Forecast for May 5 :
Analytical review of currency pairs on the scale of H1:
For the euro / dollar pair, the key levels on the H1 scale are: 1.1134, 1.1074, 1.1046, 1.0999, 1.0952, 1.0913, 1.0887, 1.0859 and 1.0807. Here, we continue to monitor the development of the ascending structure of April 24. At the moment, the price is in correction. The resumption of the upward movement is possible after breaking through the level of 1.0952. In this case, the first target is 1.0999.
The breakdown of which, in turn, will continue to develop the main trend on the H1 scale. In this case, the target 1.1046. Price consolidation is in the range of 1.1046 – 1.1074. For the potential value for the top, we consider the level of 1.1134. The movement to which is expected after the breakdown of the level of 1.1076.
A consolidated movement is possible in the range of 1.0913 – 1.0887. The breakdown of the last level will lead to an in-depth correction. Here, the target is 1.0859. This level is a key support for the top and its breakdown will lead to the development of a downward structure. In this case, the target is 1.0807. We are waiting for the initial conditions for the downward cycle to this level.
The main trend is the upward cycle of April 24, the correction stage.
Trading recommendations:
- Buy: 1.0952 Take profit: 1.0994
- Buy: 1.1000 Take profit: 1.1046
- Sell: 1.0885 Take profit: 1.0862
- Sell: 1.0857 Take profit: 1.0810
For the pound / dollar pair, the key levels on the H1 scale are: 1.2560, 1.2519, 1.2484, 1.2419, 1.2364, 1.2333 and 1.2264. Here, we are following the formation of the descending structure of April 30. The continuation of the downward movement is expected after the breakdown of the level of 1.2419. In this case, the target is 1.2364. Price consolidation is in the range of 1.2364 – 1.2333. For the potential value for the bottom, we consider the level of 1.2264. Upon reaching which, we expect a downward pullback.
A short-term upward movement is possible in the range of 1.2484 – 1.2519. The breakdown of the last level will lead to an in-depth correction. Here, the target is 1.2560. This level is a key support for the downward structure.
The main trend is the formation of the downward structure of April 30
Trading recommendations:
- Buy: 1.2484 Take profit: 1.2517
- Buy: 1.2521 Take profit: 1.2560
- Sell: 1.2419 Take profit: 1.2366
- Sell: 1.2333 Take profit: 1.2270
For the dollar / franc pair, the key levels on the H1 scale are: 0.9690, 0.9661, 0.9642, 0.9609, 0.9593 and 0.9559. Here, we are following the development of the descending structure of April 28. At the moment, the price is in correction and forms a small potential for the top. 0.9559. Here, we are following the development of the descending structure of April 28. A short-term downward movement is expected in the range of 0.9609 – 0.9593. The breakdown of the last level will lead to a pronounced downward movement. Here, the potential target is 0.9559. Upon reaching which, we expect consolidation, as well as an upward pullback.
A consolidated movement is possible in the range of 0.9642 – 0.9661. The breakdown of the last level will lead to an in-depth correction. Here, the target is 0.9690. This level is a key support for the downward structure.
The main trend is the descending structure of April 28
Trading recommendations:
- Buy : 0.9663 Take profit: 0.9686
- Buy : 0.9690 Take profit: 0.9720
- Sell: 0.969 Take profit: 0.9594
- Sell: 0.9590 Take profit: 0.9562
For the dollar / yen pair, the key levels on the scale are : 107.35, 107.08, 106.89, 106.72, 106.47, 106.30, 106.00, 105.80 and 105.52. Here, we are following the formation of the descending structure of April 30. Short-term downward movement is expected in the range of 106.47 – 106.30. The breakdown of the last level should be accompanied by a pronounced downward movement. Here, the target is 106.00. Price consolidation is in the range of 106.00 – 105.80. For the potential value for the bottom, we consider the level of 105.52. Upon reaching which, we expect an upward pullback.
A short-term upward movement is possible in the range of 106.72 – 106.89. The breakdown of the last level will lead to an in-depth correction. Here, the goal is 107.08. This level is a key support for the bottom.
