Dear colleagues.
For the EUR / USD pair, we expect a continuation of the downward movement after the breakdown of 1.1776. For the GBP / USD pair, we follow the formation of the downward structure from December 1. For the USD / CHF pair, we expect movement to the level of 0.9937. For the USD / JPY pair, we follow the upward structure of November 27. For the EUR / JPY pair, the range 132.47 - 131.98 is the key support for the top. For the GBP / JPY pair, the continuation of the upward movement is expected after the breakdown at 151.55. The level of 149.10 is the key support.
Forecast for December 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: 1.1960, 1.1909, 1.1865, 1.1837, 1.1776, 1.1723 and 1.1688. Here, we continue to follow the downward cycle from December 7. Continued downward movement is expected after the breakdown of 1.1776. In this case, the target is 1.1723. The potential value for the bottom is the level of 1.1688, upon reaching which, we expect a rollback to correction.
Short-term upward movement is possible in the area of 1.1837-1.1865. The breakdown of the last value will lead to in-depth correction. Here, the target is 1.1909. This level is the key support for the downward structure.
The main trend is the downward cycle from November 27.
Trading recommendations:
Buy: 1.1837 Take profit: 1.1862
Buy: 1.1867 Take profit: 1.1907
Sell: 1.1774 Take profit: 1.1725
Sell: 1.1720 Take profit: 1.1690
For the GBP / USD pair, the key levels on the scale of H1 are: 1.3620, 1.3555, 1.3487, 1.3451, 1.3367, 1.3315 and 1.3279. Here, the development of the downward structure from December 1 is expected after the breakdown of 1.3365. In this case, the target is 1.3315. In the area of 1.3315 - 1.3279 is the consolidation of the price.
Short-term upward movement is possible in the area of 1.3451 - 1.3487. The breakdown of the latter value will lead to the development of an upward structure. In this case, the target is 1.3555. This level is the key resistance for the development of the upward trend in the scale of H1.
The main trend is the downward structure of December 1.
Trading recommendations:
Buy: 1.3451 Take profit: 1.3485
Buy: 1.3488 Take profit: 1.3555
Sell: 1.3313 Take profit: 1.3400
Sell: 1.3395 Take profit: 1.3280
For the USD / CHF pair, the key levels on the scale of H1 are: 1.0013, 0.9970, 0.9937, 0.9868, 0.9849, 0.9823, 0.9792 and 0.9735. Here, we expect to reach the level of 0.9937. Near this level is the consolidation of the price. A break at the level of 0.9940 level will allow us to count on the movement towards the level of 0.9970. From this level, the probability of leaving the correction is high. The potential value for the top is the level of 1.0013, after reaching which we expect a pullback downwards.
Short-term downward movement is possible in the area of 0.9868 - 0.9849. The breakdown of the last value will lead to in-depth correction. Here, the target is 0.9823. This level is the key support for the top. In general, the expressed initial conditions for the downward movement can be expected to reach 0.9792.
The main trend is the upward structure of December 1.
Trading recommendations:
Buy: 0.9940 Take profit: 0.9965
Buy: 0.9972 Take profit: 1.0010
Sell: 0.9868 Take profit: 0.9850
Sell: 0.9847 Take profit: 0.9825
For the USD / JPY, the key levels on the scale are: 114.16, 113.49, 113.14, 112.32, 112.00, 111.43 and 110.80. Here, we continue to follow the upward structure of November 27. Short-term upward movement is possible in the area of 113.14 - 113.49. The breakdown of the last value will lead to a movement towards the potential target of 114.16. Near this level, we expect the consolidation of the price.
Short-term downward movement is possible in the area of 112.32 - 112.00. The breakdown of the last value will lead to in-depth movement. Here, the target is 111.43. This level is the key support for the top. Its breakdown will lead to a downward structure. In this case, the target is 110.80.
The main trend is the formation of the upward structure of November 27.
