05.12.201915:16 Forex Analysis & Reviews: Fractal analysis for major currency pairs as of December 5

Hello, dear colleagues.

For the Euro/Dollar pair, the development of the upward trend of November 29 is expected after the breakdown of 1.1114. For the Pound/Dollar pair, the continued development of the upward cycle of November 27 is expected after the breakdown of 1.3150. For the Dollar/Franc pair, the development of the upward structure of November 29 is expected after the breakdown of 0.9862. For the Dollar/Yen pair, we follow the formation of a downward structure from December 2; the level of 108.58 is the key resistance and the level of 109.31 is the key support. For the Euro/Yen pair, the price formed a local upward structure for the subsequent development of the upward trend and the level of 120.98 is the key resistance. For the Pound/Yen pair, the next targets for the top are determined from the local structure on December 4 and the level of 143.45 is the key resistance.

Forecast for December 4:

Analytical review of currency pairs on the H1 scale:

For the Euro/Dollar pair, the key levels on the H1 scale are 1.1170, 1.1130, 1.1114, 1.1096, 1.1065, 1.1048, and 1.1024. We continue to follow the formation of the expressed initial conditions for the top of November 29. We expect the upward movement to continue after the breakdown of 1.1096. In this case, the target is 1.1114 and in the area of 1.1114-1.1130 is the price consolidation. The breakdown of the level of 1.1130 will lead to the development of a pronounced movement. The potential target is 1.1170.

The short-term downward movement is expected in the range of 1.1065-1.1048 and the breakdown of the last value will lead to an in-depth correction. The target is 1.1024 and this level is the key support for the upward structure.

The main trend is the formation of initial conditions for the top of November 29.

Trading recommendations:

Buy: 1.1096 Take profit: 1.1146

Buy: 1.1132 Take profit: 1.1170

Sell: 1.1065 Take profit: 1.1050

Sell: 1.1046 Take profit: 1.1026

For the Pound/Dollar pair, the key levels on the H1 scale are 1.3249, 1.3205, 1.3150, 1.3102, 1.3075, and 1.3025. We follow the development of the upward cycle of November 27. We expect the upward movement to continue after the breakout of 1.3150. In this case, the target is 1.3205 and consolidation is near this level. We consider the level of 1.3249 as a potential value for the top, upon reaching this level, we expect consolidation, as well as a pullback downwards.

The short-term downward movement is possible in the area of 1.3102-1.3075 and the breakdown of the last value will lead to a deep correction. The target is 1.3025 and this level is the key support for the top.

The main trend is the upward cycle from November 27.

Trading recommendations:

Buy: 1.3150 Take profit: 1.3205

Buy: 1.3207 Take profit: 1.3247

Sell: 1.3102 Take profit: 1.3076

Sell: 1.3073 Take profit: 1.3027

For the Dollar/Franc pair, the key levels on the H1 scale are 0.9965, 0.9935, 0.9908, 0.9864, 0.9820, 0.9789, and 0.9745. We follow the development of the downward structure of November 29. We expect the downward movement to continue after the breakout of 0.9864. In this case, the target is 0.9820 and in the area of 0.9820-0.9789 is the short-term downward movement, as well as consolidation. The breakout of the level of 0.9789 should be accompanied by a pronounced upward movement. In this case, the potential target is 0.9745 and from this level, we expect a pullback to the correction.

The short-term upward movement is possible in the area of 0.9908-0.9935 and the breakdown of the last value will lead to an in-depth movement. The target is 0.9965 and this level is the key support for the downward structure from November 29.

The main trend is the formation of initial conditions for the bottom of November 29.

Trading recommendations:

Buy: 0.9908 Take profit: 0.9933

Buy: 0.9937 Take profit: 0.9965

Sell: 0.9862 Take profit: 0.9825

Sell: 0.9820 Take profit: 0.9790

For the Dollar/Yen pair, the key levels in the H1 scale are 109.31, 109.06, 108.85, 108.58, 108.31, 108.10, 107.80, and 107.62. We follow the formation of the downward structure of December 2. We expect the downward movement to continue after the breakdown of 108.58. In this case, the first target is 108.31. The short-term downward movement is possible in the range of 108.31-108.10 and the breakdown of the last value will lead to a pronounced movement. The target is 107.80. The potential value for the bottom is the level of 107.62, upon reaching which we expect consolidation, as well as a pullback upwards.

