Dear colleagues.
For the Euro / Dollar currency pair, the upward trend continuation is expected after the breakdown of 1.1392 and the level of 1.1338 is the key support for the top. For the currency pair Pound / Dollar, the price forms the potential for the top of December 5 and the development of which is expected after the breakdown of 1.2827. For the currency pair Dollar / Franc, we are following the formation of the downward structure of December 5th. For the currency pair Dollar / Yen, we are following the development of the downward cycle of November 28 and we expect a further downward movement after the breakdown of 112.35. For the Euro / Yen currency pair, we are following the development of the downward cycle of November 29 and we expect a further downward movement after the breakdown of 127.68. For the Pound / Yen currency pair, the development of the upward structure of December 4 is possible after the breakdown of 144.60 and the level of 143.15 is the key support.
Forecast for December 7:
Analytical review of H1-scale currency pairs:
For the Euro / Dollar currency pair, the key levels on the H1 scale are: 1.1477, 1.1429, 1.1414, 1.1392, 1.1355, 1.1338, 1.1311, 1.1297 and 1.1266. Here, we continue to monitor the ascending structure of November 28. An upward movement is expected after the breakdown of 1.1392. In this case, the target is 1.1414 and consolidation is near this level. The passage at the price of the range of 1.1414 - 1.1429 will lead to a movement to the potential target of 1.1477, upon reaching which we expect a rollback downwards.
The short-term downward movement is possible in the range of 1.1355 - 1.1338 and the breakdown of the latter value will lead to a prolonged correction. In this case, the target is 1.1311. The price pass of the range of 1.1311 - 1.1297 will have to form the initial conditions for the downward cycle.
The main trend is the ascending structure of November 28.
Trading recommendations:
Buy 1.1392 Take profit: 1.1414
Buy 1.1429 Take profit: 1.1477
Sell: 1.1355 Take profit: 1.1340
Sell: 1.1336 Take profit: 1.1314
For the Pound / Dollar currency pair, the key levels on the H1 scale are: 1.2947, 1.2903, 1.2873, 1.2827, 1.2792, 1.2758, 1.2726 and 1.2668. Here, the price forms the potential for the top of December 5th. The short-term upward movement is possible in the range of 1.2792 - 1.2827 and the breakdown of the latter value will lead to a pronounced movement. Here, the target is 1.2873 and in the range of 1.2873 - 1.2903 is the short-term upward movement. The potential value for the top is considered the level of 1.2947, upon reaching which we expect a rollback downwards.
The short-term downward movement is possible in the range of 1.2758 - 1.2726 and the breakdown of the latter value will have to the formation of a downward structure. In this case, the goal is 1.2668.
The main trend is the formation of potential for the top of December 5.
Trading recommendations:
Buy: 1.2792 Take profit: 1.2825
Buy: 1.2830 Take profit: 1.2873
Sell: 1.2755 Take profit: 1.2728
Sell: 1.2724 Take profit: 1.2670
For the Dollar / Franc currency pair, the key levels on the H1 scale are: 0.9979, 0.9954, 0.9941, 0.9897, 0.9878, 0.9863 and 0.9823. Here, we are following the formation of the downward structure of December 5th. The break of the level of 0.9897 will lead to the formation of pronounced initial conditions. In this case, the goal is 0.9878. The price pass of the range of 0.9878 - 0.9863 should be accompanied by a pronounced downward movement. Here, the goal is 0.9823.
The short-term upward movement, possibly in the range of 0.9941 - 0.9954 and the breakdown of the latter value will lead to a prolonged correction. Here, the target is 0.9979 and this level is the key support for the downward movement.
The main trend is the formation of a downward structure of December 5.
Trading recommendations:
Buy: 0.9955 Take profit: 0.9975
Buy: 0.9980 Take profit: 1.0005
Sell: 0.9895 Take profit: 0.9878
Sell: 0.9862 Take profit: 0.9825
For the Dollar / Yen currency pair, the key levels on the scale of H1 are: 113.41, 113.15, 112.95, 112.57, 112.35, 112.04 and 111.87. Here, we are following the development of the downward cycle of November 28. The short-term downward movement is possible in the range of 112.57 - 112.35 and the breakdown of the latter value will lead to a pronounced movement. Here, the target is 112.04. The potential value for the bottom is considered the level of 111.87, after reaching which we expect a rollback to the top.
