GBP/USD: plan for the European session on July 1. Pound sellers will continue to seek support at a breakdown of 1.2660

To open long positions on GBP/USD you need:

Pound buyers need to maintain the level of 1.2660, and the formation of a false breakout there will be another signal to open long positions. The goal of GBP/USD buyers will be to return to the resistance of 1.2703, which was formed at the end of last week, which will lead to an update of the highs in the region of 1.2741 and 1.2781, where I recommend to take profit. In the scenario of further decline of the pound, it is best to return to long positions on the rebound from the low of 1.2623.

To open short positions on GBP/USD you need:

Taking into account the sum of the G20 summit, bears will once again attempt to break through the support of 1.2660, which will increase the pressure on the pound and lead to an update of the low around 1.2623 and 1.2582, where I recommend taking profits. If in the first half of the day the bulls form an upward correction, you can count on sales from the resistance of 1.2703, provided that a false breakdown is formed, or on a rebound from a high of 1.2741.

Indicator signals:

Moving averages

Trading is below 30 and 50 moving averages, which indicates a downward correction in the pair.

Bollinger bands

The upward correction will be limited to the upper boundary of the channel in the 1.2695 area, while the downward movement may be limited to the lower boundary of the indicator in the 1.2645 area.

analytics5d19b9a48a608.png

Description of indicators

  • MA (moving average) 50 days - yellow
  • MA (moving average) 30 days - green
  • MACD: fast EMA 12, slow EMA 26, SMA 9
  • Bollinger Bands 20
The material has been provided by InstaForex Company - www.instaforex.com

EUR/USD: plan for the European session on July 1. G20 results strengthened the US dollar's position

To open long positions on EURUSD you need:

The decision of the two leaders to continue working on the agreement led to a fall in the EUR/USD pair. The trend is gradually changing. Therefore, at the moment, it's best to expect long positions after updating larger support levels around 1.1311 and 1.1284, but the main objective of the bulls will be to return to a resistance of 1.1348, above which we can talk about a false breakdown of the range of 1348 and a continuation of the medium-term strengthening of the European currency against the US dollar.

To open short positions on EURUSD you need:

Bears broke below the support of 1.1348, and their main task for today will be to keep this range. The formation of a false breakout on it will be a signal to open short positions in continuing the euro's decline in areas of lows at 1.1311 and 1.1284, where I recommend taking profits. If the bulls return to the market and consolidate above the level of 1.1348, for a bearish scenario, all will not be lost. Search for short positions in this case, you can rebound from a resistance of 1.1370, where sellers will try to form the upper limit of the new downward price channel.

Indicator signals:

Moving averages

Trade is conducted below 30 and 50 moving average, which indicates the formation of a bear market.

Bollinger bands

In case of an upward correction, the average indicator boundary around 1.1370 will act as resistance.

analytics5d19b83e5574a.png

Description of indicators

  • MA (moving average) 50 days - yellow
  • MA (moving average) 30 days - green
  • MACD: fast EMA 12, slow EMA 26, SMA 9
  • Bollinger Bands 20
The material has been provided by InstaForex Company - www.instaforex.com

EUR/USD. The outcome of the G20 summit: "everything is fine, beautiful marquise ..?"

The dollar received temporary support following the recent events. This is not only a temporary truce between the United States and China in a trade war: traders also responded to the meeting between Donald Trump and Kim Jong-un. The US president visited North Korea for the first time in history, inviting his odious colleague to the White House. The recession of geopolitical tensions has a beneficial effect on the greenback: the dollar index has returned to the boundaries of the 96th figure, following the dynamics of the yield of 10-year treasuries, which also shows a positive trend.

analytics5d19b22dd85bf.jpg

But despite the relatively good results of Donald Trump's Asian voyage, the downward dynamics of EUR/USD, and in general, the recovery of the dollar should be treated with caution. The market reaction is obviously emotional, while the parties only resumed the negotiation process, but did not solve the key problems in essence. Let me remind you that China and the United States have repeatedly interrupted and resumed negotiations, but each time the dialogue ended with a verbal conflict and another portion of additional fees. According to the overwhelming majority of analysts, after a few weeks, the White House's patience will run out if China doesn't make significant concessions and does not sign the proposed deal.

