Forecast for July 18:
Analytical review of H1-scale currency pairs:
For the euro / dollar pair, the key levels on the H1 scale are: 1.1283, 1.1251, 1.1233, 1.1195, 1.1169, 1.1137 and 1.1116. Here, the price is in the correction zone from the downward structure on July 15. Continuation of the movement to the bottom is expected after the breakdown at 1.1195. In this case, the goal is 1.1169. Consolidation is near this level. The breakdown of the level 1.1169 should be accompanied by a pronounced downward movement. Here, the target is 1.1137. For a potential value at the bottom, we consider the level 1.1116, after reaching which, we expect consolidation, as well as rollback to the top.
Short-term upward movement is possible in the corridor 1.1233 - 1.1251. The breakdown of the last value will have to form the initial conditions for the upward cycle. Here, the potential target is 1.1283.
The main trend - the formation of potential for the bottom of July 15
Trading recommendations:
Buy 1.1335 Take profit: 1.1250
Buy 1.1253 Take profit: 1.1280
Sell: 1.1195 Take profit: 1.1170
Sell: 1.1167 Take profit: 1.1140
For the pound / dollar pair, the key levels on the H1 scale are: 1.2492, 1.2458, 1.2434, 1.2395, 1.2364 and 1.2337. Here, we are following the downward trend of July 12. Continuation of the movement to the bottom is expected after the breakdown at 1.2395. In this case, the target is 1.2364. For the potential value at the bottom, we consider the level of 1.2337, after reaching which, we expect a rollback to the top.
Short-term upward movement is expected in the corridor 1.2434 - 1.2458. The breakdown of the last value will lead to a prolonged correction. Here, the target is 1.2492. This level is a key support for the downward structure of July 12.
The main trend - the downward structure of July 12.
Trading recommendations:
Buy: 1.2435 Take profit: 1.2457
Buy: 1.2460 Take profit: 1.2492
Sell: 1.2395 Take profit: 1.2365
Sell: 1.2362 Take profit: 1.2337
For the dollar / franc pair, the key levels on the H1 scale are: 0.9952, 0.9902, 0.9881, 0.9841, 0.9820, 0.9797 and 0.9779. Here, we are following the development of the downward structure of July 9. At the moment, the price is in the correction zone. Continuation of the movement to the bottom is expected after the breakdown of 0.9841. In this case, the goal is 0.9820. The breakdown of which, in turn, will allow us to count on the movement to 0.9797. There is a potential value for the downward trend, while we consider the level of 0.9779, and upon reaching this level, we expect a rollback to the correction.
Consolidated movement is possible in the corridor 0.9881 - 0.9902. We expect the formation of the initial conditions for the upward cycle to the level of 0.9902.
The main trend is the formation of the downward structure of July 9, the stage of correction.
Trading recommendations:
Buy : 0.9881 Take profit: 0.9902
Buy : 0.9910 Take profit: 0.9950
Sell: 0.9840 Take profit: 0.9822
Sell: 0.9818 Take profit: 0.9797
For the dollar / yen pair, the key levels on the scale are : 108.42, 108.12, 107.94, 107.58, 107.41, 106.98 and 106.68. Here, we are following the downward structure of July 10. Continuation of the movement to the bottom is expected after the price passes the noise range 107.58 - 107.41. In this case, the goal is 106.98. For the potential value at the bottom, we consider the level of 106.68. From which, we expect a rollback to the top.
Short-term upward movement is possible in the corridor 107.94 - 108.12. The breakdown of the last value will lead to a prolonged correction. Here, the goal is 108.42. This level is a key support for the bottom.
The main trend: the downward structure of July 10.
Trading recommendations:
Buy: 107.94 Take profit: 108.12
Buy : 108.14 Take profit: 108.40
Sell: 107.40 Take profit: 107.00
Sell: 106.96 Take profit: 106.70
For the Canadian dollar / US dollar pair, the key levels on the H1 scale are: 1.3141, 1.3105, 1.3090, 1.3041, 1.3016, 1.3001, 1.2964 and 1.2937. Here, we are following the development of the downward structure of July 9. Continuation of the movement to the bottom is expected after the breakdown level at 1.3041. In this case, the first goal is at level 1.3016. The price passage within the noise range 1.3016 - 1.3001 should be accompanied by a pronounced downward movement. In this case, the target is 1.2964. For the potential value at the bottom, we consider the level of 1.2937, after reaching which, we expect a rollback to the top.
The range 1.3090 - 1.3105 is a key support for the downward structure. Its price passage will have to form an upward structure. In this case, the potential target is 1.3141.
The main trend - the downward structure of July 9.
Trading recommendations:
Buy: 1.3105 Take profit: 1.3140
Sell: 1.3041 Take profit: 1.3016
Sell: 1.3000 Take profit: 1.2965
For the Australian dollar / US dollar pair, the key levels on the H1 scale are : 0.7111, 0.7091, 0.7063, 0.7050, 0.7030, 0.7013, 0.6991 and 0.6969. Here, we are following the development of the ascending structure of July 10. The resumption of the movement to the top is expected after the breakdown of 0.7030. In this case, the first target is 0.7050. Short-term upward movement is possible in the corridor of 0.7050 - 0.7063. The breakdown of the latter value should be accompanied by a pronounced upward movement. In this case, the target is 0.7091. For the potential value to the top, we consider the level of 0.7111, after reaching which, we expect a rollback to the bottom.
Short-term downward movement is possible in the corridor 0.7013 - 0.6991. The breakdown of the latter value will have to form the initial conditions for the downward cycle. Here, the goal is 0.6969.
The main trend - the rising structure of July 10.
Trading recommendations:
Buy: 0.7030 Take profit: 0.7050
Buy: 0.7063 Take profit: 0.7090
Sell : 0.7011 Take profit : 0.6993
Sell: 0.6988 Take profit: 0.6972
For the euro / yen pair, the key levels on the H1 scale are: 121.66, 121.35, 121.18, 120.92, 120.62, 120.48, 120.14 and 119.91. Here, we are following the downward structure of July 10. Continuation of the movement to the bottom is expected after the breakdown of 120.90. In this case, the target is 120.62. Price consolidation is in the corridor 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 at the bottom, we consider the level of 119.91, after reaching which, we expect a rollback to the top.
Short-term upward movement is possible in the corridor 121.18 - 121.35. The breakdown of the latter value will lead to a prolonged correction. Here, the goal is 121.66. This level is a key support for the downward structure.
The main trend - the downward structure of July 10.
Trading recommendations:
Buy: 121.18 Take profit: 121.33
Buy: 121.37 Take profit: 121.66
Sell: 120.90 Take profit: 120.62
Sell: 120.46 Take profit: 120.14
For the pound / yen pair, the key levels on the H1 scale are : 135.04, 134.70, 134.44, 133.56, 133.24 and 132.91. Here, we are following the development of the downward structure from July 9, and at the moment we expect a movement to the level of 133.56. The breakdown of this value will allow us to expect a movement to the level of 133.24, near which, we expect consolidation. We consider the level 132.91 to be a potential value for the bottom. And after reaching this level, we expect a rollback to the correction.
Short-term upward movement is possible in the range of 134.44 - 134.70. The breakdown of the latter value will lead to a prolonged correction. Here, the target is 135.04. This level is a key support for the downward structure.
The main trend is the downward cycle of July 9.
Trading recommendations:
Buy: 134.45 Take profit: 134.65
Buy: 134.72 Take profit: 135.04
Sell: 133.50 Take profit: 133.25
Sell: 133.20 Take profit: 132.91
The material has been provided by InstaForex Company - www.instaforex.com