Fractal analysis of major currency pairs on July 12

Forecast for July 12:

Analytical review of H1-scale currency pairs:

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For the euro / dollar pair, the key levels on the H1 scale are: 1.1363, 1.1336, 1.1317, 1.1291, 1.1257, 1.1240, 1.1218, 1.1191 and 1.1155. Here, the price forms the ascending structure of July 9. The continuation of the movement to the top is expected after the breakdown of the level of 1.1291. In this case, the goal is 1.1317. Short-term upward movement, as well as consolidation is in the range of 1.1317 - 1.1336 . For the potential value for the top, we consider the level of 1.1363. After reaching which, we expect a rollback to the bottom.

Short-term downward movement is possible in the range of 1.1257 - 1.1240. The breakdown of the latter value will lead to in-depth correction. Here, the goal is 1.1218. This level is a key support for the downward structure. Its breakdown will allow to count on the movement to the level 1.1191.

The main trend is the formation of the ascending structure of July 9.

Trading recommendations:

Buy 1.1291 Take profit: 1.1317

Buy 1.1336 Take profit: 1.1360

Sell: 1.1256 Take profit: 1.1241

Sell: 1.1238 Take profit: 1.1218

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For the pound / dollar pair, the key levels on the H1 scale are: 1.2652, 1.2633, 1.2603, 1.2580, 1.2539, 1.2514, 1.2480 and 1.2438. Here, we are following the development of the ascending structure of July 10. At the moment, we expect to move to the level of 1.2580. Short-term upward movement is possible in the range of 1.2580 - 1.2603. The breakdown of the latter value should be accompanied by a pronounced upward movement. Here, the target is 1.2633. For the potential value for the top, we consider the level of 1.2652. After reaching which, we expect consolidation, as well as a rollback to the bottom.

Consolidated movement is expected in the range of 1.2539 - 1.2514. The breakdown of the last value will lead to a prolonged correction. Here, the target is 1.2480. This level is a key support for the upward structure.

The main trend - the ascending structure of July 10.

Trading recommendations:

Buy: 1.2580 Take profit: 1.2602

Buy: 1.2604 Take profit: 1.2633

Sell: 1.2539 Take profit: 1.2515

Sell: 1.2512 Take profit: 1.2482

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For the dollar / franc pair, the key levels on the H1 scale are: 0.9952, 0.9902, 0.9881, 0.9841, 0.9820, 0.9797 and 0.9779. Here, the price forms the downward structure of July 9 and is currently in correction. The continuation of the movement to the bottom is expected after the breakdown of the level of 0.9841. In this case, the goal is 0.9820. The breakdown of which, in turn, will allow us to count on the movement to 0.9797. For the potential value for the downward trend, we consider the level of 0.9779. Upon reaching this level we expect a rollback to the correction.

Consolidated movement is possible in the range of 0.9902 - 0.9881. The breakdown of the latter value will have to form the initial conditions for the upward cycle. Here, the potential target is 0.9952.

The main trend is the formation of the downward structure of July 9, the stage of correction.

Trading recommendations:

Buy : 0.9910 Take profit: 0.9950

Sell: 0.9840 Take profit: 0.9822

Sell: 0.9818 Take profit: 0.9797

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For the dollar / yen pair, the key levels on the scale are : 108.99, 108.70, 108.42, 108.26, 107.78, 107.58, 107.41, 106.98 and 106.68. Here, we are following the downward structure of July 10th. The continuation of the movement to the bottom is expected after the breakdown of the level of 107.78. Here, the goal is 107.58, and near this level is a price consolidation. A passage at the price of the noise range 107.58 - 107.41 will lead to the development of a pronounced movement. In this case, the goal is 106.98. For the potential value for the bottom, we consider the level of 106.68. From which, we expect a rollback to the top.

Short-term upward movement is possible in the range of 108.26 - 108.42. The breakdown of the last value will lead to a prolonged correction. Here, the target is 108.70. This level is a key support for the top.

The main trend: the formation of a downward structure of July 10.

