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19.10.201817:11 Forex Analysis & Reviews: Fractal analysis of major currency pairs on October 19

Long-term review
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Dear colleagues.

For the Euro / Dollar currency pair, we are following the downward structure of October 16 and we expect to continue downwards after the breakdown of 1.1425. For the currency pair Pound / Dollar, we are following the descending structure from October 12 and we expect the continuation of the downward movement after the breakdown of 1.3004. For the currency pair Dollar / Franc, the price forms an upward structure of October 15 and the development of which is expected after the breakdown of 0.9975. For the currency pair Dollar / Yen, the price is in correction and forms a potential for the upside, the uptrend development is expected after the breakdown of 112.72. For the currency pair Euro / Yen, we are following the development of a local downward structure of October 17. After the abolition of the ascending structure, the Pound / Yen currency pair is following the downward cycle of October 16.

Forecast for October 19:

Analytical review of H1-scale currency pairs:

Exchange Rates 19.10.2018 analysis

For the Euro / Dollar currency pair, the key levels on the H1 scale are: 1.1528, 1.1503, 1.1484, 1.1448, 1.1425, 1.1392 and 1.1370. Here, we are following the downward structure of October 16. The short-term downward movement is possible in the range of 1.1448 - 1.1425 and the breakdown of the latter value will lead to the development of a pronounced movement. Here, the target is 1.1392. The potential value for the bottom is considered the level of 1.1370, after reaching which we expect consolidation, as well as a rollback to the correction.

The short-term upward movement is possible in the range of 1.1484 - 1.1503 and the breakdown of the latter will lead to the development of a protracted correction. Here, the target is 1.1528.

The main trend is the downward structure of October 16.

Trading recommendations:

Buy 1.1484 Take profit: 1.1502

Buy 1.1505 Take profit: 1.1525

Sell: 1.1444 Take profit: 1.1425

Sell: 1.1422 Take profit: 1.1394

Exchange Rates 19.10.2018 analysis

For the Pound / Dollar currency pair, the key levels on the H1 scale are: 1.3120, 1.3071, 1.3043, 1.3004, 1.2945, 1.2896 and 1.2830. Here, we are following the development of the downward structure of October 12. We expect the downward movement to continue after the breakdown of 1.3004. In this case, the target is 1.2945 and the breakdown of which will allow us to expect movement to the level of 1.2896, consolidation is near this value. A potential value for the bottom is considered the level of 1.2830, after reaching which we expect a departure to a correction.

The short-term upward movement is possible in the range of 1.3043 - 1.3071 and the breakdown of the latter value will lead to a prolonged correction. Here, the target is 1.3120 and this level is the key support for the downward structure.

The main trend is the downward cycle of October 12.

Trading recommendations:

Buy: 1.3043 Take profit: 1.3070

Buy: 1.3074 Take profit: 1.3120

Sell: 1.3002 Take profit: 1.2947

Sell: 1.2943 Take profit: 1.2898

Exchange Rates 19.10.2018 analysis

For the Dollar / Franc currency pair, the key levels on the H1 scale are: 1.0030, 1.0007, 0.9975, 0.9960, 0.9934, 0.9918 and 0.9893. Here, we are following the development of the ascending structure of October 15. The passage of the price range will begin the development of an upward trend. In this case, the goal is 1.0007. The potential value for the top is considered the level of 1.0030, after reaching which we expect consolidation, as well as a rollback to the correction.

The short-term downward movement is possible in the range of 0.9934 - 0.9918 and the breakdown of the latter value will lead to a prolonged correction. Here, the target is 0.9893 and this level is the key support for the top.

The main trend is the ascending structure of October 15.

Trading recommendations:

Buy: 0.9977 Take profit: 1.0005

Buy: 1.0009 Take profit: 1.0030

Sell: 0.9934 Take profit: 0.9920

Sell: 0.9916 Take profit: 0.9895

Exchange Rates 19.10.2018 analysis

For the Dollar / Yen currency pair, the key levels on the scale of H1 are: 113.31, 112.72, 112.38, 111.77, 111.48, 111.02 and 110.38. Here, we are following the downward cycle of October 3. At the moment, the price is in correction and forms the potential for the top of October 15. The short-term downward movement is expected in the range of 111.77 - 111.48. The breakdown of the level of 111.48 will lead to the movement to 111.02, near this level is the consolidation of the price. The potential value for the bottom is considered the level of 110.38, upon reaching which we expect a rollback to the top.

