Forecast for May 31:
Analytical review of H1-scale currency pairs:
For the euro / dollar pair, the key levels on the H1 scale are: 1.1171, 1.1157, 1.1146, 1.1123, 1.1115, 1.1099, 1.1080 and 1.1067. Here, we continue to follow the development of the downward structure of May 27. Continuation of the movement to the bottom is expected after the price passes the noise range 1.1123 - 1.1115. In this case, the target is 1.1099. Price consolidation is near this level. The breakdown of the level of 1.1099 will lead to movement to the level of 1.1080. For the potential value for the bottom, we consider the level of 1.1067, upon reaching which, we expect consolidation in the corridor of 1.1080 - 1.1067.
Short-term upward movement is possible in the range 1.1146 - 1.1157. The breakdown of the last value will lead to a prolonged correction. Here, the target is 1.1171. This level is a key support for the bottom.
The main trend is the downward structure of May 27.
Trading recommendations:
Buy 1.1146 Take profit: 1.1156
Buy 1.1158 Take profit: 1.1170
Sell: 1.1115 Take profit: 1.1100
Sell: 1.1097 Take profit: 1.1083
For the pound / dollar pair, the key levels on the H1 scale are: 1.2715, 1.2667, 1.2637, 1.2553, 1.2478 and 1.2428. Here, the continuation of the movement to the bottom is expected after the breakdown at 1.2553. In this case, the goal is 1.2478. We consider the level of 1.2428 to be a potential value for the bottom. Upon reaching this level, we expect consolidation in the corridor 1.2478 - 1.2428, as well as a departure to a correction.
Short-term uptrend is possible in the corridor 1.2637 - 1.2667. The breakdown of the latter value will lead to a prolonged correction. Here, the goal is 1.2715. This level is a key support for the downward structure. Its price passage will have to form the initial conditions for the upward cycle.
The main trend is the downward structure of May 21.
Trading recommendations:
Buy: 1.2637 Take profit: 1.2666
Buy: 1.2668 Take profit: 1.2715
Sell: 1.2550 Take profit: 1.2480
Sell: 1.2476 Take profit: 1.2428
For the dollar / franc pair, the key levels on the H1 scale are: 1.0137, 1.0118, 1.0094, 1.0082, 1.0057, 1.0048 and 1.0034. Here, we continue to follow the development of the ascending structure of May 24. Short-term upward movement is expected in the corridor 1.0082 - 1.0094. The breakdown of the last value should be accompanied by a pronounced upward movement. In this case, the target is 1.0118. For the potential value to the top, we consider the level of 1.0137. The movement to which is expected after the breakdown of 1.0120.
Short-term downward movement is possible in the corridor 1.0057 - 1.0048. The breakdown of the last value will lead to a prolonged correction. Here, the goal is 1.0034. This level is a key support for the upward structure.
The main trend is the ascending structure of May 24.
Trading recommendations:
Buy : 1.0082 Take profit: 1.0094
Buy : 1.0096 Take profit: 1.0118
Sell: 1.0057 Take profit: 1.0048
Sell: 1.0046 Take profit: 1.0036
For the dollar / yen pair, the key levels on the scale are : 110.21, 109.94, 109.73, 109.14, 108.98, 108.51 and 108.18. Here, the price forms the medium-term initial conditions for the downward cycle of May 21. Continuation of the movement to the bottom is expected after the price passes the noise range 109.14 - 108.98. In this case, the goal is 108.51. We expect consolidation near this level. For the potential value to the top, we consider the level of 108.18, after reaching which, we expect a possible rollback to the correction.
Short-term upward movement is possible in the corridor 109.73 - 109.94. The breakdown of the latter value will lead to in-depth correction. Here, the goal is 110.21. This level is a key support for the downward cycle.
The main trend: the formation of medium-term initial conditions for the downward cycle of May 21.
