FX.co ★ Fractal analysis of major currency pairs for November 29

Dear colleagues.

For the EUR / USD pair. the price forms the potential for a downward movement from November 27. The level of 1.1817 is the key resistance. For the GBP / USD pair, subsequent targets were determined from the local upward structure of November 28. For the USD / CHF pair, the price is in correction. The continuation of the downward movement is possible after the breakdown of 0.9800. For the USD / JPY pair, the continuation of the movement downwards is expected after the breakdown of 111.10. For the EUR / JPY pair, the upward structure of November 23 is still relevant for determining the target. This is possible due to the formation of the potential for the top. For the of GBP / JPY, the price issued a pronounced upward structure from November 28.

Forecast for November 29:

Analytical review of currency pairs in the scale of H1:

For the EUR / USD pair, the key levels on the scale of H1 are: 1.2060, 1.2007, 1.1981, 1.1929, 1.1896, 1.1871, 1.1817, 1.1776, 1.1742 and 1.1720. Here, the price forms the potential for a downward movement from November 27. The continued development of this structure is expected after the breakdown of 1.1817. In this case, the target is 1.1776. Near this level is the consolidation of the price. The potential value for the bottom is the level of 1.1720, upon reaching which we expect the departure to correction.

Short-term upward movement is possible in the area of 1.1871-1.1896. The breakdown of the latter value will lead to in-depth movement. Here, the target is 1.1929. This level is the key resistance for the upward structure.

The main trend is the formation of the downward potential of November 27.

Trading recommendations:

Buy: 1.1871 Take profit: 1.1894

Buy: 1.1897 Take profit: 1.1926

Sell: 1.1815 Take profit: 1.1780

Sell: 1.1773 Take profit: 1.1742

For the GBP / USD pair, the key levels on the scale of H1 are: 1.3555, 1.3511, 1.3451, 1.3401, 1.3328, 1.3289, 1.3253 and 1.3203. Here, we determined the subsequent goals from the local upward structure on November 28. Continued upward movement is expected after the breakdown of 1.3401. In this case, the target is 1.3451. Near this level is the consolidation of the price. A break at the level of 1.3453 will lead to a movement towards the level of 1.3511, from which the rollback to correction is possible. The potential value for the top is the level of 1.3555.

Short-term downward movement is possible in the area of 1.3328 - 1.3289. The breakdown of the last value will lead to in-depth correction. Here, the target is 1.3253. This level is the key support for the top. Its breakdown will allow us to count on the movement towards the first target of 1.3203.

The main trend is a local upward structure from November 28.

Trading recommendations:

Buy: 1.3401 Take profit: 1.3450

Buy: 1.3453 Take profit: 1.3510

Sell: 1.3326 Take profit: 1.3292

Sell: 1.3287 Take profit: 1.3255

For the USD / CHF pair, the key levels on the scale of H1 are: 0.9915, 0.9880, 0.9849, 0.9832, 0.9802, 0.9759, 0.9735 and 0.9678. Here, we continue to follow the downward structure from November 1. At the moment, the price is in correction. Continued downward movement is expected after the breakdown of 0.9800. In this case, the target is 0.9759. In the area of 0.9759 - 0.9735 is the consolidation of the price. The potential value for the bottom is the level of 0.9678, from which we expect a rollback to the top.

Short-term upward movement is possible in the area of 0.9832 - 0.9849. The breakdown of the last value will lead to an in-depth movement towards correction. Here, the target is 0.9880. The 0.9915 level is still considered as a potential for the top. Before reaching this level, we expect the initial conditions for an upward cycle to be formalized.

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

Trading recommendations:

Buy: 0.9850 Take profit: 0.9880

Buy: 0.9882 Take profit: 0.9915

Sell: 0.9800 Take profit: 0.9765

Sell: 0.9755 Take profit: 0.9735

For the USD / JPY pair, the key levels on a scale are: 112.22, 111.98, 111.66, 111.49, 111.10 and 110.75. Here, we continue to follow the downward structure from November 6. At the moment, the price is in correction. The continuation of the downward movement is possible after the breakdown of 111.10. Here, the target is 110.75. From this level, we expect a turn. In general, the potential of the downward structure is at the level of 110.03.

