Dear colleagues.
For the currency pair Euro / Dollar, we follow the downward structure of January 31 and we expect further downward movement after passing by the price of the range of 1.1387 - 1.1375. For the currency pair Pound / Dollar, we should continue the downward movement after the breakdown of 1.2929. 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 of January 31 is expected to continue to develop after the breakdown of 110.22. At the moment, the price is in the zone of initial conditions. For the currency pair Euro / Yen, the situation is in equilibrium and the level of 124.53 is the key resistance for the bottom. For the currency pair Pound / Yen, the price set the initial conditions for the downward movement of February 4.
Forecast for February 6:
Analytical review of H1-scale currency pairs:
For the currency pair Euro / Dollar, the key levels on the H1 scale are 1.1441, 1.1419, 1.1405, 1.1387, 1.1375, 1.1353, 1.1326 and 1.1307. Here, we are following the development of the downward structure of January 31. We expect the downward movement to continue after the price passes the range of 1.1387 - 1.1375. In this case, the target is 1.1353, and consolidation is near this level. The breakdown of the level of 1.1353 should be accompanied by a pronounced move to the level of 1.1326. The potential value for the bottom is considered the level of 1.1307, near which we expect consolidation in the range of 1.1307 - 1.1353.
The corrective uptrend is possible in the range of 1.1405 - 1.1419 and the breakdown of the latter value will lead to a prolonged correction. Here, the target is 1.1441 and this level is the key support for the downward structure.
The main trend is the downward structure of January 31.
Trading recommendations:
Buy 1.1405 Take profit: 1.1419
Buy 1.1421 Take profit: 1.1440
Sell: 1.1375 Take profit: 1.1355
Sell: 1.1350 Take profit: 1.1326
For the currency pair Pound / Dollar, the key levels on the H1 scale are 1.3068, 1.3015, 1.2991, 1.2929, 1.2885, 1.2828 and 1.2789. Here, we continue to monitor the downward cycle of January 28th. The short-term downward movement is possible in the range of 1.2929 - 1.2885 and the breakdown of the latter value should be accompanied by a pronounced downward movement. Here, the target is 1.2828. The potential value for the bottom is considered the level of 1.2789, after reaching which we expect consolidation, as well as a rollback to the correction.
The corrective movement is possible in the range of 1.2991 - 1.3015 and the breakdown of the last value will lead to a prolonged correction. Here, the target is 1.3068.
The main trend is the downward cycle of January 28.
Trading recommendations:
Buy: 1.2991 Take profit: 1.3015
Buy: 1.3017 Take profit: 1.3060
Sell: 1.2929 Take profit: 1.2888
Sell: 1.2883 Take profit: 1.2830
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, we are following the ascending structure 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 rising structure 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 1.3274, 1.3257, 1.3226, 1.3206, 1.3176, 1.3152 and 1.3117. Here, we are following the development of the ascending cycle of February 1. The short-term upward movement is possible in the range of 1.3206 - 1.3226 and the breakdown of the latter value should be accompanied by a pronounced upward movement. Here, the target is 1.3257 and the potential value for the top is considered the level of 1.3274, after reaching which we expect consolidation.
The corrective movement is possible in the range of 1.3176 - 1.3152 and the breakdown of the latter value will lead to an in-depth correction. Here, the goal is 1.3117 and this level is the key support for the upward structure.
The main trend is the upward cycle from February 1.
Trading recommendations:
Buy: 1.3206 Take profit: 1.3224
Buy: 1.3228 Take profit: 1.3255
Sell: 1.3174 Take profit: 1.3154
Sell: 1.3150 Take profit: 1.3125
For the currency pair Australian dollar / Dollar, the key levels on the H1 scale are 0.7193, 0.7169, 0.7150, 0.7112, 0.7085, 0.7049 and 0.7025. Here, we are following the development of the downward structure of January 31. The short-term downward movement is expected in the range of 0.7112 - 0.7085 and the breakdown of the latter value will lead to a pronounced movement. Here, the target is 0.7049. The potential value for the top is considered to be the level of 0.7025, after reaching which we expect consolidation and rollback to the top.
The short-term upward movement is possible in the range of 0.7150 - 0.7169 and the breakdown of the latter value will lead to a deep correction. Here, the target is 0.7193 and this level is the key support for the downward structure.
The main trend is the downward cycle of January 31.
Trading recommendations:
Buy: 0.7150 Take profit: 0.7167
Buy: 0.7171 Take profit: 0.7193
Sell: 0.7112 Take profit: 0.7088
Sell: 0.7083 Take profit: 0.7050
For the currency pair Euro / Yen, the key levels on the H1 scale are 126.46, 125.98, 125.52, 124.91, 124.53 and 123.74. Here, we expect the initial conditions for the downward cycle. The short-term downward movement is possible in the range of 124.91 - 124.53 and the breakdown of the latter value should be accompanied by a pronounced movement. Here, the potential target is 123.74.
The short-term upward movement is possible in the range of 125.52 - 125.98 and the breakdown of the latter value will have to develop an upward trend on the scale of H1. Here, the first potential target is 126.46.
The main trend is the equilibrium situation.
Trading recommendations:
Buy: 125.52 Take profit: 125.95
Buy: 126.00 Take profit: 126.46
Sell: 124.88 Take profit: 124.55
Sell: 124.44 Take profit: 123.80
For the currency pair Pound / Yen, the key levels on the H1 scale are 143.35, 142.86, 142.53, 141.84, 141.18, 140.38 and 139.80. Here, the price set the initial conditions for the development of a local downward cycle of February 4. We expect short-term downward movement in the range of 141.84 - 141.18 and the breakdown of the latter value should be accompanied by a pronounced downward movement. Here, the target is 140.38. The potential value for the bottom is considered the level of 139.80, after reaching which we expect consolidation, as well as rollback to the top.
The short-term upward movement is possible in the range of 142.53 - 142.86 and the breakdown of the latter value will lead to a deep correction. Here, the target is 143.35 and this level is the key support for the bottom.
The main trend is the initial conditions for the downward cycle of February 4.
Trading recommendations:
Buy: 142.53 Take profit: 142.84
Buy: 142.88 Take profit: 143.35
Sell: 141.80 Take profit: 141.20
Sell: 141.15 Take profit: 140.45