Relations between Beijing and Washington have been quite cyclical over the past year and a half: at first, Trump threatens to impose additional tariffs, then pushes the realization of his intentions, allowing the contact group to continue negotiations. But when these negotiations come to a standstill, the White House embodies the voiced threats to life, imposing new duties on Chinese imports. Now the situation has returned to the next round of this cycle, and according to most analysts, there is no reason to assume that this time the indicated algorithm of actions will change significantly.

However, judging by the reaction of dollar bulls, the market interpreted the results of the G20 somewhat differently, significantly exaggerating the optimism of recent events. This is primarily due to the situation with Huawei. Trump's decision to end the technological blockade of the telecommunications giant was really unexpected. By and large, due to this factor, the dollar is now gaining momentum, hoping for Beijing's response steps that will lead to a general de-escalation of the conflict. But, as you know, "the devil is in the details."

Just today, the head of the National Economic Council, Larry Kudlow, clarified the White House's position on this issue. He said that the corresponding statement by the President of the United States on allowing the Chinese concern Huawei to buy American products again is not an "unconditional and comprehensive amnesty." According to him, employees of the US Department of Commerce will temporarily provide several additional licenses for the supply of goods "only for the most general purpose." Kudlow said that the issue of national security has not been canceled, therefore all relevant decisions will be made by the Ministry based on this context.

It is also worth noting that this time Trump did not set out the border terms of the negotiation process. In a similar situation that developed at the end of last year, he appointed and postponed the date of the "deadline" several times. This time, the president merely announced that the new duties "will not be introduced so far". This means that at any time the White House can change its position by imposing additional duties on the remaining volume of Chinese imports. When this happens - in a week, two or several months - nobody knows.

analytics5d19b240e3355.jpg

In other words, the geopolitical uncertainty persists, and at the moment the market is only taking advantage of the moment of a thaw in relations between the United States and China. But the risks of a mid-term and long-term decline in the dollar remain, since in fact the parties remained in the same positions as before the G20 summit. In addition, we still do not know how the members of the Federal Reserve interpret the summit results. After all, the effect of the previously introduced additional duties remained in force, and they still have a negative impact on the economies of countries. Therefore, it is likely that the Fed will maintain its intention to lower the interest rate in the foreseeable future (although, perhaps, not in July).

Such prospects limit the growth potential of the US currency. At least, the current price trends should be treated with extreme caution, as the market only regains the positive moments of the past weekend, which, of course, "had a place to be." But in general, the current situation in the foreign exchange market resembles the plot of the song "Everything is fine, beautiful marquise" - the market clearly focused its attention on the positive aspects of the summit, without noticing those key problems that remained unresolved.

Such euphoria can last for several days - or even weeks if the Fed members in their speeches toughen their rhetoric and/or positively evaluate the results of the G20. The first support level is at 1.1300 - this is the middle line of the Bollinger Bands indicator, which coincides with the Tenkan-sen line on the daily chart. The next support level is 1.1280 (the upper limit of the Kumo cloud on the same timeframe). The goal of the upward movement remains the same - 1.1420 (the top line of the Bollinger Bands indicator on D1).

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

Indicator analysis. Daily review of the GBP / USD currency pair for July 1, 2019

Trend analysis (Fig. 1).

On Monday, the price may continue to move up with the first target of 1.2784 - the upper fractal.

analytics5d18b6543b693.png

Fig. 1 (daily schedule).

Comprehensive analysis:

- indicator analysis - up;

- Fibonacci levels - up;

- volumes - down;

- candlestick analysis - up;

- trend analysis - up;

- Bollinger lines - up;

- weekly schedule - up.

General conclusion:

On Monday, the price may continue to move up with the first target of 1.2784 - the upper fractal.

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

USD/CHF approaching resistance, potential drop!

analytics5d19a4d3f0c54.jpg

USDCHF is approaching resistance where we might be seeing a drop below this level.

