Forecast for January 6 :
Analytical review of currency pairs on the scale of H1:
For the euro / dollar pair, the key levels on the H1 scale are: 1.1238, 1.1220, 1.1198, 1.1182, 1.1144, 1.1123, 1.1105 and 1.1085. Here, the price forms a local potential for the upward structure of January 3. The continuation of the movement to the top is expected after the breakdown of the level of 1.1182. Here, the goal is 1.1198. Price consolidation is near this level. The breakdown of the level of 1.1198 will lead to a pronounced upward movement. Here, the target is 1.1220. For the potential value for the top, we consider the level of 1.1238. Upon reaching this level, we expect a pullback to the bottom.
The level of 1.1144 is a key support for the top and its breakdown will lead to the subsequent development of the descending structure of December 31. In this case, the first goal is 1.1123. The breakdown of the level of 1.1123 will allow you to count on movement to the level of 1.1105. For the potential value for the bottom, we consider the level of 1.1085.
The main trend is the descending structure of December 31, the local potential for the top of January 3.
Trading recommendations:
Buy: 1.1182 Take profit: 1.1196
Buy: 1.1199 Take profit: 1.1220
Sell: 1.1144 Take profit: 1.1125
Sell: 1.1121 Take profit: 1.1107
For the pound / dollar pair, the key levels on the H1 scale are: 1.3417, 1.3338, 1.3282, 1.3199, 1.3097, 1.3061 and 1.3006. Here, we are following the development of the ascending structure of December 23. At the moment, the price is in the zone of initial conditions. The continuation of the movement to the top is expected after the breakdown of the level of 1.3200. In this case, the target is 1.3282. Short-term upward movement, as well as consolidation is in the range of 1.3282 - 1.3338. For the potential value for the top, we consider the level of 1.3417. Upon reaching which, we expect a pullback to the bottom.
Consolidated movement is possibly in the range of 1.3097 - 1.3061. The breakdown of the latter value will lead to an in-depth correction. Here, the target is 1.3006. This level is a key support for the top.
The main trend is the upward structure of December 23
Trading recommendations:
Buy: 1.3200 Take profit: 1.3280
Buy: 1.3283 Take profit: 1.3336
Sell: 1.3097 Take profit: 1.3061
Sell: 1.3058 Take profit: 1.3008
For the dollar / franc pair, the key levels on the H1 scale are: 0.9822, 0.9798, 0.9766, 0.9738, 0.9698, 0.9678 and 0.9644. Here, the price forms the potential for the upward movement of December 31 in the correction of the downward cycle of December 24. The continuation of the movement to the top is expected after the breakdown of the level of 0.9738. In this case, the target is 0.9766. Price consolidation is near this level. The breakdown of the level of 0.9766 will lead to a pronounced movement. In this case, the target is 0.9798. For the potential value for the top, we consider the level of 0.9822. Upon reaching which, we expect consolidation, as well as a pullback to the bottom.
Short-term downward movement is possibly in the range of 0.9698 - 0.9678. The breakdown of the latter value will favor the development of a downward structure. In this case, the first target is 0.9644.
The main trend is the descending cycle of December 24, the correction stage
Trading recommendations:
Buy : 0.9738 Take profit: 0.9764
Buy : 0.9767 Take profit: 0.9796
Sell: 0.9698 Take profit: 0.9678
Sell: 0.9676 Take profit: 0.9645
For the dollar / yen pair, the key levels on the scale are : 108.87, 108.61, 108.35, 108.17, 107.70, 107.53, 107.27 and 107.11. Here, we continue to monitor the local descending structure of January 2. Short-term downward movement is possibly in the range 107.70 - 107.53. The breakdown of the last value will lead to a pronounced movement. Here, the target is 107.27. For the potential value for the bottom, we consider the level of 107.11. Upon reaching this level, we expect consolidation, as well as a rollback to the top.
Short-term upward movement is possibly in the range 108.17 - 108.35. The breakdown of the last value will lead to an in-depth correction. Here, the target is 108.61. This level is a key support, the breakdown of which will allow counting on movement to a potential target - 108.87.
