FX.co ★ Fractal analysis of the major currency pairs for July 26

Dear colleagues.

For the pair Euro / Dollar, the price is still in the correction zone and we expect to see the upward movement after the breakdown of 1.1685. For the Pound / Dollar pair, the potential for the top has been expanded to the level of 1.3140. The pair Dollar / Frank formed a rising structure on July 21. For the Dollar / Yen pair, we follow the formation of the upward structure of July 24. For the pair Euro / Yen, the price restored positions for the upward structure of July 19. For the Pound / Yen pair, the price forms the potential for the top of July 24 in the correction from the descending structure.

Forecast for July 26:

Analytical review of currency pairs in the scale of H1:

For the EUR / USD pair, key levels on the scale of H1 are: 1.1749, 1.1714, 1.1683, 1.1654, 1.1633, 1.1599 and 1.1574. Here, we continue to follow the upward cycle of July 13. The continued upward movement is expected after the breakdown of the level of 1.1683. In this case, the target is 1.1714 and near this level is the consolidation. Hence, the probability of leaving for correction is high. The level of 1.1749 is the potential value for the upward cycle.

The short-term downward movement is possible in the corridor of 1.1654 - 1.1633 and the breakdown of the last value will lead to an in-depth correction. Here, the target is 1.1599 and the range of 1.1599-1.1744 is the key support for the top. Before it, we expect the initial conditions for the downward cycle.

The main trend is the local structure for the top of July 13.

Trading recommendations:

Buy: 1.1685 Take profit: 1.1712

Buy: 1.1716 Take profit: 1.1745

Sell: 1.1654 Take profit: 1.1635

Sell: 1.1630 Take profit: 1.1600

For the Pound / Dollar pair, the key levels on the scale of H1 are: 1.3140, 1.3109, 1.3085, 1.3051, 1.3014, 1.2995, 1.2964 and 1.2911. Here, we expanded the potential for the upward structure from July 20 to the level of 1.3140. The continued upward movement is expected after the breakdown of 1.3051. In this case, the target is 1.3085 and the corridor of 1.3085 - 1.3109 is the consolidation of the price. The breakdown at the level of 1.3110 will allow us to count on the movement to the potential target of 1.3140, from which we expect a pullback downwards.

The short-term downward movement is possible in the corridor of 1.3014 - 1.2995 and the breakdown of the last value will lead to an in-depth correction. Here, the target is 1.2965 and this level is the key support for the upward structure. Its passage at the price will lead to the development of pronounced downward movement and in this case, the first target is 1.2911.

The main trend is the formation of the upward structure of July 20.

Trading recommendations:

Buy: 1.3051 Take profit: 1.3085

Buy: 1.3087 Take profit: 1.3106

Sell: 1.3014 Take profit: 1.2997

Sell: 1.2993 Take profit: 1.2968

For the pair Dollar / Frank, the key levels on the scale of H1 are: 0.9622, 0.9598, 0.9564, 0.9536, 0.9507, 0.9493, 0.9473 and 0.9440. Here, we follow the formation of the upward structure of July 21. The continued upward movement is expected after the breakdown of 0.9536. In this case, the target is 0.9564 and in this range is the consolidation of the price. The breakdown at the level of 0.9565 will allow us to count on the move to the level of 0.9598. The potential value for the top is the level of 0.9622, after which we expect consolidation.

The short-term downward movement is possible in the corridor of 0.9507 - 0.9493 and the breakdown of the last value will lead to an in-depth movement. Here, the target is 0.9473 and this level is the key support for the upward structure.

The main trend is the formation of the upward structure of July 21.

Trading recommendations:

Buy: 0.9536 Take profit: 0.9562

Buy: 0.9566 Take profit: 0.9595

Sell: 0.9492 Take profit: 0.9475

Sell: 0.9470 Take profit: 0.9445

For the pair Dollar / Yen, the key levels on the scale of H1 are: 113.62, 113.20, 112.66, 112.18, 111.74, 111.50, 111.14 and 110.57. Here, we follow the formation of the upward structure of July 24. The continued upward movement is expected after the breakdown of 112.20. In this case, the target is 112.66 and near this level is consolidation. The break level of 112.68 must be accompanied by a pronounced upward movement. Here, the target is 113.20. The potential value for the top is the level of 113.62, upon reaching which we expect the departure to correction.

The short-term downward movement is possible in the corridor of 111.74 - 111.50 and the breakdown of the last value will lead to an in-depth correction. Here, the target is 111.14 and this level is the key support for the top.

The main trend is the formation of the ascending structure of July 24.

Trading recommendations:

Buy: 112.20 Take profit: 112.65

Buy: 112.68 Take profit: 113.20

Sell: 111.50 Take profit: 111.16

Sell: 111.12 Take profit: 110.60

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. 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: 0.8039, 0.7970, 0.7905, 0.7822, 0.7777 and 0.7708. Here, for the time being, we continue to follow the upward structure of May 9. In the range of 0.7905 - 0.7971 is the price consolidation. Hence, the likelihood of avoiding a prolonged correction on the scale of H1 is high. The limiting value for this structure is the level of 0.8039 and the movement to which we regard as unstable.

The short-term downward movement is possible in the corridor of 0.7822 - 0.7777 and the breakdown of the last value will lead to an in-depth correction. Here, the target is 0.7708 and this level is the key support on the scale of H4.

The main trend is the upward structure from May 9, where we expect a correction.

Trading recommendations:

Buy: Take profit:

Buy: Take profit:

Sell: 0.7820 Take profit: 0.7780

Sell: 0.7772 Take profit: 0.7710

For a pair of 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