Fractal analysis of major currency pairs on October 11

Dear colleagues.

For the Euro / Dollar currency pair, the price is close to the cancellation of the downward structure of October 3, for which a breakdown of 1.1564 is necessary. For the Pound / Dollar pair, we should continue the upward movement after passing by the price of the range of 1.3181 – 1.3211. For the currency pair Dollar / Franc, the price is in the correction. For the currency pair Dollar / Yen, we are following the downward cycle from October 3 and currently, we are waiting for the movement to the level of 111.77. For the Euro / Yen currency pair, we consider the level of 128.35 to be a potential value for the downward trend and we consider the movement upwards as a correction. For the currency pair Pound / Yen, the descending structure of October 8 is still relevant for setting goals.

Forecast for October 11:

Analytical review of H1-scale currency pairs:

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For the Euro / Dollar currency pair, the key levels on the scale of H1 are: 1.1594, 1.1564, 1.1527, 1.1455, 1.1431, 1.1414 and 1.1364. Here, the situation has entered an equilibrium state and the range of 1.1527 -1.1564 is the key support for the downward structure of October 3. Its price passage will have to fix the initial conditions for the upward cycle. The short-term downward movement is possible in the range of 1.1455 – 1.1431, from here we expect a key upward reversal. The range of 1.1431 – 1.1414 and the passage of its price will allow counting on a pronounced movement to the level of 1.1364.

The main trend is the equilibrium state.

Trading recommendations:

Buy 1.1530 Take profit: 1.1562

Buy 1.1565 Take profit: 1.1592

Sell: 1.1455 Take profit: 1.1433

Sell: 1.1414 Take profit: 1.1366

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For the pound / dollar currency pair, the key levels on the scale of H1 are: 1.3292, 1.3263, 1.3211, 1.3181, 1.3114, 1.3081, 1.3024 and 1.2999. Here, we are following the ascending cycle of October 4th. The short-term upward movement is possible in the range of 1.3181 – 1.3211 and the breakdown of the latter value will lead to the development of a pronounced movement. Here, the target is 1.3263. The potential value for the top is considered the level of 1.3292, upon reaching which we expect consolidation, as well as a rollback to the top.

The short-term downward movement is possible in the range of 1.3114 – 1.3081 and the breakdown of the latter value will lead to a prolonged movement. Here, the target is 1.3024 and the range of 1.3024 – 1.2999 is the key support for the upward structure.

The main trend is the upward cycle of October 4.

Trading recommendations:

Buy: 1.3181 Take profit: 1.3210

Buy: 1.3214 Take profit: 1.3260

Sell: 1.3114 Take profit: 1.3084

Sell: 1.3079 Take profit: 1.3030

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For the Dollar / Franc currency pair, the key levels on the scale of H1 are: 1.0010, 0.9965, 0.9923, 0.9875, 0.9842 and 0.9793. Here, we continue to monitor the development of the upward cycle of September 21. At the moment, the price is in the correction. The short-term upward movement is possible in the range of 0.9923 – 0.9965 and the breakdown of the latter value will lead to movement to the potential target of 1.0010, we expect a rollback downwards from this level.

The short-term downward movement is possible in the range of 0.9875 – 0.9842 and the breakdown of the latter value will lead to a prolonged correction. Here, the target is 0.9793 and this level is the key support for the upward structure.

The main trend is the upward structure of September 21, the stage of correction.

Trading recommendations:

Buy: 0.9924 Take profit: 0.9963

Buy: 0.9967 Take profit: 1.0010

Sell: 0.9875 Take profit: 0.9844

Sell: 0.9840 Take profit: 0.9796

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For the Dollar / Yen currency pair, the key levels on the scale of H1 are: 113.31, 112.72, 112.38, 111.77, 111.48, 111.02 and 110.38. Here, we are following the downward cycle of October 3rd. At the moment, we expect to reach the level of 111.77 and in the range of 111.77 – 111.48 is the consolidation. The breakdown of the level of 111.48 will lead to the movement to 111.02, near this level is the consolidation of the price. The potential value for the bottom is considered the level of 110.38, after reaching which, we expect a rollback to the top.

