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Forecast for November 8:

Analytical review of currency pairs on the scale of H1:

Exchange Rates 08.11.2019 analysis

For the euro / dollar pair, the key levels on the H1 scale are: 1.1108, 1.1080, 1.1064, 1.1045, 1.1034, 1.1008 and 1.0990. Here, we are following the development of the downward cycle of November 4. The continuation of the movement to the bottom is expected after the price passes the noise range 1.1045 - 1.1034. In this case, the target is 1.1008. For the potential value for the bottom, we consider the level of 1.0990. Upon reaching this value, we will consider the downward structure of November 4 as a medium-term.

Short-term upward movement is expected in the range 1.1064 - 1.1080. The breakdown of the latter value will lead to an in-depth correction. Here, the target is 1.1108. This level is a key support for the downward structure.

The main trend is the downward structure of November 4.

Trading recommendations:

Buy: 1.1065 Take profit: 1.1080

Buy: 1.1082 Take profit: 1.1106

Sell: 1.1032 Take profit: 1.1010

Sell: 1.1008 Take profit: 1.0990

Exchange Rates 08.11.2019 analysis

For the pound / dollar pair, the key levels on the H1 scale are: 1.2899, 1.2865, 1.2840, 1.2802, 1.2778, 1.2742, 1.2722 and 1.2676. Here, we are following the downward cycle of November 1. Short-term downward movement is expected in the range 1.2802 - 1.2778. The breakdown of the last value should be accompanied by a pronounced downward movement. Here, the target is 1.2742. Price consolidation is in the range of 1.2742 - 1.2722 . For the potential value for the bottom, we consider the level of 1.2676. The movement to this level is expected after the breakdown of the level of 1.2722.

Short-term upward movement is expected in the range of 1.2840 - 1.2865. The breakdown of the latter value will lead to an in-depth correction. Here, the target is 1.2899. This level is a key support for the downward structure.

The main trend is the downward structure of November 1.

Trading recommendations:

Buy: 1.2840 Take profit: 1.2865

Buy: 1.2867 Take profit: 1.2897

Sell: 1.2802 Take profit: 1.2780

Sell: 1.2776 Take profit: 1.2743

Exchange Rates 08.11.2019 analysis

For the dollar / franc pair, the key levels on the H1 scale are: 1.0025, 1.0001, 0.9968, 0.9933, 0.9919, 0.9900 and 0.9890. Here, we are following the medium-term ascending structure of November 1. The continuation of the movement to the top is expected after the breakdown of the level of 0.9940. In this case, the target is 0.9968. Price consolidation is near this level. The breakdown of the level of 0.9968 will lead to a pronounced movement. Here, the target is 1.0001. We consider the level of 1.0025 to be a potential value for the top. Upon reaching this level, we expect a pullback to the bottom.

Short-term downward movement is possibly in the range 0.9933 - 0.9919. The breakdown of the last value will lead to an in-depth correction. Here, the target is 0.9900. The range 0.9900 - 0.9890 is the key support.

The main trend is the medium-term upward structure from November 1.

Trading recommendations:

Buy : 0.9970 Take profit: 1.0000

Buy : 1.0002 Take profit: 1.0025

Sell: 0.9933 Take profit: 0.9920

Sell: 0.9917 Take profit: 0.9900

Exchange Rates 08.11.2019 analysis

For the dollar / yen pair, the key levels on the scale are : 110.12, 109.79, 109.54, 109.17, 109.03, 108.84 and 108.62. Here, we determined the next goals from the local ascending structure on November 7. The continuation of the movement to the top is expected after the breakdown of the level of 109.54. In this case, the target is 109.79. Price consolidation is near this level. For the potential value for the top, we consider the level of 110.12.

Short-term downward movement is expected in the range of 109.17 - 109.03. The breakdown of the last value will lead to an in-depth correction. Here, the target is 108.84. This level is a key support for the local upward structure. Its breakdown will lead to a movement to the first potential target - 108.62.

The main trend: the upward cycle of November 1, the local structure of November 7.