The consolidated movement is possible in the range of 112.38 - 112.72 and the breakdown of the latter value will lead to a prolonged correction. Here, the goal is 113.31 and this level is the key support for the downward structure.

The main trend is the downward cycle of October 3, the stage of correction.

Trading recommendations:

Buy: 112.38 Take profit: 112.70

Buy: 112.75 Take profit: 113.30

Sell: 111.75 Take profit: 111.50

Sell: 111.46 Take profit: 111.04

Exchange Rates 19.10.2018 analysis

For the Canadian dollar / Dollar currency pair, the key levels on the H1 scale are: 1.3188, 1.3149, 1.3131, 1.3099, 1.3060, 1.3038, 1.3008, 1.2991 and 1.2959. Here, we are following the development of the ascending structure of October 16. The upward movement is expected after the breakdown of 1.3099. In this case, target is 1.3131 and in the range of 1.3131 - 1.3149 is the consolidation. The potential value for the top is considered the level of 1.3188, after reaching which we expect a departure to a correction.

The short-term downward movement is possible in the range of 1.3060 - 1.3038 and the breakdown of the latter value will lead to a prolonged correction. Here, the target is 1.3008 and the range of 1.3008-1.2991 is the key support for the upward structure of October 16. Its price passage will have to develop the downward movement. Here, the target is 1.2959.

The main trend is the ascending structure of October 16.

Trading recommendations:

Buy: 1.3100 Take profit: 1.3130

Buy: 1.3150 Take profit: 1.3186

Sell: 1.3060 Take profit: 1.3040

Sell: 1.3036 Take profit: 1.3010

Exchange Rates 19.10.2018 analysis

For the currency pair Australian dollar / Dollar, the key levels on the H1 scale are: 0.7211, 0.7188, 0.7156, 0.7130, 0.7092, 0.7073. Here, the price entered the equilibrium state. The short-term upward movement, as well as consolidation is expected in the range of 0.7130 - 0.7156. The breakdown of the level of 0.7158 should be accompanied by a pronounced upward movement. Here, the target is 0.7188. The potential value for the top is considered to be the level of 0.7211, upon reaching which we expect consolidation.

The price at 0.7092 - 0.7073 will lead to the development of the downward movement. Here, the goal is 0.7040, up to this level we expect registration of the expressed initial conditions for the downward cycle.

The main trend is the equilibrium situation.

Trading recommendations:

Buy: 0.7130 Take profit: 0.7152

Buy: 0.7158 Take profit: 0.7185

Sell: 0.7190 Take profit: 0.7073

Sell: 0.7070 Take profit: 0.7042

Exchange Rates 19.10.2018 analysis

For the Euro / Yen currency pair, the key levels on the H1 scale are: 129.42, 129.05, 128.79, 128.35, 128.11, 127.74, 127.54 and 127.07. Here, we are following a small local downward cycle of October 17th. The downward movement is expected after the price passes the range of 128.35 - 128.11. In this case, the goal is 127.74 and in the range of 127.74 - 127.54 is the price consolidation. The potential value for the downward movement is considered the level of 127.07 and the movement to which is expected after the breakdown of 127.50.

The short-term upward movement is possible in the range of 128.79 - 129.05 and the breakdown of the last value will lead to a prolonged correction. Here, the goal is 129.42 and this level is the key support for the downward structure.

The main trend is the local downward cycle of October 17.

Trading recommendations:

Buy: 128.80 Take profit: 129.00

Buy: 129.07 Take profit: 129.40

Sell: 128.10 Take profit: 127.80

Sell: 127.52 Take profit: 127.10

Exchange Rates 19.10.2018 analysis

For the Pound / Yen currency pair, the key levels on the H1 scale are: 147.42, 146.92, 146.51, 145.68, 145.20, 144.91 and 144.34. Here, after the abolition of the ascending structure, we are following the downward movement of October 16. The downward movement is expected after the breakdown of 145.68. In this case, the target is 145.20, and in the range of 145.20 - 144.91 is the consolidation. The potential value for the bottom is considered the level of 144.34, after reaching which we expect a rollback to the top.

The short-term upward movement is possible in the range of 146.51 - 146.92 and the breakdown of the latter value will lead to a prolonged correction. Here, the target is 147.42 and this level is the key support for the downward structure of October 16.

The main trend is the downward structure of October 16.

Trading recommendations:

Buy: 146.51 Take profit: 146.90

Buy: 146.95 Take profit: 147.40

Sell: 145.65 Take profit: 145.20

Sell: 144.90 Take profit: 144.40

Daichi Takahashi
Analytical expert of InstaForex
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