Outlook on December 10:
Analytical overview of major pairs on the H1 TF:
The key levels for the euro/dollar pair are 1.2180, 1.2154, 1.2130, 1.2072, 1.2040, 1.2002 and 1.1975. The downward trend from December 4 is being followed here. Thus, we expect the decline to continue after the level of 1.2072 breaks down. In this case, the first target is 1.2040, and there is consolidation near this level. If this target breaks down, it will lead to the development of a strong decline. The next target is 1.2002. For the downward potential target, we consider the level of 1.1975. Price consolidation and upward pullback are expected upon reaching this level.
Short-term growth, in turn, is possible in the range of 1.2130 - 1.2154. In case that the last value breaks down, it will encourage the formation of a local upward trend. The first potential target here is 1.2180.
The main trend is the local upward trend of November 23, correction stage
Trading recommendations:
Buy: 1.2130 Take profit: 1.2153
Buy: 1.2155 Take profit: 1.2180
Sell: 1.2072 Take profit: 1.2042
Sell: 1.2038 Take profit: 1.2002
The key levels for the pound/dollar pair are 1.3534, 1.3464, 1.3418, 1.3294, 1.3223, 1.3148, 1.3104 and 1.2987. Here, the price of the pair is forming potential initial conditions for the December 4th downward trend. Now, we expect the decline to continue after the level of 1.3294 breaks down. In this case, the target is 1.3223 and price consolidation is around this level. If the indicated target breaks down, it will lead to a strong decline. In this case, the next target is 1.3148. On the other hand, there is a short-term decline and consolidation in the range of 1.3148 - 1.3104. For the further potential downward target, the level of 1.2987 is considered. Upon reaching this level, upward pullback is expected.
Meanwhile, the key support for the downward trend is the range of 1.3418 - 1.3464. The price overcoming this level will encourage the development of an upward trend. In this case, the first potential target is 1.3534.
The main trend is building capacity for the downward trend of December 4
Trading recommendations:
Buy: 1.3418 Take profit: 1.3463
Buy: 1.3465 Take profit: 1.3534
Sell: 1.3294 Take profit: 1.3225
Sell: 1.3221 Take profit: 1.3150
The key levels for the dollar/franc pair are 0.8963, 0.8928, 0.8901, 0.8868, 0.8849, 0.8804 and 0.8772. The development of the downward cycle from November 30 is monitored here. In this regard, we expect the decline to continue after the price overcomes the noise range of 0.8868 - 0.8849. In this case, the target is 0.8804. For the potential target on the downside, we consider the level of 0.8772. Upon reaching which, price consolidation and upward pullback can be expected.
On the other hand, short-term increase is possible in the range of 0.8901 - 0.8928. If the last value breaks down, a deep correction will occur. Here, the target is 0.8963, which is the key support level for the local downward trend from November 30.
The main trend is the local downward trend of November 30
Trading recommendations:
Buy : 0.8901 Take profit: 0.8927
Buy : 0.8929 Take profit: 0.8961
Sell: 0.8848 Take profit: 0.8805
Sell: 0.8803 Take profit: 0.8773
The key levels for the dollar/yen are 105.42, 105.16, 105.04, 104.84, 104.68, 104.29, 104.11, 103.91 and 103.70. Here, the development of the upward trend from December 3 is being followed. Now, short-term rise is expected in the range of 104.68 - 104.84. In case that the last value breaks down, it should be accompanied by a strong growth. The target is here 105.04. Meanwhile, short-term upward movement and consolidation are in the range of 105.04 - 105.16. For the upward potential target, the level of 105.42 is considered. Upon reaching which, price consolidation and downward pullback can be expected.
In turn, short-term decline is possible in the range of 104.29 - 104.11. In case that the last value breaks down, a deep correction will occur. Here, the target is 103.91, which is the key support level for the upward trend from December 2.
