Hello, dear colleagues.
For the Euro/Dollar pair, we expect the continuation of the downward cycle from November 21 after the breakdown of 1.0983 and the level of 1.1045 is the key support. For the Pound/Dollar pair, we monitor the formation of the local potential for the high from November 27; the level of 1.2957 is the key resistance and the level of 1.2873 is the key support. For the Dollar/Franc pair, the price is in correction from the upward structure; the level of 1.0006 is the key resistance for the top and the level of 0.9956 is the key support. For the Dollar/Yen pair, we follow the development of the upward structure from November 21 and the level of 109.27 is the key support. For the Euro/Yen pair, we follow the upward structure of November 22 and the level of 120.21 is the key support. For the Pound/Yen pair, we follow the development of the upward cycle from November 22 and the level of 142.06 is the key resistance.
Forecast for December 2:
Analytical review of currency pairs on the H1 scale:
For the Euro/Dollar pair, the key levels on the H1 scale are 1.1045, 1.1024, 1.1010, 1.0983, 1.0953, and 1.0931. We continue to monitor the development of the downward structure of November 21. At the moment, the price is in a correction. The continuation of the downward movement is expected after the breakdown of 1. 1.0983. In this case, the target is 1.0953 and consolidation is near this level. We consider the level of 1.0931 as a potential value for the bottom, upon reaching this value, we expect a rollback to the top.
The short-term upward movement is expected in the range of 1.1010-1.1024 and the breakdown of the last value will lead to an in-depth correction. The target is 1.1045 and this level is the key support for the downward structure.
The main trend is the downward structure of November 21
Trading recommendations:
Buy: 1.1010 Take profit: 1.1022
Buy: 1.1025 Take profit: 1.1045
Sell: 1.0983 Take profit: 1.0955
Sell: 1.0951 Take profit: 1.0931
For the Pound/Dollar pair, the key levels on the H1 scale are 1.3075, 1.3043, 1.2994, 1.2957, 1.2903, 1.2873, 1.2842, and 1.2817. We follow the formation of the initial conditions for the upward cycle of November 27. The continuation of the upward movement is expected after the breakdown of 1.2957. In this case, the target is 1.2994 and consolidation is near this level. The breakout of the level of 1.2995 should be accompanied by a pronounced upward movement. The target is 1.3043. We consider the level of 1.3075 as a potential value for the top, upon reaching this level, we expect consolidation, as well as a pullback to the bottom.
The short-term downward movement is possible in the range of 1.2903-1.2873 and the breakdown of the last value will lead to an in-depth correction. The target is 1.2842 and this level is the key support for the top.
The main trend is the formation of an upward structure from November 27.
Trading recommendations:
Buy: 1.2957 Take profit: 1.2992
Buy: 1.2996 Take profit: 1.3043
Sell: 1.2903 Take profit: 1.2875
Sell: 1.2870 Take profit: 1.2844
For the Dollar/Franc pair, the key levels on the H1 scale are 1.0039, 1.0023, 1.0000, 0.9972, 0.9956, 0.9938, and 0.9919. We follow the development of the upward structure from November 18. At the moment, the price is in the correction zone. The continuation of the upward movement is possible after the breakdown of 1.0006. In this case, the first target is 1.0023. We consider the level of 1.0039 as a potential value and we expect consolidation near this value.
The subsequent development of the correction is expected in the range of 0.9972-0.9956 and the breakdown of the last value will lead to the formation of pronounced initial conditions for the downward cycle. The potential target is 0.9938.
The main trend is the upward structure of November 18, the correction stage.
Trading recommendations:
Buy: 1.0006 Take profit: 1.0023
Buy: 1.0025 Take profit: 1.0039
Sell: 0.9972 Take profit: 0.9957
Sell: 0.9955 Take profit: 0.9939
For the Dollar/Yen pair, the key levels in the H1 scale are 110.17, 109.89, 109.75, 109.54, 109.27, 109.11, and 108.89. We follow the development of the upward structure of November 21. The continuation of the upward movement is expected after the breakdown of 109.54. In this case, the target is 109.75 and in the area of 109.75-09.89 is the short-term upward movement, as well as consolidation. We consider the level of 110.17 to be the potential value for the top; we expect the movement to this value after the breakdown of 109.90.
