FX.co ★ Fractal analysis of the main currency pairs for October 11

Dear colleagues.

For the of EUR / USD pair, we follow the formation of the upward structure of October 6. For the GBP / USD pair, we follow the formation of the initial conditions for the upward trend of October 6. For the USD / CHF pair,we expect downward structure development after the breakdown of 0.9730. For the USD / JPY pair, the price is close to canceling the upward trend in the scale of H1, which requires a breakdown at 111.95. For the EUR / JPY pair, we are following a small potential for the top of October 5. For the GBP / JPY pair, we are monitoring the formation of the potential for the top of October 6.

The forecast for October 11:

Analytical review of currency pairs in the scale of H1:

For the EUR / USD pair, the key levels on the scale of H1 are: 1.1987, 1.1948, 1.1888, 1.1866, 1.1837, 1.1789, 1.1764, 1.1731 and 1.1668. Here, we follow the upward structure of October 6. Continued upward movement is expected after the breakdown of 1.1837. In this case, the target is 1.1866. Near this level is the consolidation of the price. Passing the price of the noise range at 1.1866-1.188 should be accompanied by a pronounced upward movement. The target here is 1.1948. The potential value for the top is the level of 1.1987, upon reaching which we expect a pullback downwards.

Short-term downward movement is possible in the area of 1.1789-1.1764. The breakdown of the last value will lead to in-depth correction. Here, the target is 1.1731. This level is the key support for the top. Passing the price will lead to the development of a downward trend. In this case, the potential target is 1.1668.

The main trend is the upward structure of October 6.

Trading recommendations:

Buy: 1.1837 Take profit: 1.1865

Buy: 1.1890 Take profit: 1.1945

Sell: 1.1786 Take profit: 1.1766

Sell: 1.1762 Take profit: 1.1733

For the GBP / USD pair, the key levels on the scale of H1 are: 1.3342, 1.3303, 1.3246, 1.3195, 1.3123, 1.3087, 1.3027, 1.2971 and 1.2906. Here, we continue to follow the upward structure of October 6. The short-term upward movement is expected in the area of 1.3195 - 1.3246. The breakdown of the last value will allow us to count on the movement towards the level of 1.3303. In the area of 1.3303 - 1.3342 is the consolidation of the price.

Short-term downward movement is possible in the area of 1.3123 - 1.3087. The breakdown of the last value will lead to the development of the downward structure. Here, the target is 1.3027. This level is the key resistance for the development of the pronounced movement to the bottom. Its breakdown will allow to us count on the achievement of the level of 1.2971. We consider the level of 1.2906 as a potential value for the downward trend.

The main trend is the formation of initial conditions for the upward movement of October 6.

Trading recommendations:

Buy: 1.3195 Take profit: 1.3244

Buy: 1.3248 Take profit: 1.3300

Sell: 1.3123 Take profit: 1.3088

Sell: 1.3082 Take profit: 1.3030

For the USD / CHF pair, the key levels on the scale of H1 are: 0.9872, 0.9842, 0.9819, 0.9793, 0.9752, 0.9733, 0.9702 and 0.9670. Here, we expect the formation of a pronounced structure for the downward cycle. Short-term downward movement is possible in the range of 0.9733 - 0.9702. The breakdown of the latter value will lead to the formation of a downward structure. Here, the target is 0.9670.

Continued upward movement is expected after the breakdown of 0.9793. In this case, the first target is 0.9819. In the area of 0.9819 - 0.9842 is the consolidation of the price. The potential value for the top is the level of 0.9872, from which we expect a pullback downwards.

The main trend is the formation of initial conditions for a downward cycle.

Trading recommendations:

Buy: 0.9795 Take profit: 0.9816

Buy: 0.9820 Take profit: 0.9840

Sell: 0.9730 Take profit: 0.9705

Sell: 0.9700 Take profit: 0.9674

For the USD / JPY pair, the key levels on the scale are: 115.15, 114.26, 113.25, 112.79, 112.31, 111.95 and 111.32. Here, we continue to follow the main upward trend of September 8. At the current time, the price is in correction. Continued development of the upward trend is expected after passing the price of the noise range at 112.79 - 113.25. In this case, the target is 114.26. Near this level is the consolidation of the price. The potential value for the top is the level of 115.15, from which we expect a pullback downwards.

