Dear colleagues.
For the EUR / USD pair, the price is in deep correction. The resumption of the upward movement is possible after the breakdown of 1.1838. For the GBP / USD pair, we expect the continuation of the upward movement after the breakdown of 1.3303. For the USD / CHF pair, the price is still in correction. The key support for the downward structure is 0.9782. For the USD / JPY pair, we follow the downward structure from October 6. At the current moment, the price is in correction. For the EUR / JPY pair, the continuation of the downward movement is expected after the breakdown of 131.75. For the GBP / JPY pair, the continuation of the upward movement is expected after the breakdown at 149.15. However, a positive correlation with the EUR / JPY has not yet been restored.
Forecast for October 17:
Analytical review of currency pairs in the scale of H1:
For the EUR / USD pair, the key levels on the scale of H1 are: 1.1987, 1.1948, 1.1888, 1.1866, 1.1838, 1.1758 and 1.1731. Here, the price is in deep correction. Short-term downward movement is possible in the area of 1.1758 - 1.1731. Up to the level of 1.1731, we expect the formation of initial conditions. The continuation of the upward movement is possible after the breakdown of 1.1838. Here, the first target is 1.1866. Passing the price of the noise range at 1.1866 - 1.1888 will lead to the development of a pronounced movement. Here, the target is 1.1948. The potential value for the top is the level of 1.1987, after which we expect consolidation, as well as a pullback to the bottom.
The main trend is the upward structure from October 6, the correction stage.
Trading recommendations:
Buy: 1.1838 Take profit: 1.1865
Buy: 1.1890 Take profit: 1.1945
Sell: 1.1756 Take profit: 1.1733
Sell: 1.1728 Take profit: 1.1670
For the GBP / USD pair, the key levels on the scale of H1 are: 1.3432, 1.3401, 1.3342, 1.3303, 1.3219, 1.3173, 1.3123 and 1.3027. Here, we continue to follow the upward structure of October 6. Short-term upward movement is expected in the area of 1.3303 - 1.3342. Breaking the level of 1.3342 should be accompanied by a pronounced movement to the level of 1.3401. The potential value for the top is still the level of 1.3432, from which we expect a pullback downwards.
Short-term downward movement is possible in the area of 1.3219 - 1.3173. The breakdown of the last value will lead to an in-depth movement. Here, the target is 1.3123. This level is the key support for the top.
The main trend is the upward structure of October 6.
Trading recommendations:
Buy: 1.3304 Take profit: 1.3340
Buy: 1.3344 Take profit: 1.3400
Sell: 1.3217 Take profit: 1.3175
Sell: 1.3170 Take profit: 1.3125
For the USD / CHF pair, the key levels on the scale of H1 are: 0.9782, 0.9759, 0.9742, 0.9711, 0.9696, 0.9661 and 0.9634. Here, we continue to follow the downward structure of October 6. The continued development of the downward cycle is expected after passing the price of the noise range of 0.9711 - 0.9696. In this case, the target is 0.9661. The potential value for the bottom is the level of 0.9634, from which we expect a rollback upward.
Short-term upward movement is possible in the area of 0.9759 - 0.9782. The breakdown of the last value will lead to the development of an upward structure. In this case, the target is 0.9832. Up to this level, we expect the initial conditions for the upward cycle to be formed.
The main trend is the downward structure of October 6.
Trading recommendations:
Buy: 0.9762 Take profit: 0.9780
Buy: 0.9786 Take profit: 0.9830
Sell: 0.9695 Take profit: 0.9665
Sell: 0.9658 Take profit: 0.9640
For the USD / JPY pair, the key levels on a scale are: 112.70, 112.36, 112.10, 111.66, 111.42, 110.87 and 110.49. Here, we follow the downward structure of October 6. Short-term downward movement is expected in the area of 111.66 - 111.42. The breakdown of the last value will lead to the development of a pronounced movement. Here, the target is 110.87. The potential value for the bottom is the level of 110.49, from which we expect a rollback to the top.
Short-term upward movement is possible in the area of 112.10 - 112.36. The breakdown of the last value will lead to in-depth correction. Here, the target is 112.70. This level is the key support for the top.