Entry: 0.9814

Why it's good : Horizontal swing high resistance, 61.8% Fibonacci extension, 38.2% Fibonacci retracement

Stop Loss : 0.9854

Why it's good : Horizontal pullback resistance, 100% Fibonacci extension, 50% Fibonacci retracement

Take Profit : 0.9769

Why it's good: Horizontal pullback support

analytics5d19a4b2acd80.png

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

NZD/USD reversed off resistance, potential drop!

analytics5d19a457058a3.jpg

Price reversed off resistance at 0.6720 where it could potentially drop further to its support at 0.6680.

Entry : 0.6720

Why it's good : 50% Fibonacci retracement, 100% Fibonacci extension, horizontal overlap resistance

Stop Loss : 0.6774

Why it's good : 61.8% Fibonacci retracement

Take Profit : 0.6680

Why it's good : 100% Fibonacci extension, horizontal pullback support

analytics5d19a3e56f957.png

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

USD/JPY reaching support, possible bounce!

analytics5d19a398a9a0d.jpgEntry :108.118

Why it's good : 23.6% Fibonacci retracement

Horizontal pullback support

61.8% Fibonacci extension

Take Profit : 108.73

Why it's good :horizontal swing high resistance

61.8% & 50%Fibonacci retracement

analytics5d19a36f6b449.png

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

Technical analysis of the EUR / USD currency pair for the month of July 2019

In June, after reaching the support line (blue bold line), the price made a rally up. The market, moving up, reached the 13 average EMA - 1.1412 (yellow thin line), but closed below. Here is the line of resistance of the downward channel - 1.1430 (red bold line). It will be difficult to break through this area from the first price attempt. A comprehensive analysis should show where the price will move further.

Trend analysis.

July may begin with a downward movement, with the first target of 1.1305 - the historical level of support (blue dashed line).

analytics5d187f5f9aced.png

Fig. 1 (monthly schedule).

Indicator analysis:

- indicator analysis - down;

- Fibonacci levels - up;

- volumes - down;

- candlestick analysis - down;

- trend analysis - down;

- Bollinger lines - down;

Conclusion of the complex analysis - most likely, the lower work.

The overall result of the calculation of the EUR / USD currency pair candle on the monthly chart: the price is most likely to have a downward trend with the absence of the first upper shadow (the first week of the month is the lower) of the monthly black candle and the second lower shadow (the last week is white).

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

Technical analysis of ETH/USD for 01/07/2019:

Crypto Industry News:

The International Monetary Fund (IMF) believes that Central Banks may issue digital currencies in the future. According to a full document, the IMF and the World Bank conducted a survey on fintech, which asked for answers to financial institutions in all member countries and based its conclusions partly on the 96 responses received.

According to the document, several Central Banks in various countries are considering introducing some form of digital currency. Uruguay has already reportedly launched the CBDC pilot program, while the Bahamas, China, Sweden and Ukraine are "on the verge" of testing their systems.

In addition, many banks conducted research on the potential impact of CBDC on financial stability, the structure of the banking sector, the entry of non-bank financial institutions and the transmission of monetary policy.

Motivation to offer CBDC varies depending on the report. It is said that both emerging economies and developed economies are considering CBDC options, the latter aiming to provide an alternative to cash as its frequency of use decreases. On the other hand, for emerging economies in developing countries, the main effect of CBDC would be to reduce bank costs, as well as potentially increase the availability of banks for citizens without a bank account.

Technical Overview:

The ETH/USD pair is still continuing the horizontal correction after the top of the wave 5 has been made at the level of $362.60 last week. The market is trading right about the middle of the corrective zone, but the bulls are having trouble to rally through the level of $320.74, which is the major technical resistance. Only a clear, impulsive and sustained breakout above this level would be a signal for the uptrend to resume. Otherwise, the correction might be unfolding and evolve into a more complex and time-consuming pattern.