The short-term downward movement is expected in the range of 109.27-109.11 and the breakdown of the last value will lead to an in-depth correction. The target is 108.89 and this level is the key support for the top.
The main trend is the development of the upward structure of November 21.
Trading recommendations:
Buy: 109.55 Take profit: 109.75
Buy: 109.77 Take profit: 109.88
Sell: 109.25 Take profit: 109.13
Sell: 109.08 Take profit: 108.92
For the Canadian dollar/Dollar pair, the key levels on the H1 scale are 1.3404, 1.3387, 1.3355, 1.3334, 1.3311, 1.3298, 1.3278, and 1.3250. We follow the upward structure of November 19. The continuation of the upward movement is expected after the breakdown of 1.3311. In this case, the first target is 1.3334. The short-term upward movement is expected in the area of 1.3334-1.3355 and the breakdown of the last value should be accompanied by a pronounced upward movement. The target is 1.3387 and in the area of 1.3387-1.3404 is the price consolidation, where we can expect a correction.
Short-term downward movement, as well as consolidation, are possible in the area of 1.3298-1.3278 and the breakdown of the latter value will lead to an in-depth correction. The target is 1.3250 and this level is the key support for the upward structure.
The main trend is the upward structure of November 19, the correction stage.
Trading recommendations:
Buy: 1.3311 Take profit: 1.3333
Buy: 1.3335 Take profit: 1.3355
Sell: 1.3276 Take profit: 1.3252
Sell: 1.3248 Take profit: 1.3220
For the Australian dollar/Dollar pair, the key levels on the H1 scale are 0.6833, 0.6814, 0.6799, 0.6787, 0.6767, 0.6748, 0.6735, and 0.6717. We follow the development of the downward structure of November 19. At the moment, the price is in a correction. The continuation of the downward movement is expected after the breakdown of 0.6765. In this case, we expect a pronounced movement to the level of 0.6748 and in the area of 0.6748-0.6735 is the price consolidation. We consider the level of 0.6717 as a potential value for the bottom, upon reaching this value, we expect a correction.
The short-term upward movement is expected in the area of 0.6787-0.6799 and the breakdown of the last value will lead to an in-depth correction. The target is 0.6814 and this level is the key support for the downward trend.
The main trend is the local downward structure of November 19, the correction stage.
Trading recommendations:
Buy: 0.6787 Take profit: 0.6797
Buy: 0.6800 Take profit: 0.6814
Sell: 0.6766 Take profit: 0.6750
Sell: 0.6746 Take profit: 0.6736
For the Euro/Yen pair, the key levels on the H1 scale are 121.55, 121.29, 120.94, 120.62, 120.21, 119.99, and 119.64. We follow the local upward structure from November 22. We expect the continuation of the upward movement after the breakdown of 120.62. In this case, the target is 120.94 and consolidation is near this level. The breakout of 120.95 should be accompanied by a pronounced upward movement. The target is 121.29. We consider the level of 121.55 as a potential value for the top, upon reaching which, we expect consolidation, as well as a pullback to the bottom.
The short-term downward movement is expected in the area of 120.21-119.99 and the breakdown of the latter value will have the potential to form a downward movement. The potential target is 119.64.
The main trend is the local upward structure from November 22.
Trading recommendations:
Buy: 120.62 Take profit: 120.92
Buy: 120.96 Take profit: 121.27
Sell: 120.21 Take profit: 120.00
Sell: 119.96 Take profit: 119.66
For the Pound/Yen pair, the key levels on the H1 scale are 143.45, 143.09, 142.50. 142.06, 141.15, 140.72, and 140.24. We follow the development of the upward cycle of November 22. The short-term upward movement is expected in the area of 142.06-142.50 and the breakdown of the last value will lead to a pronounced movement. The target is 143.09. We consider the level of 143.45 as a potential value for the top, upon reaching this level, we expect to go into correction.
A short-term downward movement is possible in the area of 141.15-140.72 and the breakdown of the last value will lead to an in-depth correction. The target is 140.24 and this level is the key support for the top.
The main trend is the upward structure from November 22.
Trading recommendations:
Buy: 142.06 Take profit: 142.50
Buy: 142.52 Take profit: 143.07
Sell: 141.15 Take profit: 140.74
Sell: 140.70 Take profit: 140.26
