal is 1.3256.
The main trend is the long-term downward structure of December 3
Trading recommendations:
Buy: 1.3160 Take profit: 1.3196
Buy : 1.3218 Take profit: 1.3252
Sell: 1.3118 Take profit: 1.3096
Sell: 1.3092 Take profit: 1.3040
For the Australian dollar / US dollar pair, the key levels on the H1 scale are : 0.6957, 0.6932, 0.6900, 0.6857, 0.6832, 0.6808 and 0.6791. Here, the price registered the local potential of December 18 to continue the upward trend. The continuation of the movement to the top is expected after the breakdown of the level of 0.6900. In this case, the target is 0.6932. For the potential value for the top, we consider the level of 0.6957. Upon reaching which, we expect a pullback to the bottom.
On December 18, the key support for the upward structure is the level of 0.6857 , its breakdown will favor the development of a downward movement, here the first goal is 0.6832. As a potential value for the bottom, while we consider the level of 0.6808, near which we expect consolidation.
The main trend is the local potential for the top of December 18
Trading recommendations:
Buy: 0.6900 Take profit: 0.6930
Buy: 0.6934 Take profit: 0.6956
Sell : 0.6857 Take profit : 0.6835
Sell: 0.6830 Take profit: 0.6808
For the euro / yen pair, the key levels on the H1 scale are: 122.87, 122.39, 122.04, 121.80, 121.38, 121.00 and 120.52. Here, we expect the development of the downward structure of December 13. The continuation of the movement to the bottom is possibly after the breakdown of the level of 121.38. Here, the first goal is 121.00. Price consolidation is near this level. The breakdown of the level of 121.00 will lead to a pronounced downward movement. Here, the potential target is 120.52.
Consolidated movement is possibly in the range of 121.80 - 122.04. The breakdown of the last value will have the subsequent development of an upward trend, where the first goal is 122.39. This level is the key resistance for the top.
The main trend is the rising structure of December 9, the stage of deep correction
Trading recommendations:
Buy: 122.41 Take profit: 122.85
Buy: Take profit:
Sell: 121.38 Take profit: 121.05
Sell: 121.00 Take profit: 120.60
For the pound / yen pair, the key levels on the H1 scale are : 144.52, 143.48, 142.86, 141.96, 141.40, 140.31 and 139.34. Here, we follow the development of the downward cycle of December 13. Short-term downward movement is expected in the range of 141.96 - 141.40. The breakdown of the last value will lead to a pronounced movement to the level of 140.31. Price consolidation is expected near this level, as well as a pullback in correction. For the potential value for the bottom, we consider the level of 139.34.
Short-term upward movement is possibly in the range of 142.86 - 143.48. The breakdown of the last value will lead to an in-depth correction. Here, the goal is 144.52. This level is the key support for the descending cycle of December 13.
The main trend is the descending cycle of December 13
Trading recommendations:
Buy: 142.86 Take profit: 143.45
Buy: 143.50 Take profit: 144.50
Sell: 141.96 Take profit: 141.42
Sell: 141.36 Take profit: 140.35
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