10.10.201903:03 Forex Analysis & Reviews: Fractal analysis of the main currency pairs on October 10

Forecast for October 10:

Analytical review of currency pairs on the scale of H1:

For the euro / dollar pair, the key levels on the H1 scale are: 1.1082, 1.1039, 1.1021, 1.1004, 1.0966, 1.0949 and 1.0925. Here, the price formed a small local structure for the top of October 8. The continuation of the movement to the bottom is expected after the breakdown of 1.1004. In this case, the target is 1.1021. The breakdown of which will allow us to count on the movement of 1.1039. Price consolidation is near this level. For the potential value for the top, we consider the level of 1.1082. The expressed movement to which is expected after the breakdown of the level of 1.1040.

Short-term downward movement is possibly in the range 1.0966 - 1.0949. The breakdown of the last value will lead to a long correction. Here, the target is 1.0925. This level is a key support for the top.

The main trend is the medium-term upward structure from October 1, the local structure from October 8.

Trading recommendations:

Buy: 1.1005 Take profit: 1.1020

Buy 1.1022 Take profit: 1.1037

Sell: 1.0965 Take profit: 1.0950

Sell: 1.0947 Take profit: 1.0925

For the pound / dollar pair, the key levels on the H1 scale are: 1.2308, 1.2268, 1.2243, 1.2191, 1.2171, 1.2131 and 1.2081. Here, we follow the development of the downward cycle of October 3. The continuation of the movement to the bottom is expected after the price passes the noise range 1.2191 - 1.2171. In this case, the target is 1.2131. Price consolidation is near this level. For the potential value for the bottom, we consider the level of 1.2081. Upon reaching which, we expect a pullback to the top.

Short-term upward movement is expected in the range 1.2243 - 1.2268. The breakdown of the latter value will lead to an in-depth correction. Here, the target is 1.2308. This level is the key downward structure.

The main trend is the downward cycle of October 3.

Trading recommendations:

Buy: 1.2243 Take profit: 1.2267

Buy: 1.2270 Take profit: 1.2308

Sell: 1.2170 Take profit: 1.2135

Sell: 1.2128 Take profit: 1.2081

For the dollar / franc pair, the key levels on the H1 scale are: 1.0027, 0.9999, 0.9974, 0.9957, 0.9921, 0.9892, 0.9872 and 0.9845. Here, we follow the development of the descending structure of October 3. The continuation of the development of the downward trend is expected after the breakdown of the level of 0.9921. In this case, the target is 0.9892. Price consolidation is in the range of 0.9892 - 0.9872. For the potential value for the bottom, we consider the level of 0.9845, upon reaching which, we expect a pullback to the top.

Short-term upward movement is possibly in the range of 0.9957 - 0.9974. The breakdown of the last value will lead to an in-depth correction. Here, the target is 0.9999. This level is a key support for the downward structure. Its breakdown will lead to the development of the upward movement. Here, the potential target is 1.0027.

The main trend is the descending structure of October 3.

Trading recommendations:

Buy : 0.9976 Take profit: 0.9999

Buy : 1.0003 Take profit: 1.0027

Sell: 0.9920 Take profit: 0.9892

Sell: 0.9870 Take profit: 0.9845

For the dollar / yen pair, the key levels on the scale are : 108.39, 108.14, 107.80, 107.51, 107.10, 106.90, 106.54 and 106.27. Here, the price forms the potential for the top of October 4. The continuation of the movement to the top is expected after the breakdown of the level of 107.51. In this case, the target is 107.80. Price consolidation is near this level. The breakdown of the level of 107.80 will lead to a pronounced movement. Here, the goal is 108.14. For the potential value for the top, we consider the level of 108.39. Upon reaching which, we expect consolidation, as well as a pullback to the bottom.

Short-term downward movement is expected in the range of 107.10 - 106.90. The breakdown of the last value will have the downward structure. In this case, the first target is 106.54. We consider the level 106.27 as a potential value for the bottom.

The main trend: the formation of the upward potential of October 4.

