Dear colleagues.
For the EUR / USD pair, we expect the movement towards the level of 1.1723. For the GBP / USD pair, the price forms a local structure for the top of December 7. The development of this level is expected after the breakdown of 1.3487. For the USD / CHF pair, the continued development of the upward cycle from December 1 is expected after the breakdown of 0.9970. For the USD / JPY pair, the continuation of the upward movement is expected after passing the price of the noise range of 113.49 - 113.79. For the EUR / JPY pair, we expect the movement towards the level of 134.00. For the of GBP / JPY pair, the price forms a local structure for the top of December 6.
Forecast for December 8:
Analytical review of currency pairs in the scale of H1:
For the EUR / USD pair, the key levels on the scale of H1 are: 1.1857, 1.1817, 1.1793, 1.1723, 1.1688 and 1.1639. Here, we continue to follow the downward cycle from December 7. At the moment, we expect the movement towards the level of 1.1723. In the area of 1.1723 - 1.1688 is short-term downward movement as well as the consolidation of the price. The breakdown of the level of 1.1688 will allow us to count on the movement towards the potential target of 1.1639, upon reaching which we expect a departure to correction.
Short-term upward movement is possible in the area of 1.1793-1.1817. The breakdown of the last value will lead to in-depth correction. Here, the target is 1.1855. This level is the key support for the downward structure. Passing the price will lead to the formation of an upward structure. Here, the target is 1.1909.
The main trend is the downward cycle from November 27.
Trading recommendations:
Buy: 1.1793 Take profit: 1.1815
Buy: 1.1820 Take profit: 1.1855
Sell: 1.1720 Take profit: 1.1690
Sell: 1.1685 Take profit: 1.1640
For the GBP / USD pair, the key levels on the scale of H1 are: 1.3620, 1.3555, 1.3487, 1.3451, 1.3367, 1.3315 and 1.3279. Here, the price is close to the cancellation of the downward structure from December 1 which requires a breakdown at 1.3490. In this case, the first target is 1.3555. Up to this level, we expect the formation of a pronounced structure. Continued downward movement is expected after the breakdown of 1.3365. In this case, the target is 1.3315. In the area of 1.3315 - 1.3279 is the consolidation of the price.
The main trend is the downward structure from December 1, the correction stage.
Trading recommendations:
Buy: 1.3490 Take profit: 1.3555
Buy: 1.3557 Take profit: 1.3620
Sell: 1.3365 Take profit: 1.3315
Sell: Take profit:
For the USD / CHF pair, the key levels on the scale of H1 are: 1.0034, 1.0011, 0.9970, 0.9937, 0.9917, 0.9891 and 0.9854. Here, the continuation of the development of the upward cycle from December 1 is expected after the breakdown of 0.9970. In this case, the target is 1.0011. The potential value for the top is the level of 1.0034, after reaching which, we expect a consolidated movement in the area of 1.0011 - 1.0034.
Short-term downward movement is possible in the area of 0.9937 - 0.9917. The breakdown of the last value will lead to in-depth correction. Here, the target is 0.9891. This level is the key support for the top.
The main trend is the upward structure of December 1.
Trading recommendations:
Buy: 0.9972 Take profit: 1.0010
Buy: 1.0012 Take profit: 1.0032
Sell: 0.9935 Take profit: 0.9918
Sell: 0.9915 Take profit: 0.9895
For the USD / JPY pair, the key levels on the scale are: 114.83, 114.21, 113.79, 113.49, 112.93, 112.58 and 112.05. Here, we continue to follow the upward structure of November 27. The continuation of the upward movement is expected after passing the price of the noise range of 113.49 - 113.79. In this case, the target is 114.21. Near this level is the consolidation of the price. The potential value for the top is the level of 114.83, upon reaching which we expect a pullback downwards.
Short-term downward movement is possible in the area of 112.93 - 112.58. The breakdown of the last value will lead to in-depth movement. Here, the target is 112.05. This level is the key support for the top.
The main trend is the upward cycle of November 27.
