12.11.202011:00 Forex Analysis & Reviews: Fractal analysis for major pairs on November 12

Outlook on November 12:

Analytical overview of major pairs on the H1 TF:

The key levels for the euro/dollar pair are 1.1859, 1.1823, 1.1796, 1.1747, 1.1701, 1.1668 and 1.1622. The descending pattern from November 9 is considered as a pivot point for determining the next goals. Now, the decline is expected to continue after breaking through the level of 1.1747. In this case, the goal is 1.1701. On the other hand, there is a short-term decline and consolidation in the range of 1.1701 - 1.1668. For the potential value for the bottom, we have the level of 1.1622. Upon reaching which, an upward pullback can be expected.

A short-term growth, in turn, is expected in the range of 1.1796 - 1.1823. If the last value breaks down, it will lead to a deep correction. The goal is 1.1859, which is the key support for the downward pattern. Its breakdown will be helpful to the subsequent development of the upward trend. In this case, the first potential goal is 1.1921.

The main trend is an upward structure from November 4, a downward potential from November 9

Trading recommendations:

Buy: 1.1796 Take profit: 1.1821

Buy: 1.1824 Take profit: 1.1857

Sell: 1.1745 Take profit: 1.1701

Sell: 1.1698 Take profit: 1.1668

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 structure from November 2. The pair is expected to continue rising after the level of 1.3307 breaks down. In this case, the goal 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 correction is likely.

A consolidated movement is expected in the range of 1.3215 - 1.3169. If the last value breaks down, a deep correction will occur. The goal 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: Take profit:

Sell: 1.3167 Take profit: 1.3108

The key levels for the dollar/franc pair are 0.9364, 0.9305, 0.9263, 0.9202, 0.9142, 0.9105 and 0.9063. The development of the rising structure from November 9 is being followed here. Moreover, we expect growth to continue after breaking through the level of 0.9202. In this case, the goal is 0.9263. On the other hand, there is a short-term growth as well as consolidation in the range of 0.9263 - 0.9305. For the potential value for the top, the level of 0.9364 can be considered, which will be followed by a downward pullback.

A short-term decline, in turn, is possible in the range of 0.9142 - 0.9105. If the last value breaks down, it will lead to a deep correction. The goal here is 0.9063, which is the key support for the upward pattern.

The main trend is the upward structure from November 9

Trading recommendations:

Buy : 0.9202 Take profit: 0.9261

Buy : 0.9265 Take profit: 0.9303

Sell: 0.9141 Take profit: 0.9107

Sell: 0.9103 Take profit: 0.9064

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, 1.3003, 1.2942, 1.2868 and 1.2806. Here, we are following the development of the descending structure from November 2. At the moment, the price is in a deep correction. On the other hand, there is a short-term decline. We expect the formation of a strong structure of initial conditions in the range of 1.3080 - 1.3144.

Meanwhile, the decline is expected to continue after breaking through the level of 1.3003. In this case, the first goal is 1.2942. If this level breaks down, we can continue to move further towards the level of 1.2868. For the potential value for the bottom, the level of 1.2806 can be considered. Upon reaching which, a pullback into the correction is possible.

The main trend is the descending structure from November 2, the correction stage

Trading recommendations:

Buy: Take profit:

Buy : 1.3081 Take profit: 1.3144

Sell: 1.3003 Take profit: 1.2945

Sell: 1.2941 Take profit: 1.2870

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 consolidated movement 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 goal 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. At the moment, the price is in correction. On the other hand, 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, the correction stage

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. The price is currently in correction. 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, the correction stage

Trading recommendations:

Buy: 139.87 Take profit: 140.34

Buy: 140.38 Take profit: 141.40

Sell: Take profit:

Sell: 138.40 Take profit: 137.70