Forecast for December 11:
Analytical review of currency pairs on the scale of H1:
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. Here, we are following the development of the upward cycle of November 29. We expect a short-term upward movement, as well as consolidation in the range of 1.1096 - 1.1114. The breakdown of the level of 1.1114 will lead to a movement to 1.1130. Price consolidation is near this level. For the potential value for the top, we consider the level of 1.1170. The movement to which is expected after the breakdown of the level of 1.1130.
Short-term downward movement is expected in the range of 1.1065 - 1.1048. The breakdown of the last value will lead to an in-depth correction. Here, the goal is 1.1024. This level is a key support for the upward structure.
The main trend is the formation of initial conditions for the top of November 29, the correction stage
Trading recommendations:
Buy: 1.1096 Take profit: 1.1114
Buy: 1.1114 Take profit: 1.1130
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. Here, we are following the development of the upward cycle of November 27. The continuation of the movement to the top is expected after the breakdown of the level of 1.3150. In this case, the target is 1.3205. Price consolidation is near this level. For the potential value for the top, we consider the level of 1.3249. Upon reaching this level, we expect consolidation, as well as a pullback to the bottom.
Short-term downward movement is possibly in the range of 1.3102 - 1.3075. The breakdown of the last value will lead to an in-depth correction. Here, the target is 1.3025. This level is a key support for the top.
The main trend is the upward cycle of 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: 0.9915, 0.9884, 0.9864, 0.9820, 0.9789 and 0.9745. Here, we are following the development of the downward structure of November 29. The continuation of movement to the bottom is expected after the breakdown of the level of 0.9820. In this case, the target is 0.9789. Price consolidation is near this level. The breakdown of the level of 0.9789 should be accompanied by a pronounced downward movement. In this case, the potential target is 0.9745. We expect a rollback to correction from this level.
Short-term upward movement is possibly in the range of 0.9864 - 0.9884. The breakdown of the latter value will lead to in-depth movement. Here, the target is 0.9915. This level is a key support for the downward structure of November 29.
The main trend is the downward structure of November 29
Trading recommendations:
Buy : 0.9864 Take profit: 0.9883
Buy : 0.9885 Take profit: 0.9913
Sell: 0.9820 Take profit: 0.9791
Sell: 0.9787 Take profit: 0.9745
For the dollar / yen pair, the key levels on the scale are : 109.31, 109.06, 108.85, 108.58, 108.31, 108.10, 107.80 and 107.62. Here, we are following the descending structure of December 2. Short-term movement to the bottom is possibly in the range 108.31 - 108.10. The breakdown of the last value will lead to a pronounced movement. Here, the goal is 107.80. For the potential value for the bottom, we consider the level of 107.62. Upon reaching which, we expect consolidation, as well as a rollback to the top.
Short-term upward movement is expected in the range 108.85 - 109.06. The breakdown of the last value will lead to an in-depth correction. Here, the goal is 109.31. This level is a key support for the downward structure.
Main trend: descending structure of 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 / US dollar pair, the key levels on the H1 scale are: 1.3372, 1.3344, 1.3303, 1.3270, 1.3222, 1.3198 and 1.3155. Here, we are following the formation of the ascendant structure of December 5. The continuation of the movement to the top is expected after the breakdown of the level of 1.3270. In this case, the target is 1.3303. Price consolidation is near this level. The breakdown of the level of 1.3306 will lead to a pronounced movement. Here, the target is 1.3344. The potential value for the top is considered to be the level of 1.3372. Upon reaching which, we expect consolidation, also a rollback to correction.
Short-term downward movement is possibly in the range of 1.3222 - 1.3198. The breakdown of the latter value will lead to the development of a downward trend. Here, the target is 1.3155.
The main trend is the formation of the ascending structure of December 5
Trading recommendations:
Buy: 1.3270 Take profit: 1.3303
Buy : 1.3305 Take profit: 1.3344
Sell: 1.3220 Take profit: 1.3200
Sell: 1.3196 Take profit: 1.3160
For the Australian dollar / US dollar pair, the key levels on the H1 scale are : 0.6878, 0.6851, 0.6830, 0.6807, 0.6797 and 0.6781. Here, we are following the formation of expressed initial conditions for the top of November 29. At the moment, the price is in the correction zone from this structure. Short-term upward movement is expected in the range of 0.6830 - 0.6851. The breakdown of the level of 0.6851 will lead to a marked development of the upward trend. Here, the potential target is 0.6878. Price consolidation is near this value.
Short-term downward movement is expected in the range of 0.6807 - 0.6797. The breakdown of the last value will lead to an in-depth correction. Here, the target is 0.6781. This level is a key support for the upward structure.
The main trend is the formation of expressed initial conditions for the top of November 29, the correction stage
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: 121.45, 121.25, 120.98, 120.76, 120.35, 120.17, 119.93 and 119.66. Here, the price is in equilibrium: the descending structure of December 5, as well as the ascending structure of December 9. The development of the upward trend is expected after the breakdown of the level of 120.76. In this case, the target is 120.98. Price consolidation is near this level. The breakdown of the level of 121.00 should be accompanied by a pronounced upward movement. Here, the goal is 121.25. For the potential value for the top, we consider the level of 121.45. Upon reaching which, we expect a rollback to the correction.
Short-term downward movement is possibly in the range of 120.35 - 120.17. The breakdown of the latter value will have the downward structure development from December 5, and in this case, the first goal is 119.93. For the potential value for the bottom, we consider the level of 119.66.
The main trend is the equilibrium situation.
Trading recommendations:
Buy: 120.76 Take profit: 120.96
Buy: 121.00 Take profit: 121.25
Sell: 120.35 Take profit: 120.20
Sell: 120.15 Take profit: 119.95
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. Here, we are following the ascending structure of December 4. Short-term movement to the top is expected in the range of 143.09 - 143.45. The breakdown of the last value will lead to a pronounced movement. Here, the goal is 144.06. For the potential value for the top, we consider the level of 144.56. Upon reaching this value, we expect consolidation, as well as a pullback to the bottom.
Short-term downward movement is possibly in the range of 142.50 - 142.06. The breakdown of the last value will lead to an in-depth correction. Here, the goal is 141.51. This level is a key support for the top.
The main trend is the local ascending structure of 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