Dear colleagues.
For the EUR / USD pair, the continuation of the movement downwards following the breakdown of 1.1558 is considered as an upward movement correction. For the GBP / USD pair, we follow the development of the downward cycle from July 26. The continuation of the downward movement after the breakdown of 1.3000. For the USD / CHF pair, we follow the upward structure of July 31. The level of 0.9917 is the key support. For the USD / JPY pair, we follow the development of the downward structure from August 1. For the EUR / JPY pair, we follow the downward structure from July 31. The continuation of the downward movement is expected after the breakdown of 128.36. For the GBP / JPY pair, the downward structure of August 1 is considered as a medium-term structure.
Forecast for August 6:
Analytical review of currency pairs in the scale of H1:
For the EUR / USD pair, the key levels on the scale of H1 are: 1.1649, 1.1622, 1.1602, 1.1575, 1.1560 and 1.1528. Here, we follow the downward cycle of July 31. The continuation of the downward movement is expected after passing the price of the noise range of 1.1575-1.1560. In this case, the target is 1.1528. Upon reaching this level, we expect a rollback to the top.
Short-term upward movement is possible in the area of 1.1602 - 1.1622. The breakdown of the last value will lead to in-depth correction. Here, the target is 1.1649.
The main trend is the downward cycle from July 31.
Trading recommendations:
Buy: 1.1602 Take profit: 1.1620
Buy 1.1625 Take profit: 1.1647
Sell: 1.1560 Take profit: 1.1530
Sell: Take profit:
For the GBP / USD pair, the key levels on the scale of H1 are 1.3094, 1.3057, 1.3034, 1.3001, 1.2950, 1.2904 and 1.2875. Here, we follow the downward structure of July 26. The continuation of the downward movement is expected after the breakdown of 1.3000. In this case, the target is 1.2950. Near this level is the consolidation of the price. The potential value for the bottom is the level of 1.2875. After reaching this level, we expect consolidation in the area of 1.2904 - 1.2875, as well as a rollback to the top.
Short-term upward movement is possible in the area of 1.3035 - 1.3057. The breakdown of the last value will lead to in-depth correction. Here, the target is 1.3094.
The main trend is the downward cycle of July 26.
Trading recommendations:
Buy: 1.3035 Take profit: 1.3055
Buy: 1.3060 Take profit: 1.3092
Sell: 1.3000 Take profit: 1.2960
Sell: 1.2948 Take profit: 1.2905
For the of USD / CHF pair, the key levels in the scale of H1 are: 1.0043, 1.0027, 1.0003, 0.9985, 0.9975, 0.9947, 0.9935 and 0.9917. Here, we follow the upward movement of July 31. The continuation of the upward movement is expected after passing through the noise range of 0.9975 - 0.9985. In this case, the target is 1.0003. Near this level is the consolidation of the price. The breakdown at 1.0005 will allow us to count on the movement towards the potential target of 1.0043. Upon reaching this level, we expect consolidation in the area of 1.0027 - 1.0043, as well as a pullback downwards.
Consolidated traffic is possible in the area of 0.9947 - 0.9935. The breakdown of the last value will lead to in-depth correction. Here, the target is 0.9917. This level is the key support for the top.
The main trend is the upward structure of July 31.
Trading recommendations:
Buy: 0.9985 Take profit: 1.0000
Buy: 1.0005 Take profit: 1.0026
Sell: Take profit:
Sell: 0.9933 Take profit: 0.9920
For the USD / JPY pair, the key levels on a scale are: 112.14, 111.76, 111.54, 111.09, 110.79, 110.58 and 110.14. Here, we follow the downward structure of August 1. The continuation of the downward movement is expected after the breakdown of 111.09. In this case, the target is 110.79. In the area of 110.79 - 110.58 is the consolidation of the price. The potential value for the bottom is the level of 110.14. The movement towards this level is expected after the breakdown of 110.55.
Short-term upward movement is possible in the range of 111.54 - 111.76. The breakdown of the last value will lead to an upward structure. In this case, the first potential target is 112.14.
