Dear colleagues.
For the currency pair Euro / Dollar, we mainly expect a departure from the downward movement in the correction. For the currency pair Pound / Dollar, we returned to the review of the downward cycle of January 28; we consider the upward movement as a correction. For the currency pair Dollar / Franc, the price has issued a local structure for the top of February 11 and the development of which is expected after the breakdown of 1.0055. For the currency pair Dollar / Yen, the upward structure development from January 31 is expected to continue after the breakdown of 110.66. 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 and we expect to continue downwards after the breakdown of 141.80.
Forecast for February 12:
Analytical review of H1-scale currency pairs:
For the currency pair Euro / Dollar, the key levels on the H1 scale are 1.1355, 1.1326, 1.1307, 1.1271, 1.1245 and 1.1217. We continue to follow the development of the downward structure of January 31. The downward movement is expected to continue after the breakdown of 1.1271. In this case, the goal is 1.1245 and price consolidation is near this level. Hence, the probability of going into a correction is high. The potential value for the bottom is considered the level of 1.1217.
The corrective uptrend is possible in the area of 1.1307 - 1.1326 and the breakdown of the last value will lead to a prolonged correction. The target is 1.1355 and this level is the key support for the downward structure.
The main trend is the downward structure of January 31.
Trading recommendations:
Buy 1.1307 Take profit: 1.1324
Buy 1.1328 Take profit: 1.1355
Sell: 1.1270 Take profit: 1.1247
Sell: 1.1244 Take profit: 1.1220
For the currency pair Pound / Dollar, the key levels on the H1 scale are 1.2991, 1.2929, 1.2885, 1.2828, 1.2789 and 1.2722. We continue to monitor the downward trend of January 28. The short-term downward movement is expected in the area of 1.2828 - 1.2789 and the breakdown of the latter value will lead to a movement to the potential target of 1.2722, upon reaching which we expect a rollback to the top.
The corrective movement is possible in the range of 1.2885 - 1.2929 and the breakdown of the last value will lead to a prolonged correction. The target is 1.2991.
The main trend is the downward cycle of January 28.
Trading recommendations:
Buy: 1.2885 Take profit: 1.2927
Buy: 1.2932 Take profit: 1.2990
Sell: 1.2826 Take profit: 1.2792
Sell: 1.2787 Take profit: 1.2724
For the currency pair Dollar / Franc, the key levels on the H1 scale are 1.0117, 1.0101, 1.0075, 1.0055, 1.0027, 1.0013, 0.9999 and 0.9987. The price has issued a local structure for the top of February 11th. An upward movement is expected after the breakdown of 1.0055. In this case, the target is 1.0075 and consolidation is near this value. The breakdown of the level of 1.0075 should be accompanied by a pronounced upward movement. The goal is 1.0101. The potential value for the top is considered the level of 1.0117, after reaching which we expect consolidation and rollback downwards.
The short-term downward movement is expected in the area of 1.0027 - 1.0013 and the breakdown of the last value will lead to a prolonged correction. The target is 0.9999 and this level is the key support.
The main trend is the local rising structure of February 11.
Trading recommendations:
Buy: 1.0055 Take profit: 1.0075
Buy: 1.0078 Take profit: 1.0101
Sell: 1.0027 Take profit: 1.0015
Sell: 1.0012 Take profit: 1.0000
For the currency pair Dollar / Yen, the key levels on the scale of H1 are 111.74, 111.32, 111.08, 110.66, 110.22, 109.97 and 109.64. We continue to monitor the ascending structure of January 31. The continuation of the movement upward is expected after the breakdown of 110.66. The goal is 111.08 and in the area of 111.08 - 111.32 is the price consolidation. The breakdown of the level of 111.33 should be accompanied by a pronounced upward movement. The potential target is 111.74, from this level, we expect a downward rollback.
The short-term downward movement is possible in the area of 110.22 - 109.97 and the breakdown of the latter value will lead to a prolonged correction. The goal is 109.64 and this level is the key support for the upward structure.
The main trend is the rising structure of January 31.
Trading recommendations:
Buy: 110.66 Take profit: 111.08
Buy: 111.10 Take profit: 111.30
Sell: 110.22 Take profit: 110.00
Sell: 110.95 Take profit: 109.66
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. The price is in the correction zone from the ascending structure on January 31. 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 area of 1.3293 - 1.3269 and the breakdown of the latter value will lead to an in-depth correction. 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 upward 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. We are following the development of the downward structure of January 31. The short-term downward movement is expected in the area of 0.7049 - 0.7025 and the breakdown of the latter value should be accompanied by a pronounced downward movement. The target is 0.6995 and the potential value for the bottom is 0.6977, upon reaching which we expect a consolidated movement in the area of 0.6977 - 0.6995, as well as a rollback to the top.
The short-term upward movement is possible in the area of 0.7113 - 0.7132 and the breakdown of the latter value will lead to a deep correction. 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. 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 area of 123.93 - 123.61 is the short-term downward movements, 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.
Exit to correction is expected after the breakdown of 124.79. 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. 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. We continue to monitor the downward structure 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. 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 area of 142.53 - 142.86 and the breakdown of the latter value will lead to a deep correction. 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
