Forecast for May 14:
Analytical review of currency pairs on the scale of H1:
For the euro / dollar pair, the key levels on the H1 scale are: 1.0922, 1.0895, 1.0853, 1.0831, 1.0800, 1.0778, 1.0746, 1.0723 and 1.0694. Here, the price forms the potential for the downward movement of May 13. Short-term downward movement is expected in the range of 1.0800 – 1.0778. The breakdown of the last level should be accompanied by a pronounced downward movement. Here, the target is 1.074 and price consolidation is in the range of 1.0746 – 1.0723. For the potential value for the bottom, we consider the level of 1.0694. Upon reaching which, we expect consolidation, as well as an upward pullback.
Short-term upward movement is expected in the range of 1.0831 – 1.0853. The breakdown of the last level will favor the development of an upward trend. In this case, the first goal is 1.0895. For the potential level for the top, we consider the level of 1.0922. We expect consolidation near which.
The main trend is the upward structure of May 7, the formation of potential for the bottom of May 13
Trading recommendations:
- Buy: 1.0831 Take profit: 1.0850
- Buy: 1.0856 Take profit: 1.0895
- Sell: 1.0800 Take profit: 1.0780
- Sell: 1.0776 Take profit: 1.0746
For the pound / dollar pair, the key levels on the H1 scale are: 1.2372, 1.2302, 1.2258, 1.2143, 1.2093, 1.2026 and 1.1986. Here, we monitor the development of the downward structure of May 8 and currently expect movement to the level of 1.2143. Short-term downward movement, as well as consolidation is in the range of 1.2143 – 1.2093. For the potential value for the bottom, we consider the level of 1.1986. The expressed movement towards which is expected after the breakdown of the level of 1.2093. Price consolidation is in the range of 1.1986 – 1.2026.
A short-term upward movement is possible in the range of 1.2258 – 1.2302. The breakdown of the last value will lead to an in-depth correction. Here, the potential target is 1.2372. This level is a key support for the downward structure.
The main trend is the downward cycle of May 8
Trading recommendations:
- Buy: 1.2258 Take profit: 1.2300
- Buy: 1.2304 Take profit: 1.2370
- Sell: 1.2143 Take profit: 1.2098
- Sell: 1.2090 Take profit: 1.2026
For the dollar / franc pair, the key levels on the H1 scale are: 0.9758, 0.9729, 0.9705, 0.9660, 0.9642, 0.9600 and 0.9573. Here, we are following the descending structure of May 7. At the moment, the price is in correction. The continuation of the downward movement is expected after the price passes the noise range 0.9660 – 0.9642. In this case, the target is 0.9600. For the potential value for the bottom, we consider the level of 0.9573. Upon reaching this level, we expect consolidation, as well as an upward pullback.
Consolidated movement is possible in the range of 0.9705 – 0.9729. The breakdown of the last level will lead to an in-depth correction. Here, the target is 0.9758. This level is a key support for the downward trend.
The main trend is the descending structure of May 7, the correction stage
Trading recommendations:
- Buy : 0.9732 Take profit: 0.9756
- Buy : 0.9760 Take profit: 0.9785
- Sell: 0.9640 Take profit: 0.9606
- Sell: 0.9598 Take profit: 0.9575
For the dollar / yen pair, the key levels on the scale are : 107.41, 107.21, 107.03, 106.73, 106.45, 106.08 and 105.84. Here, we are following the formation of the descending structure of May 11. The continuation of the downward movement is expected after the breakdown of the level of 106.73. In this case, the target is 106.45. Price consolidation is near this level. The breakdown of the level of 106.45 should be accompanied by a pronounced downward movement. Here, the goal is 106.08. For the potential value for the bottom, we consider the level of 105.84. Upon reaching which, we expect consolidation, as well as an upward pullback.
A short-term upward movement is possible in the range of 107.03 – 107.21. The breakdown of the last value will lead to an in-depth correction. Here, the goal is 107.41. This level is a key support for the downward structure.