The main trend is a downward cycle from August 1.
Trading recommendations:
Buy: 111.55 Take profit: 111.74
Buy: 111.78 Take profit: 112.12
Sell: 111.07 Take profit: 111.80
Sell: 110.56 Take profit: 110.20
For the CAD / USD pair, the key levels on the H1 scale are: 1.3158, 1.3131, 1.3080, 1.3052, 1.2988, 1.2945, 1.2881 and 1.2845. Here, the price is in an equilibrium state. Short-term downward movement is possible in the range of 1.2988 - 1.2945. We consider the level of 1.2881 to be a potential value for the downward trend. After reaching this level, consolidation is possible and also a rollback to the top. At the moment, the price is in the final in the 8th time zone for the downward structure from July 20.
Short-term upward movement is possible in the area of 1.3052 - 1.3080. The breakdown of the last value will lead to in-depth correction. Here, the target is 1.3131. The range of 1.3131 - 1.3158 is the key support for the top.
The main trend is the equilibrium state, we expect a withdrawal to the top.
Trading recommendations:
Buy: Take profit:
Buy: 1.3085 Take profit: 1.3130
Sell: 1.2985 Take profit: 1.2945
Sell: 1.2942 Take profit: 1.2884
For the AUD / USD pair, the key levels on the H1 scale are: 0.7592, 0.7551, 0.7522, 0.7477, 0.7434, 0.7410, 0.7381, 0.7356 and 0.7324. Here, the situation has entered the equilibrium state. The continuation of the upward movement is expected after the breakdown of 0.7434. In this case, the first target is 0.7477. Near this level is the consolidation of the price. The breakdown of 0.7477 will allow us to count on the movement towards 0.7522. In the area of 0.7522 - 0.7551 is short-term upward movement, as well as the consolidation of the price. The potential value for the top is the level of 0.7592. After reaching this level, we expect a pullback downwards.
Consolidated traffic is possible in the area of 0.7381 - 0.7356. The breakdown of the last value will lead to the development of a downward structure. Here, the first target is 0.7324.
The main trend is the equilibrium state.
Trading recommendations:
Buy: 0.7436 Take profit: 0.7475
Buy: 0.7480 Take profit: 0.7520
Sell: 0.7378 Take profit: 0.7358
Sell: 0.7354 Take profit: 0.7326
For the of EUR / JPY pair, the key levels on the scale of H1 are: 129.83, 129.62, 129.26, 128.96, 128.60, 128.38, 127.92 and 127.56. Here, we follow the downward cycle of July 31. The continuation of the downward movement is expected after passing through the noise range of 128.60 - 128.38. In this case, the target is 127.92. The potential value for the bottom is the level of 127.56. Upon reaching this level, we expect a rollback to the top.
Short-term upward movement is possible in the area of 128.96 - 129.26. The breakdown of the last value will lead to in-depth correction. Here, the target is 129.62. The range of 129.62 - 129.83 is the key support for the downward structure.
The main trend is the downward structure of July 31.
Trading recommendations:
Buy: 128.98 Take profit: 129.20
Buy: 129.30 Take profit: 129.60
Sell: 128.36 Take profit: 127.95
Sell: 127.88 Take profit: 127.58
For the GBP / JPY pair, the key levels on the scale of H1 are: 146.07, 145.47, 145.12, 144.48, 144.13, 143.33 and 142.77. Here, the downward structure of August 1 was considered as a large initial condition. The continuation of the downward movement is expected after passing through the noise range of 144.48 - 144.13. In this case, the target is 143.33. The potential value for the bottom is the level of 142.77. Upon reaching this level, we expect a rollback to the top.
Short-term upward movement is possible in the area of 145.12 145.47. The breakdown of the last value will lead to in-depth correction. Here, the target is 146.07. This level is the key support for the bottom.
The main trend is downward from August 1.
Trading recommendations:
Buy: 145.12 Take profit: 145.45
Buy: 145.60 Take profit: 146.00
Sell: 144.10 Take profit: 143.40
Sell: 143.30 Take profit: 142.80
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