Outlook on September 29:
Analytical overview of major pairs on the H1 TF:
The key levels for the euro/dollar pair on the H1 chart are: 1.1786, 1.1744, 1.1710, 1.1684, 1.1624, 1.1593, 1.1541 and 1.1509. We are following the descending structure from September 21 here. A short-term downward movement is expected in the range of 1.1624 - 1.1593. Now, if the last level breaks down, it will lead to a strong decline. The next target will be 1.1541. For the potential value for the bottom, we consider the level 1.1509. Upon reaching which, we expect consolidation and upward pullback.
A short-term upward movement is possibly in the range of 1.1710 - 1.1684. In case of breakdown of the last value, it will lead to a deep correction. The target here is 1.1744, which is the key support level for a downward structure and its breakdown will be helpful to the formation of initial conditions for an upward cycle. In this case, the potential target is 1.1786.
The main trend is the descending structure from September 21, the correction stage
Trading recommendations:
Buy: 1.1684 Take profit: 1.1710
Buy: 1.1712 Take profit: 1.1744
Sell: 1.1623 Take profit: 1.1594
Sell: 1.1592 Take profit: 1.1541
The key levels for the pound/dollar pair are 1.3170, 1.3107, 1.3016, 1.2939, 1.2808, 1.2752, 1.2689 and 1.2606. Here, the price forms strong initial conditions for the September 25 high. On the other hand, the growth is expected to continue after breaking through the level of 1.2939. In this case, the target is 1.3016 and price consolidation is near this level. If the indicated target breaks down, it should be accompanied by a strong increase. The next target will be 1.3107. For the potential value for the top, we consider the level of 1.3170. Upon reaching which, we expect consolidation and downward pullback.
A short-term downward movement is expected in the range of 1.2808 - 1.2752. If the last value breaks down, it will lead to the cancellation of the upward structure from September 25. The first target is 1.2689. In the meantime, we consider the level 1.2606 as a potential value for the bottom.
The main trend is the formation of initial conditions for the top of September 25
Trading recommendations:
Buy: 1.2940 Take profit: 1.3014
Buy: 1.3017 Take profit: 1.3105
Sell: 1.2808 Take profit: 1.2754
Sell: 1.2750 Take profit: 1.2690
The key levels for the dollar/franc pair are 0.9371, 0.9342, 0.9310, 0.9277, 0.9256, 0.9228, 0.9210, 0.9185 and 0.9168. We are following the upward structure from September 16 here. At the moment, the price is in correction. On the other hand, a short-term upward movement is expected in the range of 0.9256 - 0.9277. In case of breaking through the last value, it will lead to a strong movement. Here, the first target is 0.9310. If this breaks down, it will continue the development of the main trend. In this case, the target is 0.9342. For the potential value for the top, we consider the level of 0.9371, from which we expect a downward pullback.
A short-term downward movement is possible in the range of 0.9228 - 0.9210. Breaking through the last value will lead to the development of the downward structure from September 25. In this case, the goal is 0.9185. Meanwhile, price consolidation is in the range of 0.9185-0.9168, from which an upward pullback is expected.
The main trend is the upward cycle from September 16, the correction stage
Trading recommendations:
Buy : 0.9256 Take profit: 0.9275
Buy : 0.9280 Take profit: 0.9310
Sell: 0.9228 Take profit: 0.9210
Sell: 0.9208 Take profit: 0.9185
The key levels for the dollar/yen are 106.21, 106.02, 105.73, 105.28, 105.11 and 104.86. We are following the development of the downward pattern from September 21. Now, the growth of the pair is expected to continue after breaking through the level of 105.73. In this case, we expect a strong upward movement to the level of 106.02. We consider the last value as a potential value for the top. Upon reaching which, we expect consolidation and downward pullback.
A short-term downward movement is expected in the range of 105.28 - 105.11. In case that the last value breaks down, it will lead to a deep correction. The target is 104.86, which is a key support for the upward structure.