Weekly Pivot Points:

WR3 - $16,315

WR2 - $14,938

WR1 - $12,895

Weekly Pivot - $11,624

WS1 - $9,683

WS2 - $8,320

WS1 - $6,345

Trading Recommendations:

The best strategy in the current market conditions is to trade with the larger timeframe trend, which is still up. All the shorter timeframe moves are being treated as a correction inside of the uptrend. The current cycle is wave 2 of the higher degree, which is a corrective wave and after is completed, the uptrend should resume.

analytics5d19a2ab90144.jpg

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

Technical analysis of GBP/USD pair for the week from July 1 to July 6, 2019

Trend analysis

This week, the price will move up with the first target of 1.2782 on the upper fractal.

analytics5d1888caa1fe8.png

Fig. 1 (weekly schedule).

Comprehensive analysis:

- indicator analysis - up;

- Fibonacci levels - up;

- volumes - up;

- candlestick analysis - up;

- Bollinger lines - up;

- monthly schedule - up.

Conclusion of the complex analysis - upward movement.

The total result of the calculation of the GBP/USD candle on the weekly chart: the price is more likely to have an upward trend for weeks with the presence of the first lower shadow of the weekly white candle (Monday -down) and the absence of the second upper shadow (Friday -up).

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

Indicator analysis. Daily review of the EUR / USD currency pair for July 1, 2019

Trend analysis (Fig. 1).

On Monday, the price may start a downward trend with the first target of 1.1341 - a pullback level of 23.6% (yellow dotted line).

analytics5d18ad5f6e906.png

Fig. 1 (daily schedule).

Comprehensive analysis:

- indicator analysis - down;

- Fibonacci levels - down;

- volumes - down;

- candlestick analysis - down;

- trend analysis - down;

- Bollinger lines - up;

- weekly schedule - down.

General conclusion:

On Monday, the price may start a downward trend with the first target of 1.1341 - a pullback level of 23.6% (yellow dotted line).

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

Technical analysis of EUR/USD pair for the week from July 1 to July 6, 2019

Trend analysis

This week, the price will move down with the first target of 1.1295 with a rolling level of 38.2% (yellow dotted line).

analytics5d1886789fb17.png

Fig. 1 (weekly schedule).

Comprehensive analysis:

- indicator analysis - down;

- Fibonacci levels - down;

- volumes - down;

- candlestick analysis - down;

- trend analysis - down;

- Bollinger lines - down;

- monthly schedule - down.

Conclusion on a comprehensive analysis - a downward movement.

The total result of the calculation of the EUR/USD candle on a weekly schedule: the price is more likely to have a downward trend for weeks with the presence of the first upper shadow at the weekly black candle (Monday - up) and the absence of the second lower shadow (Friday - down).

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

Technical analysis of the GBP/USD pair for the month of July 2019

Trend analysis

In July, it is possible to move up with the first target of 1.2838, which is the recoiling level of 38.2% (yellow dotted line).

analytics5d1881a6e1ac1.jpg

Fig. 1 (monthly schedule).

Indicator analysis:

- indicator analysis - down;

- Fibonacci levels - up;

- volumes - up;

- candlestick analysis - up;

- trend analysis - up;

- Bollinger lines - down;

Conclusion on the complex analysis - the top is possible.

The total result of the calculation of the GBP/USD candle n a monthly schedule: the price is likely to have an upward trend with the absence of the first lower shadow (the first week of the month is white) for the monthly white candle and the absence of the second upper shadow (the last week is white).

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

Technical analysis of BTC/USD for 01/07/2019:

Crypto Industry News:

Steve Forbes, chairman, and editor-in-chief of Forbes Media has published an open letter to Mark Zuckerberg. In the Forbes letter, he strongly encouraged the Facebook cryptographic initiative, stressing Libra's potential to become one of the greatest inventions in the world that could eventually replace the US dollar as a global currency.

At the same time, to become "one of the true breakthroughs in history", Libra must be supported by gold as a basic condition, Forbes argued in the letter, opposing the current Facebook plan to support the coin with a basket of currencies.

According to Forbes, Libra's "device" will be what will make it "the most desirable medium of exchange in the world" because it can be used in everyday transactions as well as in long-term investments.

In his communication, Forbes also warned Zuckerberg that Libra's consultants would most likely criticize the idea of gold support. Forbes finally persuaded Zuckerberg to consider changing Libra's name to "Mark", referring to the unlucky history of the term "Libra". In particular, he reminded that "weight" refers to the weight measurement of the destroyed Roman Empire. On the other hand, the sign of the German empire which was abandoned 20 years ago for the euro and is now "to be won", notes Forbes.

