06.12.201808:10 Forex Analysis & Reviews: Fractal analysis of major currency pairs for December 6

Dear colleagues.

For the Euro / Dollar currency pair, the upward trend continuation is expected after the breakdown of 1.1392 and the level of 1.1297 is the key support for the top. For the Pound / Dollar currency pair, we are following the downward cycle of November 22 and we expect the continuation of the downward movement after the breakdown of 1.2658. For the currency pair Dollar / Franc, we may continue to move up after a breakdown of 0.9982 and the level of 0.9945 is the key support. For the currency pair Dollar / Yen, we are following the development of the downward cycle of November 28. For the Euro / Yen currency pair, we are following the development of the downward cycle of November 29 and we expect a further downward movement after the breakdown of 127.68. For the currency pair Pound / Yen, the price has formed the potential for the top of December 4 in the correction of the downward structure.

Forecast for December 6:

Analytical review of H1-scale currency pairs:

For the Euro / Dollar currency pair, the key levels on the H1 scale are: 1.1477, 1.1429, 1.1414, 1.1392, 1.1364, 1.1297, 1.1266, 1.1233 and 1.1206. Here, we continue to monitor the ascending structure of November 28. An upward movement is expected after the breakdown of 1.1364. Here, the first target is 1.1392 and the breakdown of which will continue the development of the upward structure of November 28. In this case, the target is 1.1414 and consolidation is near this level. The passage of the price range of 1.1414 - 1.1429, will lead to a movement to the potential target of 1.1477, upon reaching which we expect a rollback downwards.

The breakdown of the level 1.1297 will have the formation of a downward structure. In this case, the first goal is 1.1266 and the breakdown of which, in turn, must be accompanied by a pronounced move to the level of 1.1233. The potential value for the bottom is considered the level of 1.1206, upon reaching which we expect a rollback to the top.

The main trend is the ascending structure of November 28.

Trading recommendations:

Buy 1.1364 Take profit: 1.1390

Buy 1.1392 Take profit: 1.1414

Sell: 1.1295 Take profit: 1.1268

Sell: 1.1264 Take profit: 1.1235

For the Pound / Dollar currency pair, the key levels on the H1 scale are: 1.2827, 1.2786, 1.2747, 1.2691, 1.2658, 1.2613 and 1.2583. Here, we are following the downward structure of November 22. The short-term downward movement is possible in the range of 1.2691 - 1.2658 and the breakdown of the latter value will lead to a pronounced movement. Here, the target is 1.2613. The potential value for the bottom is considered the level of 1.2583, upon reaching which we expect consolidation, as well as a rollback to the top.

The short-term upward movement is possible in the range of 1.2747 - 1.2786 and the breakdown of the latter value will lead to an in-depth movement. Here, the goal is 1.2827 and this level is the key support for the downward structure.

The main trend is the local downward cycle of November 22.

Trading recommendations:

Buy: 1.2747 Take profit: 1.2784

Buy: 1.2788 Take profit: 1.2825

Sell: 1.2690 Take profit: 1.2659

Sell: 1.2655 Take profit: 1.2614

For the Dollar / Franc currency pair, the key levels on the H1 scale are: 1.0058, 1.0037, 1.0022, 0.9998, 0.9964, 0.9945 and 0.9915. Here, we are following the formation of the ascending structure from November 29th. An upward movement is expected after the breakdown of 0.9998. In this case, the goal is 1.0022 and in the range of 1.0022 - 1.0037 is the price consolidation. The potential value for the top is considered the level of 1.0058, upon reaching which we expect a rollback downwards.

The short-term downward movement is possible in the range of 0.9964 - 0.9945 and the breakdown of the latter value will lead to the cancellation of the ascending structure of November 29. In this case, the first potential target is 0.9915.

The main trend is the formation of the ascending structure of November 29.

Trading recommendations:

Buy: 0.9998 Take profit: 1.0020

Buy: 1.0037 Take profit: 1.0056

Sell: 0.9964 Take profit: 0.9947

Sell: 0.9943 Take profit: 0.9915

For the Dollar / Yen currency pair, the key levels on the scale of H1 are: 113.41, 113.15, 112.95, 112.57, 112.35, 112.04 and 111.87. Here, we are following the development of the downward cycle of November 28. The short-term downward movement is possible in the range of 112.57 - 112.35 and the breakdown of the latter value will lead to a pronounced movement. Here, the target is 112.04. The potential value for the bottom is considered the level of 111.87, after reaching which we expect a rollback to the top.