The short-term upward movement is expected in the range of 108.58-109.06 and the breakdown of the last value will lead to an in-depth correction. The target is 109.31 and this level is the key support for the downward structure.

The main trend is the formation of initial conditions for the downward movement from December 2.

Trading recommendations:

Buy: 108.85 Take profit: 109.04

Buy: 109.08 Take profit: 109.30

Sell: 108.30 Take profit: 108.12

Sell: 108.08 Take profit: 107.80

For the Canadian dollar/Dollar pair, the key levels on the H1 scale are 1.3237, 1.3216, 1.3198, 1.3172, 1.3155, 1.3138, and 1.3107. We follow the development of the downward trend of December 3. The short-term downward movement is expected in the range of 1.3172-1.3155 and the breakdown of the last value will lead to a movement to the level of 1.3138, consolidation is near this level. The potential value for the bottom is the level of 1.3107, upon reaching this value, we expect a pullback upwards.

The short-term upward movement, as well as consolidation, are possible in the area of 1.3198-1.3216 and the breakdown of the latter value will lead to an in-depth correction. The target is 1.3237 and this level is the key support for the downward structure.

The main trend is the downward structure of December 3.

Trading recommendations:

Buy: 1.3198 Take profit: 1.3215

Buy: 1.3217 Take profit: 1.3236

Sell: 1.3171 Take profit: 1.3155

Sell: 1.3154 Take profit: 1.3138

For the Australian dollar/Dollar pair, the key levels on the H1 scale are 0.6878, 0.6851, 0.6830, 0.6807, 0.6797, and 0.6781. We follow the formation of the expressed initial conditions for the top of November 29. The short-term upward movement is expected in the range 0.6830-0.6851. The breakout of the level of 0.6851 will lead to a pronounced upward trend. The potential target is 0.6878 and consolidation is near this value.

The short-term downward movement is expected in the area of 0.6807-0.6797 and the breakdown of the last value will lead to an in-depth correction. The target is 0.6781 and this level is the key support for the upward structure.

The main trend is the formation of pronounced initial conditions for the top of November 29.

Trading recommendations:

Buy: 0.6830 Take profit: 0.6848

Buy: 0.6853 Take profit: 0.6878

Sell: 0.6807 Take profit: 0.6797

Sell: 0.6795 Take profit: 0.6783

For the Euro/Yen pair, the key levels on the H1 scale are 122.10, 121.90, 121.55, 121.29, 120.97, 120.66, 120.34, 120.10, and 119.64. The price formed a local upward structure from December 4 to continue the upward trend. We expect the upward movement to continue after the breakdown of 120.97. In this case, the first target is 121.29 and consolidation is near this level. In the area of 121.29-121.55, there is a short-term upward movement and the breakdown of 121.55 should be accompanied by a pronounced upward movement. The target is 121.90. The potential value for the top is the level of 122.10, upon reaching which we expect consolidation in the area of 121.90-122.10, as well as a pullback downwards.

The short-term downward movement is possible in the area of 120.52-120.34. The breakdown of the last value will lead to a movement to the level of 120.10 and this level is the key support for the upward trend.

The main trend is the local upward structure from December 4.

Trading recommendations:

Buy: 120.98 Take profit: 121.27

Buy: 121.30 Take profit: 121.55

Sell: 120.32 Take profit: 120.10

Sell: 120.05 Take profit: 119.70

For the Pound/Yen pair, the key levels on the H1 scale are 144.56, 144.06, 143.45, 143.09, 142.50, 142.06, and 141.51. We determined the following goals for the top from the local ascending structure on December 4. The short-term upward movement is expected in the area of 143.09-143.45 and the breakdown of the last value will lead to a pronounced movement. The target is 144.06. The potential value for the top is the level of 144.56, upon reaching this value, we expect consolidation, as well as a pullback downwards.

A short-term downward movement is possible in the area of 142.50-142.06 and the breakdown of the last value will lead to an in-depth correction. The target is 141.51 and this level is the key support for the top.

The main trend is the local upward structure from December 4.

Trading recommendations:

Buy: 143.10 Take profit: 143.44

Buy: 143.50 Take profit: 144.06

Sell: 142.50 Take profit: 142.10

Sell: 142.04 Take profit: 141.54