16.07.201904:59 Forex Analysis & Reviews: Fractal analysis of major currency pairs on July 16

Forecast for July 16:

Analytical review of H1-scale currency pairs:

For the euro / dollar pair, the key levels on the H1 scale are: 1.1363, 1.1336, 1.1317, 1.1291, 1.1257, 1.1240, 1.1218, 1.1191 and 1.1155. Here, the price forms the ascending structure of July 9. Continuation of the movement to the top is expected after the breakdown at level 1.1291. In this case, the goal is 1.1317. Short-term upward movement, as well as consolidation, is in the corridor 1.1317 - 1.1336. For the potential value to the top, we consider the level of 1.1363, after reaching which, we expect a rollback to the bottom.

Short-term downward movement is possible in the corridor 1.1257 - 1.1240. The breakdown of the latter value will lead to in-depth correction. Here, the goal is 1.1218. This level is a key support for the downward structure. Its breakdown will allow to count on the movement to the level 1.1191.

The main trend is the formation of the ascending structure of July 9.

Trading recommendations:

Buy 1.1291 Take profit: 1.1317

Buy 1.1336 Take profit: 1.1360

Sell: 1.1256 Take profit: 1.1241

Sell: 1.1238 Take profit: 1.1218

For the pound / dollar pair, the key levels on the H1 scale are: 1.2652, 1.2633, 1.2603, 1.2580, 1.2514, 1.2480 and 1.2438. Here, we continue to follow the development of the ascending structure of July 10. Short-term upward movement is possible in the corridor 1.2580 - 1.2603. The breakdown of the latter value should be accompanied by a pronounced upward movement. Here, the target is 1.2633. For the potential value to the top, we consider the level of 1.2652, after reaching which, we expect consolidation, as well as a rollback to the bottom.

Short-term downward movement is expected in the corridor 1.2514 - 1.2480. Hence, there is a high probability of a reversal to the top. The breakdown level of 1.2480 will have to form the initial conditions for the downward cycle. In this case, the potential target is 1.2438.

The main trend - the rising structure of July 10.

Trading recommendations:

Buy: 1.2580 Take profit: 1.2602

Buy: 1.2604 Take profit: 1.2633

Sell: 1.2512 Take profit: 1.2482

Sell: 1.2478 Take profit: 1.2440

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. 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. 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.

The main trend - the formation of a downward structure of July 9.

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 : 108.99, 108.70, 108.42, 108.26, 107.78, 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 breakdown 107.78. Here, the goal is 107.58. Price consolidation is near this level. A passage at the price of the noise range 107.58 - 107.41 will lead to the development of a pronounced motion. In this case, the goal is 106.98. For the potential value to the bottom, we consider the level of 106.68. And from which, we expect a rollback to the top.

Short-term upward movement is possible in the corridor 108.26 - 108.42. The breakdown of the last value will lead to a prolonged correction. Here, the target is 108.70. This level is a key support for the top.

The main trend: the formation of a downward structure of July 10.

Trading recommendations:

Buy: 108.26 Take profit: 108.40

Buy : 108.43 Take profit: 108.70

Sell: 107.78 Take profit: 107.58

Sell: 107.40 Take profit: 107.00

For the Canadian dollar / US dollar pair, the key levels on the H1 scale are: 1.3105, 1.3090, 1.3063, 1.3048, 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 price passes the noise range 1.3016 - 1.3001. In this case, the target is 1.2964. For the potential value to the bottom, we consider the level of 1.2937. After reaching which, we expect a rollback to the top.

Short-term upward movement is possible in the corridor 1.3048 - 1.3063. The breakdown of the latter value will lead to a deep correction. Here, the target is 1.3090. The range 1.3090 - 1.3105 is a key support for the downward structure of July 9.

The main trend - the downward structure of July 9.

Trading recommendations:

Buy: 1.3048 Take profit: 1.3062

Buy : 1.3065 Take profit: 1.3090

Sell: 1.3000 Take profit: 1.2965

Sell: 1.2962 Take profit: 1.2938

For the Australian dollar / US dollar pair, the key levels on the H1 scale are : 0.7111, 0.7091, 0.7063, 0.7050, 0.7028, 0.7013 and 0.6991. Here, we are following the development of the ascending structure of July 10. 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 for 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 0.7028 - 0.7013. Breaking the last value will lead to in-depth correction. Here, the target is 0.6991. This level is a key support for the upward structure.

The main trend - the rising structure of July 10.

Trading recommendations:

Buy: 0.7050 Take profit: 0.7063

Buy: 0.7065 Take profit: 0.7090

Sell : 0.7027 Take profit : 0.7015

Sell: 0.7011 Take profit: 0.6993

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, the price entered an equilibrium state: a mid-term descending structure 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 In this case, the goal is 120.92. There is consolidation near this level. For the potential value to the bottom, we consider the level of 120.48. After reaching which, we expect a rollback to the top.

Consolidated movement is possible in the corridor 121.89 - 122.28. Key support for the downward structure is at level 122.28. Its price passage will have to form the initial conditions for the upward cycle.

The main trend is the mid-term descending structure of July 1, the formation of potential for the bottom of July 10.

Trading recommendations:

Buy: 121.94 Take profit: 122.28

Sell: 121.22 Take profit: 120.94

Sell: 120.90 Take profit: 120.50

For the pound / yen pair, the key levels on the H1 scale are : 135.81, 135.46, 135.23, 134.90, 134.70, 134.44 and 134.13. Here, the next targets for the downward movement are determined from the local structure on July 9. Short-term downward movement is expected in the range of 134.90 - 134.70. The breakdown of the last value will lead to the movement to the level of 134.44. Consolidation is near this level. For the potential value to the bottom, we consider the level 134.13. The movement to which is expected after the breakdown at level 134.40.

Short-term upward movement is possible in the range of 135.23 - 135.46. The breakdown of the latter value will lead to a prolonged correction. Here, the goal is 135.81. This level is a key support for the downward structure.

The main trend is the downward cycle of July 1, the stage of correction.

Trading recommendations:

Buy: 135.23 Take profit: 135.44

Buy: 135.48 Take profit: 135.80

Sell: 134.90 Take profit: 134.70

Sell: 134.68 Take profit: 134.45