For the euro/dollar pair, the price has formed the potential for the top of July 1. We expect further development of this structure after the breakdown of the level of 1.1312. The level of 1.1245 is the key support.
For the pound/dollar pair, we are following the ascending structure of June 30. The level of 1.2508 is the key resistance, while the level of 1.2413 is the key support. For the dollar/franc pair, we expect a movement to the level of 0.9407. The level of 0.9449 is the key support.
For the dollar/yen pair, the continued development of the upward trend of June 23 is expected after the breakdown of the level of 107.95. The level of 107.37 is the key support. For the euro/yen pair, we are expected to continue the development of the upward trend of June 26 after passing through the noise range of 121.66 – 121.87.
For the pound/yen pair, the continuation of the development of the ascending structure from June 29 is expected after the breakdown of the level of 134.70. The level of 133.38 is the key support.
Forecast for July 6 :
Analytical review of currency pairs on the scale of H1:
The key levels for the euro / dollar pair on the H1 scale are: 1.1424, 1.1393, 1.1349, 1.1312, 1.1274, 1.1245 and 1.1183. Here, the price registered the potential for the upward movement of July 1. We expect further upward movement after the breakdown of the level of 1.1312. In this case, the target is 1.1349. Price consolidation is near this level. The price passing the level of 1.1350 should be accompanied by a pronounced upward movement. In this case, the target is 1.1393. For the potential value for the top, we consider the level of 1.1424. Upon reaching which, we expect consolidation, as well as a downward pullback.
A short-term downward movement is possible in the range of 1.1274 – 1.1245. The breakdown of the last level will lead to the formation of a downward structure. In this case, the potential target is 1.1183. We expect the initial conditions for the bottom to be formed to this level.
The main trend is the potential for the top of July 1
Trading recommendations:
- Buy: 1.1312 Take profit: 1.1346
- Buy: 1.1350 Take profit: 1.1390
- Sell: 1.1274 Take profit: 1.1247
- Sell: 1.1243 Take profit: 1.1185
The key levels for the pound / dollar pair on the H1 scale are: 1.2696, 1.2630, 1.2597, 1.2547, 1.2508, 1.2456, 1.2413 and 1.2349. Here, we are following the development of the upward cycle of June 30. A short-term downward movement is expected in the range of 1.2508 – 1.2547. The breakdown of the last level will lead to a pronounced upward movement. Here, the target is 1.2597. Price consolidation is in the range of 1.2597 – 1.2630. For the potential value for the top, we consider the level of 1.2696. Upon reaching which, we expect a downward pullback.
A short-term downward movement is expected in the range of 1.2456 – 1.2413. The breakdown of the last level will lead to a deeper correction. Here, the target is 1.2349. This is a key support level for the top.
The main trend is the upward structure of June 30
Trading recommendations:
- Buy: 1.2508 Take profit: 1.2545
- Buy: 1.2548 Take profit: 1.2595
- Sell: 1.2455 Take profit: 1.2415
- Sell: 1.2410 Take profit: 1.2355
The key levels for the dollar / franc pair on the H1 scale are: 0.9497, 0.9449, 0.9434, 0.9407, 0.9389, 0.9363 and 0.9346. Here, we are following the descending structure of June 30. We currently expect a movement to the level of 0.9407. A short-term downward movement, as well as consolidation are in the range of 0.9407 – 0.9389. The breakdown of the level of 0.9389 should be accompanied by a pronounced downward movement. Here, the target is 0.9363. For the potential value for the bottom, we consider the level of 0.9346. Upon reaching which, we expect consolidation, as well as an upward pullback.
A short-term upward movement is expected in the range of 0.9434 – 0.9449. The breakdown of the last level will lead to a deeper correction. Here, the target is 0.946. This is a key support level for the bottom and the price passing this level will lead to the formation of initial conditions for the upward cycle. In this case, the target is 0.9497.
The main trend is the downward structure of June 30
Trading recommendations:
- Buy : 0.9435 Take profit: 0.9448
- Buy : 0.9450 Take profit: 0.9469
- Sell: 0.9405 Take profit: 0.9390
- Sell: 0.9387 Take profit: 0.9365
The key levels for the dollar / yen pair on the scale are: 108.86, 108.45, 108.28, 107.95, 107.57, 107.37 and 107.01. Here, we follow the development of the upward cycle of June 23. We expect further upward movement after the breakdown of the level of 107.95. In this case, the target is 108.28. Price consolidation is in the range of 108.28 – 108.45. For the potential value for the top, we consider the level of 108.86. Upon reaching which, we expect a downward pullback.
