Forecast for May 18:
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, we monitor the formation of the initial conditions for the downward movement of May 13. At the moment, the price is in the zone of initial conditions. A 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 1.0746. 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.
A 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 target is 1.0895. For the potential level for the top, we consider 1.0922. We expect consolidation near this level.
The main trend is 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: 1.2241, 1.2183, 1.2143, 1.2026, 1.1986 and 1.1908. Here, we monitor the development of the downward structure of May 8 and currently expect to reach the level of 1.2026. Short-term downward movement, as well as consolidation is in the range of 1.2026 – 1.1986. For the potential value for the bottom, we consider the level of 1.1908. The expressed movement to which, is expected after the breakdown of the level of 1.1984.
A short-term upward movement is possible in the range of 1.2143 – 1.2183. The breakdown of the last level will lead to an in-depth correction. Here, the potential target is 1.2241. This level is a key support for the downward structure.
The main trend is the downward cycle of May 8
Trading recommendations:
- Buy: 1.2143 Take profit: 1.2181
- Buy: 1.2185 Take profit: 1.2240
- Sell: 1.2026 Take profit: 1.1986
- Sell: 1.1984 Take profit: 1.1910
For the dollar / franc pair, the key levels on the H1 scale are: 0.9810, 0.9788, 0.9772, 0.9750, 0.9720, 0.9701 and 0.9664. Here, we are following the formation of initial conditions for the upward movement of May 13. The continuation of the upward movement is expected after the breakdown of the level of 0.9750. In this case, the target is 0.9772. Short-term upward movement, as well as consolidation is in the range of 0.9772 – 0.9788. For the potential value for the top, we consider the level of 0.9810. Upon reaching this level, we expect a downward pullback.
A short-term downward movement is possible in the range of 0.9720 – 0.9701. Hence, there is a high probability of an upward reversal. The breakdown of the level of 0.9701 will lead to the development of a downward trend. In this case, the potential target is 0.9664.
The main trend is the upward structure of May 13
Trading recommendations:
- Buy : 0.9750 Take profit: 0.9786
- Buy : 0.9790 Take profit: 0.9810
- Sell: 0.9720 Take profit: 0.9702
- Sell: 0.9698 Take profit: 0.9665
For the dollar / yen pair, the key levels on the scale are : 108.09, 107.91, 107.67, 107.46, 107.15, 107.02, 106.73, 106.45, 106.08 and 105.84. Here, we are following the formation of the descending structure of May 11. At the moment, the price is in correction and has formed a small potential for the top. We expect a short-term downward movement in the range of 107.15 – 107.02. The breakdown of the last level will lead to a resumption of a downward trend. In this case, the first target is 106.73. The breakdown of which will allow us to expect movement to the level of 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. We consider the level of 105.84 to be a potential value for the bottom. Upon reaching which, we expect consolidation, as well as an upward pullback.
We expect the development of the rising structure from May 14 after the breakdown of 107.46. Here, the first goal is 107.67. Price consolidation is near this level. The breakdown of the level of 107.67 should be accompanied by a pronounced upward movement. Here, the goal is 107.91. We consider the level of 108.09 to be a potential value for the top. Upon reaching which, we expect a downward pullback.
The main trend: the descending structure of May 11, the stage of deep correction
Trading recommendations:
- Buy: 107.47 Take profit: 107.65
- Buy : 107.69 Take profit: 107.90
- Sell: 107.00 Take profit: 106.75
- Sell: 106.71 Take profit: 106.47
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 further 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.
A short-term downward movement is possible in the range of 1.4040 – 1.4006. The breakdown of the last level will lead to an in-depth correction. In this case, the target is 1.3952. This level is a key support for the top. We expect the initial conditions for the upward cycle to be formed before it.
The main trend is the upward cycle of May 11, the correction stage
Trading recommendations:
- Buy: 1.4125 Take profit: 1.4187
- Buy : 1.4191 Take profit: 1.4230
- Sell: 1.4038 Take profit: 1.4006
- Sell: 1.4003 Take profit: 1.3955
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 : 131.44, 131.07, 130.44, 129.92, 129.10, 128.38, 127.93 and 127.10. 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 129.10. In this case, the target is 128.38. Short-term downward movement, as well as consolidation is in the range 128.38 – 127.93. For the potential value for the bottom, we consider the level of 127.10. Upon reaching which, we expect consolidation, as well as an upward pullback.
A short-term upward movement is possible in the range of 129.92 – 130.44. The breakdown of the last value will lead to an in-depth correction. Here, the goal is 131.07. The range of 131.07 – 131.44 is the key support for the bottom, before it we expect the initial conditions for the upward cycle to be formed.
The main trend is the descending structure of May 11
Trading recommendations:
- Buy: 129.92 Take profit: 130.40
- Buy: 130.50 Take profit: 131.07
- Sell: 129.10 Take profit: 128.40
- Sell: 127.90 Take profit: 127.15
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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