Fractal analysis for major currency pairs as of October 9

Hello, dear colleagues.

For the Euro/Dollar pair, the upward structure of October 1 is considered as medium-term initial conditions and the level of 1.1004 is the key resistance for the top. For the Pound/Dollar pair, we follow the development of the downward cycle from October 3 and the continuation of the downward movement is expected after the price passes the range of 1.2191 – 1.2171. For the Dollar/Franc pair, the development of the downward structure from October 3 is expected after the breakdown of 0.9920 and the level of 0.9974 is the key support. For the Dollar/Yen pair, the price forms a potential for the top of October 4 and the development of this structure is expected after the breakdown of 107.51. For the Euro/Yen pair, the upward structure from October 4 is still relevant to determine the goals. For the Pound/Yen pair, the targets for the downward movement from the main structure were specified on September 20 and the level of 130.62 is the key resistance for the bottom.

Forecast for October 9:

Analytical review of currency pairs on the H1 scale:

analytics5d9dd03425a62.png

For the Euro/Dollar pair, the key levels on the H1 scale are 1.1082, 1.1039, 1.1021, 1.1004, 1.0966, 1.0949, and 1.0925. We consider the upward structure of October 1 as medium-term initial conditions. The continuation of the downward movement is expected after the breakdown of 1.1004. In this case, the target is 1.1021 and the breakdown of which will allow us to count on the movement of 1.1039, near this level is the consolidation. We consider the level of 1.1082 as a potential value for the top, the expressed movement to which, we expect after the breakdown of 1.1040.

The short-term downward movement is possible in the range of 1.0966 – 1.0949 and the breakdown of the last value will lead to a protracted correction. The target is 1.0925 and this level is the key support for the top.

The main trend is the medium-term upward structure from October 1.

Trading recommendations:

Buy: 1.1005 Take profit: 1.1020

Buy 1.1022 Take profit: 1.1037

Sell: 1.0965 Take profit: 1.0950

Sell: 1.0947 Take profit: 1.0925

analytics5d9dd04ecdde8.png

For the Pound/Dollar pair, the key levels on the H1 scale are 1.2308, 1.2268, 1.2243, 1.2191, 1.2171, 1.2131, and 1.2081. We follow the development of the downward cycle of October 3 after the cancellation of the upward structure. The continuation of the downward movement is expected after the price passes the range of 1.2191 – 1.2171. In this case, the target is 1.2131 and near this level is the price consolidation. We consider the level of 1.2081 as a potential value for the bottom, upon reaching which, we expect a pullback to the top.

The short-term upward movement is expected in the range of 1.2243 – 1.2268 and the breakdown of the last value will lead to an in-depth correction. The target is 1.2308 and this level is the key downward structure.

The main trend is the downward cycle from October 3.

Trading recommendations:

Buy: 1.2243 Take profit: 1.2267

Buy: 1.2270 Take profit: 1.2308

Sell: 1.2170 Take profit: 1.2135

Sell: 1.2128 Take profit: 1.2081

analytics5d9dd065eb3ef.png

For the Dollar/Franc pair, the key levels on the H1 scale are 1.0027, 0.9999, 0.9974, 0.9957, 0.9921, 0.9892, 0.9872, and 0.9845. We follow the development of the downward structure of October 3. The continuation of the downward trend is expected after the breakdown of 0.9921. In this case, the target is 0.9892 and in the area of 0.9892 – 0.9872 is the price consolidation. We consider the level of 0.9845 as a potential value for the bottom, upon reaching which, we expect a pullback to the top.

A short-term upward movement is possible in the area of 0.9957 – 0.9974 and the breakdown of the last value will lead to a deep correction. The target is 0.9999 and this level is the key support for the downward structure. Its breakdown will have to develop an upward movement. The potential target is 1.0027.

The main trend is the downward structure of October 3.

Trading recommendations:

Buy: 0.9976 Take profit: 0.9999

Buy: 1.0003 Take profit: 1.0027

Sell: 0.9920 Take profit: 0.9892

Sell: 0.9870 Take profit: 0.9845

analytics5d9dd0920f4e4.png

For the Dollar/Yen pair, the key levels in the H1 scale are 108.39, 108.14, 107.80, 107.51, 107.10, 106.90, 106.54, and 106.27. The price forms the potential for the top of October 4. The continuation of the upward movement is expected after the breakdown of 107.51. In this case, the target is 107.80 and near this level is the price consolidation. A break of 107.80 will lead to a pronounced movement. The target is 108.14. We consider the level of 108.39 as a potential value for the top, upon reaching which, we expect consolidation, as well as a pullback to the bottom.

