07.11.201903:03 Forex Analysis & Reviews: Fractal analysis of the main currency pairs for November 7

Forecast for November 7:

Analytical review of currency pairs on the scale of H1:

For the euro / dollar pair, the key levels on the H1 scale are: 1.1108, 1.1091, 1.1080, 1.1061, 1.1045, 1.1034 and 1.1008. Here, we are following the development of the downward cycle of November 4. The continuation of movement to the bottom is expected after the breakdown of the level of 1.1061. In this case, the target is 1.1045. Price consolidation is in the range of 1.1045 - 1.1034. For the potential value for the bottom, we consider the level of 1.1008. Upon reaching which, we expect a pullback to the top.

Short-term upward movement is expected in the range of 1.1080 - 1.1091. The breakdown of the latter value will lead to an in-depth correction. Here, the goal 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: 1.1080 Take profit: 1.1090

Buy: 1.1092 Take profit: 1.1106

Sell: 1.1060 Take profit: 1.1045

Sell: 1.1032 Take profit: 1.1010

For the pound / dollar pair, the key levels on the H1 scale are: 1.2924, 1.2899, 1.2876, 1.2837, 1.2802, 1.2778, 1.2742 and 1.2722. Here, after the cancellation of the ascending structure, we are following the downward initial conditions of November 1. The continuation of the movement to the bottom is expected after the breakdown of the level of 1.2837. In this case, the target is 1.2802. Short-term downward movement, as well as consolidation is in the range of 1.2802 - 1.2778 . The breakdown of the level of 1.2778 should be accompanied by a pronounced downward movement. Here, the target is 1.2742. For the potential value for the bottom, we consider the level of 1.2722, upon reaching which, we expect a pullback to the top.

Short-term upward movement is expected in the range of 1.2876 - 1.2899. The breakdown of the latter value will lead to an in-depth correction. Here, the target is 1.2924. This level is a key support for the downward structure.

The main trend is the downward structure of November 1.

Trading recommendations:

Buy: 1.2876 Take profit: 1.2897

Buy: 1.2900 Take profit: 1.2922

Sell: 1.2835 Take profit: 1.2802

Sell: 1.2800 Take profit: 1.2780

For the dollar / franc pair, the key levels on the H1 scale are: 1.0025, 1.0001, 0.9968, 0.9939, 0.9912, 0.9900 and 0.9879. Here, we are following the formation of a medium-term ascendant structure from 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 of 0.9912 - 0.9900. The breakdown of the last value will lead to an in-depth correction. Here, the target is 0.9879. This level is a key support for the upward structure.

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

Trading recommendations:

Buy : 0.9940 Take profit: 0.9966

Buy : 0.9970 Take profit: 1.0000

Sell: 0.9912 Take profit: 0.9900

Sell: 0.9898 Take profit: 0.9880

For the dollar / yen pair, the key levels on the scale are : 109.86, 109.66, 109.41, 109.24, 109.03, 108.89 and 108.67. Here, we continue to monitor the development of the upward cycle of November 1. Short-term upward movement is expected in the range of 109.24 - 109.41. The breakdown of the last value will lead to a pronounced movement. Here, the target is 109.66. For the potential value for the top, we consider the level of 109.86. Upon reaching this level, we expect consolidation, as well as a pullback to the bottom.

Short-term downward movement is expected in the range of 109.03 - 108.89. The breakdown of the last value will lead to an in-depth correction. Here, the target is 108.67. This level is a key support for the upward structure.

The main trend: the upward cycle of November 1.

Trading recommendations:

Buy: 109.25 Take profit: 109.40

Buy : 109.42 Take profit: 109.65

Sell: Take profit:

Sell: 108.87 Take profit: 108.67

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

For the Australian dollar / US dollar pair, the key levels on the H1 scale are : 0.6928, 0.6911, 0.6898, 0.6888, 0.6869, 0.6853, 0.6841 and 0.6825. Here, the price has formed the potential for the development of the downward movement of November 5. The continuation of the movement to the bottom is expected after the breakdown of the level of 0.6869. In this case, the target is 0.6853. Short-term downward movement, as well as consolidation is in the range of 0.6853 - 0.6841. For the potential value for the bottom, we consider the level of 0.6825. Upon reaching this level, we expect a pullback to the top.

Short-term upward movement is possibly in the range of 0.6888 - 0.6898. The breakdown of the latter value will lead to an in-depth correction. Here, the target is 0.6911. This level is a key support for the downward structure from November 5. Its passage at a price will allow you to expect movement to the level of 0.6928.

The main trend is the downward potential of November 5.

Trading recommendations:

Buy: 0.6888 Take profit: 0.6897

Buy: 0.6900 Take profit: 0.6910

Sell : 0.6867 Take profit : 0.6854

Sell: 0.6851 Take profit: 0.6843

For the euro / yen pair, the key levels on the H1 scale are: 121.46, 121.17, 121.00, 120.74, 120.22, 119.83, 119.55 and 119.38. Here, we are following the downside potential of October 30. The continuation of movement to the bottom is expected after the breakdown of the level of 120.22. In this case, the first goal is 119.83. Before this value, we expect expressed initial conditions for the downward cycle. The breakdown of the level of 119.80 will lead to the development of the cycle. In this case, the goal is 119.55. Price consolidation is in the range of 119.55 - 119.38.

Short-term upward movement is expected in the range of 120.74 - 121.00. The range of 121.00 - 121.17 is a key support for the descending structure of October 30. Its passage at a price will lead to the development of an upward trend. Here, the goal is 121.46.

The main trend is the downward potential of October 30.

Trading recommendations:

Buy: 120.74 Take profit: 121.00

Buy: 121.18 Take profit: 121.44

Sell: 120.20 Take profit: 119.85

Sell: 119.80 Take profit: 119.55

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 of October 8, the formation of potential for the downward movement of 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