Fractal analysis for major currency pairs as of August 7

Dear colleagues.

For the EUR / USD pair, the continuation of the movement downwards is possible after the breakdown of 1.1528. The development of correction is possible after the breakdown of 1.1575. For the GBP / USD pair, we follow the development of the downward cycle from July 26. The continuation of the movement downwards is possible after passing through the price range of the noise range of 1.2904 - 1.2875. 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, 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, we are currently waiting for movement towards the level of 143.33. The level of 144.88 is the key support.

Forecast for August 7:

Analytical review of currency pairs in the scale of H1:

For the EUR / USD pair, the key levels on the scale of H1 are: 1.1622, 1.1602, 1.1575, 1.1560, 1.1528 and 1.1502. Here, we follow the downward cycle of July 31. The continuation of the downward movement is expected after the breakdown of the level of 1.1528. In this case, the target is 1.1502. From this level, we expect a rollback to the correction zone.

We expect the correction to go through after passing through the noise range of 1.1560 - 1.1575. In this case, the target is 1.1602. The potential value for the top is the level of 1.1622, to which we expect the initial conditions for the upward cycle to be formalized.

The main trend is the downward cycle from July 31.

Trading recommendations:

Buy: 1.1575 Take profit: 1.1600

Buy 1.1603 Take profit: 1.1620

Sell: 1.1526 Take profit: 1.1505

Sell: Take profit:

For the GBP / USD pair, the key H1 scale levels are 1.3034, 1.2987, 1.2962, 1.2904, 1.2875, 1.2817 and 1.2772. Here, we follow the downward structure of July 26. Short-term downward movement is expected in the area of 1.2904 - 1.2875. The breakdown of the last value will lead to a pronounced movement. Here, the target is 1.2817. The potential value for the bottom is the level of 1.2772. Upon reaching this level, we expect a rollback to the top.

Short-term upward movement is possible in the area of 1.2962 - 1.2987. The breakdown of the last value will lead to in-depth correction. Here, the target is 1.3034.

The main trend is the downward cycle of July 26.

Trading recommendations:

Buy: 1.2962 Take profit: 1.2986

Buy: 1.2988 Take profit: 1.3032

Sell: 1.2902 Take profit: 1.2877

Sell: 1.2873 Take profit: 1.2774

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 of 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 which consolidation is possible and also a rollback to the top. At the moment, the price is in the final stage 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 an 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, 144.88, 144.48, 143.33, 142.77, 141.98 and 141.49. Here, we follow the development of the downward structure of August 1. At the moment, we expect movement towards the level of 143.33 after reaching a short-term downward movement in the area of 143.33 - 142.77. The breakdown of the level of 142.75 should be accompanied by a pronounced downward movement towards the level of 141.98. The potential value for the bottom is the level of 141.49. From this level, we expect a pullback upward.

Short-term upward movement is possible in the area of 144.48 - 144.88. The breakdown of the last value will lead to in-depth correction. Here, the target is 145.47. This level is the key support for the bottom. Its breakdown will lead to the formation of an upward structure. In this case, the target is 146.07.

The main trend is downward from August 1.

Trading recommendations:

Buy: 144.50 Take profit: 144.85

Buy: 144.90 Take profit: 145.45

Sell: 143.30 Take profit: 142.80

Sell: 142.74 Take profit: 142.00

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