Dear colleagues,
For the euro / dollar pair, we are following the development of the downward structure of January 6. The level of 1.1087 is the key resistance. For the pound / dollar pair, subsequent targets on the H1 scale are determined from the descending structure on December 31. For the dollar / franc pair, the price forms a local upward structure from January 8. The level of 0.9751 is the key resistance. For the dollar / yen pair, the price forms expressed initial conditions for the top of January 8. The development of this structure is expected after the breakdown of the level of 109.81. For the euro / yen pair, the price canceled the development of the downward structure and currently forms the potential for the top of January 8. For the pound / yen pair, we consider the upward structure on January 3 as the main one. The level of 143.68 is the key resistance.
Forecast for January 9:
Analytical review of currency pairs on the scale of H1:
For the euro / dollar pair, the key levels on the H1 scale are: 1.1177, 1.1151, 1.1132, 1.1087, 1.1058, 1.1031 and 1.1015. Here, we continue to monitor the local descending structure of January 6. The continuation of the downward movement is expected after the breakdown of the level of 1.1087. In this case, the target is 1.1058. Price consolidation is near this level. The breakdown of the level of 1.1056 will lead to movement to a potential target - 1.1015. In turn, price consolidation is in the range of 1.1015 - 1.1031 and from here, we expect a upward rollback.
Short-term upward movement is possible in the range of 1.1132 - 1.1151. The breakdown of the latter value will lead to an in-depth correction. Here, the goal is 1.1177. This level is a key support for the downward structure.
The main trend is the local descending structure of January 6
Trading recommendations:
Buy: 1.1132 Take profit: 1.1150
Buy: 1.1153 Take profit: 1.1175
Sell: 1.1085 Take profit: 1.1060
Sell: 1.1056 Take profit: 1.1034
For the pound / dollar pair, the key levels on the H1 scale are: 1.3178, 1.3113, 1.3073, 1.3006, 1.2937, 1.2874 and 1.2838. Here, we consider the descending cycle of December 31 as the main structure. We expect further downward movement after a breakdown of the level of 1.3006. In this case, the target is 1.2937. Price consolidation is near this level. Its breakdown will lead to a movement to a potential target - 1.2838. Price consolidation is in the range of 1.2838 - 1.2874 and from here, we expect a correction.
Short-term upward movement is possible in the range of 1.3073 - 1.3113. The breakdown of the latter value will lead to an in-depth correction. Here, the target is 1.3178. This level is a key support for the descending structure of December 31.
The main trend is the descending structure of December 31
Trading recommendations:
Buy: 1.3073 Take profit: 1.3111
Buy: 1.3120 Take profit: 1.3175
Sell: 1.3005 Take profit: 1.2940
Sell: 1.2935 Take profit: 1.2875
For the dollar / franc pair, the key levels on the H1 scale are: 0.9832, 0.9810, 0.9778, 0.9751, 0.9706, 0.9685 and 0.9664. Here, we determine the next goals from the local ascending structure on January 8. We expect further upward movement after the breakdown of the level of 0.9751. In this case, the target is 0.9778. Price consolidation is near this level. The breakdown of the level of 0.9780 will lead to a pronounced movement. Here, the target is 0.9810. The potential value for the top is the level of 0.9832. Upon reaching which, we expect consolidation, as well as a downward rollback.
Short-term downward movement is possible in the range of 0.9706 - 0.9685. There is a high probability of a turn up from this range. The breakdown of the level of 0.9685 will lead to the development of a downward structure. Here, the first potential target is 0.9664.
The main trend is the local ascending structure of January 8
Trading recommendations:
Buy : 0.9751 Take profit: 0.9775
Buy : 0.9780 Take profit: 0.9810
Sell: 0.9705 Take profit: 0.9688
Sell: 0.9683 Take profit: 0.9664
For the dollar / yen pair, the key levels on the scale are : 110.78, 110.39, 109.81, 109.58, 109.14, 108.86 and 108.46. Here, we are following the formation of a pronounced ascending structure of January 8. We expect short-term upward movement in the range of 109.58 - 109.81. The breakdown of the last value should be accompanied by an impulsive movement to the level of 110.39. Price consolidation is near this level. We consider the level 110.78 to be a potential value for the top, from which we expect a downward rollback.