Trading recommendations:

Buy: 107.51 Take profit: 107.80

Buy : 107.82 Take profit: 108.12

Sell: 107.10 Take profit: 106.92

Sell: 106.88 Take profit: 106.60

For the Canadian dollar / US dollar pair, the key levels on the H1 scale are: 1.3369, 1.3350, 1.3336, 1.3304, 1.3287 and 1.3254. Here, the price forms the medium-term initial conditions for the top of October 2. Short-term upward movement is possibly in the range 1.3336 - 1.3350. From here, we expect a key reversal in the correction. For the potential value for the top, we consider the level of 1.3369.

Short-term downward movement is possibly in the range of 1.3304 - 1.3287. The breakdown of the latter value will lead to an in-depth correction. Here, the target is 1.3254. This level is a key support for the top.

The main trend is the formation of medium-term initial conditions of October 2.

Trading recommendations:

Buy: 1.3336 Take profit: 1.3350

Buy : 1.3352 Take profit: 1.3369

Sell: 1.3304 Take profit: 1.3390

Sell: 1.3285 Take profit: 1.3260

For the Australian dollar / US dollar pair, the key levels on the H1 scale are : 0.6868, 0.6838, 0.6815, 0.6782, 0.6772, 0.6756, 0.6730 and 0.6710. Here, the price is close to the cancellation of the upward structure from October 2, which requires a breakdown of the level of 0.6710. In this case, the potential target is 0.6668. The continuation of movement to the top is expected after the breakdown of the level of 0.6756. Here, the first target is 0.6772. The price passes the noise range 0.6772 - 0.6782 will lead to the development of a pronounced movement to the top. In this case, the target is 0.6815. Short-term upward movement, and also consolidation is in the range of 0.6815 - 0.6838. For the potential value for the top, we consider the level of 0.6868. The movement to which is expected after the breakdown of the level of 0.6840.

Consolidated movement is possibly in the range of 0.6746 - 0.6730. The breakdown of the last value will lead to a long correction. Here, the potential target is 0.6710. This level is a key support for the ascending structure.

The main trend is the ascending structure of October 2, the stage of deep correction.

Trading recommendations:

Buy: 0.6756 Take profit: 0.6772

Buy: 0.6782 Take profit: 0.6815

Sell: 0.6705 Take profit: 0.6670

For the euro / yen pair, the key levels on the H1 scale are: 118.75, 118.54, 118.21, 117.94, 117.58, 117.38, 117.25 and 117.06. Here, we are following the formation of the ascending structure of October 4. The continuation of the development of the ascending structure is expected after the breakdown of the level of 117.95. In this case, the goal is 118.21. Price consolidation is near this level. The breakdown at the price level of 118.21 will lead to the development of pronounced movement. Here, the goal is 118.54. For the potential value for the top, we consider the level of 118.75. Upon reaching which, we expect consolidation, as well as a pullback to the bottom.

A correction is expected after the breakdown of the level of 117.58. Here, the target is 117.38. The range of 117.38 - 117.25 is a key support for the top. Its passage at the price will lead to the development of a downward structure. Here, the goal is 117.06.

The main trend is the upward structure of October 4.

Trading recommendations:

Buy: 117.95 Take profit: 118.20

Buy: 118.23 Take profit: 118.54

Sell: 117.56 Take profit: 117.40

Sell: 117.25 Take profit: 117.07

For the pound / yen pair, the key levels on the H1 scale are : 132.51, 131.89, 131.45, 130.62, 130.02, 129.47 and 128.37. Here, the main structure is the downward cycle of September 20. The continuation of the movement to the bottom is expected after the breakdown of the level of 130.62. In this case, the target is 130.02. Short-term downward movement as well as consolidation is in the range of 130.02 - 129.47. For the potential value for the bottom, we consider the level of 128.37. The movement to which is expected after the breakdown of the level of 129.40.

Short-term upward movement is possibly in the range of 131.45 - 131.89. The breakdown of the last value will lead to a long correction. Here, the target is 132.51. We also expect the formation of expressed initial conditions for the upward cycle to this level.

The main trend is the descending structure of September 20.

Trading recommendations:

Buy: 131.45 Take profit: 131.85

Buy: 131.92 Take profit: 132.50

Sell: 130.60 Take profit: 130.04

Sell: 130.00 Take profit: 129.50