11.12.201808:10 Forex Analysis & Reviews: Fractal analysis of major currency pairs for December 11

Dear colleagues.

For the Euro / Dollar currency pair, the price is close to the abolition of the ascending structure of December 5, for which a breakdown of 1.1345 is necessary. For the Pound / Dollar currency pair, the downward cycle of December 4 is still considered as the main structure. For the Dollar / Franc currency pair, the continuation of the development of the downward structure of December 5 is expected after the price passes the range of 0.9871 - 0.9856. For the Dollar / Yen currency pair, we are following the formation of the ascending structure of December 10. For the Euro / Yen currency pair, we follow the formation of the upward structure of December 6 and the development of which as a cycle is expected after the breakdown of 129.34. For the Pound / Yen currency pair, we follow the local downward cycle of December 5 and the potential of this structure is at around 140.59, the level of 143.15 is the key support.

Forecast for December 11:

Analytical review of H1-scale currency pairs:

For the Euro / Dollar currency pair, the key levels on the H1 scale are: 1.1512, 1.1487, 1.1434, 1.1406, 1.1370, 1.1348 and 1.1310. Here, the price is close to the abolition of the ascending structure of December 5, for which a breakdown of the level of 1.1345 is necessary. In this case, the first potential target for the downward movement is 1.1310. An upward movement is expected after the breakdown of 1.1406. In this case, the target is 1.1434 and consolidation is near this level. The breakdown of the level of 1.1435 will lead to the development of a pronounced upward movement. In this case, the target is 1.1487. The potential value for the top is considered the level of 1.1512, upon reaching which we expect a rollback downwards.

The main trend is the local rising structure of December 5, the stage of deep correction.

Trading recommendations:

Buy 1.1406 Take profit: 1.1432

Buy 1.1436 Take profit: 1.1485

Sell: 1.1345 Take profit: 1.1315

Sell: Take profit:

For the Pound / Dollar currency pair, the key levels on the H1 scale are: 1.2717, 1.2664, 1.2623, 1.2623, 1.2596, 1.2528, 1.2482 and 1.2417. Here, we are following the development of the downward cycle of December 4th. The short-term downward movement is possible in the range of 1.2528 - 1.2482 and the breakdown of the latter value will lead to a movement to the potential target of 1.2417, upon reaching this level, we expect a rollback to the top.

The short-term uptrend is possible in the range of 1.2596 - 1.2623 and the breakdown of the last value will lead to a prolonged correction. Here, the target is 1.2664 and this level is the key support for the top. Its price passage will have to form the initial conditions for the upward cycle. In this case, the target is 1.2717.

The main trend is the downward structure of December 4.

Trading recommendations:

Buy: 1.2596 Take profit: 1.2623

Buy: 1.2625 Take profit: 1.2662

Sell: 1.2526 Take profit: 1.2484

Sell: 1.2480 Take profit: 1.2420

For the Dollar / Franc currency pair, the key levels on the H1 scale are: 0.9951, 0.9922, 0.9905, 0.9871, 0.9856, 0.9815 and 0.9787. Here, we are following the formation of the downward structure of December 5th. The price passage of the range of 0.9871 - 0.9863 should be accompanied by a pronounced downward movement. Here, the target is 0.9815. The potential value for the bottom is considered to be the level of 0.9787, after reaching which we expect consolidation.

The short-term upward movement is possible in the range of 0.9905 - 0.9922 and the breakdown of the latter value will lead to a prolonged correction. Here, the target is 0.9951 and this level is the key support for the downward movement.

The main trend is the formation of a downward structure of December 5.

Trading recommendations:

Buy: 0.9905 Take profit: 0.9920

Buy: 0.9923 Take profit: 0.9950

Sell: 0.9871 Take profit: 0.9857

Sell: 0.9855 Take profit: 0.9818

For the Dollar / Yen currency pair, the key levels on the scale of H1 are: 114.45, 114.13, 113.72, 113.41, 112.95, 112.76, 112.46, 112.22 and 111.87. Here, we follow the formation of the ascending structure from December 10th. The continuation of the upward movement is expected after the breakdown of 113.41. In this case, the goal is 113.72 and near this level is the price consolidation. The breakdown of the level of 113.72 will lead to the development of a pronounced upward movement. Here, the target is 114.13 and the potential value for the top is 114.45, upon reaching which we expect a consolidated movement, as well as a rollback to the correction.