Main trend: local descending structure of January 2
Trading recommendations:
Buy: 108.17 Take profit: 108.35
Buy : 108.37 Take profit: 108.60
Sell: 107.70 Take profit: 107.54
Sell: 107.51 Take profit: 107.28
For the Canadian dollar / US dollar pair, the key levels on the H1 scale are: 1.3058, 1.3045, 1.3019, 1.3000, 1.2950 and 1.2924. Here, we are following the development of the local descending structure of December 23. The continuation of movement to the bottom is expected after the breakdown of the level of 1.2950. In this case, the target is 1.2924. We expect a key reversal to the correction from this level.
Short-term upward movement is possibly in the range of 1.3000 - 1.3019. The breakdown of the latter value will lead to an in-depth correction. Here, the target is 1.3045. The range 1.3045 - 1.3058 is a key support for the downward structure. We expect the initial conditions for the upward cycle to be formed before it.
The main trend is the local descending structure of December 23
Trading recommendations:
Buy: 1.3005 Take profit: 1.3017
Buy : 1.3020 Take profit: 1.3045
Sell: 1.2950 Take profit: 1.2926
Sell: Take profit:
For the Australian dollar / US dollar pair, the key levels on the H1 scale are : 0.7007, 0.6980, 0.6964, 0.6923, 0.6905, 0.6867 and 0.6851. Here, we consider the descending structure of December 31 as a medium-term structure. Short-term downward movement is expected in the range 0.6923 - 0.6905. The breakdown of the latter value will lead to a pronounced movement. Here, the target is 0.6867. We consider the level of 0.6851 to be a potential value for the bottom. Upon reaching this level, we expect a pullback to the top.
Short-term upward movement is expected in the range 0.6964 - 0.6980. The breakdown of the latter value will lead to an in-depth correction. Here, the target is 0.7007. This level is a key support for the descending structure of December 31.
The main trend is the descending structure of December 31
Trading recommendations:
Buy: 0.6964 Take profit: 0.6980
Buy: 0.6982 Take profit: 0.7005
Sell : 0.6923 Take profit : 0.6907
Sell: 0.6903 Take profit: 0.6868
For the euro / yen pair, the key levels on the H1 scale are: 121.25, 120.93, 120.75, 120.13, 119.84 and 119.57. Here, we are following the development of the descending structure of December 27. The continuation of movement to the bottom is expected after the breakdown of the level of 120.13. In this case, the target is 119.84. Price consolidation is near this level and hence, the probability of a reversal to the correction is high. For the potential value for the bottom, we consider the level of 119.57, from which we expect a pullback.
Short-term upward movement is possibly in the range of 120.75 - 120.93. The breakdown of the last value will lead to an in-depth correction. Here, the goal is 121.25. This level is a key support for the downward structure.
The main trend is the descending structure of December 27
Trading recommendations:
Buy: 120.75 Take profit: 120.90
Buy: 120.95 Take profit: 121.25
Sell: 120.13 Take profit: 119.86
Sell: 119.82 Take profit: 119.58
For the pound / yen pair, the key levels on the H1 scale are : 142.79, 142.22, 141.75, 140.66, 140.12, 139.32 and 138.86. Here, we are following the development of the descending structure of December 31. Short-term downward movement is expected in the range 140.66 - 140.12. The breakdown of the last value should be accompanied by a pronounced downward movement. In this case, the target is 139.32. We consider the level of 138.86 to be a potential value for the bottom. Upon reaching this level, we expect a pullback to the top.
Short-term upward movement is possibly in the range of 141.75 - 142.22. The breakdown of the last value will lead to an in-depth correction. Here, the goal is 142.79. This level is the key support for the descending structure of December 31.
The main trend is the descending structure of December 31
Trading recommendations:
Buy: 141.75 Take profit: 142.20
Buy: 142.24 Take profit: 142.77
Sell: 140.65 Take profit: 140.14
Sell: 140.10 Take profit: 139.34
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