Technical Overview:

The BTC/USD has been having trouble to rally upward again after the 16% correction occurred last week. The price is still trading inside of a tight consolidation zone and there was no rally since then whatsoever. The key short term support is seen at the level of $10,318 and the short-term key technical resistance is seen at the level of $11,307. So far there are no signs of any trend resumption.

Weekly Pivot Points:

WR3 - $16,315

WR2 - $14,938

WR1 - $12,895

Weekly Pivot - $11,624

WS1 - $9,683

WS2 - $8,320

WS1 - $6,345

Trading Recommendations:

The best strategy in the current market conditions is to trade with the larger timeframe trend, which is still up. All the shorter timeframe moves are being treated as a correction inside of the uptrend. The larget correction is just around the corner, as all the major impulsive waves have been completed.

analytics5d19a137721ee.jpg

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

China and the United States made a trade deal

Our predictions for the main event on the G-20 were confirmed: the United States and China concluded an agreement, if not on full peace in trade, at least on a truce.

The US and China have agreed that: Trump will not continue to raise duties on goods from China - while negotiations are underway on trade, which are resuming. Trump allows Huawei to buy technology from US companies, the ban is lifted. In return, China, according to Trump, agreed to buy more agricultural products in the United States.

Thus, the main event of the "twenty" ended with a positive - this is a strong signal for the markets.

We can expect on Monday - the growth of stock markets - and a new wave of falling of the US dollar - the growth of the euro, the pound against the dollar.

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

Trading plan for EURUSD for July 01, 2019

analytics5d199a4914dea.jpg

Technical outlook:

The EURUSD pair has finally broken down after a period of consolidation for several days as depicted above on the hourly chart view. We are expecting an a-b-c corrective drop towards 1.1250/70 levels or further lower. Please note that major support comes in at 1.1180 levels and a break below that would indicate a deeper correction, and we would have to change the view to a larger swing to anticipate the termination of the corrective wave. At this moment, we would respect the upswing between 1.1180 and 1.1412 levels, and expect a bullish turn around 1.1270 levels, which is Fibonacci 0.618 support. It is possible that wave b could have unfolded as a triangle instead of a flat and the recent drop could be termed as a breakout from the triangle consolidation. Those who had taken short positions from 1.1380/1.1400 levels earlier can book partial profits and also lower the risk to at least breakeven. Consider taking full profits around 1.1270 levels where a bullish bounce is possible.

Trading plan:

Remain short from 1.1380/1.1400, bring stop to breakeven and take partial profits, target is 1.1270.

Good luck!

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

Technical analysis of GBP/USD for 01/07/2019:

Technical Overview:

The GBP/USD pair keeps trading inside of the consolidation zone located between the levels of 1.2746 - 1.2652. The market conditions are now oversold, so there is a chance for the market to hold the support at the level of 1.2652 and move higher towards the upper consolidation zone boundary.

Weekly Pivot Points:

WR3 - 1.2870

WR2 - 1.2829

WR1 - 1.2757

Weekly Pivot - 1.2708

WS1 - 1.2629

WS2 - 1.2585

WS1 - 1.2508

Trading Recommendations:

The best strategy for the current market conditions is to buy the corrections in anticipation of the uptrend to resume. This strategy is valid as long as the level of 1.2505 is clearly violated. The larget time frame trend is still down and the recent rally up is the first sign the trend might be reversing. The key long-term technical resistance is seen at the level of 1.2775 and only if this level is violated, there is a chance for the trend reversal.

analytics5d199f085831c.jpg

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

Technical analysis of EUR/USD for 01/07/2019:

Technical Overview:

The EUR/USD pair has finally made a move and this time the bears are in control of the market as the technical support at the level of 1.1343 has been violated. The price has hit the 38% Fibonacci retracement at the level of 1.1323 already and now might be going lower. The next target is seen at the level of 1.1259 (50% Fibonacci retracement) and 1.1260 (61% Fibonacci retracement). The weak and negative momentum support the bearish short-term outlook.

