19.07.201903:19 Forex Analysis & Reviews: Fractal analysis of major currency pairs on July 19

Forecast for July 19:

Analytical review of H1-scale currency pairs:

For the euro / dollar pair, the key levels on the H1 scale are: 1.1342, 1.1299, 1.1286, 1.1249, 1.1236, 1.1217, 1.1197 and 1.1169. Here, we follow the formation of the initial conditions for the upward cycle of July 17. Short-term movement to the top is expected in the range of 1.1286 - 1.1299. The breakdown of the last value should be accompanied by a pronounced upward movement. Here, the target is 1.1342, and near this level, we expect consolidation.

Short-term downward movement is possible in the range of 1.1249 - 1.1236. The breakdown of the latter value will lead to a prolonged correction. Here, the goal is 1.1217. This level is a key support for the top. Its price will have to develop the downward structure. In this case, the first goal is 1.1197.

The main trend is the formation of the initial conditions for the upward cycle of July 17.

Trading recommendations:

Buy 1.1286 Take profit: 1.1297

Buy 1.1301 Take profit: 1.1340

Sell: 1.1249 Take profit: 1.1237

Sell: 1.1234 Take profit: 1.1218

For the pound / dollar pair, the key levels on the H1 scale are: 1.2691, 1.2623, 1.2598, 1.2568, 1.2515, 1.2492 and 1.2447. Here, we consider the ascending structure of July 17th as a large initial condition. The continuation of the movement to the top is expected after the breakdown of the level of 1.2568. In this case, the goal is 1.2598. Short-term upward movement, as well as consolidation is in the range of 1.2598 - 1.2623. The breakdown of the level of 1.2623 should be accompanied by a pronounced upward movement. Here, the potential target is 1.2691. From this level, we expect a rollback to the bottom.

Short-term downward movement is expected in the range of 1.2515 - 1.2492. The breakdown of the last value will lead to a prolonged correction. Here, the target is 1.2447. This level is a key support for the upward structure of July 12.

The main trend - the formation of the ascending structure of July 17.

Trading recommendations:

Buy: 1.2568 Take profit: 1.2598

Buy: 1.2600 Take profit: 1.2622

Sell: 1.2515 Take profit: 1.2493

Sell: 1.2490 Take profit: 1.2450

For the dollar / franc pair, the key levels on the H1 scale are: 0.9902, 0.9881, 0.9858, 0.9841, 0.9798, 0.9779, 0.9745 and 0.9731. Here, the next targets for the downward movement we determined from the local structure on July 17th. Short-term downward movement is expected in the range of 0.9798 - 0.9779. The breakdown of the last value should be accompanied by a pronounced downward movement. Here, the goal is 0.9745. For the potential value for the bottom, we consider the level of 0.9731. After reaching which, we expect consolidation, as well as rollback to the top.

Short-term upward movement is possible in the range of 0.9841 - 0.9858. The breakdown of the latter value will lead to in-depth correction. Here, the goal is 0.9881. This level is a key support for the downward structure.

The main trend is the local downward structure of July 17.

Trading recommendations:

Buy : 0.9841 Take profit: 0.9856

Buy : 0.9860 Take profit: 0.9880

Sell: 0.9798 Take profit: 0.9780

Sell: 0.9776 Take profit: 0.9747

For the dollar / yen pair, the key levels on the scale are : 108.12, 107.84, 107.62, 106.98, 106.68, 106.27 and 106.01. Here, we continue to monitor the downward structure of July 10th. Short-term downward movement is expected in the range of 106.98 - 106.68. The breakdown of the last value should be accompanied by a pronounced downward movement. In this case, the goal is 106.27. For the potential value for the bottom, we consider the level of 106.01. After reaching which, we expect a rollback to the top.

Short-term upward trend is possible in the range of 107.62 - 107.84. The breakdown of the last value will lead to a prolonged correction. Here, the goal is 108.12. This level is a key support for the bottom. Its breakdown will have to form an upward trend. Here, the first potential target is 108.42.

The main trend: the downward structure of July 10.

Trading recommendations:

Buy: 107.62 Take profit: 107.82

Buy : 107.85 Take profit: 108.12

Sell: 106.96 Take profit: 106.70

Sell: 106.66 Take profit: 106.27

For the Canadian dollar / US dollar pair, the key levels on the H1 scale are: 1.3105, 1.3070, 1.3050, 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 price passes the noise range 1.3016 - 1.3001. 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.

Short-term upward movement is possible in the range of 1.3050 - 1.3070. The breakdown of the latter value will lead to a prolonged correction. Here, the target is 1.3105. This level is a key support for the bottom.

The main trend - the downward structure of July 9.

Trading recommendations:

Buy: 1.3050 Take profit: 1.3070

Buy : 1.3072 Take profit: 1.3105

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 : 0.7145, 0.7111, 0.7101, 0.7085, 0.7050, 0.7036, 0.7015 and 0.6995. Here, the subsequent targets for the top we determined from the local ascending structure on July 17. The continuation of the movement to the top is expected after the breakdown of the level of 0.7085. In this case, the goal is 0.7101, and near this level is a price consolidation. The passing through the noise range of 0.7101 - 0.7111 will lead to a pronounced movement. Here, the potential target is 0.7145. From this level, we expect a rollback to the bottom.

Short-term downward movement is possible in the range of of 0.7050 - 0.7036. The breakdown of the latter value will lead to a prolonged correction. Here, the target is 0.7015. This level is a key support for the upward structure of July 17.

The main trend is the ascending structure of July 10, the local structure for the top of July 17.

Trading recommendations:

Buy: 0.7085 Take profit: 0.7101

Buy: 0.7111 Take profit: 0.7145

Sell : 0.7050 Take profit : 0.7036

Sell: 0.7034 Take profit: 0.7017

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 continue to monitor the downward structure of July 10th. The continuation of the movement to the bottom is expected after the breakdown of the level of 120.90. In this case, the target is 120.62. Price consolidation is in the range of 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 for 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 range of 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 : 135.63, 135.40, 135.04, 134.79, 134.38, 134.15, 133.81 and 133.44. Here, the price forms the expressed initial conditions for the top of July 18th. Short-term movement to the top is expected in the range of 134.79 - 135.04. The breakdown of the last value should be accompanied by a pronounced upward movement. Here, the target is 135.40. For the potential value for the top, we consider the level of 135.63. After reaching which, we expect consolidation, as well as a rollback to the bottom.

Short-term downward movement, perhaps in the range of 134.38 - 134.15. The breakdown of the latter value will have to develop a downward trend. Here, the goal is 133.81. For the potential value for the bottom, we consider the level of 133.44.

The main trend is the downward cycle of July 9, the formation of potential for the top of July 18.

Trading recommendations:

Buy: 134.80 Take profit: 135.02

Buy: 135.06 Take profit: 135.40

Sell: 134.38 Take profit: 134.17

Sell: 134.12 Take profit: 133.81