The main trend is the upward structure from September 21
Trading recommendations:
Buy: 105.75 Take profit: 106.02
Buy : 106.03 Take profit: 106.20
Sell: 105.28 Take profit: 105.12
Sell: 105.08 Take profit: 104.86
The key levels for the USD/CAD pair are 1.3573, 1.3507, 1.3457, 1.3430, 1.3351, 1.3303 and 1.3252. Here, we consider the upward structure of September 18 as medium-term. Meanwhile, the upward movement is expected to continue after the price passes the noise range 1.3430 - 1.3457. In this case, the target is 1.3507 and there is consolidation near this level. On the other hand, we consider the level 1.3573 as a potential value for the top. Upon reaching which, we expect a downward pullback.
A short-term downward movement is possible in the range of 1.3351 - 1.3303 and breaking through the last value will encourage the formation of an initial structure for a downward cycle. The target is 1.3252.
The main trend is the local upward structure of September 18
Trading recommendations:
Buy: 1.3457 Take profit: 1.3507
Buy : 1.3509 Take profit: 1.3573
Sell: 1.3349 Take profit: 1.3305
Sell: 1.3301 Take profit: 1.3254
The key levels for the AUD/USD pair are 0.7163, 0.7112, 0.7082, 0.7037, 0.7005 and 0.6961. Here we are following the development of the downward cycle from September 16. Currently, the price is in correction. On the other hand, a short-term downward movement is expected in the range of 0.7037 - 0.7005, breaking through the last value will lead to a movement to a potential target - 0.6961. We expect an upward pullback from this level.
A short-term upward movement is possible in the range of 0.7082 - 0.7112. If the last value breaks down, it will lead to a deep correction. The target here is 0.7163. We expect the initial conditions for the upward cycle to be formed before this level.
The main trend is the downward cycle from September 16, the stage of correction
Trading recommendations:
Buy: 0.7082 Take profit: 0.7112
Buy: 0.7114 Take profit: 0.7160
Sell : 0.7035 Take profit : 0.7007
Sell: 0.7003 Take profit: 0.6965
The key levels for the euro/yen pair are 124.23, 123.81, 123.56, 123.16, 122.41, 121.86, 121.20 and 120.74. Here, we are following the local descending structure from September 18. The price is currently in a correction. So now, the decline is expected to continue after breaking through the level of 122.41. In this case, the target is 121.86 and there is consolidation near this level. If the target breaks down, it will lead to a sharp decline. Here, our next target is 121.20. For the potential value for the bottom, we consider the level of 120.74. Upon reaching which, we expect consolidation and upward pullback.
A short-term upward movement and consolidation is expected in the range of 123.16 - 123.56. On the other hand, the range of 123.56 - 123.81 is the key support for the downward pattern and the price passing this range will lead to the development of an upward structure. The first potential target here is 124.23.
The main trend is the local downward structure of September 18, the stage of correction
Trading recommendations:
Buy: 123.16 Take profit: 123.56
Buy: 123.81 Take profit: 124.23
Sell: 122.40 Take profit: 121.88
Sell: 121.84 Take profit: 121.20
The key levels for the pound/yen pair are 139.31, 138.51, 137.32, 136.36, 135.00, 134.58, 133.81 and 133.12. Here, we regard the rising structure of September 23 as a medium-term. The growth of the pair is expected to continue after breaking through the level of 136.36. In this case, the target is 137.32 and there is consolidation around this level. Now, if the level of 137.34 breaks down, it should be accompanied by a strong upward movement, The target here is 138.51. For the potential value for the top, we consider the level of 139.31, from which a downward pullback is expected.
A short-term downward movement is expected in the range of 135.00 - 134.58. If the last value breaks down, it will encourage the development of a downward structure. Here, the first potential target is 133.81.
The main trend is the medium-term upward structure of September 23
Trading recommendations:
Buy: 136.36 Take profit: 137.30
Buy: 137.35 Take profit: 138.50
Sell: 135.00 Take profit: 134.60
Sell: 134.52 Take profit: 133.85