Weekly Pivot Points:

WR3 - 1.1462

WR2 - 1.1438

WR1 - 1.1392

Weekly Pivot - 1.1368

WS1 - 1.1333

WS2 - 1.1302

WS1 - 1.1259

Trading Recommendations:

The best strategy for the current market conditions is to buy the corrections in anticipation of the uptrend to resume. This strategy is valid as long as the level of 1.1181 is clearly violated. The larget time frame trend is still down, but there are signs of the trend reversal and the Ending Diagonal breakout to the upside.

analytics5d199cd2cb081.jpg

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

Elliott wave analysis of GBP/JPY for July 1 - 2019

analytics5d1990083241e.png

GBP/JPY has cleared short-term important resistance at 137.33 indicating that wave 2 completed with the 135.35. Now wave 3 is in motion for a new impulsive rally that ultimately should break above the 148.87 peak.

Short-term support is now seen at 137.20 with important support seen at 136.24. This later support must protect the downside or our bullish view will be frustrated.

R3: 138.50

R2: 138.27

R1: 137.80

Pivot: 137.52

S1: 137.20

S2: 136.76

S3: 136.26

Trading recommendation:

We are long GBP from 137.25 and we have placed our stop at 136.50.

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

Elliott wave analysis of EUR/JPY for July 1 - 2019

analytics5d198ea3926b5.png

EUR/JPY should push higher to challenge short-term important resistance at 123.18 and a break above here will call for acceleration towards 124.18 and 125.26 as the next hurdles on the way higher.

Ultimately we expect the former peak at 127.50 to be broken for a continuation higher to at least 129.60 and likely even closer to 135.02.

Support is now seen at 122.25 and important support is seen at 121.62.

R3: 124.18

R2: 123.75

R1: 123.38

Pivot: 122.90

S1: 122.50

S2: 122.25

S3: 121.90

Trading recommendation:

We are long EUR from 121.98 with our stop placed at 121.60.

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

Technical analysis: Important Intraday Levels For EUR/USD, July 01, 2019

analytics5d1977f170096.jpg

When the European market opens, some economic data will be released such as Unemployment Rate, Private Loans y/y, Italian Monthly Unemployment Rate, M3 Money Supply y/y, Final Manufacturing PMI, German Unemployment Change, German Final Manufacturing PMI, French Final Manufacturing PMI, Italian Manufacturing PMI, and Spanish Manufacturing PMI. The US will also publish the economic data such as ISM Manufacturing Prices, Construction Spending m/m, ISM Manufacturing PMI, and Final Manufacturing PMI, so amid the reports, the EUR/USD pair will move with low to medium volatility during this day. TODAY'S TECHNICAL LEVELS: Breakout BUY Level: 1.1416. Strong Resistance: 1.1409. Original Resistance: 1.1398. Inner Sell Area: 1.1387. Target Inner Area: 1.1360. Inner Buy Area: 1.1333. Original Support: 1.1322. Strong Support: 1.1311. Breakout SELL Level: 1.1304. (Disclaimer)The material has been provided by InstaForex Company - www.instaforex.com

Technical analysis: Important Intraday Levels for USD/JPY, July 01, 2019

analytics5d19778f0a524.jpg

In Asia, Japan will release the Consumer Confidence, Final Manufacturing PMI, Tankan Non-Manufacturing Index, and Tankan Manufacturing Index. The US will also publish some economic data such as ISM Manufacturing Prices, Construction Spending m/m, ISM Manufacturing PMI, and Final Manufacturing PMI. So there is a probability the USD/JPY pair will move with low to medium volatility during this day. TODAY'S TECHNICAL LEVELS: Resistance. 3: 108.78. Resistance. 2: 108.57. Resistance. 1: 108.36. Support. 1: 108.09. Support. 2: 107.88. Support. 3: 107.67.(Disclaimer)The material has been provided by InstaForex Company - www.instaforex.com

Fractal analysis of major currency pairs on July 1

Forecast for July 1:

Analytical review of H1-scale currency pairs:

analytics5d1964a793541.png

For the euro / dollar pair, the key levels on the H1 scale are: 1.1452, 1.1428, 1.1404, 1.1388, 1.1353, 1.1334 and 1.1305. Here, we continue to follow the development of the upward structure of June 18. At the moment, the price is in the correction zone. The continuation of the movement to the top is expected after the price passage of the noise range 1.1388 - 1.1404. In this case, the goal is 1.1428, wherein consolidation is near this level. For the potential value for the top, we consider the level of 1.1452. After reaching which, we expect a departure to the correction.

