FX.co ★ Fractal analysis of major currency pairs on July 31st

Forecast for July 3 1:

Analytical overview of currency pairs on the H1 scale:

The key levels for the euro / dollar pair on the H1 scale are: 1.1944, 1.1917, 1.1869, 1.1842 and 1.1798. Here, we are watching the local upward structure from July 28. A key downward reversal is expected from the range of 1.1917 - 1.1944. A short-term downward movement is expected in the range of 1.1869 - 1.1842. The breakdown of the last level will lead to the development of a correction. Here, the first target is 1.1798. This is the key resistance level for the downward trend and its breakdown will allow us to count on a movement towards the potential target - 1.1697.

The main trend is a local ascending structure from July 28, a correction is expected.

Trading recommendations:

Buy: 1.1918 Take profit: 1.1942

Buy: Take profit:

Sell: 1.1869 Take profit: 1.1842

Sell: 1.1840 Take profit: 1.1798

The key levels for the pound / dollar pair on the H1 scale are 1.3189, 1.3145, 1.3054, 1.2996 and 1.2943. Here, the price approached the limit value for the upward cycle from July 14. A key downward reversal is expected from the range of 1.3145 - 1.3189. The level of 1.3054 is the key support for the upside and its break will lead to a movement to the level of 1.2996. For the potential value for the bottom, we consider the level of 1.2943, to which we expect the initial conditions for the downward cycle to form.

The main trend is an upward cycle from July 14, we expect a correction.

Trading recommendations:

Buy: 1.3145 Take profit: 1.3187

Buy: Take profit:

Sell: 1.3054 Take profit: 1.2998

Sell: 1.2994 Take profit: 1.2944

The key levels for the dollar / franc pair on the H1 scale are: 0.9206, 0.9159, 0.9127, 0.9089 and 09067. Here, the price is near the limit values for the downward cycle from July 16, and therefore, we expect a key upward reversal from the range 0.9067 - 0.9089.

A short-term upward movement is possible in the range of 0.9127 - 0.9159. The breakdown of the last level will allow counting on a movement to a potential target - 0.9206. We expect the initial conditions for an upward cycle to be formed before this level.

The main trend is a downward structure from July 16, we expect a correction.

Trading recommendations:

Buy : 0.9100 Take profit: 0.9126

Buy : 0.9128 Take profit: 0.9159

Sell: Take profit:

Sell: Take profit:

The key levels for the dollar / yen pair on the scale are : 105.52, 105.33, 104.98, 104.65, 104.25 and 104.01. Here, we are following the development of the downward structure from July 20. We expect a key reversal into the correction from the range 104.25 - 104.01. A short-term upward movement is possible in the range of 104.65 - 104.98. The breakdown of the last value will lead to a movement to a potential target - 105.33. We expect the initial conditions for the upward cycle to be formed before the noise range of 105.33 - 105.52.

The main trend is the downward structure from July 20

Trading recommendations:

Buy: 104.65 Take profit: 104.96

Buy : 105.00 Take profit: 105.33

Sell: 104.25 Take profit: 104.03

Sell: Take profit:

The key levels for the Canadian dollar / US dollar pair on the H1 scale are: 1.3556, 1.3522, 1.3497, 1.3460, 1.3441, 1.3401, 1.3378, 1.3351 and 1.3327. Here, price is forming potential for the July 29 upward cycle. The continuation of the upward movement is expected after the price passes the noise range 1.3441 - 1.3460. In this case, the target is 1.3497. Price consolidation is in the range of 1.3497 - 1.3522. For the potential value for the top, we consider the level of 1.3556. Upon reaching which, we expect a downward pullback.

A short-term downward movement is possible in the range of 1.3401 - 1.3378. The breakdown of the last value will lead to a deep correction. Here, the target is 1.3351. This is a key support level for the upward structure and its breakdown will lead to a movement to a potential target of 1.3327.

The main trend is the formation of initial conditions for the top from July 29

Trading recommendations:

Buy: 1.3460 Take profit: 1.3497

Buy : 1.3498 Take profit: 1.3520

Sell: 1.3400 Take profit: 1.3378

Sell: 1.3376 Take profit: 1.3351

The key levels for the Australian dollar / dollar pair on the H1 scale are: 0.7324, 0.7286, 0.7268, 0.7236, 0.7200, 0.7178 and 0.7142. Here, we are following the local bullish structure from July 24. The continuation of the upward movement is expected after the breakdown of the level of 0.7236. In this case, the target is 0.726. Price consolidation is in the range of 0.7268 - 0.7286. We consider the level of 0.7234 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 0.7200 - 0.7178. The breakdown of the last level will encourage the development of a downward structure. In this case, the first target is 0.7142. This is a key support level for the upside.

The main trend is the local upward structure of July 24

Trading recommendations:

Buy: 0.7236 Take profit: 0.7268

Buy: 0.7286 Take profit: 0.7324

Sell : 0.7200 Take profit : 0.7180

Sell: 0.7176 Take profit: 0.7142

The key levels for the euro / yen pair on the H1 scale are: 124.66, 124.26, 123.94, 122.70, 122.26, 121.66, 121.28 and 120.75. Here, the price has entered an equilibrium state. The continuation of the downward movement is expected after the breakdown of the level of 123.29. In this case, the first target is 122.70. The breakdown of which, in turn, will allow counting on the movement to 122.26. Price consolidation is 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. For the potential value for the bottom, we consider the level of 120.75. Upon reaching which, we expect an upward pullback.

A consolidated upward movement is expected in the range of 123.94 - 124.26. The breakdown of the last level 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 an equilibrium situation

Trading recommendations:

Buy: Take profit:

Buy: 124.27 Take profit: 124.65

Sell: 123.27 Take profit: 122.73

Sell: 122.70 Take profit: 122.28

The key levels for the pound / yen pair on the H1 scale are : 138.77, 138.41, 137.73, 137.25 136.62, 136.26 and 135.76. Here, we are following the upward structure from July 17. A short-term upward movement is expected in the range of 137.25 - 137.73. The breakdown of the last level will lead to a pronounced upward movement. Here, the target is 138.41. We consider the level of 138.77 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 expected in the range of 136.62 - 136.26. The breakdown of the last level will lead to a deep correction. Here, the target is 135.76. This is the key support level for the top.

The main trend is the upward structure from July 17

Trading recommendations:

Buy: 137.27 Take profit: 137.70

Buy: 137.75 Take profit: 138.40

Sell: 136.60 Take profit: 136.28

Sell: 136.24 Take profit: 135.76