Dear colleagues.
For the currency pair Euro / Dollar, we are following the downward structure of January 31 and in order to continue the upward movement, it is necessary to design the local structure. For the currency pair Pound / Dollar, the development of the downward cycle of January 28 is expected after the price passes the range of 1.3015 - 1.2991. For the currency pair Dollar / Franc, we are watching the initial conditions for the top of January 31. For the currency pair Dollar / Yen, the upward structure development from January 31 is expected to continue after the breakdown of 110.22. For the currency pair Euro / Yen, the price has issued local initial conditions for the top of February 1. For the currency pair Pound / Yen, we are following the local structure from February 1 and the development of which is expected after the breakdown of 144.00.
Forecast for February 5:
Analytical review of H1-scale currency pairs:
For the currency pair Euro / Dollar, the key levels on the H1 scale are 1.1548, 1.1514, 1.1467, 1.1415, 1.1387 and 1.1353. Here, we are following the development of the downward structure of January 31 and in order to continue the development of the upward trend, it is necessary to design the local structure. The short-term downward movement is expected in the range of 1.1415 - 1.1387 and the breakdown of the latter value will lead to a movement to the potential target of 1.1353, near which we expect consolidation.
The level of 1.1467 is the key support for the downward structure. Its price passage will have to form local initial conditions for the resumption of the upward trend. Here, the first goal is 1.1514.
The main trend is the downward structure of January 31.
Trading recommendations:
Buy 1.1467 Take profit: 1.1512
Buy 1.1516 Take profit: 1.1546
Sell: 1.1413 Take profit: 1.1390
Sell: 1.1385 Take profit: 1.1355
For the currency pair Pound / Dollar, the key levels on the H1 scale are 1.3181, 1.3068, 1.3015, 1.2991, 1.2929 and 1.2885. Here, we are following the downward cycle of January 28th. We expect the downward movement to continue after the price passes the range of 1.3015 - 1.2991. In this case, the target is 1.2929. The potential value for the bottom is considered the level of 1.2885, after reaching which we expect consolidation, as well as a possible rollback to the correction.
The corrective movement is possible in the range 1.3068 - 1.3118 and the breakdown of the last value will have to form a local ascending structure. In this case, the first potential target is 1.3181.
The main trend is the downward cycle of January 28.
Trading recommendations:
Buy: 1.3068 Take profit: 1.3116
Buy: 1.3119 Take profit: 1.3180
Sell: 1.2990 Take profit: 1.2930
Sell: 1.2927 Take profit: 1.2885
For the currency pair Dollar / Franc, the key levels on the H1 scale are 1.0081, 1.0058, 1.0025, 0.9999, 0.9972, 0.9959 and 0.9939. Here, after the cancellation of the formation of the downward structure of January 30, we are monitoring the initial conditions for the top of January 31. The continuation of the upward trend is expected after the breakdown of 1.0000. In this case, the goal is 1.0025 and consolidation is near this level. The breakdown of the level of 1.0025 should be accompanied by a pronounced upward movement. Here, the target is 1.0058. The potential value for the top is considered the level of 1.0081, upon reaching which we expect consolidation, as well as a rollback to the top.
The short-term downward movement is expected in the range of 0.9972 - 0.9959 and the breakdown of the latter value will lead to an in-depth correction. Here, the target is 0.9939.
The main trend is the initial conditions for the top of January 31.
Trading recommendations:
Buy: 1.0000 Take profit: 1.0022
Buy: 1.0027 Take profit: 1.0055
Sell: 0.9972 Take profit: 0.9960
Sell: 0.9957 Take profit: 0.9940
For the currency pair Dollar / Yen, the key levels on the scale of H1 are 111.32, 111.08, 110.66, 110.22, 109.64, 109.34 and 109.01. Here, we continue to monitor the ascending structure of January 31. The movement upwards is expected after the breakdown of 110.22. Here, the target is 110.66 and consolidation is near this level. The breakdown of the level of 110.66 must be accompanied by a pronounced upward movement. Here, the target is 111.08. The potential value for the top is considered the level of 111.32, upon reaching which we expect consolidation, as well as a rollback to the top.
The short-term downward movement is possible in the range of 109.64 - 109.34 and the breakdown of the latter value will lead to a prolonged correction. Here, the target is 109.01 and this level is the key support for the upward structure. Its breakdown will have to develop the downward structure. In this case, the first target is 108.48.