The short-term upward movement is possible in the range of 112.95 - 113.15 and the breakdown of the latter value will lead to a prolonged correction. Here, the target is 113.41.
The main trend is the downward cycle of November 28.
Trading recommendations:
Buy: 112.95 Take profit: 113.15
Buy: 113.17 Take profit: 113.40
Sell: 112.55 Take profit: 113.35
Sell: 112.33 Take profit: 112.05
For the Canadian dollar / dollar currency pair, the key levels on the H1 scale are: 1.3506, 1.3478, 1.3429, 1.3393, 1.3343, 1.3321, 1.3285 and 1.3247. Here, we follow the development of the ascending structure from December 4th. The short-term upward movement is expected in the range of 1.3393 - 1.3429 and the breakdown of the last value should be accompanied by a pronounced upward movement. Here, the target is 1.3478. We consider the level of 1.3506 to be a potential value for the top, after reaching which we expect consolidation in the range of 1.3478 - 1.3506, as well as a rollback to the top.
The short-term downward movement is possible in the range of 1.3343 - 1.3321 and the breakdown of the last value will lead to a prolonged correction. Here, the target is 1.3285 and this level is the key support for the top. The breakdown will have to form the initial conditions for the downward cycle. In this case, the target is 1.3247.
The main trend is the upward cycle of December 4.
Trading recommendations:
Buy: 1.3393 Take profit: 1.3427
Buy: 1.3432 Take profit: 1.3476
Sell: 1.3320 Take profit: 1.3287
Sell: 1.3283 Take profit: 1.3250
For the Australian dollar / dollar currency pair, the key levels on the H1 scale are: 0.7290, 0.7257, 0.7237, 0.7196, 0.7166, 0.7127 and 0.7100. Here, we are following the development of the downward structure of December 4th. The short-term downward movement is possible in the range of 0.7196 - 0.7166 and the breakdown of the latter value will lead to a pronounced movement. Here, the target is 0.7127. The potential value for the bottom is considered to be the level of 0.7100, upon reaching which we expect consolidation, as well as a rollback to the top.
The short-term upward movement is possible in the range of 0.7237 - 0.7257 and the breakdown of the latter value will lead to a deep correction. Here, the target is 0.7290 and this level is the key support for the downward structure of December 4.
The main trend is the downward structure of December 4.
Trading recommendations:
Buy: 0.7237 Take profit: 0.7255
Buy: 0.7258 Take profit: 0.7290
Sell: 0.7196 Take profit: 0.7166
Sell: 0.7164 Take profit: 0.7130
For the Euro / Yen currency pair, the key levels on the H1 scale are: 128.70, 128.36, 128.15, 127.68, 127.43, 127.08 and 126.88. Here, we continue to follow the development of the downward structure of November 29. The short-term downward movement is expected in the range of 127.68 - 127.43 and the breakdown of the latter value should be accompanied by a pronounced downward movement. Here, the goal is 127.08. The potential value for the bottom is considered the level of 126.88, after reaching which we expect consolidation, as well as a rollback to the top.
The short-term upward movement is possible in the range of 128.15 - 128.36 and the breakdown of the last value will lead to a prolonged correction. Here, the goal is 128.70 and this level is the key support for the bottom.
The main trend is the downward cycle of November 29.
Trading recommendations:
Buy: 128.15 Take profit: 128.34
Buy: 128.38 Take profit: 128.70
Sell: 127.66 Take profit: 127.47
Sell: 127.40 Take profit: 127.10
For the Pound / Yen currency pair, the key levels on the H1 scale are: 145.15, 144.60, 144.10, 143.46, 143.15, 142.80, 142.55 and 141.98. Here, the price has shaped the potential for upward movement in the correction zone from the downward structure on November 28. An upward movement is expected after breakdown of 144.10. In this case, the first target is 144.60 and the breakdown of which will lead to movement to the level of 145.15, consolidation is near this level. The potential value for the top is considered the level of 145.85.
The range of 143.46 - 143.15 is the key support for the top. Its price passage will continue the development of the downward trend. Here, the target is 142.80 and in the range of 142.80 - 142.55 is the price consolidation. The potential value for the bottom is considered the level of 141.98, after reaching which we expect a rollback to the top.
The main trend is the downward cycle of November 28, the stage of correction.
Trading recommendations:
Buy: 144.10 Take profit: 144.60
Buy: 144.64 Take profit: 145.10
Sell: 143.46 Take profit: 143.15
Sell: 143.12 Take profit: 142.80
