FX.co ★ Fractal analysis of the main currency pairs for November 22

Dear colleagues.

For the of EUR / USD pair, we consider the downward structure of November 15 as the main trend. For the GBP / USD pair, the continuation of the development of the upward structure of November 3 is expected after the breakdown of 1.3290. We consider the downward movement as a correction. For the USD / CHF pair, the price forms the potential for the top of November 15 in the correction of the downward structure. For the USD / JPY pair, the price is also in correction and forms the potential for the top of November 17. For the EUR / JPY pair, we follow the formation of the downward structure of November 14. For the GBP / JPY pair, the continuation of the downward movement is expected after the breakdown of 148.36. There is also a small structure for the top of November 20.

Forecast for November 22:

Analytical review of currency pairs in the scale of H1:

For the EUR / USD pair, the key levels on the scale of H1 are: 1.1808, 1.1776, 1.1754, 1.1713, 1.1674, 1.1641, 1.1621 and 1.1587. Here, we follow the downward structure of November 15. Continued downward movement is expected after the breakdown of 1.1713. In this case, the target is 1.1674. Near this level is the consolidation of the price. A breakthrough at the level of 1.1672 should be accompanied by a pronounced movement towards the level of 1.1641. In the area of 1.1641 - 1.1621 is consolidation of the price. The potential value for the bottom is the level of 1.1587, upon reaching which, we expect a rollback upward.

Short-term upward movement is possible in the area of 1.1754-1.1776. The breakdown of the last value will lead to an in-depth movement. Here, the target is 1.1808. This level is the key resistance for the development of the upward movement.

The main trend is the formation of the potential for the bottom of November 15.

Trading recommendations:

Buy: 1.1755 Take profit: 1.1774

Buy: 1.1778 Take profit: 1.1806

Sell: 1.1710 Take profit: 1.1680

Sell: 1.1672 Take profit: 1.1645

For the GBP / USD pair, the key levels on the H1 scale are: 1.3378, 1.3327, 1.3289, 1.3264, 1.3212, 1.3186 and 1.3144. Here, we continue to follow the development of the upward structure on November 3. In the area of 1.3289 - 1.3264, we expect a short-term upward movement. The breakdown at 1.3290 will lead to a movement towards the level of 1.3327. Near this level, we expect the consolidation of the price. The potential value for the top is the level of 1.3378.

Short-term downward movement is possible in the area of 1.3212 - 1.3186. The breakdown of the last value will lead to in-depth correction. Here, the target is 1.3144. This level is the key support for the top.

The main trend is the upward structure of November 3.

Trading recommendations:

Buy: 1.3290 Take profit: 1.3325

Buy: 1.3330 Take profit: 1.3375

Sell: 1.3184 Take profit: 1.3150

Sell: 1.3130 Take profit: 1.3100

For the USD / CHF pair, the key levels on the scale of H1 are: 1.0020, 1.0006, 0.9983, 0.9953, 0.9907, 0.9884, 0.9849, 0.9832 and 0.9802. Here, we continue to follow the downward structure from November 1. At the moment, the price is in correction and forms the potential for the top of November 15. Continued upward movement is expected after the breakdown of 0.9955. In this case, the target is 0.9983. Near this level is the consolidation of the price. A breakthrough of the level of 0.9985 will allow us to count on the movement towards the potential target of 1.0020. In the area of 1.0020 - 1.0006 is the consolidation of the price.

Short-term downward movement is possible in the area of 0.9907 - 0.9884. The breakdown of the last value will lead to the development of a downward trend. Here, the target is 0.9849. In the area of 0.9849 - 0.9832 is the consolidation of the price. The potential value for the bottom is the level of 0.9802.

The main trend is the downward structure of November 1, the formation of the potential for the top of November 15.

Trading recommendations:

Buy: 0.9955 Take profit: 0.9980

Buy: 0.9985 Take profit: 1.0004

Sell: 0.9905 Take profit: 0.9886

Sell: 0.9882 Take profit: 0.9850

For the USD / JPY pair, the key levels on a scale are: 113.32, 113.01, 112.77, 112.43, 112.22, 111.92, 111.66, 111.49 and 111.10. Here, we continue to follow the downward structure from November 6. Currently, the price forms the potential for the top of November 17. Short-term upward movement is possible in the area of 112.77 - 113.01. The breakdown of the last value will lead to the development of an upward trend. In this case, the potential target is 113.32. Near this level is the consolidation of the price.

Consolidated traffic is possible in the range of 112.43 - 112.22. Subsequent downward movement is expected after the breakdown of 111.90. Here, the target is 111.66. In the area of 111.66 - 111.49 is the consolidation of the price. The potential value for the downward movement is the level of 111.10, after reaching which we expect the departure towards correction.

