11.11.202009:54 Forex Analysis & Reviews: Fractal analysis for major pairs on November 11

Outlook on November 11:

Analytical overview of major pairs on the H1 TF:

The key levels for the euro/dollar pair are 1.2122, 1.2056, 1.1957, 1.1878, 1.1799, 1.1759 and 1.1701. The upward pattern of November 4 is considered here as large initial conditions for the next development of the upward cycle. Now, growth of the pair is expected to continue after breaking through 1.1878. In this case, the first goal is 1.1957. Price consolidation is near this level. On the other hand, the breakdown of 1.1958 should be accompanied by a strong rise. The goal here is 1.2056. As a potential value for the top, we consider the level 1.2122. Upon reaching which, consolidation and downward pullback is expected.

A short-term decline, in turn, is expected in the range of 1.1799 - 1.1759. In case that the last value breaks down, it will lead to a deep correction. Here, the target is 1.1701, which is a key upward support level.

The main trend is the upward structure from November 4

Trading recommendations:

Buy: 1.1878 Take profit: 1.1955

Buy: 1.1958 Take profit: 1.2055

Sell: 1.1799 Take profit: 1.1760

Sell: 1.1757 Take profit: 1.1702

The key levels for the pound/dollar pair are 1.3543, 1.3439, 1.3389, 1.3307, 1.3215, 1.3169 and 1.3108. Here, we are following the formation of the rising pattern from November 2. The pair is expected to continue rising after breaking through the level of 1.3307. In this case, the target is 1.3389. On the other hand, there is a short-term growth and consolidation in the range of 1.3389 - 1.3439. For the potential value for the top, we consider the level of 1.3543. Upon reaching which, a pullback into the correction can be expected.

Meanwhile, a short-term decline is expected in the range of 1.3215 - 1.3169. If the last value breaks down, it will lead to a deep correction. The goal here is 1.3108, which is the key support for the top.

The main trend is the upward cycle from November 2

Trading recommendations:

Buy: 1.3307 Take profit: 1.3388

Buy: 1.3390 Take profit: 1.3437

Sell: 1.3215 Take profit: 1.3170

Sell: 1.3167 Take profit: 1.3108

The key levels for the dollar/franc pair are 0.9292, 0.9253, 0.9174, 0.9146, 0.9100, 0.9076 and 0.9043. The price of the pair forms a strong potential for the November 9 high. Moreover, a short-term growth is expected in the range of 0.9146 - 0.9174. If the last value breaks down, it should be accompanied by a strong growth. The goal now is 0.9253. On the other hand, we consider the level 0.9292 as a potential value for the top. Upon reaching which, consolidation and downward pullback is likely.

In turn, a short-term decline is possible in the range of 0.9100 - 0.9076. In case of breakdown of the last value, a deep correction will occur. Here, the goal is 0.9043, which is the key support for the upward structure.

The main trend is the formation of potential for the top from November 9

Trading recommendations:

Buy : 0.9146 Take profit: 0.9173

Buy : 0.9176 Take profit: 0.9250

Sell: 0.9100 Take profit: 0.9076

Sell: 0.9074 Take profit: 0.9045

The key levels for the dollar/yen are 107.56, 106.59, 106.24, 105.67, 104.74, 104.42 and 103.78. The price forms a strong potential for the upward cycle from November 6. Now, growth is expected to resume after breaking through the level of 105.67. In this case, the goal is 106.24. Meanwhile, there is a short-term growth and consolidation in the range of 106.24 - 106.59. If the level of 106.60 breaks down, it will lead to a potential goal of 107.56. Upon reaching this level, downward pullback is expected.

A short-term decline is possible in the range of 104.74 - 104.42. If the last value breaks down, it will lead to a deep correction. The goal is 103.78, which is a key support for the upward structure.

The key trend is the capacity for the upward formation of November 6

Trading recommendations:

Buy: 105.68 Take profit: 106.22

Buy : 106.25 Take profit: 106.58

Sell: 104.74 Take profit: 104.43

Sell: 104.40 Take profit: 103.80

The key levels for the USD/CAD pair are 1.3144, 1.3080, 1.3038, 1.2942, 1.2868 and 1.2806. Here, we are following the development of the descending structure from November 2. In view of this, the pair is expected to continue declining after breaking through the level of 1.2942. In this case, the goal is 1.2868. On the other hand, we consider the level 1.2806 as a potential value for the bottom. Upon reaching which, a pullback into correction is possible.

Now, a short-term growth is possible in the range of 1.3038 - 1.3080. If the last value breaks down, a deep correction will occur. The goal is 1.3144, which is the key support level for the downward structure.

The main trend is the descending structure from November 2

Trading recommendations:

Buy: 1.3038 Take profit: 1.3078

Buy : 1.3081 Take profit: 1.3144

Sell: 1.2941 Take profit: 1.2870

Sell: 1.2866 Take profit: 1.2806

The key levels for the AUD/USD pair are 0.7432, 0.7366, 0.7317, 0.7289, 0.7248, 0.7214 and 0.7178. We continue to monitor the formation of the rising pattern from November 2. Now, a short-term rise is expected in the range of 0.7289 - 0.7317. If the last value breaks down, it will lead to a strong rise. Here, the target is 0.7366 and price consolidation is near this level. For the potential value for the top, we consider the level 0.7432. A downward pullback is likely upon reaching this level.

In turn, a short-term decline is expected in the range of 0.7248 - 0.7214. If the last value breaks down, a deep correction will occur. Here, the target is 0.7178, which is the key support for the top.

The main trend is the upward cycle from November 2

Trading recommendations:

Buy: 0.7319 Take profit: 0.7365

Buy: 0.7368 Take profit: 0.7431

Sell : 0.7246 Take profit : 0.7216

Sell: 0.7212 Take profit: 0.7180

The key levels for the euro/yen pair are 125.45, 125.05, 124.62, 124.36, 123.88, 123.55 and 123.13. The rising pattern from October 30 is being followed here. Moreover, a short-term increase is expected in the range of 124.36 - 134.62. If the last value breaks down, it will lead to the level of 125.05. For the potential value for the top, we consider the level of 125.45. Price consolidation is expected near this level.

A short-term decline is possible in the range of 123.88 - 123.55 and breaking through the last value will lead to a deep correction. The goal here is 123.13, which is the key support level for the top.

The main trend is the upward structure from October 30

Trading recommendations:

Buy: 124.64 Take profit: 125.03

Buy: 125.07 Take profit: 125.45

Sell: 123.88 Take profit: 123.57

Sell: 123.53 Take profit: 123.15

The key levels for the pound/yen pair are 141.43, 140.36, 139.86, 139.01, 138.42 and 137.54. Here, we are following the upward pattern of October 30. Now, a short-term growth for this pair is expected in the range of 139.86 - 140.36. If the last value breaks down, it will lead to a strong rise. The goal here is 141.43. Upon reaching this level, a downward pullback can be expected.

A short-term decline, in turn, is likely in the range of 139.01 - 138.42. If the last value breaks down, it will lead to a deep correction. The goal here is 137.54, which is a key support for the top.

The main trend is the upward structure from October 30

Trading recommendations:

Buy: 139.87 Take profit: 140.34

Buy: 140.38 Take profit: 141.40

Sell: 139.00 Take profit: 138.44

Sell: 138.40 Take profit: 137.70