Forecast for May 11:
Analytical review of currency pairs on the scale of H1:
For the euro / dollar pair, the key levels on the H1 scale are: 1.0945, 1.0922, 1.0886, 1.0859, 1.0824, 1.0798, 1.0766 and 1.0728. Here, the price forms the potential for the upward movement of May 7. Short-term upward movement is expected in the range of 1.0859 – 1.0886. The breakdown of the last level will lead to a pronounced movement. In this case, the target is 1.0922. For the potential value for the top, we consider the level of 1.0945. Upon reaching which, we expect consolidation, as well as a downward pullback.
A short-term downward movement is possible in the range of 1.0824 – 1.0798. The breakdown of the last level will favor the development of a downward trend from May 1. In this case, the first target is 1.0766. For the potential value for the bottom, we consider the level of 1.0728.
The main trend is the downward cycle of May 1, the formation of potential for the top
Trading recommendations:
- Buy: 1.0860 Take profit: 1.0884
- Buy: 1.0887 Take profit: 1.0920
- Sell: 1.0824 Take profit: 1.0800
- Sell: 1.0796 Take profit: 1.0766
For the pound / dollar pair, the key levels on the H1 scale are: 1.2612, 1.2557, 1.2519, 1.2463, 1.2420, 1.2352, 1.2312, 1.2264, 1.2226 and 1.2153. Here, the price forms the potential for the top of May 7 in the correction from the downward structure. We expect short-term upward movement, as well as consolidation, in the range of 1.2420 – 1.2463. The breakdown of the last level will lead to a movement to the level of 1.2519. A short-term upward movement is in the range of 1.2519 – 1.2557. For the potential value for the upward trend, we consider the level of 1.2612, from which we expect a downward pullback.
A short-term downward movement is possible in the range of 1.2352 – 1.2312. The breakdown of the last level will lead to the development of a downward trend. In this case, the first target is 1.2264. A short-term downward movement, as well as consolidation is in the range of 1.2264 – 1.2226. For the potential value for the bottom, we consider the level of 1.2153. Upon reaching which, we expect an upward pullback.
The main trend is the downward cycle of April 30, the formation of potential for the top of May 7
Trading recommendations:
- Buy: 1.2420 Take profit: 1.2460
- Buy: 1.2464 Take profit: 1.2519
- Sell: 1.2350 Take profit: 1.2314
- Sell: 1.2310 Take profit: 1.2265
For the dollar / franc pair, the key levels on the H1 scale are: 0.9819, 0.9785, 0.9758, 0.9741, 0.9709, 0.9687, 0.9660 and 0.9642. Here, the price is in the correction zone from the upward structure on May 1. Short-term downward movement is expected in the range of 0.9709 – 0.9687. Price consolidation is in this range and from here, we expect a key reversal upwards. The breakdown of the level of 0.9687 should be accompanied by the development of pronounced movement to the bottom. Here, the target is 0.9660. For the potential value for the downward trend, we consider the level of 0.9642.
A short-term upward movement is possible in the range of 0.9741 – 0.9758. The breakdown of the last level will have the subsequent development of an upward trend. Here, the first target is 0.9785. For the potential value for the top, we consider the level of 0.9819.
The main trend is the upward cycle from May 1, the correction stage
Trading recommendations:
- Buy : 0.9741 Take profit: 0.9756
- Buy : 0.9760 Take profit: 0.9785
- Sell: 0.9709 Take profit: 0.9688
- Sell: 0.9685 Take profit: 0.9662
For the dollar / yen pair, the key levels on the scale are : 107.73, 107.58, 107.33, 107.11, 106.80, 106.61 and 106.39. Here, we are following the development of the ascending structure of May 6. The continuation of the upward movement is expected after the breakdown of the level of 107.11. In this case, the target is 107.33. Price consolidation is near this level. The breakdown of the level of 107.35 will lead to a pronounced movement. In this case, the target is 107.58. For the potential value for the top, we consider the level of 107.73. Upon reaching this level, we expect consolidation, as well as a downward pullback.
A short-term downward movement is possible in the range of 106.80 – 106.61. The breakdown of the last level will lead to an in-depth correction. Here, the target is 106.39. This level is a key support for the upward structure.