The main trend: the descending structure of May 11
Trading recommendations:
- Buy: 107.03 Take profit: 107.20
- Buy : 107.23 Take profit: 107.40
- Sell: 106.70 Take profit: 106.47
- Sell: 106.43 Take profit: 106.10
For the Canadian dollar / US dollar pair, the key levels on the H1 scale are: 1.4292, 1.4234, 1.4189, 1.4124, 1.4071, 1.4040, 1.4006 and 1.3952. Here, we are following the development of the upward cycle of May 11. The continuation of the upward movement is expected after the breakdown of the level of 1.4124. In this case, the target is 1.4189. The breakdown of which, in turn, will allow us to count on movement to 1.4234. Price consolidation is near this level. For the potential value for the top, we consider the level of 1.4292. Upon reaching which, we expect a downward pullback.
Short-term downward movement is possible in the range of 1.4071 – 1.4040. The breakdown of the last level will lead to an in-depth correction. In this case, the target is 1.4006. This level is a key support for the top.
The main trend is the upward cycle of May 11
Trading recommendations:
- Buy: 1.4125 Take profit: 1.4187
- Buy : 1.4191 Take profit: 1.4230
- Sell: 1.4070 Take profit: 1.4042
- Sell: 1.4038 Take profit: 1.4006
For the Australian dollar / US dollar pair, the key levels on the H1 scale are : 0.6561, 0.6521, 0.6485, 0.6456, 0.6420, 0.6386, 0.6362, 0.6326 and 0.6303. Here, we are following the development of the descending structure of May 11. The continuation of the downward movement is expected after the breakdown of the level of 0.6420. In this case, the target is 0.6386. Price consolidation is in the range of 0.6386 – 0.6362. The breakdown of the level of 0.6362 will lead to a pronounced movement. Here, the target is 0.6326. For the potential value for the bottom, we consider the level of 0.6303. Upon reaching which, we expect consolidation, as well as an upward pullback.
Short-term upward movement is possible in the range of 0.6456 – 0.6485. The breakdown of the last level will lead to an in-depth correction. Here, the target is 0.6521. This level is a key support for the downward structure and the price passing this will lead to the formation of initial conditions for the upward cycle. In this case, the potential goal is 0.6561.
The main trend is the descending structure of May 11
Trading recommendations:
- Buy: 0.6456 Take profit: 0.6483
- Buy: 0.6486 Take profit: 0.6520
- Sell : 0.6420 Take profit : 0.6386
- Sell: 0.6360 Take profit: 0.6326
For the euro / yen pair, the key levels on the H1 scale are: 117.81, 117.49, 117.00, 116.79, 116.20, 115.85, 115.42, 115.18 and 114.43. Here, the price is close to the cancellation of the ascending structure from May 6, which requires passage of the noise range 115.42 – 115.18. In this case, the potential target is 114.43.
A short-term upward movement is possible in the range of 115.85 – 116.20. The breakdown of the last level will have the subsequent development of an upward trend. Here, the goal is 116.79. The price passing the noise range of 116.79 – 117.00 will lead to movement to the level of 117.49. For the potential value for the top, we consider the level of 117.81. Upon reaching which, we expect consolidation, as well as a downward pullback.
The main trend is the upward structure of May 6, the stage of deep correction
Trading recommendations:
- Buy: 115.85 Take profit: 116.20
- Buy: 117.00 Take profit: 117.47
- Sell: 115.15 Take profit: 114.50
- Sell: Take profit:
For the pound / yen pair, the key levels on the H1 scale are : 132.18, 131.58, 131.07, 130.30, 129.67, 129.10, 128.38 and 127.93. Here, we are following the development of the descending structure of May 11. The continuation of the downward movement is expected after the breakdown of the level of 130.30. In this case, the target is 129.67.
Short-term downward movement, as well as consolidation is in the range of 129.67 – 129.10. The breakdown of level 129.10 should be accompanied by a pronounced downward movement. Here, the goal is 128.38. For the potential value for the bottom, we consider the level of 127.93. Upon reaching which, we expect consolidation, as well as an upward pullback.
A short-term upward movement is possible in the range of 131.07 – 131.58. The breakdown of the last level will lead to an in-depth correction. Here, the goal is 132.18. This level is a key support for the bottom.
The main trend is the descending structure of May 11
Trading recommendations:
- Buy: 131.07 Take profit: 131.55
- Buy: 131.60 Take profit: 132.16
- Sell: 130.30 Take profit: 129.70
- Sell: 129.65 Take profit: 129.12
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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