Trading recommendations:

Buy: 108.26 Take profit: 108.40

Buy : 108.43 Take profit: 108.70

Sell: 107.78 Take profit: 107.58

Sell: 107.40 Take profit: 107.00

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For the Canadian dollar / US dollar pair, the key levels on the H1 scale are: 1.3105, 1.3079, 1.3063, 1.3039, 1.3015, 1.2995 and 1.2970. Here, we are following the formation of the downward structure of July 9th. The continuation of the movement to the bottom is expected after the breakdown of the level of 1.3039. In this case, the target is 1.3015. Short-term downward movement, as well as consolidation is in the range of 1.3015 - 1.2995. For the potential value for the bottom, we consider the level of 1.2970. After reaching which, we expect a rollback to the top.

Short-term upward movement is possible in the range of 1.3063 - 1.3079. The breakdown of the latter value will lead to in-depth correction. Here, the goal is 1.3105. This level is a key support for the downward structure of July 9.

The main trend - the formation of the potential for the downward movement of July 9.

Trading recommendations:

Buy: 1.3063 Take profit: 1.3078

Buy : 1.3081 Take profit: 1.3105

Sell: 1.3039 Take profit: 1.3015

Sell: 1.3013 Take profit: 1.2995

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For the pair Australian dollar / US dollar, the key levels on the H1 scale are : 0.7050, 0.7028, 0.7014, 0.6991, 0.6964, 0.6950, 0.6929 and 0.6900. Here, we follow the formation of the initial conditions for the upward cycle of July 10. The continuation of the movement to the top, is expected after the breakdown of the level of 0.6991. In this case, the goal is 0.7014. Short-term upward movement, as well as consolidation is in the range of 0.7014 - 0.7028. For the potential value for the top, we consider the level of 0.7050.

Short-term downward movement is possible in the range of 0.6964 - 0.6950. The breakdown of the last value will lead to in-depth correction. Here, the goal is 0.6929. This level is a key support for the upward structure.

The main trend is the formation of the ascending structure of July 10.

Trading recommendations:

Buy: 0.6991 Take profit: 0.7014

Buy: 0.7015 Take profit: 0.7026

Sell : 0.6964 Take profit : 0.6952

Sell: 0.6948 Take profit: 0.6930

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For the euro / yen pair, the key levels on the H1 scale are: 122.28, 121.89, 121.67, 121.41, 121.22, 120.92 and 120.48. Here, the price entered an equilibrium state: a mid-term descending structure of July 1. The continuation of the movement to the bottom is expected after passing by the price of the noise range 121.41 - 121.22. In this case, the goal is 120.92, and near this level, there is a consolidation. For the potential value for the bottom, we consider the level of 120.48. After reaching which, we expect a rollback to the top.

Consolidated movement is possible in the range of 121.89 - 122.28. The level of 122.28 is a key support for the downward structure. Its price passage will have to form the initial conditions for the upward cycle.

The main trend is the mid-term descending structure of July 1, the equilibrium state.

Trading recommendations:

Buy: Take profit:

Buy: 121.94 Take profit: 122.28

Sell: 121.22 Take profit: 120.94

Sell: 120.90 Take profit: 120.50

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For the pound / yen pair, the key levels on the H1 scale are : 136.31, 135.87, 135.65, 135.24, 134.99 and 134.50. Here, the price forms a small potential for the top of July 11. The development of this structure is possible after the breakdown of the level of 136.31. Short-term downward movement is expected in the range of 135.24 - 134.99. The breakdown of the last value will allow us to expect movement towards a potential target - 134.50. After reaching this level, we expect a rollback to the top.

Short-term upward movement is possible in the range of 135.87 - 136.31. Up to the level of 136.31, we expect the potential for the upward cycle to be formalized.

The main trend is the downward cycle of July 1, the stage of correction.

Trading recommendations:

Buy: Take profit:

Buy: 135.90 Take profit: 136.30

Sell: 135.24 Take profit: 135.00

Sell: 134.95 Take profit: 134.50

The material has been provided by InstaForex Company - www.instaforex.com