Fractal analysis of main currency pairs on July 23rd

Forecast for July 23:

Analytical overview of currency pairs on the H1 scale:

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The key levels for the euro / dollar pair on the H1 scale are: 1.1662, 1.1619, 1.1564, 1.1539, 1.1498 and 1.1421. Here, we are following the July 10 upward structure. The continuation of the upward movement is expected after the breakdown of the level of 1.1619. In this case, the target is 1.1662. Price consolidation and a pullback into correction are expected from here.

A short-term downward movement is possible in the range of 1.1564 - 1.1539. The breakdown of the last value will lead to a deep correction. Here, the target is 1.1498. This is a key support level for the top.

The main trend is the upward structure from July 10

Trading recommendations:

Buy: 1.1620 Take profit: 1.1660

Buy: Take profit:

Sell: 1.1563 Take profit: 1.1540

Sell: 1.1537 Take profit: 1.1500

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The key levels for the pound / dollar pair on the H1 scale are: 1.2885, 1.2823, 1.2778, 1.2709, 1.2684 and 1.2644. Here, we are following the July 14 rising structure. A short-term upward movement is expected in the range of 1.2778 - 1.2824. For the potential value for the top, we consider the level of 1.2885. Upon reaching which, we expect consolidation, as well as a downward pullback.

A short-term downward movement is possible in the range of 1.2709 - 1.2684. The breakdown of the last level will lead to a deep correction. Here, the target is 1.2644. This is a key support level for the top.

The main trend is the upward cycle from July 14.

Trading recommendations:

Buy: 1.2779 Take profit: 1.2821

Buy: 1.2826 Take profit: 1.2885

Sell: 1.2709 Take profit: 1.2685

Sell: 1.2682 Take profit: 1.2645

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The key levels for the dollar / franc pair on the H1 scale are: 0.9357, 0.9325, 0.9308, 0.9255, 0.9235, 0.9210 and 0.9194. Here, we are following the development of the July 16 downward cycle. At the moment, we expect movement to the level of 0.9255. Upon reaching which, a short-term downward movement in the range of 0.9255 - 0.9235, as well as consolidation are expected. For the potential value for the bottom, we consider the level of 0.9194, from which we expect an upward pullback.

A short-term upward movement is possible in the range of 0.9308 - 0.9325. The breakdown of the last level will lead to a deep correction. Here, the target is 0.9357. This is a key support level for the downward structure from July 16.

The main trend is the descending structure from July 16

Trading recommendations:

Buy : 0.9308 Take profit: 0.9323

Buy : 0.9326 Take profit: 0.9355

Sell: 0.9255 Take profit: 0.9237

Sell: 0.9234 Take profit: 0.9210

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The key levels for the dollar / yen pair on the scale are : 107.76, 107.53, 107.35, 107.09, 106.95, 106.66, 106.41, 106.10 and 105.90. Here, the price entered an equilibrium state: the downward structure from July 20 and the formation of potential for the top from July 21. The breakdown of the level 107.35 will lead to the cancellation of the descending structure and in this case, the first target is 107.53. For the potential value for the top, we consider the level of 107.76. Upon reaching which, we expect consolidation.

A short-term downward movement is possible in the range of 107.09 - 106.95. The breakdown of the last value will favor the subsequent development of a downward structure. In this case, the first target is 106.66. The breakdown of the level 106.66 will lead to a movement to the level of 106.41, the breakout of which should be accompanied by a pronounced downward movement. Here, the target is 106.10. We consider the level of 105.90 as a potential value for the bottom. Upon reaching which, we expect consolidation, as well as an upward pullback.

The main trend is the equilibrium situation.

Trading recommendations:

Buy: 107.35 Take profit: 107.50

Buy : 107.55 Take profit: 107.74

Sell: 107.09 Take profit: 106.96

Sell: 106.92 Take profit: 106.66

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The key levels for the Canadian dollar / US dollar pair on the H1 scale are: 1.3539, 1.3494, 1.3468, 1.3419, 1.3395, 1.3358 and 1.3303. Here, we are following the downward structure from July 14th. A short-term downward movement is expected in the range 1.3419 - 1.3395. The breakdown of the last level will lead to a movement to the level of 1.3358. There is consolidation near this level. We consider the level of 1.3303 as a potential value for the bottom; upon reaching this level, we expect an upward pullback.

A short-term upward movement is possible in the range of 1.3468 - 1.3494. The breakdown of the last level will lead to a deep correction. Here, the target is 1.3539. This is the key support level for the downward structure.

The main trend is the descending structure from July 14

Trading recommendations:

Buy: 1.3468 Take profit: 1.3492

Buy : 1.3500 Take profit: 1.3537

Sell: 1.3419 Take profit: 1.3396

Sell: 1.3393 Take profit: 1.3360

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The key levels for the Australian dollar / dollar pair on the H1 scale are : 0.7222, 0.7178, 0.7157, 0.7121, 0.7096 and 0.7057. Here, we are following the ascending structure on July 14. A short-term upward movement is expected in the range of 0.7157 - 0.7178, hence, there is a high probability of a reversal into the correction. For the potential value for the top, we consider the level of 0.7222. Upon reaching which, we expect a downward pullback.

A short-term downward movement is possible in the range of 0.7121 - 0.7096. The breakdown of the last value will lead to a deep correction. Here, the target is 0.7057. This is a key support level for the top.

The main trend is the local upward structure of July 14

Trading recommendations:

Buy: 0.7058 Take profit: 0.7176

Buy: 0.7185 Take profit: 0.7220

Sell : 0.7120 Take profit : 0.7100

Sell: 0.7094 Take profit: 0.7060

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The key levels for the euro / yen pair on the H1 scale are: 125.37, 124.66, 124.26, 123.67, 123.21, 122.56 and 122.26. Here, we are following the July 10 upward structure. A short-term upward movement is expected in the range 124.26 - 124.66. The breakdown of the last level will allow us to count on a movement to a potential target - 125.37. Upon reaching this level, we expect a downward pullback.

A short-term downward movement is possible in the range of 123.67 - 123.21. The breakdown of the last level will lead to a deep correction. Here, the target is 122.56. The range of 122.56 - 122.26 is the key support for the upside.

The main trend is the upward structure from July 10

Trading recommendations:

Buy: 124.26 Take profit: 124.66

Buy: 124.70 Take profit: 125.35

Sell: 123.65 Take profit: 123.25

Sell: 123.18 Take profit: 122.60

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The key levels for the pound / yen pair on the H1 scale are : 138.41, 137.73, 137.25, 136.55, 136.04, 135.48, 135.18 and 134.75. Here, we are following the July 17 upward structure. A consolidated movement is expected in the range 136.04 - 136.55. The breakdown of the last level should be accompanied by a pronounced upward movement. In this case, the target is 137.25. There is a short-term upward movement in the range of 137.25 - 137.73. For the potential value for the top, we consider the level of 138.41. Upon reaching which, we expect consolidation, as well as a downward pullback.

A short-term downward movement is expected in the range of 135.48 - 135.18. The breakdown of the last value will lead to a deep correction. Here, the target is 134.75. This is a key support level for the top.

The main trend is the upward structure from July 17

Trading recommendations:

Buy: 136.60 Take profit: 137.25

Buy: 137.27 Take profit: 137.70

Sell: 135.16 Take profit: 134.80

Sell: 134.75 Take profit: 134.10

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