Dear colleagues.
For the pair Euro / Dollar, the continuation of the upward movement is expected after the breakdown of 1.1751. For the Pound / Dollar pair, we follow the upward structure of July 20. For the pair Dollar / Frank, we follow the upward cycle of July 21. For the pair Dollar / Yen, a local downward cycle is formed on July 26 and the continuation of the movement downwards is expected after the breakdown 110.20. For the pair Euro / Yen, the continuation of the upward movement is expected after the breakdown of 130.77. For the pair Pound / Yen, the price forms the potential for the top of July 24.
Forecast for July 31:
Analytical review of currency pairs in the scale of H1:
For the EUR / USD pair, the key levels on the scale of H1 are: 1.1887, 1.1849, 1.1802, 1.1751, 1.1715, 1.1642, 1.1603, 1.1561 and 1.1531. Here, we consider the ascending structure of July 26 as local initial conditions. The continued upward movement is expected after the breakdown of 1.1751. In this case, the first target is 1.1802 and at this level, the consolidation is possible. The potential value for the top is the level of 1.1887, after which we expect consolidation in the corridor of 1.1849-1.1887.
The development of the downward movement is expected after the breakdown of 1.1691. Here, the target is 1.1642 and in this corridor is the consolidation. The breakdown of the level of 1.1600 will lead to the development of pronounced downward movement. Here, the target is 1.1561.
The main trend is the local structure for the top of July 26.
Trading recommendations:
Buy: 1.1753 Take profit: 1.1800
Buy: 1.1804 Take profit: 1.1848
Sell: 1.1690 Take profit: 1.1644
Sell: 1.1640 Take profit: 1.1605
For the Pound / Dollar pair, the key levels on the scale of H1 are: 1.3261, 1.3230, 1.3187, 1.3155, 1.3106, 1.3080, 1.3048 and 1.3011. Here, we continue to follow the upward cycle of July 20. The short-term upward movement is possible in the corridor of 1.3155 - 1.3187 and the breakdown of the last value should be accompanied by a pronounced movement to the level of 1.3230. The potential value for the top is the level of 1.3261, after which we expect consolidation, as well as a pullback to the bottom.
The short-term downward movement is possible in the corridor 1.3106 - 1.3080 and the breakdown of the last value will lead to an in-depth correction. Here, the target is 1.3048 and this level is the key support for the top. Its passage by the price will have the development of the downward structure. In this case, the target is 1.3011 and before this level, we expect the formalization of the initial conditions for the downward cycle.
The main trend is the upward cycle from July 20, the correction stage.
Trading recommendations:
Buy: 1.3155 Take profit: 1.3185
Buy: 1.3190 Take profit: 1.3230
Sell: 1.3104 Take profit: 1.3082
Sell: 1.3078 Take profit: 1.3050
For the pair Dollar / Frank, the key levels on the scale of H1 are: 0.9811, 0.9753, 0.9714, 0.9655, 0.9630 and 0.9595. Here, we continue to follow the upward structure of July 21. The continued upward movement is expected after the breakdown of 0.9714. In this case, the target is 0.9753 and near this level is consolidation. The breakdown at the level of 0.9755 will allow us to count on the movement to the potential target of 0.9811, upon reaching which we expect a pullback downwards.
The short-term downward movement is possible in the corridor of 0.9655 - 0.9630 and the breakdown of the last value will lead to an in-depth correction. Here, the target is 0.9595 and this level is the key support for the top.
The main trend is the upward structure of July 21.
Trading recommendations:
Buy: 0.9716 Take profit: 0.9750
Buy: 0.9755 Take profit: 0.9810
Sell: 0.9655 Take profit: 0.9633
Sell: 0.9628 Take profit: 0.9600
For the pair Dollar / Yen, the key levels on the scale of H1 are: 112.66, 112.18, 111.60, 111.32, 110.57, 110.20, 109.74, 109.44 and 108.85. Here, we follow the development of the local downward structure of July 26. The continuation of the movement downwards is expected after the breakdown of 110.57. Here, the target is 110.20 and in this range is the consolidation. The breakdown at 110.20 level should be accompanied by a pronounced downward movement to the level of 109.74 and in the corridor of 109.74 - 109.44 is the consolidation of the price. The potential value for the bottom is the level of 108.85, from which we expect the correction to go.