The short-term upward movement is possible in the range of 112.95 - 113.15 and the breakdown of the latter value will lead to a prolonged correction. Here, the target is 113.41.

The main trend is the downward cycle of November 28.

Trading recommendations:

Buy: 112.95 Take profit: 113.15

Buy: 113.17 Take profit: 113.40

Sell: 112.55 Take profit: 113.35

Sell: 112.33 Take profit: 112.05

For the Canadian dollar / dollar currency pair, the key levels on the H1 scale are: 1.3506, 1.3478, 1.3429, 1.3393, 1.3343, 1.3321, 1.3285 and 1.3247. Here, we follow the development of the ascending structure from December 4th. The short-term upward movement is expected in the range of 1.3393 - 1.3429 and the breakdown of the last value should be accompanied by a pronounced upward movement. Here, the target is 1.3478. We consider the level of 1.3506 to be a potential value for the top, after reaching which we expect consolidation in the range of 1.3478 - 1.3506, as well as a rollback to the top.

The short-term downward movement is possible in the range of 1.3343 - 1.3321 and the breakdown of the last value will lead to a prolonged correction. Here, the target is 1.3285 and this level is the key support for the top. The breakdown will have to form the initial conditions for the downward cycle. In this case, the target is 1.3247.

The main trend is the upward cycle of December 4.

Trading recommendations:

Buy: 1.3393 Take profit: 1.3427

Buy: 1.3432 Take profit: 1.3476

Sell: 1.3320 Take profit: 1.3287

Sell: 1.3283 Take profit: 1.3250

For the Australian dollar / dollar currency pair, the key levels on the H1 scale are: 0.7337, 0.7309, 0.7281, 0.7237, 0.7196, 0.7166 and 0.7127. Here, we are following the formation of the downward structure from December 4th. The downward movement is expected after the breakdown of 0.7237. In this case, the target is 0.7196 and in the range of 0.7196 - 0.7166 is the short-term downward movements, as well as consolidation. The potential value for the bottom is considered the level of 0.7127, after reaching which we expect a rollback to the top.

The short-term uptrend is possible in the range of 0.7281 - 0.7309 and the breakdown of the latter value will lead to an in-depth correction. Here, the target is 0.7337 and this level is the key support for the downward structure of December 4.

The main trend is the downward structure of December 4.

Trading recommendations:

Buy: 0.7281 Take profit: 0.7306

Buy: 0.7311 Take profit: 0.7335

Sell: 0.7235 Take profit: 0.7198

Sell: 0.7164 Take profit: 0.7130

For the Euro / Yen currency pair, the key levels on the H1 scale are: 128.70, 128.36, 128.15, 127.68, 127.43, 127.08 and 126.88. Here, we continue to follow the development of the downward structure of November 29. The short-term downward movement is expected in the range of 127.68 - 127.43 and the breakdown of the latter value should be accompanied by a pronounced downward movement. Here, the goal is 127.08. The potential value for the bottom is considered the level of 126.88, after reaching which we expect consolidation, as well as a rollback to the top.

The short-term upward movement is possible in the range of 128.15 - 128.36 and the breakdown of the last value will lead to a prolonged correction. Here, the goal is 128.70 and this level is the key support for the bottom.

The main trend is the downward cycle of November 29.

Trading recommendations:

Buy: 128.15 Take profit: 128.34

Buy: 128.38 Take profit: 128.70

Sell: 127.66 Take profit: 127.47

Sell: 127.40 Take profit: 127.10

For the Pound / Yen currency pair, the key levels on the H1 scale are: 145.15, 144.60, 144.10, 143.46, 143.15, 142.80, 142.55 and 141.98. Here, the price has shaped the potential for upward movement in the correction zone from the downward structure on November 28. An upward movement is expected after the breakdown of 144.10. In this case, the first target is 144.60. The breakdown of which will lead to a movement to the level of 145.15, consolidation is near this level. The potential value for the top is considered the level of 145.85.

The range of 143.46 - 143.15 is the key support for the top. Its price passage will continue the development of the downward trend. Here, the target is 142.80 and in the range of 142.80 - 142.55 is the price consolidation. The potential value for the bottom is considered the level of 141.98, after reaching which we expect a rollback to the top.

The main trend is the downward cycle of November 28, the stage of correction.

Trading recommendations:

Buy: 144.10 Take profit: 144.60

Buy: 144.64 Take profit: 145.10

Sell: 143.46 Take profit: 143.15

Sell: 143.12 Take profit: 142.80