The short-term downward movement is expected in the area of 107.10 – 106.90 and the breakdown of the last value will have to develop a downward structure. In this case, the first target is 106.54. We consider the level of 106.27 as a potential value for the bottom.

The main trend is the formation of the upward potential of October 4.

Trading recommendations:

Buy: 107.51 Take profit: 107.80

Buy: 107.82 Take profit: 108.12

Sell: 107.10 Take profit: 106.92

Sell: 106.88 Take profit: 106.60

analytics5d9dd0acb278c.png

For the Canadian dollar/Dollar pair, the key levels on the H1 scale are 1.3369, 1.3350, 1.3336, 1.3304, 1.3287, and 1.3254. The price forms the medium-term initial conditions for the top of October 2. The short-term upward movement is possible in the range of 1.3336 – 1.3350, from here we expect a key reversal in the correction. We consider the level of 1.3369 as a potential value for the top.

The short-term downward movement is possible in the range of 1.3304 – 1.3287 and the breakdown of the last value will lead to an in-depth correction. The target is 1.3254 and this level is the key support for the top.

The main trend is the formation of medium-term initial conditions from October 2.

Trading recommendations:

Buy: 1.3336 Take profit: 1.3350

Buy: 1.3352 Take profit: 1.3369

Sell: 1.3304 Take profit: 1.3390

Sell: 1.3285 Take profit: 1.3260

analytics5d9dd0ca2baa5.png

For the Australian dollar/Dollar pair, the key levels on the H1 scale are 0.6868, 0.6838, 0.6815, 0.6782, 0.6772, 0.6746, 0.6730, and 0.6710. We follow the development of the upward structure from October 2. At the moment, the price is in the correction zone. The continuation of the upward movement is expected after the price passes the range of 0.6772 – 0.6782. In this case, the target is 0.6815 and in the area of 0.6815 – 0.6838 is the short-term upward movement, as well as consolidation. We consider the level of 0.6868 as a potential value for the top, the movement to which, we expect after the breakdown of 0.6840.

The consolidated movement is possible in the area of 0.6746 – 0.6730 and the breakdown of the last value will lead to a protracted correction. The potential target is 0.6710 and this level is the key support for the upward structure.

The main trend is the upward structure of October 2, the correction stage.

Trading recommendations:

Buy: 0.6782 Take profit: 0.6815

Buy: 0.6817 Take profit: 0.6836

Sell: Take profit:

Sell: 0.6729 Take profit: 0.6710

analytics5d9dd0e92dfee.png

For the Euro/Yen pair, the key levels on the H1 scale are 118.75, 118.54, 118.21, 117.94, 117.58, 117.38, 117.25, and 117.06. The upward structure of October 4 is still relevant to determine subsequent goals. We expect further development of the upward structure after the breakdown of 117.95. In this case, the target is 118.21 and near this level is the consolidation. The breakdown at the price level of 118.21 will lead to the development of a pronounced movement. The target is 118.54. We consider the level of 118.75 as a potential value for the top, upon reaching which, we expect consolidation, as well as a pullback to the bottom.

A correction is expected after the breakdown of 117.58. The target is 117.38 and the range of 117.38 – 117.25 is the key support for the top. Its passage at the price will lead to the development of a downward structure. The target is 117.06.

The main trend is the upward structure from October 4.

Trading recommendations:

Buy: 117.95 Take profit: 118.20

Buy: 118.23 Take profit: 118.54

Sell: 117.56 Take profit: 117.40

Sell: 117.25 Take profit: 117.07

analytics5d9dd107f3d8c.png

For the Pound/Yen pair, the key levels on the H1 scale are 132.51, 131.89, 131.45, 130.62, 130.02, 129.47, and 128.37. We have clarified the targets for the downward movement from the main structure on September 20. The continuation of the downward movement is expected after the breakdown of 130.62. In this case, the target is 130.02 and in the area of 130.02 – 129.47 is the short-term downward movement, as well as consolidation. We consider the level of 128.37 as a potential value for the bottom, movement to which, we expect after the breakdown of 129.40.

A short-term upward movement is possible in the area of 131.45 – 131.89 and the breakdown of the last value will lead to a protracted correction. The target is 132.51, up to this level, we also expect the formation of pronounced initial conditions for the upward cycle.

The main trend is the downward structure of September 20.

Trading recommendations:

Buy: 131.45 Take profit: 131.85

Buy: 131.92 Take profit: 132.50

Sell: 130.60 Take profit: 130.04

Sell: 130.00 Take profit: 129.50

The material has been provided by InstaForex Company – www.instaforex.com