Fractal analysis of major currency pairs on July 24

Forecast for July 24:

Analytical review of H1-scale currency pairs:

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For the euro / dollar pair, the key levels on the H1 scale are: 1.1212, 1.1195, 1.1174, 1.1162, 1.1142, 1.1119, 1.1104 and 1.1073. Here, we continue to follow the development of the downward cycle of July 18. The continuation of the movement to the bottom is expected after the breakdown of the level of 1.1142. In this case, the target is 1.1119. Price consolidation is in the range of 1.1119 - 1.1104. For the potential value for the bottom, we consider the level of 1.1073. The movement to which is expected after the breakdown of the level of 1.1104.

Short-term upward movement is possible in the range of 1.1162 - 1.1174. The breakdown of the latter value will lead to a prolonged correction. Here, the target is 1.1195. We expect the registration of the expressed initial conditions for the ascending cycle to the level of 1.1212.

The main trend is a local downward structure of July 18.

Trading recommendations:

Buy 1.1162 Take profit: 1.1174

Buy 1.1175 Take profit: 1.1195

Sell: 1.1140 Take profit: 1.1120

Sell: 1.1104 Take profit: 1.1075

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For the pound / dollar pair, the key levels on the H1 scale are: 1.2623, 1.2598, 1.2568, 1.2522, 1.2492, 1.2486, 1.2420 and 1.2379. Here, the price is close to the abolition of the ascending structure of July 17, for which the breakdown of the 1.2420 level is necessary. In this case, the first potential target is 1.2379. Short-term upward movement is expected in the range of 1.2468 - 1.2492. The breakdown of the latter value will have to form a local structure for the top. Here, the target is 1.2522. This level is a key resistance for the upward trend. Its breakdown must be accompanied by a pronounced upward movement to the potential target - 1.2568.

The main trend is the formation of the ascending structure of July 17, the stage of deep correction.

Trading recommendations:

Buy: 1.2468 Take profit: 1.2490

Buy: 1.2493 Take profit: 1.2522

Sell: 1.2420 Take profit: 1.2380

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For the dollar / franc pair, the key levels on the H1 scale are: 0.9902, 0.9881, 0.9858, 0.9841, 0.9798, 0.9779, 0.9745 and 0.9731. Here, we continue to follow the formation of the downward structure of July 17. At the moment, the price is in the correction zone and forms a small potential for the top of July 22. The development of which is expected after the breakdown of the level of 0.9881. In this case, the first potential target is 0.9902. Short-term downward movement is expected in the range of 0.9798 - 0.9779. The breakdown of the last value should be accompanied by a pronounced downward movement. Here, the goal is 0.9745. For the potential value for the bottom, we consider the level of 0.9731. After reaching which, we expect consolidation, as well as rollback to the top.

The main trend is the local downward structure of July 17.

Trading recommendations:

Buy : 0.9860 Take profit: 0.9880

Buy : 0.9882 Take profit: 0.9902

Sell: 0.9798 Take profit: 0.9780

Sell: 0.9776 Take profit: 0.9747

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For the dollar / yen pair, the key levels on the scale are : 108.94, 108.72, 108.39, 108.26, 107.97, 107.83 and 107.58. Here, we are following the development of the ascending structure of July 18. The continuation of the movement to the top is expected after the price passage by the noise range of 108.26 - 108.39. In this case, the goal is 108.72. We consider the level of 108.94 to be a potential value for the top. Upon reaching this level, we expect consolidation as well as a rollback to the bottom.

Short-term downward movement is possible in the range of 107.97 - 107.83. The breakdown of the latter value will lead to a prolonged correction. Here, the goal is 107.60. This level is a key support for the upward structure.

The main trend: the ascending structure of July 18.