The main trend is the formation of the downward structure of April 30
Trading recommendations:
- Buy: 106.72 Take profit: 106.88
- Buy : 106.90 Take profit: 107.07
- Sell: 106.47 Take profit: 106.31
- Sell: 106.28 Take profit: 106.00
For the Canadian dollar / US dollar pair, the key levels on the H1 scale are: 1.4341, 1.4304, 1.4235, 1.4159, 1.4112, 1.4052, 1.3997 and 1.3949. Here, we are following the formation of the ascending structure of April 30. Short-term upward movement is expected in the range of 1.4112 – 1.4159. The breakdown of the last level should be accompanied by a pronounced upward movement. Here, the target is 1.4235. Price consolidation is near this level. The breakdown of the level of 1.4235 will lead to movement to a potential target – 1.4341. Upon reaching which, we expect consolidation in the range of 1.4304 – 1.4341, as well as a downward pullback.
A short-term downward movement is expected in the range of 1.4042 – 1.3997. The breakdown of the last level will lead to an in-depth correction. Here, the target is 1.3949. This level is a key support for the top and its breakdown will lead to the cancellation of the upward structure from April 30.
The main trend is the upward structure of April 30
Trading recommendations:
- Buy: 1.4112 Take profit: 1.4157
- Buy : 1.4160 Take profit: 1.4230
- Sell: 1.4050 Take profit: 1.4000
- Sell: 1.3995 Take profit: 1.3952
For the Australian dollar / US dollar pair, the key levels on the H1 scale are : 0.6487, 0.6446, 0.6413, 0.6368, 0.6337, 0.6299, 0.6254 and 0.6224. Here, we are following the development of the descending structure of April 30. Short-term downward movement is expected in the range of 0.6368 – 0.6337. The breakdown of the last level will lead to a movement to the level of 0.6299. We expect consolidation near this level. The breakdown of the level of 0.6297 should be accompanied by a pronounced downward movement. Here, the target is 0.6254. For the potential value for the bottom, we consider the level of 0.6224. Upon reaching which, we expect consolidation, as well as an upward pullback.
A short-term upward movement is expected in the range of 0.6446 – 0.6487. The breakdown of the last level will lead to the formation of initial conditions for the upward cycle. In this case, the potential target is 0.6571.
The main trend is the downward structure of April 30
Trading recommendations:
- Buy: 0.6450 Take profit: 0.6486
- Buy: 0.6490 Take profit: 0.6530
- Sell : 0.6368 Take profit : 0.6338
- Sell: 0.6335 Take profit: 0.6300
For the euro / yen pair, the key levels on the H1 scale are: 119.82, 119.25, 118.43, 117.74, 117.27, 116.54, 116.26, 115.90 and 115.43. Here, we are following the formation of the initial conditions for the top of April 29. Short-term upward movement is possible in the range of 117.27 – 117.74. The breakdown of the last level will lead to the development of an upward cycle. In this case, the first target is 118.43. Price consolidation is near this level. The pronounced upward movement is expected after the breakdown of the level of 118.45. Here, the target is 119.25. We consider the level of 119.82 as a potential goal, after which we expect a downward pullback.
A short-term downward movement is possible in the range of 116.26 – 115.90. This range is a key support for the upward structure and its breakdown will lead to the development of a downward movement. In this case, the first goal is 115.43.
The main trend is the formation of initial conditions for the top of April 29, the stage of deep correction
Trading recommendations:
- Buy: 117.28 Take profit: 117.72
- Buy: 117.76 Take profit: 118.40
- Sell: 116.24 Take profit: 115.92
- Sell: 115.88 Take profit: 115.45
For the pound / yen pair, the key levels on the H1 scale are : 134.33, 133.77, 133.39, 132.52, 132.02, 131.43, 131.05 and 130.32. Here, we are following the formation of the initial conditions for the top of April 29. A short-term upward movement is expected in the range of 133.81 – 134.33. The breakdown of the last level will have the development of an upward trend.
In this case, the first goal is 135.46. For the potential value for the top, we consider the level of 136.39. Upon reaching which, we expect consolidation. The level of 132.52 is a key support for the top and its breakdown will lead to the development of a downward structure from April 30. In this case, the first potential target is 131.84.
The main trend is the formation of initial conditions for the top of April 29, the stage of deep correction
Trading recommendations:
- Buy: 133.81 Take profit: 134.30
- Buy: 134.40 Take profit: 135.40
- Sell: 132.52 Take profit: 131.90
- Sell: Take profit:
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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