Short-term downward movement is possible in the area of 112.31 - 111.95. The breakdown of the last value will lead to in-depth correction. Here, the target is 111.32. This level is the key support for the top.

The main trend is the upward structure of September 8, the correction stage.

Trading recommendations:

Buy: 113.27 Take profit: 114.24

Buy: 114.28 Take profit: 115.12

Sell: 111.30 Take profit: 111.96

Sell: 111.93 Take profit: 111.34

For the CAD / USD pair, the key H1 scale levels are: 1.2595, 1.2570, 1.2545, 1.2528, 1.2478, 1.2459, 1.2435, 1.2422 and 1.2391. Here, we follow the downward structure of October 6. Short-term downward movement is expected in the area of 1.2478 - 1.2459. The breakdown of the last value will lead to a pronounced movement. Here, the target is 1.2435. In the area of 1.2435 - 1.2422 is the consolidation of the price. The potential value for the downward structure is the level of 1.2391, from which we expect a rollback upward.

Short-term upward movement is possible in the area of 1.2528 - 1.2542. The breakdown of the last value will lead to in-depth correction. Here, the target is 1.2570. This level is the key support for the downward structure.

The main trend is the downward structure of October 6.

Trading recommendations:

Buy: 1.2528 Take profit: 1.2545

Buy: 1.2547 Take profit: 1.2570

Sell: 1.2478 Take profit: 1.2462

Sell: 1.2457 Take profit: 1.2437

For the AUD / USD pair, the key levels on the scale of H1 are: 0.7872, 0.7835, 0.7795, 0.7770, 0.7720, 0.7650 and 0.7610. Here, we continue to follow the downward structure from September 20. At the moment, the price is in correction. The breakdown of 0.7715 will lead to a movement towards 0.7650. The potential value for the bottom is the level of 0.7610, from which we expect a rollback upward.

Short-term upward movement is possible in the area of 0.7770 - 0.7795. The breakdown of the last value will lead to in-depth correction. Here, the target is 0.7835. Up to the level of 0.7872 we expect initial conditions for the upward cycle to be formed.

The main trend is the downward structure of September 20.

Trading recommendations:

Buy: 0.7837 Take profit: 0.7870

Buy: 0.7797 Take profit: 0.7835

Sell: 0.7715 Take profit: 0.7660

Sell: 0.7648 Take profit: 0.7615

For the EUR / JPY pair, the key levels on the scale of H1 are: 133.83, 133.25, 132.79, 131.85, 131.32, 130.34, 129.99 and 129.32. Here, we expect the development of the upward potential of October 5. Short-term upward movement is possible in the area of 132.79 - 133.25. The breakdown of the last value will lead to in-depth correction. Here, the target is 133.83. This level is the key support for the downward structure from September 22.

Continued downward movement is expected after the breakdown of 131.85. Here, the target is 131.32. Near this level is the consolidation of the price. The breakdown at 131.30 should be accompanied by a pronounced downward movement towards 130.34. In the area of 130.34 - 129.99 is the consolidation of the price. We consider the potential value for the downward movement to be at 129.32, from which we expect a pullback upward.

The main trend is the formation of the upward potential of October 5.

Trading recommendations:

Buy: 132.80 Take profit: 133.20

Buy: 133.27 Take profit: 133.80

Sell: 131.85 Take profit: 131.35

Sell: 131.28 Take profit: 130.40

For the GBP / JPY pair, the key levels on the scale of H1 are: 150.55, 149.53, 148.52, 147.31, 146.49, 145.36 and 144.70. Here, the price forms a small potential for the top of October 6. Short-term upward movement is possible in the area of 148.52 - 149.53. The breakdown of the last value will lead to in-depth correction. Here, the target is 150.55. This level is the key support for the downward cycle.

Short-term downward movement is expected in the range of 147.31 - 146.49. The breakdown of the latter value will lead to the development of a pronounced movement. Here, the target is 145.36. In the area of 145.36 - 144.70 is the consolidation of the price.

The main trend is the formation of the potential for the top of October 6.

Trading recommendations:

Buy: 148.52 Take profit: 149.30

Buy: 149.55 Take profit: 155.50

Sell: 147.30 Take profit: 146.55

Sell: 146.45 Take profit: 145.54