Short-term upward movement is possible in the area of 111.49 - 111.66. The breakdown of the last value will lead to a deeper movement. Here, the goal is 111.98. Up to the level of 112.22, we expect the capacity for the upward cycle to be formalized.

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

Trading recommendations:

Buy: 111.50 Take profit: 111.64

Buy: 111.68 Take profit: 111.95

Sell: 111.05 Take profit: 110.75

Sell: 110.70 Take profit: 110.36

For the CAD / USD pair, the key levels on the H1 scale are: 1.2923, 1.2901, 1.2865, 1.2838, 1.2790, 1.2765 and 1.2731. Here, we follow the formation of the upward structure of November 23. Short-term upward movement is expected in the range of 1.2838 - 1.2865. The breakdown of the last value should be accompanied by a pronounced upward movement. Here, the target is 1.2901. In the area of 1.2901 - 1.2923 is the consolidation of the price.

Short-term downward movement is possible in the area of 1.2790 - 1.2765. The breakdown of the last value will lead to in-depth correction. Here, the target is 1.2731. This level is the key support for the top.

The main trend is the upward structure of November 23.

Trading recommendations:

Buy: 1.2838 Take profit: 1.2864

Buy: 1.2867 Take profit: 1.2900

Sell: 1.2790 Take profit: 1.2768

Sell: 1.2763 Take profit: 1.2735

For the AUD / USD pair, the key levels on the scale of H1 are: 0.7717, 0.7692, 0.7660, 0.7629, 0.7587, 0.7564, 0.7529 and 0.7491. Here, we continue to follow the upward structure of November 21. Continued development of the upward structure is expected after the breakdown of 0.7630. In this case, the target is 0.7660. Near this level is the consolidation of the price. The breakdown of 0.7660 should be accompanied by a pronounced upward movement. In this case, the target is 0.7692. The potential value for the upward trend so far is the level of 0.7717.

Short-term downward movement is possible in the area of 0.7587 - 0.7564. Hence, the probability of a reversal is high. The breakdown at 0.7564 will lead to a downward trend and the target is 0.7530. The potential value for the bottom is the level of 0.7491.

The main trend is the formation of the upward potential of November 21.

Trading recommendations:

Buy: 0.7630 Take profit: 0.7660

Buy: 0.7662 Take profit: 0.7690

Sell: 0.7586 Take profit: 0.7566

Sell: 0.7562 Take profit: 0.7535

For the of EUR / JPY pair, the key levels on the scale of H1 are: 135.29, 134.75, 134.01, 133.35, 132.47, 131.98 and 131.19. Here, the upward structure of November 23 is still relevant for the definition of goals. Continued upward movement is expected after the breakdown of 133.35. Here, the target is 134.00. Near this level is the consolidation of the price. The breakdown of 134.03 will be accompanied by a pronounced upward movement. Here, the target is 134.75. The potential value for the top is the level of 135.29, upon reaching which we expect a correction.

Consolidated movement is possible in the area of 132.47 - 131.98. The breakdown of the latter value will lead to the development of the downward structure. Here, the target is 131.19. This level is the key resistance for the subsequent development of the downward trend.

The main trend is the formation of an upward potential from November 23, the correction stage.

Trading recommendations:

Buy: 133.35 Take profit: 134.00

Buy: 134.05 Take profit: 134.75

Sell: Take profit:

Sell: 131.95 Take profit: 131.25

For the GBP / JPY pair, the key levels on the H1 scale are: 151.68, 151.05, 150.14, 149.81, 149.40, 148.41, 147.85 and 146.88. Here, the price has set the potential for the upward trend of November 28. The continuation of the upward movement is expected after the breakdown at 149.40. In this case, the target is 149.81. Near this level is the consolidation of the price. Passing the price of the noise range of 149.81 - 150.14 should be accompanied by a pronounced movement towards the level of 151.05. The potential value for the top is the level 151.68, from which we expect the movement towards correction.

Short-term downward movement is possible in the area of 148.41 - 147.85. Hence, the probability of an upward turn is high. A break at the level of 147.85 will lead to the development of a downward movement. In this case, the target is 146.88.

The main trend is the upward potential of November 28.

Trading recommendations:

Buy: 149.40 Take profit: 149.80

Buy: 150.16 Take profit: 151.00

Sell: 148.40 Take profit: 147.90

Sell: 147.80 Take profit: 146.90