The main trend is a downward structure from November 6, the correction stage.

Trading recommendations:

Buy: 112.77 Take profit: 113.00

Buy: 113.03 Take profit: 113.30

Sell: 112.40 Take profit: 112.24

Sell: 112.18 Take profit: 112.00

For the CAD / USD pair, the key levels on the H1 scale are: 1.2906, 1.2884, 1.2850, 1.2824, 1.2789, 1.2763 and 1.2721. Here, we follow the upward structure of November 10. At the moment, the price is in correction. Continued upward movement is expected after the breakdown of 1.2824. In this case, the target is 1.2850. In the area of 1.2824 - 1.2850 is short-term upward movement. The potential value for the top is the level of 1.2884, upon the reaching which, we expect consolidated movement in the area of 1.2884 - 1.2906.

Short-term downward movement is possible in the area of 1.2789 - 1.2763. The breakdown of the latter value will lead to the development of a protracted correction. Here, the target is 1.2721. This level is the key support for the top.

The main trend is the upward structure of November 10, the correction stage.

Trading recommendations:

Buy: 1.2826 Take profit: 1.2848

Buy: 1.2852 Take profit: 1.2884

Sell: 1.2786 Take profit: 1.2765

Sell: 1.2760 Take profit: 1.2725

For the AUD / USD pair, the key levels on the scale of H1 are: 0.7660, 0.7638, 0.7616, 0.7585, 0.7545, 0.7510, 0.7491 and 0.7449. Here, we continue to follow the downward structure from November 2. At the moment, the price is in correction. Continued downward movement is expected after the breakdown of 0.7545. Here, the target is 0.7510. In the area of 0.7510 - 0.7491 is the consolidation of the price. The potential value for the bottom is the level of 0.7449, from which we expect a rollback to the top.

Correction is possible after the breakdown of 0.7585. In this case, the first target is 0.7616. Short-term upward movement is expected in the area of 0.7616 - 0.7638. The breakdown of the last value will lead to movement. Here, the target is 0.7660. After reaching this level, we expect the initial conditions for the upward cycle to be formalized.

The main trend is a downward structure for the bottom of November 2, the correction stage.

Trading recommendations:

Buy: 0.7585 Take profit: 0.7614

Buy: 0.7618 Take profit: 0.7636

Sell: 0.7543 Take profit: 0.7510

Sell: 0.7490 Take profit: 0.7450

For the EUR / JPY pair, the key levels on the scale of H1 are: 132.99, 132.39, 131.98, 131.19, 130.47, 129.85 and 129.48. Here, we follow the formation of the downward structure from November 14. The continuation of the downward movement is expected after the breakdown of 131.19. Here, the target is 130.47. From this level, we expect the departure to the zone of initial conditions. The potential value for the downward movement is the level of 129.48. Movement towards this level is possible after the breakdown of 130.44.

The short-term upward movement is expected in the area of 131.98 - 132.39. The breakdown of the last value will lead to an in-depth movement. Here, the target is 132.99. This level is the key support for the downward structure from November 14.

The main trend is the formation of a downward structure from November 14.

Trading recommendations:

Buy: 132.00 Take profit: 132.37

Buy: 132.43 Take profit: 132.95

Sell: 131.15 Take profit: 130.50

Sell: 130.44 Take profit: 129.48

For the GBP / JPY pair, the key levels on the scale of H1 are: 150.60, 150.14, 149.81, 149.34, 148.36, 147.87, 147.41, 146.61, 146.18 and 145.27. Here, we continue to follow the development of the downward structure from November 1. At the moment, the price forms the potential for the top of November 20 in the correction zone. Continued development of a downward trend is possible after the breakdown of 148.36. In this case, the first target is 147.87. In the area of 147.87 - 147.41, we expect a consolidated movement. The breakdown at 147.40 should be accompanied by a pronounced downward movement. Here, the target is 146.61. In the range of 146.61 - 146.18 in the short-term is the consolidation of the price. The potential value for the bottom is the level of 145.27, upon reaching which we expect a rollback to the top.

The breakthrough of the level of 149.34 will lead to the development of the upward structure from November 20. In this case, the target is 149.81. In the area of 149.81 - 150.14 is the consolidation of the price. The potential value for the top is the level of 150.60.

The main trend is the downward structure from November 1, the correction stage.

Trading recommendations:

Buy: 149.35 Take profit: 149.80

Buy: 150.16 Take profit: 150.60

Sell: 148.34 Take profit: 147.87

Sell: 147.40 Take profit: 146.65