Forecast for July 30 :
Analytical overview of currency pairs on the H1 scale:
The key levels for the euro / dollar pair on the H1 scale are: 1.1869, 1.1824, 1.1798, 1.1727, 1.1695, 1.1668, 1.1636 and 1.1614. Here, the price has framed a small local structure for the high of July 28. A short-term upward movement is expected in the range of 1.1798 – 1.1824. The breakdown of the last level will allow us to count on a movement to a potential target – 1.1869. We expect a downward pullback from this level.
The level of 1.1727 is a key support for the top and its breakdown will lead to the development of a downward structure. In this case, the first target is 1.1695. The breakdown of which will allow us to count on a movement to 1.1668. Price consolidation near this level. The breakdown of the level of 1.1666 will lead to a pronounced downward movement. Here, the target is 1.1636. Price consolidation is in the range of 1.1636 – 1.1614. We expect the formation of pronounced initial conditions for a downward cycle to the level of 1.1636.
The main trend is an upward structure from July 10, local potential from July 28
Trading recommendations:
- Buy: 1.1798 Take profit: 1.1824
- Buy: 1.1826 Take profit: 1.1869
- Sell: 1.1727 Take profit: 1.1695
- Sell: 1.1666 Take profit: 1.1636
The key levels for the pound / dollar pair on the H1 scale are: 1.3056, 1.2994, 1.2962, 1.2916, 1.2878 and 1.2823. Here, we continue to follow the July 14 upward structure. A short-term upward movement is expected in the range of 1.2962 – 1.2994. We consider the level of 1.3056 as 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 1.2916 – 1.2878. The breakdown of the last value will lead to a deep correction. Here, the target is 1.2823. This is a key support level for the top.
The main trend is the upward cycle from July 14.
Trading recommendations:
- Buy: Take profit:
- Buy: 1.2996 Take profit: 1.3055
- Sell: 1.2915 Take profit: 1.2878
- Sell: 1.2876 Take profit: 1.2825
The key levels for the dollar / franc pair on the H1 scale are: 0.9260, 0.9229, 0.9187, 0.9128 and 0.9089. Here, we are following the development of the downward cycle from July 16. At the moment, the price is near the limit values. A short-term downward movement is expected in the range of 0.9128 – 0.9089; hence, a key upward reversal is expected.
The level of 0.9187 is a key support for the downward structure and its breakdown will lead to the development of an upward correction. In this case, the target is 0.9229. We consider the level of 0.9260 as a potential value for the top. Upon reaching which, we expect consolidation and the formation of initial conditions for an upward cycle.
The main trend is the descending structure from July 16
Trading recommendations:
- Buy : 0.9188 Take profit: 0.9228
- Buy : 0.9230 Take profit: 0.9260
- Sell: Take profit:
- Sell: 0.9126 Take profit: 0.9090
The key levels for the dollar / yen pair on the scale are : 106.04, 105.81, 105.52, 105.33, 104.98, 104.72 and 104.32. Here, we are following the development of the downward structure from July 20. A short-term downward movement is expected in the range of 104.98 – 104.72. The breakdown of the last level will lead to a movement to a potential level. Here, the target is 104.32. Upon reaching which, we expect an upward pullback.
A short-term upward movement is possible in the range of 105.33 – 105.52. The breakdown of the last level will lead to a deep correction. Here, the target is 105.81. The range of 105.81 – 106.04 is the key support for the bottom. We expect the formation of pronounced initial conditions for the top up to the level of 106.04.
The main trend is the downward structure from July 20
Trading recommendations:
- Buy: 105.33 Take profit: 105.50
- Buy : 105.54 Take profit: 105.81
- Sell: 104.97 Take profit: 104.73
- Sell: 104.71 Take profit: 104.34
The key levels for the Canadian dollar / US dollar pair on the H1 scale are: 1.3468, 1.3437, 1.3395, 1.3358, 1.3303, 1.3274 and 1.3211. Here, we are following the downward structure from July 14th. At the moment we expect movement to the level of 1.3303. Price consolidation is in the range of 1.3303 – 1.3274. We consider the level of 1.3211 as a potential value for the bottom; upon reaching this level, we expect an upward pullback.