A consolidated movement is possible in the range of 107.57 – 107.37. The breakdown of the last level will lead to a deeper correction. Here, the goal is 107.01. This is a key support level for the top.
The main trend is the upward cycle of June 23, correction stage
Trading recommendations:
- Buy: 107.95 Take profit: 108.28
- Buy : 108.47 Take profit: 108.86
- Sell: 107.55 Take profit: 107.38
- Sell: 107.35 Take profit: 107.05
The key levels for the Canadian dollar / US dollar pair on the H1 scale are: 1.3631, 1.3587, 1.3559, 1.3511, 1.3479, 1.3416 and 1.3370. Here, we consider the descending structure of June 26 as the main structure. A short-term downward movement is expected in the range of 1.3511 – 1.3479. The breakdown of the last value should be accompanied by a pronounced downward movement. Here, the target is 1.3416. For the potential value for the bottom, we consider the level of 1.3370. Upon reaching which, we expect consolidation, as well as an upward pullback.
A short-term upward movement in the range of 1.3559 – 1.3587 is expected. The breakdown of the last level will lead to a deeper correction. Here, the target is 1.3631. This is a key support level for the bottom.
The main trend is the descending structure of July 26
Trading recommendations:
- Buy: 1.3559 Take profit: 1.3585
- Buy : 1.3588 Take profit: 1.3630
- Sell: 1.3510 Take profit: 1.3481
- Sell: 1.3477 Take profit: 1.3420
The key levels for the Australian dollar / dollar pair on the H1 scale are : 0.7095, 0.7056, 0.7037, 0.7008, 0.6986, 0.6953, 0.6933 and 0.6898. Here, we are following the upward cycle of June 30. A short-term upward movement in the range 0.6986 – 0.7008 is expected. The breakdown of the last level should be accompanied by a pronounced upward movement. Here, the target is 0.7037. Price consolidation is in the range of 0.7037 – 0.7056, and from here, a downward reversal is very likely. For the potential value for the top, we consider the level of 0.7095. Upon reaching which, we expect a downward pullback.
A short-term downward movement is expected in the range 0.6953 – 0.6933. The breakdown of the last level will lead to a deeper correction. Here, the target is 0.6898. This is a key support level for the top.
The main trend is the upward cycle of June 30
Trading recommendations:
- Buy: 0.6987 Take profit: 0.7006
- Buy: 0.7010 Take profit: 0.7037
- Sell : 0.6953 Take profit : 0.6935
- Sell: 0.6932 Take profit: 0.6900
The key levels for the euro / yen pair on the H1 scale are: 122.91, 122.47, 121.87, 121.66, 121.22, 120.94, 120.51 and 120.12. Here, we follow the ascending structure of June 26th. A short-term upward movement in the range of 121.66 – 121.87 is expected. The breakdown of the last level will lead to a pronounced upward movement. Here, the target is 122.47. Price consolidation is near this level. We consider the level of 122.91 to be a potential value for the top. Upon reaching which, we expect consolidation, as well as a downward pullback.
A short-term downward movement is possible in the range of 121.22 – 120.94. The breakdown of the last level will lead to a deeper movement. Here, the target is 120.51. This is a key support level for the top and its breakdown will lead to the formation of a downward structure. In this case, the potential target is 120.12.
The main trend is the local upward structure of June 26
Trading recommendations:
- Buy: 121.88 Take profit: 122.45
- Buy: 122.49 Take profit: 122.90
- Sell: 121.20 Take profit: 120.95
- Sell: 120.92 Take profit: 120.55
The key levels for the pound / yen pair on the H1 scale are : 136.73, 135.98, 135.49, 134.68, 133.77, 133.38, 132.90, 132.41 and 131.91. Here, we are following the development of the rising structure of June 29. The continuation of the upward movement is expected after the breakdown of the level of 134.68. In this case, the target is 135.49. Short-term upward movement, as well as consolidation are in the range of 135.49 – 135.98. For the potential value for the top, we consider the level 136.73. Upon reaching which, we expect a downward pullback.
A short-term downward movement is expected in the range 133.77 – 133.38. The breakdown of the last level will lead to a deeper correction. Here, the goal is 132.90. This is a key support level for the top.
The main trend is the upward structure of June 29
Trading recommendations:
- Buy: 134.70 Take profit: 135.49
- Buy: 135.52 Take profit: 135.96
- Sell: 133.77 Take profit: 133.40
- Sell: 133.36 Take profit: 132.90
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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