Trading recommendations:

Buy: 109.55 Take profit: 109.77

Buy : 109.80 Take profit: 110.10

Sell: 109.03 Take profit: 108.85

Sell: 108.82 Take profit: 108.62

Exchange Rates 08.11.2019 analysis

For the Canadian dollar / US dollar pair, the key levels on the H1 scale are: 1.3268, 1.3246, 1.3208, 1.3185, 1.3143, 1.3124 and 1.3101. Here, we are following the medium-term upward structure from October 29, as well as the local structure for the top from November 5. Short-term movement to the top is expected in the range of 1.3185 - 1.3208. The breakdown of the latter value will lead to a pronounced movement. Here, the target is 1.3246. For the potential value for the top, we consider the level of 1.3268. Upon reaching this level, we expect a pullback to the bottom.

Short-term downward movement is possibly in the range of 1.3143 - 1.3124. The breakdown of the latter value will lead to an in-depth correction. Here, the target is 1.3101. This level is a key support for the upward structure.

The main trend is the medium-term initial conditions for the upward movement of November 29.

Trading recommendations:

Buy: 1.3185 Take profit: 1.3206

Buy : 1.3209 Take profit: 1.3246

Sell: 1.3143 Take profit: 1.3126

Sell: 1.3122 Take profit: 1.3101

Exchange Rates 08.11.2019 analysis

For the Australian dollar / US dollar pair, the key levels on the H1 scale are : 0.6981, 0.6962, 0.6950, 0.6928, 0.6911, 0.6885, 0.6872, 0.6853, 0.6841 and 0.6825. Here, the price is in equilibrium: the downward structure from November 5, as well as the upward potential from November 7. The development of the ascending structure is expected after the breakdown of the level of 0.6911. Here, the target is 0.6928. Price consolidation is near this level. The breakdown of the level of 0.6928 should be accompanied by a pronounced upward movement. In this case, the target is 0.6950. Price consolidation is in the range of 0.6950 - 0.6962. For the potential value for the top, we consider the level of 0.6981. Upon reaching this value, we expect a pullback to the bottom

Short-term downward movement is possibly in the range of 0.6885 - 0.6872. The breakdown of the latter value will lead to the development of a downward trend. Here, the target is 0.6853. Price consolidation is in the range of 0.6853 - 0.6841. For the potential value for the bottom, we consider the level of 0.6825.

The main trend is the equilibrium situation.

Trading recommendations:

Buy: 0.6911 Take profit: 0.6926

Buy: 0.6930 Take profit: 0.6950

Sell : 0.6885 Take profit : 0.6873

Sell: 0.6870 Take profit: 0.6855

Exchange Rates 08.11.2019 analysis

For the euro / yen pair, the key levels on the H1 scale are: 122.09, 121.85, 121.46, 121.17, 120.60, 120.37, 119.83, 119.55 and 119.38. Here, the price registered the potential for the top of November 7. The development of this structure is expected after the breakdown of the level of 121.17. In this case, the target is 121.46. Price consolidation is near this level. The breakdown of the level of 121.47 will lead to a pronounced movement. Here, the goal is 121.85. For the potential value for the top, we consider the level of 122.09.

Short-term downward movement is expected in the range of 120.60 - 120.37. The breakdown of the latter value will lead to the subsequent development of the downward structure of October 30. Here, the goal is 119.83. For the potential value for the bottom, we consider the level of 119.38, and near which, we expect a consolidated movement.

The main trend is the downward potential of October 30, the potential for the top of November 7.

Trading recommendations:

Buy: 121.17 Take profit: 121.44

Buy: 121.47 Take profit: 121.85

Sell: 120.60 Take profit: 120.40

Sell: 120.35 Take profit: 119.85

Exchange Rates 08.11.2019 analysis

For the pound / yen pair, the key levels on the H1 scale are : 142.82, 141.23, 139.53, 138.70, 137.79 and 137.08. Here, the price is still in the equilibrium. The continuation of movement to the top is expected after the breakdown of the level of 141.23. In this case, the potential target is 142.82. Upon reaching which, we expect consolidation, as well as a pullback to the bottom.

Short-term downward movement, as well as consolidation, are possible in the range of 139.53 - 138.70. The breakdown of the last value will lead to a long correction. Here, the target is 137.79. The range of 137.79 - 137.08 is the key support for the top.

The main trend is the medium-term upward structure from October 8, the formation of potential for the downward movement from October 21.

Trading recommendations:

Buy: Take profit:

Buy: 141.25 Take profit: 142.80

Sell: 139.50 Take profit: 138.75

Sell: 138.65 Take profit: 137.80

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

Performed by Daichi Takahashi,
Analytical expert
InstaForex Companies Group © 2007-2019
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