Short-term downward movement is possible in the range of 1.1353 - 1.1334. The breakdown of the latter value will lead to in-depth correction. Here, the goal is 1.1305. This level is a key support for the top.

The main trend is the upward structure of June 18, the stage of correction.

Trading recommendations:

Buy 1.1405 Take profit: 1.1428

Buy 1.1430 Take profit: 1.1452

Sell: 1.1353 Take profit: 1.1335

Sell: 1.1332 Take profit: 1.1305

analytics5d1964c11ef65.png

For the pound / dollar pair, the key levels on the H1 scale are: 1.2906, 1.2842, 1.2798, 1.2745, 1.2668, 1.2636 and 1.2608. Here, we are following the development of the ascending structure of June 18. At the moment, the price is in correction and forms the potential for the bottom of June 25. We expect a continuation of the upward movement after the breakdown of the level of 1.2745. In this case, the first target is 1.2798. Short-term upward movement is possible in the range 1.2798 - 1.2842. The breakdown of the latter value will lead to movement to the potential target - 1.2906. Upon reaching this level, we expect a rollback to the bottom.

Short-term downward movement is expected in the range of 1.2668 - 1.2636. The breakdown of the last value will lead to a prolonged correction. Here, the target is 1.2608. This level is a key support for the top.

The main trend is the upward structure of June 18, the stage of correction.

Trading recommendations:

Buy: 1.2745 Take profit: 1.2798

Buy: 1.2800 Take profit: 1.2842

Sell: 1.2668 Take profit: 1.2636

Sell: 1.2634 Take profit: 1.2608

analytics5d1964fe295fd.png

For the dollar / franc pair, the key levels on the H1 scale are: 0.9938, 0.9905, 0.9858, 0.9824, 0.9740, 0.9719, 0.9688 and 0.9651. Here, the price forms the potential for upward movement from June 25. Short-term upward movement is expected in the range of 0.9824 - 0.9858. The breakdown of the last value should be accompanied by a pronounced upward movement. Here, the target is 0.9905. For the potential value for the top, we consider the level of 0.9938. After reaching which, we expect consolidation, as well as a possible pullback to the bottom.

The range of 0.9740 - 0.9719 is a key support for the upward structure of June 25. Its price passage will lead to the development of a downward trend. Here, the first target is 0.9688. For the potential value for the bottom, we consider the level of 0.9651.

The main trend is the downward cycle of June 19, the formation of potential for the upward movement of June 25.

Trading recommendations:

Buy : 0.9824 Take profit: 0.9856

Buy : 0.9860 Take profit: 0.9905

Sell: 0.9719 Take profit: 0.9688

Sell: 0.9686 Take profit: 0.9653

analytics5d19651957f34.png

For the dollar / yen pair, the key levels on the scale are : 110.09, 109.56, 109.21, 108.70, 108.04, 107.80 and 107.44. Here, we are following the development of the ascending structure of June 25. The continuation of the movement to the top is expected after the breakdown of the level of 108.70. In this case, the goal is 109.21. Short-term upward movement, as well as consolidation is in the range of 109.21 - 109.56. For the potential value for the top, we consider the level of 110.09. The movement to which is expected after the breakdown of the level of 109.56.

Short-term downward movement, is expected in the range of 108.04 - 107.80. The breakdown of the latter value will lead to in-depth correction. Here, the goal is 107.44. This level is a key support for the top.

The main trend: the ascending structure of June 25.