Main trend: upward cycle of May 6
Trading recommendations:
- Buy: 107.11 Take profit: 107.31
- Buy : 107.35 Take profit: 107.58
- Sell: 106.80 Take profit: 106.62
- Sell: 106.59 Take profit: 106.40
For the Canadian dollar / US dollar pair, the key levels on the H1 scale are: 1.4061, 1.4009, 1.3971, 1.3917, 1.3867, 1.3786 and 1.3729. Here, the development of the upward trend has been canceled and at the moment, we are following the formation of the downward structure of May 7. Short-term downward movement is expected after the breakdown of the level of 1.3917. In this case, the target is 1.3867. Price consolidation is near this level. The breakdown of the level of 1.3865 will lead to the development of a pronounced downward movement. In this case, the target is 1.3786. We consider the level of 1.3729 to be a potential value for the downward trend. Upon reaching which, we expect consolidation, as well as a pullback to correction.
A short-term upward movement is possible in the range of 1.3971 – 1.4009. The breakdown of the last level will lead to an in-depth correction. In this case, the target is 1.4061.
The main trend is the descending structure of May 7
Trading recommendations:
- Buy: 1.3971 Take profit: 1.4006
- Buy : 1.4012 Take profit: 1.4060
- Sell: 1.3915 Take profit: 1.3870
- Sell: 1.3865 Take profit: 1.3790
For the Australian dollar / US dollar pair, the key levels on the H1 scale are : 0.6671, 0.6628, 0.6608, 0.6571, 0.6547, 0.6508, 0.6477 and 0.6435. Here, we are following the development of the ascending structure of May 7. Short-term upward movement is expected in the range of 0.6547 – 0.657. The breakdown of the last level should be accompanied by a pronounced upward movement. In this case, the target is 0.6608. Price consolidation is in the range of 0.6608 – 0.6628. For the potential value for the top, we consider the level of 0.6671. Upon reaching which, we expect a downward pullback.
A short-term downward movement is expected in the range of 0.6508 – 0.6477. The breakdown of the last level will lead to an in-depth correction. In this case, the potential target is 0. 6435. This level is a key support for the top.
The main trend is the upward structure of May 7
Trading recommendations:
- Buy: 0.6547 Take profit: 0.6570
- Buy: 0.6574 Take profit: 0.6608
- Sell : 0.6508 Take profit : 0.6480
- Sell: 0.6475 Take profit: 0.6440
For the euro / yen pair, the key levels on the H1 scale are: 117.00, 116.79, 116.42, 116.18, 115.70, 115.42, 115.06 and 114.43. Here, we are following the development of the ascending structure of May 6. Short-term upward movement is expected in the range of 116.18 – 116.42. The breakdown of the last level will allow us to expect movement to a potential target – 117.00, after which, we expect consolidation in the range of 116.79 – 117.00.
A short-term downward movement is possible in the range of 115.70 – 115.42. The breakdown of the last level will lead to an in-depth correction. Here, the goal is 115.06. This level is a key support for the top and the price passing this level will lead to the development of a downward structure. Here, the potential goal is 114.43.
The main trend is the upward structure of May 6
Trading recommendations:
- Buy: 116.18 Take profit: 116.40
- Buy: 116.43 Take profit: 116.76
- Sell: 115.70 Take profit: 115.44
- Sell: 115.40 Take profit: 115.08
For the pound / yen pair, the key levels on the H1 scale are : 134.76, 134.25, 133.46, 133.16, 132.48 and 131.54. Here, we are following the formation of the ascending structure of May 7. The continuation of the upward movement is expected after the price passes the noise range of 133.16 – 133.46. In this case, the target is 134.25. For the potential value for the top, we consider the level of 134.76. Upon reaching which, we expect consolidation, as well as a downward pullback.
A short-term downward movement is expected after the breakdown of the last level in the range of 132.48 – 132.08 to lead to an in-depth correction. Here, the goal is 131.54. This level is a key support for the top.
The main trend is the formation of the ascending structure of May 7.
Trading recommendations:
- Buy: 133.46 Take profit: 134.25
- Buy: 134.27 Take profit: 134.74
- Sell: 132.48 Take profit: 132.10
- Sell: 132.06 Take profit: 131.55
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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