The main trend is the rising structure of January 31.
Trading recommendations:
Buy: 110.22 Take profit: 110.65
Buy: 110.68 Take profit: 111.08
Sell: 109.64 Take profit: 109.36
Sell: 109.32 Take profit: 109.03
For the currency pair Canadian dollar / Dollar, the key levels on the H1 scale are 1.3190, 1.3139, 1.3114, 1.3074, 1.3026 and 1.2973. Here, we continue to monitor the downward structure of January 24. At the moment, the price is in the zone of correction. The continuation of the downward movement is expected after the breakdown of 1.3074. In this case, the goal is 1.3026 and price consolidation is near this level. The potential value for the bottom is considered the level of 1.2973, after reaching which we expect a rollback to the top.
The short-term uptrend is possible in the range of 1.3114 - 1.3139 and the breakdown of the latter value will lead to a deep correction. Here, the target is 1.3190 and this level is the key support for the downward structure.
The main trend is the downward structure of January 24, the stage of correction.
Trading recommendations:
Buy: 1.3114 Take profit: 1.3137
Buy: 1.3141 Take profit: 1.3190
Sell: 1.3072 Take profit: 1.3030
Sell: 1.3025 Take profit: 1.2975
For the currency pair Australian dollar / Dollar, the key levels on the H1 scale are 0.7359, 0.7336, 0.7296, 0.7267, 0.7225, 0.7208 and 0.7184. Here, we continue to monitor the ascending structure of January 25. At the moment, the price has issued a local potential for the top of February 5. An upward movement is expected after breakdown of 0.7267. In this case, the target is 0.7296 and near this level is the price consolidation. The breakdown of the level of 0.7296 must be accompanied by a pronounced upward movement. Here, the target is 0.7336. The potential value for the top is considered the level of 0.7359, upon reaching which we expect a rollback downwards.
The short-term downward movement is possible in the range of 0.7225 - 0.7208 and the breakdown of the latter value will lead to an in-depth correction. Here, the target is 0.7184 and this level is the key support for the upward structure.
The main trend is the ascending structure of January 25, the local structure for the top of February 5.
Trading recommendations:
Buy: 0.7268 Take profit: 0.7294
Buy: 0.7298 Take profit: 0.7336
Sell: 0.7225 Take profit: 0.7208
Sell: 0.7206 Take profit: 0.7184
For the currency pair Euro / Yen, the key levels on the H1 scale are 126.89, 126.46, 125.89, 125.15, 124.91, 124.53 and 123.74. Here, the price has issued local initial conditions for the top of February 1. The continuation of the movement upward is expected after the breakdown of 125.90. In this case, the goal is 126.46 and near this level is the price consolidation. The potential value for the top is considered the level of 126.89, after reaching which we expect a consolidated movement, as well as a rollback to the top.
The short-term downward movement is possible in the range of 125.15 - 124.91 and the breakdown of the latter value will lead to a prolonged correction. Here, the goal is 124.53 and this level is the key support for the top. Its price will have a downward trend. In this case, the potential goal is 123.74.
The main trend is the local structure for the top of February 1.
Trading recommendations:
Buy: 125.90 Take profit: 126.44
Buy: 126.47 Take profit: 126.89
Sell: 125.15 Take profit: 124.91
Sell: 124.88 Take profit: 124.55
For the currency pair Pound / Yen, the key levels on the H1 scale are 146.68, 145.74, 144.86, 144.00, 142.69, 142.12 and 141.37. Here, we continue to monitor the local structure for the top of February 1. The continuation of the upward movement is expected after the breakdown of 144.00. In this case, the first target is 144.86 and the breakdown of which will allow us to count on the movement to the level of 145.74. The potential value for the top is considered the level of 146.68, upon reaching which we expect consolidation, as well as a rollback to the top.
The short-term downward movement is possible in the range of 142.69 - 142.12 and the breakdown of the last value will lead to an in-depth correction. Here, the target is 141.37 and this level is the key support for the top.
The main trend is a local rising structure from February 1.
Trading recommendations:
Buy: 144.00 Take profit: 144.80
Buy: 144.88 Take profit: 145.74
Sell: 142.69 Take profit: 142.14
Sell: 142.10 Take profit: 141.40
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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