The short-term upward movement is possible in the range of 112.38 – 112.72 and the breakdown of the latter value will lead to a prolonged correction. Here, the goal is 113.31 and this level is the key support for the downward structure.

The main trend is the downward cycle of October 3.

Trading recommendations:

Buy: 112.38 Take profit: 112.70

Buy: 112.75 Take profit: 113.30

Sell: 111.75 Take profit: 111.50

Sell: 111.46 Take profit: 111.04

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For the Canadian dollar / Dollar currency pair, the key levels on the scale of H1 are: 1.3141, 1.3106, 1.3068, 1.3034, 1.3005, 1.2964 and 1.2926. Here, we are following the ascending structure of October 1. The continuation of the upward movement is expected after the breakdown of 1.3068. In this case, the goal is 1.3106, near this level is the consolidation. The potential value for the top is considered to be the level of 1.3141, upon reaching which we expect consolidation and rollback downwards.

The short-term downward movement is possible in the range of 1.3034 – 1.3005 and the breakdown of the last value will lead to a prolonged correction. Here, the target is 1.2964 and this level is the key support for the upward structure from October 1. Its breakdown will have to form the initial conditions for the downward movement. Here, the target is 1.2926.

The main trend is the ascending structure of October 1.

Trading recommendations:

Buy: 1.3068 Take profit: 1.3104

Buy: 1.3108 Take profit: 1.3140

Sell: 1.3032 Take profit: 1.3007

Sell: 1.3002 Take profit: 1.2966

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The currency pair Australian dollar / Dollar, the key levels on the scale of H1 are: 0.7130, 0.7110, 0.7092, 0.7073, 0.7040, 0.7010 and 0.6975. Here, the price draws up the local structure of October 10 to continue moving downwards. The continuation of the downward trend is expected after the breakdown of 0.7040. In this case, the goal is 0.7010, near this level is the consolidation. For the time being, we consider the level of 0.6975 as a potential value, upon reaching which we expect a rollback to the top.

The short-term upward movement is expected in the range of 0.7073 – 0.7092 and the breakdown of the latter value will lead to the movement to the level of 0.7110, which is the key support for the downward structure.

The main trend is the formation of a local structure for the bottom of October 10.

Trading recommendations:

Buy: 0.7073 Take profit: 0.7090

Buy: 0.7092 Take profit: 0.7110

Sell: 0.7040 Take profit: 0.7012

Sell: 0.7008 Take profit: 0.6977

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For the Euro / Yen currency pair, the key levels on the scale of H1 are: 130.94, 130.34, 129.97, 129.43, 129.07 and 128.35. Here, we continue to monitor the downward structure of September 25. The short-term downward movement is possible in the range of 129.43 – 129.07, hence the probability of a upward reversal. The breakdown of the level of 129.07 will allow us to count on the movement towards a potential target of 128.35, after reaching which we expect a rollback to the correction.

The short-term upward movement is possible in the range of 129.97 – 130.34 and the breakdown of the latter value will lead to a prolonged correction. Here, the goal is 130.94 and this level is the key support for the downward structure.

The main trend is the downward structure of September 25.

Trading recommendations:

Buy: 129.98 Take profit: 130.32

Buy: 130.37 Take profit: 130.90

Sell: 129.41 Take profit: 129.10

Sell: 129.03 Take profit: 128.40

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For the Pound / Yen currency pair, the key levels on the scale of H1 are: 149.50, 149.00, 148.50, 147.36, 146.97, 145.94 and 145.41. Here, the descending structure of October 8 is still relevant for setting goals. A downward movement is expected after the price passes the range of 147.36 – 146.97. In this case, the target is 145.94. The potential value for the downward structure is considered the level of 145.41, near which we expect consolidation, as well as a rollback to the top.

The short-term uptrend is possible in the range of 148.50 – 149.00. The breakdown of the latter value will have to form the initial conditions for the top. Here, the potential target is 149.50.

The main trend is the formation of the downward structure of October 8.

Trading recommendations:

Buy: 148.50 Take profit: 149.00

Buy: 149.05 Take profit: 149.50

Sell: 146.95 Take profit: 146.00

Sell: 145.90 Take profit: 145.44

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