The main trend is the upward trend from December 3
Trading recommendations:
Buy: 104.11 Take profit: 104.26
Buy : 104.28 Take profit: 104.50
Sell: 103.64 Take profit: 103.45
Sell: 103.30 Take profit: 102.90
The key levels for the USD/CAD pair are 1.2846, 1.2819, 1.2799, 1.2763, 1.2736 and 1.2710. The continuation of the downward trend from November 30 is being followed. In this regard, a short-term decline is expected in the range of 1.2763 - 1.2736. Given that the last value breaks down, it will lead to the potential target of 1.2710. Upon reaching this level, an upward pullback can be expected.
Meanwhile, short-term growth is possible in the range of 1.2800 - 1.2819. In case that the last value breaks down, a deep correction will further develop. Here, the target is 1.2846, which is the key support level for the downward trend from November 30.
The main trend is the formation of a local downward trend from November 30
Trading recommendations:
Buy: 1.2800 Take profit: 1.2818
Buy : 1.2821 Take profit: 1.2846
Sell: 1.2763 Take profit: 1.2737
Sell: 1.2735 Take profit: 1.2710
The key levels for the AUD/USD pair are 0.7569, 0.7539, 0.7517, 0.7488, 0.7449, 0.7435 and 0.7414. Here, we will determine the next targets from the local upward trend on December 7. Thus, upward movement is expected to continue after breaking through the level of 0.7488. In this case, the target is 0.7517. In turn, short-term rise and consolidation are located in the range of 0.7517 - 0.7539. The last value will be considered as a potential upward target. We expect consolidation and downward pullback after reaching this level.
Short-term decline is expected in the range of 0.7449 - 0.7435. If the last value breaks down, it will lead to a deep correction. Here, the potential target is 0.7414, which is the key support level above.
The main trend is the local upward trend of December 7
Trading recommendations:
Buy: 0.7488 Take profit: 0.7517
Buy: 0.7518 Take profit: 0.7537
Sell : 0.7435 Take profit : 0.7415
Sell: 0.7412 Take profit: 0.7377
The key levels for the euro/yen pair are 127.14, 126.80, 126.44, 126.19, 125.75, 125.36 and 125.17. The price here is in the correction from the upward trend. In view of this, we expect it to further decline after the breakdown of 125.75. In this case, the target is 125.36. For the potential next downward target, we consider the level of 125.17. Price consolidation is expected near this level.
On the other hand, a consolidated movement is expected in the range of 126.26 - 126.04. The breakdown of the last value will encourage the formation of a local upward trend. Here, the first target is 126.80. For the potential upward target, we consider the level of 127.14. Upon reaching which, consolidation as well as downward pullback are expected.
The main trend is the formation of potential downward trend from December 4
Trading recommendations:
Buy: 126.45 Take profit: 126.80
Buy: 126.82 Take profit: 127.14
Sell: 125.75 Take profit: 125.37
Sell: 125.35 Take profit: 125.18
The key levels for the pound/yen pair are 141.74, 141.43, 140.86, 140.48, 139.91, 139.69, 138.99, 138.61 and 137.89. Here, we consider the rising trend of December 7 as a reference, in determining the next targets. In this regard, upward movement is expected to resume after the price passes the noise range 139.69 - 139.91. In this case, the target is 140.48. On the other hand, there is a short-term growth and consolidation in the range of 140.48 -140.86. If the last value breaks down, it should be accompanied by a strong growth. Here, the target is 141.43. As a potential upward target, we consider the level of 141.74. Upon reaching which, price consolidation and downward pullback are possible.
Short-term decline, in turn, is possible in the range of 138.99 - 138.61; hence, an upward reversal is very likely. The breakdown of the last value will encourage the development of a downward trend. In this case, the potential target is 137.89.
The main trend is the upward structure from December 7
Trading recommendations:
Buy: 139.91 Take profit: 140.48
Buy: 140.50 Take profit: 140.85
Sell: 138.97 Take profit: 138.63
Sell: 138.59 Take profit: 137.90