Dear colleagues.
For the EUR / USD pair, the downward trend in the H1 scale is expected to continue after the breakdown at 1.1580. For the GBP / USD pair, we continue to continue downward movement after the breakdown at 1.3094. The level of 1.3214 is the key support. For the USD / CHF pair, the resumption of the upward movement is expected after the breakdown at 1.0031. For the USD / JPY pair, we follow the upward structure from October 31. The continuation of the upward movement is expected after the breakdown of 114.24. For the EUR / JPY pair, subsequent targets on the scale of H1 were determined from the downward structure on October 26. For the GBP / JPY pair, the price is still in the zone of initial conditions for the downward cycle of November 1. The continuation of the downward movement id expected after the breakdown of 148.49.
Forecast for November 7:
Analytical review of currency pairs in the scale of H1:
For the EUR / USD pair, the key levels on the scale of H1 are: 1.1749, 1.1701, 1.1676, 1.1619, 1.1582, 1.1536, 1.1505 and 1.1439. Here, we continue to follow the downward cycle from October 12. Consolidated traffic is possible in the area of 1.1619-1.1582. The breakdown of this level will allow us to count on the movement towards the level of 1.1536. In the area of 1.1536-1.1505 is the consolidation of the price. The potential value for the bottom is the level of 1.1439, upon reaching which we expect a pullback upward.
Short-term upward movement is possible in the area of 1.1676-1.1700. The breakdown of the last value will lead to a movement towards the level of 1.1749. Near this level, we expect the consolidation of the price.
The main trend is the downward structure of October 12.
Trading recommendations:
Buy: 1.1676 Take profit: 1.1700
Buy: 1.1705 Take profit: 1.1745
Sell: 1.1578 Take profit: 1.1540
Sell: 1.1534 Take profit: 1.1507
For the GBP / USD pair, the key levels on the scale of H1 are: 1.3214, 1.3141, 1.3094, 1.3017, 1.2988, 1.2937 and 1.2863. Here, we follow the downward structure of October 13. At the moment, the price is in the correction area. Continued downward movement is expected after the breakdown of 1.3094. In this case, the first target is 1.3017. Passing the price of the noise range at 1.3017 - 1.2988 will lead to a movement towards the level of 1.2937. Near this level, we expect the consolidation of the price. The potential value for the downward movement is the level of 1.2863.
The level of 1.3214 is the key support for the downward structure. Before it happens, we expect a capacity for the upward cycle.
The main trend is the downward structure of October 13, the correction stage.
Trading recommendations:
Buy: Take profit:
Buy: 1.3144 Take profit: 1.3212
Sell: 1.3090 Take profit: 1.3017
Sell: 1.2986 Take profit: 1.2940
For the of USD / CHF pair, the key levels in the scale of H1 are: 1.0123, 1.0061, 1.0031, 0.9962, 0.9932 and 0.9890. Here, we continue to follow the development of the upward cycle of October 19. Short-term upward movement is possible in the area of 1.0031 - 1.0061. The breakdown of the last value will allow us to count on the movement towards the potential target of 1.0123, upon reaching which we expect a pullback downwards.
Short-term downward movement is possible in the area of 0.9962 - 0.9932. The breakdown of the last value will lead to in-depth correction. Here, the target is 0.9890. This level is the key support for the top.
The main trend is a local upward structure from October 19, the correction stage.
Trading recommendations:
Buy: 1.0031 Take profit: 1.0060
Buy: 1.0065 Take profit: 1.0120
Sell: 0.9960 Take profit: 0.9934
Sell: 0.9925 Take profit: 0.9900
For the USD / JPY, the key levels on a scale are: 116.13, 115.61, 115.25, 114.76, 114.28, 113.46 and 112.95. Here, we follow the upward structure of October 31. Continued upward movement is expected after the breakdown of 114.28. In this case, the first target is 114.76. The breakdown of this level will allow us to count on the movement towards the level of 115.25. The short-term upward movement is possible in the range of 115.25 - 115.61. The potential value for the upward trend is the level of 116.13, upon reaching which we expect a pullback downwards.
