Fractal analysis of major currency pairs on July 5

Forecast for July 5:

Analytical review of H1-scale currency pairs:

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For the euro / dollar pair, the key levels on the H1 scale are: 1.1334, 1.1312, 1.1299, 1.1269, 1.1257, 1.1238, 1.1208 and 1.1191. Here, we continue to monitor the downward structure of June 28. The continuation of the movement to the bottom is expected after the price passes the noise range 1.1269 - 1.1257, and in this case the goal is 1.1238. Price consolidation is near this level. The breakdown at level 1.1236 will allow us to count on a pronounced movement to the level of 1.1208. For the potential value to the bottom, we consider the level of 1.1191, after reaching which, we expect a rollback to the top.

Short-term upward movement is possible in the corridor 1.1299 - 1.1312. The breakdown of the latter value will lead to in-depth correction. Here, the goal is 1.1334. This level is a key support for the downward structure.

The main trend - a local downward structure of June 28.

Trading recommendations:

Buy 1.1300 Take profit: 1.1311

Buy 1.1313 Take profit: 1.1334

Sell: 1.1257 Take profit: 1.1238

Sell: 1.1236 Take profit: 1.1210

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For the pound / dollar pair, the key levels on the H1 scale are: 1.2664, 1.2628, 1.2611, 1.2583, 1.2555 and 1.2514. Here, we are following the development of the downward structure of June 25th. Short-term downward movement is expected in the corridor 1.2583 - 1.2555. For a potential value to the bottom, we consider the level of 1.2514, after reaching which, we expect to go into a correction.

Short-term upward movement is expected in the corridor 1.2611 - 1.2628. The breakdown of the last value will lead to a prolonged correction. Here, the target is 1.2664. This level is a key support for the downward structure.

The main trend - the downward structure of June 25.

Trading recommendations:

Buy: 1.2611 Take profit: 1.2626

Buy: 1.2630 Take profit: 1.2664

Sell: 1.2581 Take profit: 1.2557

Sell: 1.2553 Take profit: 1.2516

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For the dollar / franc pair, the key levels on the H1 scale are: 1.0008, 0.9980, 0.9938, 0.9905, 0.9881, 0.9858, 0.9831 and 0.9802. Here, we continue to follow the development of the upward cycle from June 25, while at the moment, the price is in the correction. Continuation of the movement to the top is expected after the breakdown of 0.9881. In this case, the first goal is 0.9905. The breakdown of which will lead to the movement to the level of 0.9938. Price consolidation is near this level. The breakdown of the level of 0.9938 should be accompanied by a pronounced upward movement. Here, the target is 0.9980. For the potential value to the top, we consider the level of 1.0008, after reaching which, we expect consolidation, as well as a rollback to the correction.

Consolidated movement is possible in the corridor 0.9858 - 0.9831. The breakdown of the latter value will lead to a prolonged correction. Here, the goal is 0.9802. This level is a key support for the top. Itts price will have to develop the downward structure. Here, the potential goal is 0.9738.

The main trend is the upward cycle of June 25, the stage of correction.

Trading recommendations:

Buy : 0.9905 Take profit: 0.9936

Buy : 0.9939 Take profit: 0.9980

Sell: 0.9855 Take profit: 0.9833

Sell: 0.9829 Take profit: 0.9802

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For the dollar / yen pair, the key levels on the H1 scale are : 110.09, 109.56, 109.21, 108.70, 108.29, 107.80, 107.44 and 106.77. Here, we continue to follow the development of the upward structure from June 25. At the moment, the price is in deep correction and is close to canceling this structure, for which a breakdown of the level of 107.44 is necessary, and in this case, the potential target is 106.77. Continuation of the movement to the top is expected after the breakdown at level 108.29. Here, the first goal is 108.70. The breakdown of which will allow and expect us to move to level 109.21. Short-term upward movement, as well as consolidation is in the corridor 109.21 - 109.56 . For the potential value to the top, we consider the level of 110.09, and the movement to which is expected at level 109.56 after the breakdown.

The main trend: the ascending structure of June 25, the stage of deep correction.

Trading recommendations:

Buy: 108.30 Take profit: 108.70

Buy : 108.74 Take profit: 109.20

Sell: 107.41 Take profit: 107.00

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For the Canadian dollar / US dollar pair, the key levels on the H1 scale are: 1.3142, 1.3100, 1.3069, 1.3027, 1.3001, 1.2961, 1.2943 and 1.2894. Here, we continue to monitor the local downward structure of June 25. Short-term downward movement is expected in the corridor 1.3027 - 1.3001. The breakdown of the latter value should be accompanied by a pronounced downward movement. Here, the target is 1.2961. Price consolidation is in the corridor 1.2961 - 1.2943. For the potential value to the bottom, we consider the level of 1.2894, and after reaching this level, we expect a rollback to the top.

Short-term upward movement is possible in the corridor 1.3069 - 1.3100. The breakdown of the latter value will lead to a prolonged correction. Here, the goal is 1.3142. This level is a key support for the downward structure.

The main trend is a local downward structure from June 25.

Trading recommendations:

Buy: 1.3070 Take profit: 1.3100

Buy : 1.3102 Take profit: 1.3140

Sell: 1.3027 Take profit: 1.3003

Sell: 1.2998 Take profit: 1.2961

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For the Australian dollar / US dollar pair, the key levels on the H1 scale are : 0.7097, 0.7077, 0.7039, 0.7010, 0.6990 and 0.6954. Here, the price has issued a local structure for the top of July 1. Continuation of the movement to the top is expected after the breakdown to the level of 0.7039. In this case, the target is 0.7077. For the potential value to the top, we consider the level of 0.7097, and upon reaching this level, we expect a consolidated movement in the corridor of 0.7077 - 0.7097, as well as a rollback to the bottom.

Short-term downward movement is possible in the corridor 0.7010 - 0.6990. The breakdown of the latter value is necessary for the formation of a downward structure. Here, the potential target is 0.6954.

The main trend is a local rising structure of July 1.

Trading recommendations:

Buy: 0.7040 Take profit: 0.7076

Buy: 0.7077 Take profit: 0.7096

Sell : 0.7010 Take profit : 0.6992

Sell: 0.6988 Take profit: 0.6959

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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, we continue to follow the downward cycle of July 1. Continuation of the movement to the bottom is expected after passing by the price of the noise range 121.41 - 121.22, and in this case, the goal is 120.92, near this level is price consolidation. For the potential value to the bottom, we consider the level of 120.48, and after reaching which, we expect a rollback to the top.

Short-term upward movement is expected in the corridor 121.67 - 121.89. The breakdown of the last value will lead to a prolonged correction. Here, the goal is 122.28. This level is a key support for the downward structure.

The main trend is the downward cycle of July 1.

Trading recommendations:

Buy: 121.67 Take profit: 121.87

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, we are following a downward cycle of July 1. Short-term downward movement is expected in the range of 135.24 - 134.99. The breakdown of the last value will allow and expect a movement towards a potential target - 134.50, and after reaching this level, we expect a rollback to the top.

Short-term upward movement is possible in the range of 135.65 - 135.87. The breakdown of the latter value will lead to a prolonged correction. Here, the target is 136.31. This level is a key support for the downward structure.

The main trend is the downward cycle of July 1.

Trading recommendations:

Buy: 135.65 Take profit: 135.85

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