The main trend is the downward structure of October 6.
Trading recommendations:
Buy: 112.10 Take profit: 112.34
Buy: 112.38 Take profit: 112.70
Sell: 111.64 Take profit: 111.45
Sell: 111.40 Take profit: 110.94
For the CAD / USD pair, the key levels on the H1 scale are: 1.2644, 1.2598, 1.2581, 1.2559, 1.2508, 1.2492, 1.2463 and 1.2434. Here, we follow the formation of the upward structure of October 12. Continued upward movement is expected after the breakdown of 1.2560. In this case, the target is 1.2581. Near this level is is the consolidation of the price. Passing the price of the noise range at 1.2581 - 1.2598 should be accompanied by a pronounced upward movement. Here, the target is 1.2644. From this level, we expect a correction.
Short-term downward movement is possible in the area of 1.2508 - 1.2492. The breakdown of the last value will lead to in-depth correction. Here, the target is 1.2465. This level is the key support for the upward structure. Its breakdown will lead to its cancellation.
The main trend is the formation of the upward structure of October 12.
Trading recommendations:
Buy: 1.2560 Take profit: 1.2580
Buy: 1.2600 Take profit: 1.2640
Sell: 1.2506 Take profit: 1.2494
Sell: 1.2488 Take profit: 1.2465
For the AUD / USD pair, the key levels on the scale of H1 are: 0.7954, 0.7931, 0.7900, 0.7885, 0.7846, 0.7822 and 0.7772. Here, we continue to follow the upward structure of October 6. At the moment, the price is in a deep correction. Passing the price of the noise range at 0.7885 - 0.7900 will allow us to count on the movement towards 0.7931. Near this level is the consolidation of the price. The breakdown of 0.7933 should be accompanied by a movement towards the potential target of 0.7954, from which we expect a pullback downwards.
Short-term downward movement is possible in the area of 0.7846 - 0.7822. The breakdown of the latter value will lead to the development of a downward trend in the scale of H1. Here, the potential target is 0.7772.
The main trend is the upward structure of October 6, the stage of deep correction.
Trading recommendations:
Buy: 0.7900 Take profit: 0.7930
Buy: 0.7933 Take profit: 0.7954
Sell: 0.7844 Take profit: 0.7825
Sell: 0.7818 Take profit: 0.7790
For the of EUR / JPY pair, the key levels on the scale of H1 are: 133.00, 132.72, 132.52, 131.96, 131.78, 131.31 and 130.98. Here, we follow the downward structure of October 12. Continued downward movement is expected after passing the price of the noise range at 131.96 - 131.78. In this case, the target is 131.31. The potential value for the bottom is the level of 130.98, from which we expect a rollback to the top.
Short-term upward movement is possible in the area of 132.52 - 132.72. The breakdown of the latter value will lead to an in-depth movement. Here, the target is 133.00. This level is the key support for the bottom.
The main trend is the formation of a downward structure from October 12.
Trading recommendations:
Buy: 132.52 Take profit: 132.70
Buy: 132.76 Take profit: 133.00
Sell: 131.76 Take profit: 131.35
Sell: 131.28 Take profit: 131.00
For the GBP / JPY pair, the key levels on the scale of H1 are: 150.75, 150.17, 149.73, 149.15, 148.52, 148.12 and 147.61. Here, we continue to follow the upward structure of October 6. The continuation of the upward movement is expected after the breakdown at 149.15. In this case, the target is 149.73. Near this level is the consolidation of the price. Its breakdown will allow us to count on the movement towards 150.17. The potential value for the top is the level of 150.75, from which we expect the development of the corrective movement downwards.
Short-term downward movement is expected in the range of 148.52 - 148.12. The breakdown of the latter value will lead to the development of in-depth correction. Here, the target is 147.61. This level is the key support for the top.
The main trend is the upward structure of October 6.
Trading recommendations:
Buy: 149.15 Take profit: 149.70
Buy: 149.78 Take profit: 150.15
Sell: 148.50 Take profit: 148.15
Sell: 148.08 Take profit: 147.65
