Forecast for February 10:
Analytical review of currency pairs on the scale of H1:
For the euro / dollar pair, the key levels on the H1 scale are: 1.1015, 1.0988, 1.0969, 1.0938, 1.0909 and 1.0889. Here, we are following the development of the descending structure of January 31. The continuation of the movement to the bottom is expected after the breakdown of the level of 1.0938. In this case, the target is 1.090. Price consolidation is near this level. For the potential value for the bottom, we consider the level of 1.0889. After which, we expect a correction.
Short-term upward movement is possibly in the range 1.0969 – 1.0988. The breakdown of the latter value will lead to an in-depth correction. Here, the target is 1.1015. This level is a key support for the downward structure.
The main trend is the descending structure of January 31
Trading recommendations:
- Buy: 1.0969 Take profit: 1.0987
- Buy: 1.0989 Take profit: 1.1015
- Sell: 1.0936 Take profit: 1.0910
- Sell: 1.0908 Take profit: 1.0890
For the pound / dollar pair, the key levels on the H1 scale are: 1.3070, 1.3013, 1.2970, 1.2932, 1.2889, 1.2847 and 1.2754. Here, we are following the development of the descending structure of January 31. Short-term downward movement is expected in the range of 1.2889 – 1.2847. The breakdown of the last value should be accompanied by a pronounced movement to the bottom. In this case, the potential target is 1.2754. We expect consolidation, as well as a pullback to the top near this level.
Short-term upward movement is possibly in the range of 1.2970 – 1.3013. The breakdown of the latter value will lead to an in-depth correction. Here, the target is 1.3070. This level is a key support for the downward structure.
The main trend is the descending structure of January 31
Trading recommendations:
- Buy: 1.2970 Take profit: 1.3011
- Buy: 1.3015 Take profit: 1.3070
- Sell: 1.2889 Take profit: 1.2848
- Sell: 1.2845 Take profit: 1.2756
For the dollar / franc pair, the key levels on the H1 scale are: 0.9858, 0.9826, 0.9810, 0.9781, 0.9759, 0.9744 and 0.9719. Here, we are following the development of the ascending structure of January 31. The continuation of the movement to the top is expected after the breakdown of the level of 0.9781. In this case, the target is 0.9810. Price consolidation is in the range of 0.9810 – 0.9826. For the potential value for the top, we consider the level of 0.9858. We expect a pullback to the bottom upon reaching this level.
Short-term downward movement is possibly in the range of 0.9759 – 0.9744. The breakdown of the latter value will lead to an in-depth correction. Here, the target is 0.9719. This level is a key support for the upward structure.
The main trend is the upward cycle of January 31
Trading recommendations:
- Buy : 0.9782 Take profit: 0.9810
- Buy : 0.9826 Take profit: 0.9858
- Sell: 0.9759 Take profit: 0.9745
- Sell: 0.9742 Take profit: 0.9720
For the dollar / yen pair, the key levels on the scale are : 110.80, 110.47, 109.99, 109.62, 109.41 and 109.07. Here, we are following the development of the ascending structure of January 31. The continuation of the movement to the top is expected after the breakdown of the level of 110.00. In this case, the target is 110.47. Price consolidation is near this level. For the potential value for the top, we consider the level 110.80. Upon reaching which, we expect a pullback to the bottom.
Short-term downward movement is possibly in the range of 109.62 – 109.41. The breakdown of the last value will lead to an in-depth correction. Here, the goal is 109.07. This level is a key support for the top.
Main trend: upward structure of January 31
Trading recommendations:
- Buy: 110.00 Take profit: 110.45
- Buy : 110.49 Take profit: 110.80
- Sell: 109.60 Take profit: 109.42
- Sell: 109.38 Take profit: 109.10
For the Canadian dollar / US dollar pair, the key levels on the H1 scale are: 1.3389, 1.3337, 1.3312, 1.3271, 1.3240 and 1.3195. Here, we are following the development of the upward cycle of January 22. Short-term upward movement is expected in the range of 1.3312 – 1.3337. Hence, there is a high probability of a turn to the bottom. For the potential value for the top, we consider the level of 1.3389. We expect movement to this level after the breakdown of the level of 1.3337.
Short-term downward movement is possibly in the range of 1.3271 – 1.3240. The breakdown of the last value will lead to an in-depth correction. Here, the target is 1.3195. This level is a key support for the top.
The main trend is the local ascending structure of January 22
Trading recommendations:
- Buy: 1.3313 Take profit: 1.3335
- Buy : 1.3337 Take profit: 1.3387
- Sell: 1.3370 Take profit: 1.3242
- Sell: 1.3238 Take profit: 1.3195
For the Australian dollar / US dollar pair, the key levels on the H1 scale are : 0.6731, 0.6707, 0.6688, 0.6654, 0.6618, 0.6574, 0.6545 and 0.6505. Here, we are following the formation of the descending structure of February 5. The continuation of movement to the bottom is expected after the breakdown of the level of 0.6654. In this case, the target is 0.6618. Price consolidation is near this level.
The breakdown of the level of 0.6618 will lead to the development of pronounced movement. Here, the target is 0.6574. Short-term downward movement, as well as consolidation is in the range of 0.6574 – 0.6545. For the potential value for the bottom, we consider the level of 0.6505. Upon reaching which, we expect a pullback to the top.
Short-term upward movement is possibly in the range of 0.6688 – 0.6707. The breakdown of the latter value will lead to an in-depth correction. Here, the target is 0.6731. This level is a key support for the downward structure.
The main trend is the descending structure of February 5
Trading recommendations:
- Buy: 0.6688 Take profit: 0.6706
- Buy: 0.6708 Take profit: 0.6730
- Sell : 0.6654 Take profit : 0.6620
- Sell: 0.6616 Take profit: 0.6576
For the euro / yen pair, the key levels on the H1 scale are: 120.72, 120.45, 120.21, 119.91, 119.75, 119.38 and 119.12. Here, we are following the formation of the descending structure of February 5. The continuation of movement to the bottom is expected after the price passes the noise range 119.91 – 119.75. In this case, the target is 119.38. For the potential value for the bottom, we consider the level of 119.12. Upon reaching this value, we expect consolidation, as well as a rollback to the top.
Short-term downward movement is possibly in the range of 120.21 – 120.45. The breakdown of the last value will lead to an in-depth correction. Here, the goal is 120.72. This level is a key support for the downward structure.
The main trend is the descending structure of February 5
Trading recommendations:
- Buy: 120.21 Take profit: 120.43
- Buy: 120.47 Take profit: 120.70
- Sell: 119.75 Take profit: 119.40
- Sell: 119.36 Take profit: 119.12
For the pound / yen pair, the key levels on the H1 scale are : 142.42, 141.87, 141.55, 140.97, 140.62, 140.10 and 139.81. Here, we are following the development of the descending structure of February 5. Short-term downward movement is expected in the range of 140.97 – 140.62. The breakdown of the last value should be accompanied by a pronounced downward movement. Here, the target is 140.10. For the potential value for the bottom, we consider the level of 139.81. Upon reaching which, we expect consolidation, as well as a rollback to the top.
Short-term upward movement is possibly in the range of 141.55 – 141.87. The breakdown of the latter value will lead to an in-depth correction. Here, the goal is 142.42. This level is key support for the descending structure of February 5.
The main trend is the descending structure of February 5
Trading recommendations:
- Buy: 141.55 Take profit: 141.85
- Buy: 141.90 Take profit: 142.40
- Sell: 140.95 Take profit: 140.65
- Sell: 140.58 Take profit: 140.10
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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