Fractal analysis of major currency pairs on July 29

Forecast for July 29:

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, 1.1119, 1.1104 and 1.1073. Here, the price is in the correction zone from the downward structure on July 18. The continuation of the movement to the top is expected after the price passes the noise range 1.1162 - 1.1174. In this case, the goal is 1.1195. Price consolidation is near this level. For the potential value for the top, we consider the level of 1.1212.

Short-term downward movement is possible in the range of 1.1119 - 1.1104. The breakdown of the latter value will allow us to expect movement towards a potential target - 1.1073. From this level, we expect a rollback to the top.

The main trend is the local downward structure of July 18, the stage of correction.

Trading recommendations:

Buy 1.1175 Take profit: 1.1195

Buy 1.1197 Take profit: 1.1212

Sell: 1.1119 Take profit: 1.1105

Sell: 1.1103 Take profit: 1.1075

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For the pound / dollar pair, the key levels on the H1 scale are: 1.2448, 1.2415, 1.2398, 1.2354, 1.2315 and 1.2294. Here, we determined the subsequent targets from the downward structure on July 19. The continuation of the movement to the bottom is expected after the breakdown of the level of 1.2354. In this case, the target is 1.2315. For the potential value for the bottom, we consider the level of 1.2294. After reaching which, we expect consolidation, as well as rollback to the top.

Short-term upward movement is possible in the range of 1.2398 - 1.2415. The breakdown of the last value will lead to a deep correction. Here, the target is 1.2448. This level is a key support for the downward structure.

The main trend is the downward cycle of July 19.

Trading recommendations:

Buy: 1.2398 Take profit: 1.2414

Buy: 1.2417 Take profit: 1.2448

Sell: 1.2354 Take profit: 1.2320

Sell: 1.2315 Take profit: 1.2295

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For the dollar / franc pair, the key levels on the H1 scale are: 0.9952, 0.9930, 0.9919, 0.9888, 0.9871 and 0.9850. Here, we are following the development of the ascending structure of July 22. Short-term upward movement is possible in the range of 0.9941 - 0.9952. The breakdown of the latter value will lead to movement to the potential target - 0.9970. From this level, we expect a rollback to the bottom.

Short-term downward movement is possible in the range of 0.9919 - 0.9908. The breakdown of the latter value will lead to a prolonged correction. Here, the target is 0.9888. This level is a key support for the upward structure.

The main trend is the ascending structure of July 22.

Trading recommendations:

Buy : 0.9941 Take profit: 0.9950

Buy : 0.9954 Take profit: 0.9970

Sell: 0.9919 Take profit: 0.9909

Sell: 0.9907 Take profit: 0.9888

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For the dollar / yen pair, the key levels on the scale are : 109.48, 109.29, 108.94, 108.74, 108.54, 108.40, 108.16 and 107.92. Here, we are following the development of the ascending structure of July 18. Short-term upward movement is expected in the range of 108.74 - 108.94. The breakdown of the last value should be accompanied by a pronounced upward movement. In this case, the target is 109.29. We consider the level of 109.48 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 108.54 - 108.40. The breakdown of the last value will lead to a prolonged correction. Here, the goal is 108.16. This level is a key support for the upward structure. Its price passage will have to form the initial conditions for the downward cycle. Here, the potential goal is 107.92.

The main trend: the ascending structure of July 18.

Trading recommendations:

Buy: 108.75 Take profit: 108.92

Buy : 108.95 Take profit: 109.29

Sell: 108.54 Take profit: 108.42

Sell: 108.38 Take profit: 108.16

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For the Canadian dollar / Us dollar pair, the key levels on the H1 scale are: 1.3279, 1.3259, 1.3217, 1.3201, 1.3157, 1.3140, 1.3117 and 1.3085. Here, we determined the subsequent targets from the local ascending structure on July 25th. The continuation of the movement to the top is expected after the price passes the noise range 1.3201 - 1.3217. In this case, the goal is 1.3259. For the potential value for the top, we consider the level of 1.3279. After reaching which, we expect consolidation, as well as a rollback to the bottom.

Short-term downward movement is possible in the range of 1.3157 - 1.3140. The breakdown of the latter value will have to form a downward structure. Here, the first target is 1.3117. For the potential value for the bottom, we consider the level of 1.3085.

The main trend is the local ascending structure of July 25.

Trading recommendations:

Buy: 1.3217 Take profit: 1.3257

Buy : 1.3260 Take profit: 1.3278

Sell: 1.3157 Take profit: 1.3140

Sell: 1.3138 Take profit: 1.3118

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For the Australian dollar / Us dollar pair, the key levels on the H1 scale are : 0.6958, 0.6934, 0.6921, 0.6907, 0.6888 and 0.6852. Here, we follow the development of the downward structure of July 18. Short-term downward movement is expected in the range of 0.6907 - 0.6888. From here, we expect a key turn to the top. The breakdown of the level of 0.6888 will lead to a move to a potential target of 0.6852. But in this case, we expect an unstable trend development.

Short-term upward movement is possible in the range of 0.6921 - 0.6934. The breakdown of the latter value will lead to a prolonged correction. In this case, the target is 0.6958.

The main trend - the downward structure of July 18.

Trading recommendations:

Buy: 0.6921 Take profit: 0.6934

Buy: 0.6936 Take profit: 0.6955

Sell : 0.6905 Take profit : 0.6890

Sell: 0.6884 Take profit: 0.6855

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For the euro /yen pair, the key levels on the H1 scale are: 122.07, 121.62, 121.47, 121.26, 120.92, 120.74 and 120.49. Here, the price forms the initial conditions for the upward movement of July 25. The continuation of the movement to the top is expected after the breakdown of the level of 121.26. In this case, the goal is 121.47. We expect clearance of the expressed structure to the level of 121.62. For the potential value for the top, we consider the level of 122.07. The movement to which is expected after the breakdown of the level of 121.62.

Consolidated movement is possible in the range of 120.92 - 120.74. The breakdown of the last value will lead to a prolonged correction. Here, the goal is 120.49. This level is a key support for the top.

The main trend is the formation of the initial conditions for the upward cycle of July 25.

Trading recommendations:

Buy: 121.26 Take profit: 121.45

Buy: 121.64 Take profit: 122.05

Sell: 120.72 Take profit: 120.54

Sell: 120.45 Take profit: 120.10

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For the pound / yen pair, the key levels on the H1 scale are : 134.93, 134.62, 134.45, 134.24, 134.10, 133.68 and 133.38. Here, we are following the formation of the downward structure of July 25. The continuation of the movement to the bottom is expected after the price passes the noise range 134.24 - 134.10. In this case, the goal is 133.68. We consider the level of 133.38 to be a potential value for the bottom. After reaching which, we expect consolidation, as well as a rollback to the correction.

Short-term upward trend is possibly in the range of 134.45 - 134.62. The breakdown of the last value will lead to a prolonged correction. Here, the goal is 134.93. This level is a key support for the downward structure.

The main trend - the formation of the potential for the bottom of July 25.

Trading recommendations:

Buy: 134.45 Take profit: 134.60

Buy: 136.64 Take profit: 134.90

Sell: 134.10 Take profit: 133.70

Sell: 133.65 Take profit: 133.40

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