FX.co ★ Fractal analysis of main currency pairs on July 29th

Forecast for July 29 :

Analytical overview of currency pairs on the H1 scale:

The key levels for the euro / dollar pair on the H1 scale are: 1.1781, 1.1758, 1.1695, 1.1668, 1.1636 and 1.1614. Here, the price is in a correction from an upward structure. The continuation of the downward movement is expected after the breakdown of the level of 1.1695. In this case, the target is 1.1668. There is 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.

A short-term upward movement is possible in the range of 1.1758 - 1.1781.

The main trend is the upward structure from July 10, the stage of correction

Trading recommendations:

Buy: 1.1758 Take profit: 1.1780

Buy: Take profit:

Sell: 1.1695 Take profit: 1.1670

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: 1.2962 Take profit: 1.2992

Buy: 1.2996 Take profit: 1.3055

Sell: 1.2914 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, 0.9214, 0.9194, 0.9162, 0.9128 and 0.9089. Here, we are following the development of the July 16 downward cycle. A short-term downward movement is expected in the range 0.9162 - 0.9128, hence, there is a high probability of an upward reversal. For the potential value for the bottom, we consider the level of 0.9089. Upon reaching which, we expect a pullback.

A short-term upward movement is possible in the range of 0.9229 - 0.9260. We expect the initial conditions for an upward cycle to be formed to the level of 0.9260.

The main trend is the downward structure from July 16, the stage of correction

Trading recommendations:

Buy : 0.9230 Take profit: 0.9260

Buy : Take profit:

Sell: 0.9161 Take profit: 0.9132

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 value will lead to a deep correction. Here, the target is at 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.

Main trend: 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 level 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 be formed 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 123.35 - 123.67. The breakdown of the last value will lead to the formation of an upward structure. Here, the target is 124.26. We consider the level of 124.66 to be a potential value for the top.

The main trend is the descending structure from July 22

Trading recommendations:

Buy: 123.35 Take profit: 123.64

Buy: 123.70 Take profit: 124.26

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 upward structure from July 17. At the moment, the price is in the correction area. A short-term upward movement is expected in the range of 136.04 - 136.55. The breakdown of the last value should be accompanied by a pronounced upward movement. In this case, the target is 137.25. There is a short-term upward movement in the range of 137.25 - 137.73. 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: 136.05 Take profit: 136.55

Buy: 136.60 Take profit: 137.25

Sell: 135.16 Take profit: 134.80

Sell: 134.75 Take profit: 134.10