17.07.201902:56 Forex Analysis & Reviews: Fractal analysis of major currency pairs on July 17

The forecast for July 17:

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, 1.1221, 1.1195, 1.1169, 1.1137 and 1.1116. Here, the price canceled the development of the ascending structure and at the moment, we are watching the formation of the potential for the bottom of July 15. The continuation of the movement to the bottom is expected after the breakdown of the level of 1.1195. In this case, the goal is 1.1169, wherein consolidation is near this level. The breakdown of the level of 1.1169 should be accompanied by a pronounced downward movement. Here, the target is 1.1137. For the potential value for the bottom, we consider the level of 1.1116. After reaching which, we expect consolidation, as well as rollback to the top.

Short-term upward movement is possible in the range of 1.1221 - 1.1233. The breakdown of the last value will lead to an in-depth correction. Here, the target is 1.1251. This level is a key support for the downward structure. Its breakdown 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 1.1221 Take profit: 1.1232

Buy 1.1335 Take profit: 1.1250

Sell: 1.1295 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, the price canceled the development of the ascending structure and we are following the downward trend of July 12. The continuation of the movement to the bottom is expected after the breakdown of the level of 1.2395. In this case, the target is 1.2364. For the potential value for 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 range of 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. The continuation of the movement to the bottom is expected after the breakdown of the level 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. For the potential value for the downward trend, we consider the level of 0.9779. Upon reaching this level, we expect a rollback to the correction.

Consolidated movement is possible in the range of 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 : 108.99, 108.70, 108.42, 107.78, 107.58, 107.41, 106.98 and 106.68. Here, we are following the downward structure of July 10th. The continuation of the movement to the bottom is expected after the breakdown of the level of 107.78. Here, the goal is 107.58, and near this level is a price consolidation. A passage at the price of the noise range 107.58 - 107.41 will lead to the development of a pronounced movement. In this case, the goal is 106.98. For the potential value for 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 range of 108.42 - 108.70. The breakdown of the latter value will have to form an upward structure. Here, the potential target is 108.99.

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

Trading recommendations:

Buy: 108.43 Take profit: 108.70

Buy : 108.72 Take profit: 108.99

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: 1.3141, 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 9th. The continuation of the movement to the bottom is expected after the breakdown of the level of 1.3041. In this case, the first goal - 1.3016. The price pass of 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 for the bottom, we consider the level of 1.2937. After reaching which, we expect a rollback to the top.

The range of 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

Buy : Take profit:

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, 0.7013, 0.6991 and 0.6969. Here, we are following the development of the ascending structure of July 10. Short-term upward movement is possible in the range 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 range of 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 ascending structure of July 10.

Trading recommendations:

Buy: 0.7050 Take profit: 0.7063

Buy: 0.7065 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: 122.28, 121.89, 121.59, 121.22, 120.92 and 120.48. Here, we are following the downward structure of July 10th. The continuation of the movement to the bottom is expected after the breakdown of the level of 121.22. In this case, the target is 120.92, wherein consolidation is near this level. For the potential value for the bottom, we consider the level of 120.48. After reaching which, we expect a rollback to the top.

Short-term upward movement is possible in the range of 121.59 - 121.89. The breakdown of the latter value will have to the formation of the potential for the top. Here, the goal is 122.28.

The main trend - the downward structure of July 10.

Trading recommendations:

Buy: 121.59 Take profit: 121.87

Buy: 121.94 Take profit: 122.28

Sell: 121.20 Take profit: 120.94

Sell: 120.90 Take profit: 120.50

For the pound / yen pair, the key levels on the H1 scale are : 135.04, 134.70, 134.44, 134.13, 133.94, 133.56 and 133.24. Here, we are following the development of the downward structure of July 9th. The continuation of the movement to the bottom is expected after the price passes the noise range 134.13 - 133.94. In this case, the goal is 133.56. We consider the level of 133.24 to be a potential value for the bottom. After reaching which, we expect a rollback to the top.

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: 133.94 Take profit: 133.56

Sell: 133.50 Take profit: 133.25