Trading recommendations:
Buy: 113.14 Take profit: 113.47
Buy: 113.52 Take profit: 114.14
Sell: 112.30 Take profit: 112.02
Sell: 111.98 Take profit: 111.50
For the CAD / USD pair, the key levels on the H1 scale are: 1.2911, 1.2821, 1.2767, 1.2682, 1.2627, 1.2543 and 1.2508. Here, the price is close to the lifting of the downward structure from November 30, which requires a breakdown at the level of 1.2821. In this case, the potential target is 1.2911. Short-term downward movement is possible in the area of 1.2682 - 1.2627. The breakdown of the latter value will lead to the development of pronounced downward movement. Here, the target is 1.2543. We still consider the level of 1.2508 as a potential value for the downward movement, after which we expect consolidation and a rollback to the top.
The main trend is the formation of a downward structure from November 30, a deep correction.
Trading recommendations:
Buy: 1.2825 Take profit: 1.2910
Buy: Take profit:
Sell: 1.2680 Take profit: 1.2630
Sell: 1.2625 Take profit: 1.2548
For the AUD / USD pair, the key levels on the scale of H1 are: 0.7621, 0.7592, 0.7574, 0.7541, 0.7513, 0.7491 and 0.7462. Here, we follow the downward structure of December 5. Continued downward movement is expected after the breakdown of 0.7540. In this case, the target is 0.7513. In the area of 0.7513 - 0.7491 is the consolidation of the price. The potential value for the bottom is the level of 0.7462, upon reaching which we expect a pullback upward.
Short-term upward movement is possible in the area of 0.7574 - 0.7592. The breakdown of the last value will lead to in-depth correction. Here, the target is 0.7621.
The main trend is the downward structure of December 5.
Trading recommendations:
Buy: 0.7574 Take profit: 0.7590
Buy: 0.7595 Take profit: 0.7620
Sell: 0.7540 Take profit: 0.7515
Sell: 0.7510 Take profit: 0.7495
For the EUR / JPY pair, the key levels on the scale of H1 are: 136.34, 135.29, 134.75, 134.01, 133.30, 132.47, 131.98 and 131.19. Here, we continue to follow the upward structure of November 23. Continued upward movement is expected after the breakdown at 133.30. In this case, the first target is 134.05. The breakdown of this level will allow us to count on the movement towards 134.75. In the area of of 134.75 - 135.29 is the consolidation of the price. The potential value for the top is the level of 136.34. The movement towards this level is expected after the breakdown at 135.30.
The range of 132.47 - 131.98 is the key support for the top. Passing by this price will lead to the development of a downward trend in the scale of H1. In this case, the target is 131.19.
The main trend is the upward structure from November 23, the correction stage.
Trading recommendations:
Buy: 133.30 Take profit: 134.00
Buy: 134.05 Take profit: 134.75
Sell: 132.45 Take profit: 132.00
Sell: 131.95 Take profit: 131.25
For the GBP / JPY pair, the key levels on the scale of H1 are: 153.98, 153.02, 152.49, 151.54, 150.14 and 149.10. Here, we follow the development of the upward structure of November 28. At the moment, the price is in a deep correction. The resumption of the upward trend is possible after the breakdown at 151.55. Here, the first target is 152.49. Short-term upward movement is possible in the area of 152.49 - 153.02. The breakdown of the last value will allow us to count on the movement towards the potential target of 153.98. From this level, we expect a pullback downwards.
The range of 150.14 - 149.09 is the key support for the top. In this area, we expect short-term downward movement. The breakdown at 149.05 will lead to the development of a downward trend. In this case, the target is 146.88.
The main trend is the upward cycle from November 28, the stage of deep correction.
Trading recommendations:
Buy: 151.55 Take profit: 152.45
Buy: 153.05 Take profit: 153.95
Sell: 150.10 Take profit: 149.10
Sell: 149.00 Take profit: 147.50