Trading recommendations:

Buy: 108.40 Take profit: 108.70

Buy : 108.73 Take profit: 108.94

Sell: 107.96 Take profit: 107.84

Sell: 107.81 Take profit: 107.60

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For the Canadian dollar / US dollar pair, the key levels on the H1 scale are: 1.3256, 1.3236, 1.3201, 1.3178, 1.3163, 1.3130, 1.3112 and 1.3085. Here, we are following the ascending structure of July 19th. The continuation of the movement to the top is expected after the passage of the price to the noise range 1.3163 - 1.3178. In this case, the goal - 1.3201, and near this level is a consolidation. The breakdown of the level of 1.3201 will lead to a pronounced movement. Here, the target is 1.3236. For the potential value for the top, we consider the level of 1.3256. Upon reaching which, we expect a rollback to the bottom.

Short-term downward movement is possible in the range of 1.3130 - 1.3112. The breakdown of the latter value will lead to a prolonged correction. Here, the target is 1.3085. This level is a key support for the top.

The main trend is the ascending structure of July 19.

Trading recommendations:

Buy: 1.3178 Take profit: 1.3200

Buy : 1.3203 Take profit: 1.3234

Sell: 1.3130 Take profit: 1.3112

Sell: 1.3110 Take profit: 1.3085

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For the pair Australian dollar / US dollar, the key levels on the H1 scale are : 0.7032, 0.7011, 0.6998, 0.6977, 0.6958, 0.6947 and 0.6924. Here, we follow the development of the downward structure of July 18. The continuation of the movement to the bottom is expected after the breakdown of the level of 0.6977. In this case, the goal is 0.6958. Price consolidation is in the range of 0.6958 - 0.6947. For the potential value for the bottom, we consider the level of 0.6924. After reaching which, we expect a rollback to the top.

Short-term upward movement is possible in the range of 0.6998 - 0.7011. The breakdown of the latter value will lead to a prolonged correction. In this case, the target is 0.7032.

The main trend - the downward structure of July 18.

Trading recommendations:

Buy: 0.6998 Take profit: 0.7010

Buy: 0.7013 Take profit: 0.7030

Sell : 0.6977 Take profit : 0.6958

Sell: 0.6945 Take profit: 0.6926

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For the euro / yen pair, the key levels on the H1 scale are: 121.35, 121.18, 120.86, 120.62, 120.48, 120.14 and 119.91. Here, we continue to monitor the downward structure of July 10. At the moment, the price is in the noise range of 120.62 - 120.48. The breakdown of the level of 120.46 should be accompanied by a pronounced downward movement. Here, the goal is 120.14. For the potential value for the bottom, we consider the level of 119.91. After reaching which, we expect a rollback to the top.

Care in the correction is expected after the breakdown of the level of 120.86. Here, the first target is 121.18. We expect the registration of the expressed initial conditions for the ascending cycle to the level of 121.35.

The main trend - the downward structure of July 10.

Trading recommendations:

Buy: 120.86 Take profit: 121.15

Buy: 121.18 Take profit: 121.35

Sell: 120.48 Take profit: 120.15

Sell: 120.12 Take profit: 119.94

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For the pound / yen pair, the key levels on the H1 scale are : 135.96, 135.63, 135.40, 135.04, 134.79, 134.38, 134.15, 133.81 and 133.44. Here, the price forms the expressed initial conditions for the top of July 18th. Short-term movement to the top is expected in the range of 134.79 - 135.04. The breakdown of the last value should be accompanied by a pronounced upward movement. Here, the target is 135.40. A short-term upward movement, as well as consolidation is in the range of 135.40 - 135.63. We consider the level of 135.96 to be a potential value for the top. Upon reaching this level, we expect consolidation as well as a rollback to the bottom.

Short-term downward movement is perhaps in the range of 134.38 - 134.15. The breakdown of the latter value will have to develop a downward trend. Here, the goal is 133.81. For the potential value for the bottom, we consider the level of 133.44.

The main trend is the downward cycle of July 9, the formation of potential for the top of July 18.

Trading recommendations:

Buy: 135.06 Take profit: 135.40

Buy: 135.42 Take profit: 135.62

Sell: 134.38 Take profit: 134.17

Sell: 134.12 Take profit: 133.81

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