Dear colleagues.
For the currency pair Euro / Dollar, we expect the downward movement after the breakdown of 1.1326, and we consider the upward movement as a correction. For the currency pair Pound / Dollar, the price forms a small initial condition for the top of February 7 in the correction of the downward cycle. For the currency pair Dollar / Franc, the upward trend development is expected after the breakdown of 1.0027. For the currency pair Dollar / Yen, the upward structure of January 31 is expected to continue to develop after the breakdown of 110.22 and at the moment, the price is in the zone of initial conditions. For the currency pair Euro / Yen, we expect further development of the downward structure of February 4 after the breakdown of 124.30. For the currency pair Pound / Yen, we continue to monitor the downward structure of February 4.
Forecast for February 8:
Analytical review of H1-scale currency pairs:
For the currency pair Euro / Dollar, the key levels on the H1 scale are 1.1416, 1.1384, 1.1366, 1.1326, 1.1307, 1.1284, 1.1271 and 1.1245. Here, we are following the development of the downward structure of January 31. The short-term downward movement is expected in the range of 1.1326 - 1.1307 and the breakdown of the latter value should be accompanied by a pronounced downward movement. Here, the target is 1.1284 and in the range of 1.1284 - 1.1271 is the price consolidation. The potential value for the bottom is considered the level of 1.1245, after reaching which we expect a departure to a correction.
The corrective uptrend is possible in the range of 1.1366 - 1.1384 and the breakdown of the latter value will lead to a prolonged correction. Here, the target is 1.1416 and this level is the key support for the downward structure.
The main trend is the downward structure of January 31.
Trading recommendations:
Buy 1.1366 Take profit: 1.1384
Buy 1.1386 Take profit: 1.1414
Sell: 1.1326 Take profit: 1.1307
Sell: 1.1305 Take profit: 1.1284
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, the price issued a small initial condition for the upward movement in the correction of the downward structure on January 28. 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 correction 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, the stage of correction.
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 1.0114, 1.0081, 1.0058, 1.0027, 1.0009, 0.9998 and 0.9978. Here, we are following the ascending structure of January 31. The continuation of the upward trend development is expected after the breakdown of 1.0027. In this case, the target is 1.0058 and in the range of 1.0058 - 1.0081 is the short-term upward movement, as well as consolidation. The potential value for the top is considered the level of 1.0114, 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 1.0009 - 0.9998 and the breakdown of the latter value will lead to an in-depth correction. Here, the target is 0.9978.
The main trend is the ascending structure of January 31.
Trading recommendations:
Buy: 1.0027 Take profit: 1.0058
Buy: 1.0060 Take profit: 1.0080
Sell: 1.0009 Take profit: 0.9998
Sell: 0.9996 Take profit: 0.9978
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 a 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 1.3432, 1.3401, 1.3348, 1.3327, 1.3293, 1.3269, 1.3240 and 1.3206. Here, in connection with the intensive development of volatility, we have defined subsequent targets for the top of large initial conditions (see image). The movement upwards is expected after the price passes the range of 1.3327 - 1.3348. In this case, the target is 1.3401. The potential value for the top is considered the level of 1.3432, 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 1.3293 - 1.3269 and the breakdown of the latter value will lead to an in-depth correction. Here, the target is 1.3240 and this level is the key support for the top. Its price passage will count on the movement towards the potential target of 1.3206.
The main trend is the ascending structure of January 31.
Trading recommendations:
Buy: 1.3350 Take profit: 1.3400
Buy: 1.3404 Take profit: 1.3430
Sell: 1.3293 Take profit: 1.3270
Sell: 1.3267 Take profit: 1.3240
For the currency pair Australian dollar / dollar, the key levels on the H1 scale are 0.7168, 0.7132, 0.7113, 0.7049, 0.7025, 0.6995 and 0.6977. Here, we are following the development of the downward structure of January 31. The short-term downward movement is expected in the range of 0.7049 - 0.7025 and the breakdown of the latter value should be accompanied by a pronounced downward movement. Here, the target is 0.6995 and the potential value for the bottom is 0.6977, upon reaching which we expect consolidated movement in the range of 0.6977 - 0.6995, as well as a rollback to the top.
The short-term upward movement is possible in the range of 0.7113 - 0.7132 and the breakdown of the latter value will lead to a deep correction. Here, the target is 0.7168 and this level is the key support for the downward structure.
The main trend is the downward cycle of January 31.
Trading recommendations:
Buy: 0.7113 Take profit: 0.7130
Buy: 0.7134 Take profit: 0.7166
Sell: 0.7047 Take profit: 0.7027
Sell: 0.7025 Take profit: 0.6995
For the currency pair Euro / Yen, the key levels on the H1 scale are 125.98, 125.43, 125.11, 124.79, 124.33, 123.93, 123.61 and 123.22. Here, we are following the development of the downward structure of February 4. The downward movement is expected after the breakdown of 124.30. In this case, the target is 123.93 and in the range of 123.93 - 123.61 is the short-term downward movement, as well as consolidation. The potential value for the bottom is considered the level of 123.22, from which the probability of a rollback to the correction is high.
The exit to correction is expected after the breakdown of 124.79. Here, the first target is 125.18. The short-term upward movement is possible in the range of 125.11 - 125.43 and the breakdown of the latter value will have to form an upward structure on the scale of H1. Here, the first potential target is 125.43.
The main trend is the downward structure of February 4.
Trading recommendations:
Buy: 124.80 Take profit: 125.10
Buy: 125.14 Take profit: 125.40
Sell: 124.30 Take profit: 124.00
Sell: 123.90 Take profit: 123.66
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, we continue to monitor the downward structure of February 4. We expect short-term downward movement in the range of 141.84 - 141.18. 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 a 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