Trading recommendations:

Buy: 108.70 Take profit: 109.20

Buy : 109.24 Take profit: 109.53

Sell: 108.04 Take profit: 107.82

Sell: 107.78 Take profit: 107.46

analytics5d196559e7328.png

For the Canadian dollar / US dollar pair, the key levels on the H1 scale are: 1.3180, 1.3142, 1.3115, 1.3069, 1.3027, 1.3001 and 1.2961. Here, we continue to monitor the local downward structure of June 25. The continuation of the movement to the bottom is expected after the breakdown of the level of 1.3069. In this case, the goal is 1.3027. Price consolidation is in the range of 1.3027 - 1.3001. For the potential value for the bottom, we consider the level of 1.2961. After reaching which, we expect a rollback to the top.

Short-term upward movement is possible in the range of 1.3115 - 1.3142. The breakdown of the latter value will lead to a prolonged correction. Here, the target is 1.3180. This level is the key resistance for the development of the upward structure. Its breakdown will allow to count on the movement to the potential target - 1.3235.

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

Trading recommendations:

Buy: 1.3115 Take profit: 1.3140

Buy : 1.3143 Take profit: 1.3180

Sell: 1.3067 Take profit: 1.3027

Sell: 1.3001 Take profit: 1.2961

analytics5d1965754ce9a.png

For the pair Australian dollar / US dollar, the key levels on the H1 scale are : 0.7097, 0.7077, 0.7039, 0.7012, 0.6972, 0.6954 and 0.6927. Here, we are following the development of the ascending structure of June 18. The continuation of the movement to the top is expected after the breakdown of the level of 0.7012. In this case, the goal is 0.7039, near this level is a price consolidation. For the breakdown of the level of 0.7040, we must be accompanied by a pronounced upward movement. Here, the goal is 0.7077. For the potential value for the top, we consider the level of 0.7097. Upon reaching this level, we expect a consolidated movement in the range of of 0.7077 - 0.7097, as well as a rollback to the bottom.

Short-term downward movement is possible in the range of 0.6972 - 0.6954. The breakdown of the last value will lead to a prolonged correction. Here, the target is 0.6927. This level is a key support for the top.

The main trend is the upward structure on June 18.

Trading recommendations:

Buy: 0.7012 Take profit: 0.7037

Buy: 0.7041 Take profit: 0.7077

Sell : 0.6972 Take profit : 0.6955

Sell: 0.6952 Take profit: 0.6930

analytics5d1965addb648.png

For the euro / yen pair, the key levels on the H1 scale are: 124.28, 123.73, 123.49, 122.82, 122.63 and 122.28. Here, we are following the development of the ascending structure of June 21. The continuation of the movement to the top is expected after the breakdown of the level of 123.49. In this case, the target is 123.73. Price consolidation is near this level. The breakdown of the level of 123.73 should be accompanied by a pronounced upward movement to the potential target - 124.28.

Short-term downward movement is expected in the range of 122.82 - 122.63. The breakdown of the last value will lead to a prolonged correction. Here, the target is 122.28. This level is a key support for the upward structure.

The main trend is the ascending structure of June 21.

Trading recommendations:

Buy: 123.50 Take profit: 123.72

Buy: 123.75 Take profit: 124.28

Sell: 122.82 Take profit: 122.65

Sell: 122.60 Take profit: 122.30

analytics5d1965c8c8d07.png

For the pound / yen pair, the key levels on the H1 scale are : 139.10, 138.58, 138.21, 137.73, 137.13, 136.88 and 136.49. Here, the subsequent targets for the top we determined from the local ascending structure on June 25th. The continuation of the movement to the top is expected after the breakdown of the level of 137.73. In this case, the target is 138.21. Short-term upward movement, as well as consolidation is in the range of 138.21 - 138.58. For the potential value for the top, we consider the level of 139.10. The movement to which, is expected after the breakdown of the level of 138.58.

Short-term downward movement is possible in the range 137.13 - 136.88. The breakdown of the latter value will lead to a prolonged correction. Here, the target is 136.49. This level is a key support for the top.

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

Trading recommendations:

Buy: 137.75 Take profit: 138.20

Buy: 138.25 Take profit: 138.55

Sell: 137.13 Take profit: 136.90

Sell: 136.85 Take profit: 136.50

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