A short-term downward movement is possible in the range 109.14 - 108.86. The breakdown of the last value will lead to an in-depth correction. Here, the target is 108.46. This level is a key support for the top.
The main trend: building potential for the top of January 8.
Trading recommendations:
Buy: 109.58 Take profit: 109.80
Buy : 109.83 Take profit: 110.30
Sell: 109.14 Take profit: 108.88
Sell: 108.82 Take profit: 108.50
For the Canadian dollar / US dollar pair, the key levels on the H1 scale are: 1.3157, 1.3126, 1.3112, 1.3090, 1.3062, 1.3040 and 1.3015. Here, we are following the development of the upward cycle of January 7. We expect further upward movement after the breakdown of the level of 1.3090. In this case, the target is 1.3112. Price consolidation is in the range of 1.3112 - 1.3126. We consider the level of 1.3157 to be a potential value for the top; upon reaching this level, we expect a downward rollback.
A short-term downward movement is possible in the range of 1.3062 - 1.3040. The breakdown of the last value will lead to an in-depth correction. Here, the target is 1.3015. This level is a key support for the top.
The main trend is the upward cycle of January 7
Trading recommendations:
Buy: 1.3090 Take profit: 1.3112
Buy : 1.3126 Take profit: 1.3155
Sell: 1.3062 Take profit: 1.3042
Sell: 1.3038 Take profit: 1.3015
For the Australian dollar / US dollar pair, the key levels on the H1 scale are : 0.6926, 0.6893, 0.6875, 0.6851, 0.6827, 0.6793 and 0.6770. Here, we continue to monitor the development of the downward cycle of December 31. We expect a short-term downward movement in the range 0.6851 - 0.6827. The breakdown of the last value should be accompanied by a pronounced downward movement. In this case, the target is 0.6793. We consider the level of 0.6770 to be a potential value for the bottom; upon reaching this level, we expect consolidation, as well as an upward rollback.
We expect short-term upward movement in the range 0.6875 - 0.6893. The breakdown of the latter value will lead to an in-depth correction. Here, the target is 0.6926. This level is a key support for the downward structure from December 31.
The main trend is the descending structure of December 31
Trading recommendations:
Buy: 0.6875 Take profit: 0.6890
Buy: 0.6895 Take profit: 0.6922
Sell : 0.6850 Take profit : 0.6830
Sell: 0.6825 Take profit: 0.6795
For the euro / yen pair, the key levels on the H1 scale are: 122.61, 122.30, 121.82, 121.30, 121.06 and 120.71. Here, we are following the formation of the initial conditions for the upward cycle of January 8. We expect the continuation of the upward movement after the breakdown of the level of 121.82. In this case, the target is 122.30. For now, we consider the level of 122.61 to be a potential value for the upward trend; upon reaching this level, we expect consolidation.
Short-term downward movement is possible in the range of 121.30 - 121.06. The breakdown of the last value will lead to an in-depth correction. Here, the goal is 120.71. This level is a key support for the upward structure.
The main trend is the formation of initial conditions for the top of January 8
Trading recommendations:
Buy: 121.82 Take profit: 122.26
Buy: 121.32 Take profit: 122.60
Sell: 121.30 Take profit: 121.08
Sell: 121.04 Take profit: 120.76
For the pound / yen pair, the key levels on the H1 scale are : 145.11, 144.53, 143.68, 142.34, 141.87, 141.31 and 140.66. Here, we are following the development of the upward structure of January 3, after the abolition of the downward trend. We expect further upward movement after the passage at the price level of 143.70. In this case, the target is 144.53. Price consolidation is near this value. The potential level for the top is considered to be the level of 145.11, from which we expect a downward rollback.
Short-term downward movement is possible in the range of 142.34 - 141.87. The breakdown of the latter value will lead to an in-depth correction. Here, the goal is 141.31. This level is a key support for the upward structure.
The main trend is the upward structure of January 3
Trading recommendations:
Buy: 143.70 Take profit: 144.50
Buy: 144.55 Take profit: 145.10
Sell: 142.34 Take profit: 141.90
Sell: 141.85 Take profit: 141.35