Trading recommendations:
Buy: 113.80 Take profit: 114.20
Buy: 114.25 Take profit: 114.80
Sell: 112.90 Take profit: 112.60
Sell: 112.55 Take profit: 112.10
For the CAD / USD pair, the key levels on the H1 scale are: 1.3053, 1.2988, 1.2939, 1.2878, 1.2806, 1.2767 and 1.2716. Here, we follow the upward structure of December 5. Continued upward movement is expected after the breakdown of 1.2878. In this case, the target is 1.2939. In the area of 1.2939 - 1.2988 is the consolidation of the price. The potential value for the top is the level of 1.3053, after reaching which, we expect a pullback downwards.
Short-term downward movement is possible in the area of 1.2806 - 1.2767. The breakdown of the last value will lead to in-depth movement. Here, the target is 1.2716. This level is the key support for the top.
The main trend is the formation of the upward structure of December 5.
Trading recommendations:
Buy: 1.2878 Take profit: 1.2936
Buy: 1.2942 Take profit: 1.2986
Sell: 1.2804 Take profit: 1.2770
Sell: 1.2765 Take profit: 1.2718
For the AUD / USD pair, the key levels on the scale of H1 are: 0.7572, 0.7545, 0.7527, 0.7513, 0.7491, 0.7462, 0.7448 and 0.7412. Here, we continue to follow the downward structure of December 5. Continued downward movement is expected after the breakdown of 0.7490. In this case, the target is 0.7462. In the area of 0.7462 - 0.7448 is the consolidation of the price. The potential value for the bottom is the level of 0.7412. The movement towards this level is expected after the breakdown of 0.7445.
The short-term upward movement is possible in the area of 0.7513-0.7527. The breakdown of the last value will lead to in-depth correction. Here, the target is 0.7545. This level is the key support for the downward structure. The breakdown of the latter value will lead to the formation of an upward structure. Here, the target is 0.7572.
The main trend is the downward structure of December 5.
Trading recommendations:
Buy: 0.7513 Take profit: 0.7525
Buy: 0.7529 Take profit: 0.7545
Sell: 0.7490 Take profit: 0.7465
Sell: 0.7445 Take profit: 0.7418
For the EUR / JPY pair, the key levels on the scale of H1 are: 136.34, 135.29, 134.75, 134.01, 133.30, 132.47, 131.98 and 131.19. Here, we continue to follow the upward structure of November 23. At the moment, we expect a movement towards the level of 134.00. The breakdown of this level will allow us to count on the movement towards the level of 134.75. In the area of of 134.75 - 135.29 is the consolidation of the price. The potential value for the top is the level of 136.34. The movement towards this level is expected after the breakdown at 135.30.
The range of 132.47 - 131.98 is the key support for the top. Passing the price will lead to the development of a downward trend in the scale of H1. In this case, the target is 131.19.
The main trend is the upward structure of November 23.
Trading recommendations:
Buy: 133.30 Take profit: 134.00
Buy: 134.05 Take profit: 134.75
Sell: 132.45 Take profit: 132.00
Sell: 131.95 Take profit: 131.25
For the GBP / JPY pair, the key levels on the H1 scale are: 156.00, 155.23, 153.98, 153.02, 151.66, 150.88 and 149.71. Here, the price forms a local structure for the top of December 6. Short-term upward movement is possible in the range of 153.02 - 153.98. The breakdown of the last value will lead to a movement towards the level of 155.23. The potential value for the top is, for the time being, the level of 156.00, after reaching which we expect consolidation in the area of 155.23 - 156.00.
Short-term downward movement is possible in the area of 151.66 - 150.88. The breakdown of the last value will lead to the formation of a downward structure. Here, the potential target is 149.71.
The main trend is the upward cycle of November 28, the local structure of December 6.
Trading recommendations:
Buy: 153.05 Take profit: 153.95
Buy: 154.00 Take profit: 155.20
Sell: 151.65 Take profit: 150.90
Sell: 150.85 Take profit: 149.75