The level of 113.46 is the key support for the top. Its breakdown at the price will lead to the development of a downward structure. In this case, the target is 112.95. Before this level, we expect the initial conditions for the downward cycle to be formed.
The main trend is a local upward structure of October 31.
Trading recommendations:
Buy: 114.30 Take profit: 114.74
Buy: 114.76 Take profit: 115.22
Sell: 113.44 Take profit: 112.95
Sell: Take profit:
For the CAD / USD pair, the key levels at the H1 scale are: 1.2867, 1.2840, 1.2793, 1.2699, 1.2636, 1.2590 and 1.2560. Here, we follow the formation of a downward structure from November 1. Continued downward movement is expected after the breakdown of 1.2699. In this case, the target is 1.2636. We consider the level of 1.2560 to be a potential value for the downward structure. After this, we expect consolidation in the area of 1.2590 - 1.2560.
The correction is possible after the breakdown of 1.2793. The target is 1.2840 and the range of 1.2840 - 1.2867 is the key support for the downward structure. Passing this price will lead to the formation of an upward movement. Here, the target is 1.2914.
The main trend is the formation of a downward structure from November 1.
Trading recommendations:
Buy: 1.2795 Take profit: 1.2840
Buy: 1.2868 Take profit: 1.2912
Sell: 1.2696 Take profit: 1.2638
Sell: 1.2634 Take profit: 1.2592
For the AUD / USD pair, the key levels on the scale of H1 are: 0.7696, 0.7676, 0.7658, 0.7629, 0.7602, 0.7568 and 0.7545. Here, the price is close to the cancellation of the downward structure from November 2. This requires a breakdown at the level of 0.7696. In this case, the target is 0.7729. Continued downward movement is expected after the breakdown of 0.7655. Here, the first target is 0.7629. Short-term downward movement is possible in the range of 0.7629 - 0.7602. The breakdown of the last value will lead to a pronounced movement. Here, the target is 0.7568. The potential value for the bottom is the level of 0.7545, upon reaching which we expect a rollback upward.
The main trend is the local structure for the bottom of November 2, the stage of the initial conditions.
Trading recommendations:
Buy: 0.7698 Take profit: 0.7726
Buy: Take profit:
Sell: 0.7655 Take profit: 0.7630
Sell: 0.7627 Take profit: 0.7605
For the EUR / JPY pair, the key levels on the scale of H1 are: 133.33, 132.80, 132.50, 131.80, 131.43, 131.13 and 130.65. Here, we determined the subsequent goals for the downward movement from the medium-term structure of October 26. Continued downward movement is expected after the breakdown of 131.80. In this case, the target is 131.43. In the area of 131.43 - 131.13 is the consolidation of the price. The potential value for the bottom is the level of 130.65, upon reaching which we expect a rollback to the top.
Short-term upward movement is possible in the area of 132.50 - 132.80. The breakdown of the last value will lead to in-depth correction. Here, the target is 133.33. This value is the key resistance for the development of the upward structure on the scale of H1.
The main trend is the downward cycle from October 26.
Trading recommendations:
Buy: 132.50 Take profit: 132.80
Buy: 132.85 Take profit: 133.30
Sell: 131.80 Take profit: 131.45
Sell: 131.10 Take profit: 130.65
For the GBP / JPY pair, the key levels on the scale of H1 are: 150.63, 149.85, 149.44, 148.49, 147.87, 147.41 and 146.18. Here, we follow the formation of a downward structure from November 1. The current price is in correction. Continued downward movement is expected after the breakdown of 148.49. In this case, the target is 147.87. In the area of 147.87 - 147.41 is the consolidation of the price. The breakdown at the level of 147.40 should be accompanied by a pronounced downward movement. Here, the target is 146.18. From this level, we expect a pullback upward.
Consolidated traffic is possible in the area of 149.45 - 149.83. The breakdown of the last value will lead to in-depth movement. Here, the target is 150.63. This level is the key support for the bottom.
The main trend is the formation of a downward structure from November 1, the stage of the initial conditions.
Trading recommendations:
Buy: 149.80 Take profit: 150.45
Buy: 150.70 Take profit: 151.25
Sell: 148.49 Take profit: 147.95
Sell: 147.40 Take profit: 146.40