The short-term upward movement is possible in the corridor of 111.32 - 111.60 and the breakdown of the last value will have to develop an ascending structure. Here, the first target is 112.18 and the potential value for the top is 112.66.
The main trend is the downward structure of July 7.
Trading recommendations:
Buy: 111.32 Take profit: 111.60
Buy: 111.64 Take profit: 112.16
Sell: 110.18 Take profit: 109.76
Sell: 109.42 Take profit: 108.90
For the Canadian Dollar / Dollar pair, the key levels on the scale of H1 are: 1.2775, 1.2643, 1.2559, 1.2460, 1.2388 and 1.2252. Here, we follow the downward cycle from June 8th. The short-term downward movement is expected in the range of 1.2460 - 1.2388. Hence, the probability of a turn in correction is high and the break of the level of 1.2385 will allow counting on the movement to the maximum target of 1.2252.
The short-term upward movement is possible in the corridor of 1.2559 - 1.2643 and the breakdown of the last value will lead to an in-depth correction. Here, the target is 1.2775 and to this level on the scale of H1, we expect the formation of pronounced initial conditions for the upward cycle.
The main trend is the downward cycle from June 8.
Trading recommendations:
Buy: 1.2560 Take profit: 1.2640
Buy: 1.2645 Take profit: 1.2773
Sell: 1.2460 Take profit: 1.2390
Sell: 1.2386 Take profit: 1.2255
For the Australian Dollar / Dollar pair, the key levels on the scale of H1 are: 0.8201, 0.8150, 0.8116, 0.8066, 0.7970 0.7927 and 0.7872. Here, we are still following the local upward structure of July 26. The continued upward movement is expected after the breakdown of 0.8066. In this case, the target is 0.8116 and in the corridor of 0.8116 - 0.8150 is the consolidation of the price. The potential value for the top is the level of 0.8201, from which we expect a pullback downwards.
The short-term downward movement is possible in the corridor of 0.7970 - 0.7927 and the breakdown of the latter value will lead to the development of a downward structure. In this case, the first target is 0.7872.
The main trend is the local upward structure of July 26.
Trading recommendations:
Buy: 0.8068 Take profit: 0.8116
Buy: 0.8150 Take profit: 0.8200
Sell: 0.7968 Take profit: 0.7930
Sell: 0.7925 Take profit: 0.7874
For the pair Euro / Yen, the key levels on the scale of H1 are: 132.40, 131.88. 131.62, 130.77, 130.39, 129.71, 129.23 and 128.52. Here, the continuation of the development of the upward structure of July 19 is expected after the passage at the price range of 130.39 - 130.77. In this case, the target is 131.62 and in the corridor of 131.62 - 131.88 is the consolidation of the price. The potential value for the top is the level of 132.40, after reaching which we expect a departure to correction.
The short-term downward movement is possible in the corridor of 129.71 - 129.23 and the breakdown of the latter value will lead to the development of a downward structure. Here, the target is 128.52.
The main trend is the formation of the upward structure of July 19.
Trading recommendations:
Buy: 130.80 Take profit: 131.60
Buy: 131.88 Take profit: 132.40
Sell: 129.70 Take profit: 129.30
Sell: 129.20 Take profit: 128.60
For the Pound / Yen pair, the key levels on the scale of H1 are: 147.61, 146.70, 145.93, 144.53, 143.69, 143.08, 142.22 and 141.77. Here, we follow the development of the downward structure from July 17. At the moment, the price forms an upward structure in the correction. The continuation of the movement downwards is expected after the breakdown of 144.53. In this case, the first target is 143.69. Its breakdown will lead to a movement to the level of 143.10 and near this level is the consolidation of the price. The break level of 143.05 should be accompanied by a pronounced downward movement. Here, the target is 142.22. The potential value for the bottom is the level of 141.77, after which we expect consolidation and a rollback into the correction.
The development of the upstream structure is expected after the breakdown of 145.95. Here, the target is 146.70 and near this level is the consolidation. The potential value for the top is still the level of 147.61.
The main trend is a downward structure from July 17, a stage of deep correction.
Trading recommendations:
Buy: 145.95 Take profit: 146.68
Buy: 146.72 Take profit: 147.60
Sell: 144.50 Take profit: 143.70
Sell: 143.66 Take profit: 143.10