Outlook on October 8:
Analytical overview of major pairs on the H1 TF:
The key levels for the euro/dollar pair on the H1 chart are 1.1904, 1.1878, 1.1835, 1.1805, 1.1774, 1.1720, 1.1696 and 1.1663. The next targets are determined from the local upward structure on October 2. Now, the growth of the pair is expected to continue after breaking through the level of 1.1774. In this case, the first target is 1.1805. If this value breaks down, we can continue moving to the level of 1.1835. Price consolidation is near this level. The breakdown of the indicated level will lead to a strong movement. Here, the target is 1.1878. For the potential value for the top, we consider the level 1.1904. Upon reaching which, we expect a downward pullback.
The level of 1.1720 is a key support and its breakdown will lead to the cancellation of the upward pattern. The first target is 1.1696, the breakout of which, in turn, will lead to the development of a downward trend. The next target will then be the level of 1.1663.
The main trend is the local structure of October 2
Trading recommendations:
Buy: 1.1774 Take profit: 1.1805
Buy: 1.1807 Take profit: 1.1833
Sell: 1.1720 Take profit: 1.1697
Sell: 1.1694 Take profit: 1.1665
The key levels for the pound/dollar pair are 1.3250, 1.3170, 1.3107, 1.3016, 1.2882 and 1.2814. Here, we are following the development of the top-bottom structure from September 25. The upward movement is expected to continue after breaking through the level of 1.3016. In this case, the target is 1.3107. There is a short-term downward movement and consolidation in the range of 1.3107 - 1.3170. For the potential value for the top, we consider the level of 1.3250. Upon reaching which, we expect a consolidated movement and downward pullback.
A short-term downward movement is expected in the range of 1.2882 - 1.2814. If the last value breaks down, it will lead to the cancellation of the upward trend. In this case, we expect the formation of initial conditions for the downward direction.
The main trend is the upward structure from September 25
Trading recommendations:
Buy: 1.3016 Take profit: 1.3107
Buy: 1.3109 Take profit: 1.3168
Sell: Take profit:
Sell: 1.2880 Take profit: 1.2815
The key levels for the dollar/franc pair are 0.9243, 0.9211, 0.9180, 0.9145, 0.9103, 0.9075 and 0.9033. We are following the development of the top-down structure from September 25. In this regard, the decline is expected to continue after the breakdown of the level of 0.9145. In this case, the target is 0.9103. On the other hand, there is a short-term downward movement in the range of 0.9103 - 0.9075. In turn, price consolidation is near the level of 0.9075. For the potential value for the bottom, we consider the level 0.9033. Upon reaching which, we expect an upward pullback.
A short-term upward movement is expected in the range of 0.9180 - 0.9211. If the last value breaks down, it will lead to a deep correction. Here, the potential target is 0.9243, which is the key support for the bottom.
The main trend is the descending structure from September 25
Trading recommendations:
Buy : 0.9180 Take profit: 0.9210
Buy : 0.9213 Take profit: 0.9240
Sell: 0.9143 Take profit: 0.9105
Sell: 0.9101 Take profit: 0.9077
The key levels for the dollar/yen are 106.91, 106.73, 106.45, 106.26, 105.88, 105.70 and 105.41. The development of the upward cycle from October 2 is being followed here. Moreover, a short-term upward movement is expected in the range of 106.26 - 106.45. If the last value breaks down, it will lead to a strong growth. Here, the target is 106.73. For the potential value for the top, we consider the level 106.9. Upon reaching which, we expect consolidation and downward pullback.
A short-term downward movement is possible in the range of 105.88 - 105.70. If the last value breaks down, it will lead to a deep correction. Here, the target is 105.41, which is the key support for the top.
The main trend is the upward structure from October 2
Trading recommendations:
Buy: 106.27 Take profit: 106.44
Buy : 106.46 Take profit: 106.71
Sell: 105.88 Take profit: 105.71
Sell: 105.69 Take profit: 105.42
The key levels for the USD/CAD pair are 1.3328, 1.3295, 1.3271, 1.3210, 1.3180, 1.3135 and 1.3110. Here, we are following the development of the downward cycle from September 29. At the moment, we expect a movement to the level of 1.3210. There is a short-term downward movement and consolidation in the range of 1.3210 - 1.3180. If the last value breaks down, it will lead to the development of a strong decline. Here, the target is 1.3135. For the potential value for the bottom, we consider the level of 1.3110. Upon reaching which, we expect consolidation and upward pullback.
A short-term growth is possible in the range of 1.3271 - 1.3295. If the last value breaks down, it will lead to a deep correction. Here, the target is 1.3328, which is the key support for the downward structure.
The main trend is the descending structure from September 29
Trading recommendations:
Buy: 1.3271 Take profit: 1.3294
Buy : 1.3296 Take profit: 1.3328
Sell: 1.3210 Take profit: 1.3182
Sell: 1.3178 Take profit: 1.3135
The key levels for the AUD/USD pair are 0.7326, 0.7277, 0.7243, 0.7190, 0.7164, 0.7092, 0.7059 and 0.7009. The upward structure from September 25 is being followed here. At the moment, the price is in a correction. The upward movement is expected to continue after the price passes the noise range 0.7164 - 0.7190. In this case, the target is 0.724. Meanwhile, there is a short-term upward movement and consolidation in the range of 0.7243 - 0.7277. For the potential value for the top, we consider the level 0.7326. Upon reaching which, we expect a downward pullback.
A short-term decline, in turn, is expected in the range of 0.7092 - 0.7059; hence, an upward reversal is very likely. The breakdown of the last value will lead to the development of a downward trend. In this case, the first potential target is 0.7009.
The main trend is the upward structure from September 25
Trading recommendations:
Buy: 0.7164 Take profit: 0.7190
Buy: 0.7192 Take profit: 0.7243
Sell : 0.7092 Take profit : 0.7061
Sell: 0.7057 Take profit: 0.7012
The key levels for the euro/yen pair are 126.40, 125.96, 125.28, 124.88, 124.48, 124.22 and 123.80. Now, we are following the development of the rising structure from October 2. Moreover, a short-term upward movement is expected in the range of 124.88 - 125.28. If the last value breaks down, it will lead to the development of a strong movement. Our next target will be 125.96. Meanwhile, we consider the level 126.40 as a potential value for the top; upon reaching which, we expect consolidation and downward pullback.
A short-term decline is possible in the range of 124.48 - 124.22. If the last value breaks down, it will lead to a deep correction. The target here is 123.80, which is the key support for the top.
The main trend is the local upward structure of October 2
Trading recommendations:
Buy: 124.88 Take profit: 125.27
Buy: 125.30 Take profit: 125.96
Sell: 124.22 Take profit: 123.80
Sell: 123.75 Take profit: 123.00
The key levels for the pound/yen pair are 140.44, 139.31, 138.51, 137.32, 136.15, 135.39 and 134.67. Here, we are following the development of the upward cycle of September 23. Now, the pair is expected to continue rising after breaking through the level of 137.40. In this case, the target is 138.50. On the other hand, there is a short-term upward movement, as well as consolidation in the range of 138.51 - 139.31. For the potential value for the top, we consider the level 140.44; upon reaching which, a downward pullback is expected.
A short-term downward movement is expected in the range of 136.15 - 135.39. If the last value breaks down, it will lead to a deep correction. Here, the target is 134.67, which is the key support for the top.
The main trend is the medium-term upward structure of September 23
Trading recommendations:
Buy: 137.40 Take profit: 138.50
Buy: 138.55 Take profit: 139.30
Sell: 136.12 Take profit: 135.40
Sell: 135.37 Take profit: 134.70