A consolidated movement is possible in the range of 1.3358 – 1.3395. The breakdown of the last value will lead to a deep correction. Here, the target is 1.3437. The range of 1.3437 – 1.3468 is the key support for the downward structure. We expect the initial conditions for the upward cycle to form up to the level of 1.3468.
The main trend is the descending structure from July 14
Trading recommendations:
- Buy: 1.3397 Take profit: 1.3435
- Buy : 1.3438 Take profit: 1.3467
- Sell: 1.3303 Take profit: 1.3275
- Sell: 1.3272 Take profit: 1.3213
The key levels for the Australian dollar / dollar pair on the H1 scale are : 0.7268, 0.7236, 0.7213, 0.7182, 0.7128, 0.7104 and 0.7064. Here, the price formed a local upward structure from July 24. The continuation of the upward movement is expected after the breakdown of the level of 0.7182. In this case, the target is 0.7213. Price consolidation is in the range of 0.7213 – 0.7236. For the potential value for the top, we consider the level of 0.7268. Upon reaching which, we expect consolidation, as well as a downward pullback.
A short-term downward movement is possible in the range of 0.7128 – 0.7104. The breakdown of the last level will favor the development of a downward structure. In this case, the first target is 0.7064.
The main trend is the local upward structure of July 24
Trading recommendations:
- Buy: 0.7182 Take profit: 0.7213
- Buy: 0.7214 Take profit: 0.7233
- Sell : 0.7128 Take profit : 0.7105
- Sell: 0.7102 Take profit: 0.7065
The key levels for the euro / yen pair on the H1 scale are: 124.66, 124.26, 123.67, 123.35, 122.70, 122.26, 121.66, 121.28 and 120.75. Here, we are following the downward structure from July 22nd. The continuation of the downward movement is expected after the breakdown of the level of 122.70. In this case, the target is 122.26. There is consolidation near this level. The breakdown of the level of 122.24 should be accompanied by a pronounced downward movement. Here, the target is 121.66. There is consolidation in the range of 121.66 – 121.28. We consider the level of 120.75 as a potential value for the bottom. Upon reaching which, we expect an upward pullback.
A short-term upward movement is possible in the range of 123.94 – 124.26. The breakdown of the last value will lead to the formation of an upward structure. Here, the target is 124.66. We expect the formation of pronounced initial conditions for the top before this level.
The main trend is the descending structure from July 22
Trading recommendations:
- Buy: 123.95 Take profit: 124.25
- Buy: 124.27 Take profit: 124.65
- Sell: 122.70 Take profit: 122.28
- Sell: 122.24 Take profit: 121.66
The key levels for the pound / yen pair on the H1 scale are : 138.41, 137.73, 137.25, 136.55, 136.04, 135.48, 135.18 and 134.75. Here, we are following the July 17 upward structure. A consolidated upward movement is expected in the range 136.04 – 136.55. The breakdown of the last level should be accompanied by a pronounced upward movement. In this case, the target is the range of 137.25, in the 137.25 – 137.73. There is a short-term upward movement. For the potential value for the top, we consider the level of 138.41. Upon reaching which, we expect consolidation, as well as a downward pullback.
A short-term downward movement is expected in the range of 135.48 – 135.18. The breakdown of the last level will lead to a deep correction. Here, the target is 134.75. This is a key support level for the top.
The main trend is the upward structure from July 17
Trading recommendations:
- Buy: 136.60 Take profit: 137.25
- Buy: 137.27 Take profit: 137.70
- Sell: 135.96 Take profit: 135.50
- Sell: 135.48 Take profit: 135.18
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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