The short-term downward movement is possible in the range of 112.95 - 112.76 and the breakdown of the last value will lead to a prolonged correction. Here, the goal is 112.46 and this level is the key support for the top. Its breakdown will cancel the upward structure from December 10. In this case, the first goal is 112.22.

The main trend is the formation of the ascending structure of December 10.

Trading recommendations:

Buy: 113.41 Take profit: 113.70

Buy: 113.74 Take profit: 114.10

Sell: 112.95 Take profit: 112.76

Sell: 112.74 Take profit: 112.50

For the Canadian dollar / dollar currency pair, the key levels on the H1 scale are: 1.3557, 1.3521, 1.3465, 1.3429, 1.3370, 1.3344, 1.3311 and 1.3247. Here, the price forms the local potential for the top of December 7th. The short-term upward movement is possible in the range of 1.3429 - 1.3465 and the breakdown of the latter value should be accompanied by a pronounced upward movement. Here, the target is 1.3521. The potential value for the top is considered the level of 1.3557, upon reaching which we expect consolidation, as well as a rollback to the top.

The short-term downward movement is possible in the range of 1.3370 - 1.3344 and the breakdown of the last value will lead to an in-depth correction. Here, the target is 1.3311 and this level is the key support for the top. Its price passage will have to form a downward structure. In this case, the target is 1.3247.

The main trend is the ascending cycle of December 4, the local structure for the top of December 7.

Trading recommendations:

Buy: 1.3430 Take profit: 1.3465

Buy: 1.3467 Take profit: 1.3520

Sell: 1.3370 Take profit: 1.3345

Sell: 1.3343 Take profit: 1.3113

For the Australian dollar / dollar currency pair, the key levels on the H1 scale are: 0.7290, 0.7257, 0.7237, 0.7196, 0.7166, 0.7127 and 0.7100. Here, we are following the development of the downward structure of December 4th. The short-term downward movement is possible in the range of 0.7196 - 0.7166 and the breakdown of the latter value will lead to a pronounced movement. Here, the target is 0.7127. The potential value for the bottom is considered to be the level of 0.7100, upon reaching which we expect consolidation, as well as a rollback to the top.

The short-term uptrend is possible in the range of 0.7237 - 0.7257 and the breakdown of the latter value will lead to a deep correction. Here, the target is 0.7290 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: 0.7237 Take profit: 0.7255

Buy: 0.7258 Take profit: 0.7290

Sell: 0.7196 Take profit: 0.7166

Sell: 0.7164 Take profit: 0.7130

For the Euro / Yen currency pair, the key levels on the H1 scale are: 130.13, 129.82, 129.34, 128.95, 128.36, 128.09, 127.68 and 127.43. Here, we follow the formation of the ascending structure of December 6. The short-term upward movement is expected in the range of 128.95 - 129.34 and the breakdown of the latter value will lead to the development of a pronounced movement. In this case, the goal is 129.82. The potential value for the top is considered the level of 130.13, upon reaching which we expect consolidation, as well as a rollback to the top.

The short-term downward movement is possible in the range of 128.36 - 128.09, hence a high probability of a reversal upwards. The breakdown of the level of 128.09 will have to form a local structure for the downward movement. In this case, the goal is 127.68 and the range of 127.68 - 127.43.

The main trend is the formation of the ascending structure of December 6.

Trading recommendations:

Buy: 128.95 Take profit: 129.30

Buy: 129.37 Take profit: 129.80

Sell: 128.34 Take profit: 128.12

Sell: 128.05 Take profit: 127.70

For the Pound / Yen currency pair, the key levels on the H1 scale are: 143.16, 142.74, 142.43, 141.87, 141.46, 141.15 and 140.59. Here, we are following the downward cycle from December 5th. The downward movement is expected after the breakdown of 141.87. In this case, the target is 141.46 and in the range of 141.46 - 141.15 is the consolidation. The breakdown of the level of 141.15 will allow us to expect to move to a potential value. Here, the goal is 140.59, from this level, we expect a rollback to the top.

The short-term uptrend is possible in the range of 142.43 - 142.74 and the breakdown of the last value to the prolonged correction. Here, the target is 143.16 and this level is the key support for the downward structure. Its price passage will have to form the initial conditions for the upward cycle.

The main trend is the local structure for the bottom of December 5th.

Trading recommendations:

Buy: 142.43 Take profit: 142.72

Buy: 142.77 Take profit: 143.14

Sell: 141.83 Take profit: 141.46

Sell: 141.15 Take profit: 140.65