Trading recommendations:
Buy: 109.73 Take profit: 109.92
Buy: 109.95 Take profit: 110.20
Sell: 108.98 Take profit: 108.55
Sell: 108.48 Take profit: 108.20
For the Canadian dollar / US dollar pair, the key levels on the H1 scale are: 1.3651, 1.3611, 1.3556, 1.3491, 1.3464 and 1.3428. Here, we continue to follow the development of the ascending structure of May 22. Short-term upward movement is expected in the corridor 1.3534 - 1.3556. The breakdown of the last value should be accompanied by a pronounced upward movement. In this case, the target is 1.3611. For the potential value to the top, we consider the level of 1.3651, after reaching which, we expect to go into correction.
Short-term downward movement is possible in the corridor 1.3491 - 1.3464. Breaking the last value will lead to a prolonged correction. Here, the goal is 1.3428. This level is a key support to the top.
The main trend is the upward cycle of May 22.
Trading recommendations:
Buy: 1.3534 Take profit: 1.3555
Buy : 1.3558 Take profit: 1.3610
Sell: 1.3490 Take profit: 1.3466
Sell: 1.3462 Take profit: 1.3433
For the Australian dollar / US dollar pair, the key levels on the H1 scale are : 0.7013, 0.6994, 0.6965, 0.6955, 0.6941, 0.6910, 0.6897, 0.6882 and 0.6863. Here, the price forms the expressed initial conditions for the top of May 23. Continuation of the movement to the top is expected after the breakdown 0.6941. Here, the first goal is 0.6955. Price consolidation is found near this level. The price passage of the noise range of 0.6955 - 0.6965 should be accompanied by a pronounced upward movement. In this case, the target is 0.6994. For the potential value to the top, we consider the level of 0.7013, after reaching which, we expect a rollback to the bottom.
Short-term downward movement is possible in the range of 0.6910 - 0.6897. The breakdown of the latter value will lead to a prolonged movement. Here, the target is 0.6882. This level is a key support for the upward structure.
The main trend is the formation of initial conditions for the top of May 23.
Trading recommendations:
Buy: 0.6941 Take profit: 0.6955
Buy: 0.6967 Take profit: 0.6992
Sell : 0.6910 Take profit : 0.6898
Sell: 0.6895 Take profit: 0.6884
For the euro / yen pair, the key levels on the H1 scale are: 122.72, 122.42, 122.23, 121.76, 121.54, 120.96 and 120.59. Here, we are following the development of the mid-term downward structure of May 21. Short-term downward movement is expected in the range of 121.76 - 121.54. The breakdown of the last value should be accompanied by a pronounced downward movement. Here, the goal is 120.96. For the potential value at the bottom, we consider the level of 120.59, after reaching which, we expect consolidation, as well as a rollback to the correction.
Short-term uptrend is possible in the corridor 122.23 - 122.42. The breakdown of the latter value will lead to a prolonged correction. Here, the goal is 122.72. This level is a key support for the downward structure. Before it, we expect clearance of the expressed initial conditions to the top.
The main trend is a mid-term downward structure of May 21.
Trading recommendations:
Buy: 122.23 Take profit: 122.40
Buy: 122.44 Take profit: 122.70
Sell: 121.76 Take profit: 121.56
Sell: 121.50 Take profit: 121.00
For the pound / yen pair, the key levels on the H1 scale are : 139.14, 138.76, 138.24, 137.49, 136.85 and 136.00. Here, we are following the development of the downward structure of May 21. Continuation of the movement to the bottom is expected after the breakdown of the level 137.49. In this case, the target is 136..85, near which the price consolidation is possible. Breakdown at level 136.85 will allow to count on the movement to the potential value - 136.00, after reaching which, we expect a rollback to the top.
Care in the correction is possible after the breakdown of 138.24. In this case, the first target is 138.76. In the corridor 138.76 - 139.14, we expect a short-term upward movement. The level 139.14 is a key support at the bottom. Its price passage will have to form the initial conditions for the upward cycle.
The main trend is a local downward structure of May 21.
Trading recommendations:
Buy: 138.25 Take profit: 138.74
Buy: 138.76 Take profit: 139.14
Sell: 137.46 Take profit: 136.90
Sell: 136.80 Take profit: 136.10
