Forecast for October 18 :
Analytical review of currency pairs on the scale of H1:
For the euro / dollar pair, the key levels on the H1 scale are: 1.1217, 1.1179, 1.1161, 1.1132, 1.1101, 1.1083 and 1.1054. Here, the continuation of the development of the upward cycle of October 8 is expected after the breakdown of the level of 1.1132. In this case, the goal is 1.1161. Short-term upward movement, as well as consolidation is in the range of 1.1161 - 1.1179. For the potential value for the bottom, we consider the level of 1.1217. Upon reaching this level, we expect a pullback to the bottom.
Short-term downward movement is possibly in the range 1.1101 - 1.1083. The breakdown of the last value will lead to a long correction. Here, the goal is 1.1054. This level is a key support for the top.
The main trend is the local ascending structure of October 8.
Trading recommendations:
Buy: 1.1134 Take profit: 1.1160
Buy 1.1180 Take profit: 1.1215
Sell: 1.1100 Take profit: 1.1084
Sell: 1.1081 Take profit: 1.1055
For the pound / dollar pair, the key levels on the H1 scale are: 1.3215, 1.3141, 1.3033, 1.2939, 1.2810, 1.2734 and 1.2625. Here, we are following the development of the upward cycle of October 9. Short-term upward movement is expected in the range 1.2939 - 1.3033. The breakdown of the level of 1.3035 should be accompanied by a pronounced upward movement. Here, the potential target is 1.3141. Price consolidation is in the range of 1.3141 - 1.3215 .
Short-term downward movement is expected in the range of 1.2810 - 1.2734. The breakdown of the last value will lead to an in-depth correction. Here, the target is 1.2625. This level is a key support for the top.
The main trend is the upward structure of October 9.
Trading recommendations:
Buy: 1.2940 Take profit: 1.3032
Buy: 1.3035 Take profit: 1.3140
Sell: 1.2810 Take profit: 1.2735
Sell: 1.2730 Take profit: 1.2625
For the dollar / franc pair, the key levels on the H1 scale are: 0.9923, 0.9902, 0.9886, 0.9859, 0.9836, 0.9822 and 0.9794. Here, we are following the development of the local descending structure of October 15. The continuation of the movement to the bottom is expected after the breakdown of the level of 0.9859. In this case, the target is 0.9836. Price consolidation in the range of 0.9836 - 0.9822. For the potential value for the bottom, we consider the level of 0.9794. Upon reaching which, we expect a pullback to the top.
Short-term upward movement is possibly in the range of 0.9886 - 0.9902. The breakdown of the last value will lead to in-depth correction. Here, the goal is 0.9923. This level is a key support for the downward structure.
The main trend is the local descending structure of October 15.
Trading recommendations:
Buy : 0.9886 Take profit: 0.9900
Buy : 0.9904 Take profit: 0.9920
Sell: 0.9859 Take profit: 0.9836
Sell: 0.9820 Take profit: 0.9795
For the dollar / yen pair, the key levels on the scale are : 109.66, 109.33, 108.90, 108.72, 108.24, 108.02 and 107.67. Here, we are following the development of the upward cycle of October 4. Short-term upward movement is expected in the range 108.72 - 108.90. The breakdown of the latter value will lead to a movement to the level of 109.33. Price consolidation is near this level. For the potential value for the top, we consider the level of 109.66. Upon reaching this level, we expect a consolidated movement, as well as a pullback to the bottom.
Short-term downward movement is expected in the range of 108.24 - 108.02. The breakdown of the last value will lead to an in-depth correction. Here, the goal is 107.67. This level is a key support for the top.
The main trend: the upward cycle of October 4.
Trading recommendations:
Buy: 108.90 Take profit: 109.30
Buy : 109.34 Take profit: 109.65
Sell: 108.24 Take profit: 108.03
Sell: 108.00 Take profit: 107.70
For the Canadian dollar / US dollar pair, the key levels on the H1 scale are: 1.3211, 1.3177, 1.3156, 1.3107, 1.3082 and 1.3052. Here, we are following the development of the downward cycle of October 10. Short-term downward movement is expected in the range of 1.3107 - 1.3082. The breakdown of the last value will lead to a movement to a potential target - 1.3052. From this level, we expect a pullback to the top.
Short-term upward movement is possibly in the range of 1.3156 - 1.3177. The breakdown of the last value will lead to an in-depth correction. Here, the target is 1.3211. This level is a key support for the downward structure.
The main trend is the downward cycle of October 10.
Trading recommendations:
Buy: 1.3156 Take profit: 1.3176
Buy : 1.3178 Take profit: 1.3210
Sell: 1.3107 Take profit: 1.3084
Sell: 1.3080 Take profit: 1.3052
For the Australian dollar / US dollar pair, the key levels on the H1 scale are : 0.6886, 0.6860, 0.6842, 0.6832, 0.6810, 0.6795 and 0.6773. Here, we are following the development of the ascending structure of October 16. The continuation of the movement to the top is expected after the price passes the noise range 0.6832 - 0.6842. In this case, the target is 0.6860. Price consolidation is near this level. For the potential value for the top, we consider the level of 0.6886. Upon reaching this level, we expect a pullback to the bottom.
Short-term downward movement is possibly in the range of 0.6810 - 0.6795. The breakdown of the last value will lead to an in-depth correction. Here, the target is 0.6773. This level is a key support for the upward structure.
The main trend is the upward structure of October 16.
Trading recommendations:
Buy: 0.6842 Take profit: 0.6860
Buy: 0.6863 Take profit: 0.6886
Sell : 0.6810 Take profit : 0.6797
Sell: 0.6793 Take profit: 0.6775
For the euro / yen pair, the key levels on the H1 scale are: 121.95, 121.79, 121.34, 121.03, 120.61, 120.28, 119.92 and 119.64. Here, we are following the development of the local ascendant structure of October 15. Short-term upward movement is expected in the range 121.03 - 121.34. The breakdown of the level of 121.35 should be accompanied by a pronounced upward movement. Here, the target is 121.79. Price consolidation is in the range of 121.79 - 121.95. From here, we expect a correction.
Short-term downward movement is possibly in the range of 120.61 - 120.28. The breakdown of the last value will lead to an in-depth correction. Here, the goal is 119.92. This level is a key support for the top. Its passage at the price will lead to the formation of initial conditions for the downward cycle. In this case, the first goal - 119.64.
The main trend is the upward structure of October 15.
Trading recommendations:
Buy: 121.05 Take profit: 121.34
Buy: 121.36 Take profit: 121.76
Sell: 120.60 Take profit: 120.33
Sell: 120.25 Take profit: 119.94
For the pound / yen pair, the key levels on the H1 scale are : 142.82, 140.89, 139.53, 137.79, 137.08, 136.05 and 135.47. Here, we are following the development of the upward cycle of October 8. The continuation of the movement to the top is expected after the breakdown of the level of 139.55. In this case, the target is 140.89. Price consolidation is near this level. The breakdown of the level of 140.92 will lead to the development of a pronounced movement. In this case, the potential goal is 142.82. Upon reaching which, we expect consolidation, as well as a pullback to the bottom.
Short-term downward movement is possibly in the range of 137.79 - 137.08. The breakdown of the last value will lead to a long correction. Here, the target is 136.05. The range of 136.05 - 135.47 is a key support for the top.
The main trend is the medium-term upward structure of October 8.
Trading recommendations:
Buy: 139.55 Take profit: 140.85
Buy: 141.00 Take profit: 142.80
Sell: 137.77 Take profit: 137.08
Sell: 137.05 Take profit: 136.05
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