22.07.202009:45 Forex Analysis & Reviews: Fractal analysis of main currency pairs on July 22nd

Forecast for July 22:

Analytical overview of currency pairs on the H1 scale:

The key levels for the euro / dollar pair on the H1 scale are: 1.1619, 1.1564, 1.1539, 1.1498, 1.1466 and 1.1421. Here, we are following the upward structure of July 10. A short-term upward movement is expected in the range of 1.1539 - 1.1564. The breakdown of the last level will lead to a pronounced upward movement. Here, the potential target is 1.1619, reaching which we expect consolidation, as well as a downward pullback.

A short-term downward movement is possible in the range of 1.1498 - 1.1466. The breakdown of the last level will lead to a deep correction. Here, the target is 1.1421. This is a key support level for the top.

The main trend is the upward structure from July 10

Trading recommendations:

Buy: 1.1540 Take profit: 1.1562

Buy: 1.1565 Take profit: 1.1617

Sell: 1.1497 Take profit: 1.1468

Sell: 1.1464 Take profit: 1.1425

The key levels for the pound / dollar pair on the H1 scale are: 1.2885, 1.2823, 1.2778, 1.2709, 1.2632, 1.2582, 1.2543 and 1.2480. Here, we are following the ascending structure for July 14. The continuation of the upward movement is expected after the breakdown of 1.2710, In this case, the target is 1.2778. There is a short-term upward movement, as well as consolidation in the range of 1.2778 - 1.2823. 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

The key levels for the dollar / franc pair on the H1 scale are: 0.9384, 0.9359, 0.9343, 0.9308, 0.9286, 0.9255 and 0.9235. Here, we are following the development of the July 16 downward cycle. A short-term downward movement is expected in the range 0.9308 - 0.9286. The breakdown of the last level will lead to a pronounced downward movement. Here, the target is 0.9255. For the potential value for the bottom, we consider the level of 0.9235. Upon reaching which, we expect consolidation, as well as an upward pullback.

A short-term upward movement is expected in the range of 0.9343 - 0.9359. The breakdown of the last level will lead to a deep correction. Here, the target is 0.9384. 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 : 0.9343 Take profit: 0.9357

Buy : 0.9361 Take profit: 0.9384

Sell: 0.9307 Take profit: 0.9288

Sell: 0.9284 Take profit: 0.9255

The key levels for the dollar / yen pair on the scale are : 107.29, 107.09, 106.95, 106.66, 106.41, 106.10 and 105.90. Here, the price is forming a potential for the downward movement from July 20. The continuation of the downward movement is expected after the breakdown of the level of 106.66. In this case, the target is 106.41. The breakdown 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.

A short-term upward movement is possible in the range of 106.95 - 107.09. The breakdown of the last level will lead to a deep correction. Here, the target is 107.29. This is a key support level for the bottom.

Main trend: formation of the downward potential from July 20

Trading recommendations:

Buy: 106.95 Take profit: 107.07

Buy : 107.11 Take profit: 107.27

Sell: 106.65 Take profit: 106.45

Sell: 106.39 Take profit: 106.15

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

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 an upward pullback.

A short-term downward movement is possible in the range of 0.7121 - 0.7096. The breakdown of the last level 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

The key levels for the euro / yen pair on the H1 scale are: 124.66, 124.26, 123.67, 123.21, 122.56, 122.26 and 121.77. Here, we are following the upward structure on July 10. A short-term upward movement is expected in the range of 123.21 - 123.67. The breakdown of the last level should be accompanied by a pronounced upward movement. Here, the target is 124.26. For the potential value for the top, we consider the level of 124.66. Upon reaching which, we expect consolidation, as well as a downward pullback.

A short-term downward movement is possible in the range of 122.56 - 122.26. The breakdown of the last level will lead to a deep correction. Here, the target is 121.77. This is a key support level for the top.

The main trend is the upward structure from July 10

Trading recommendations:

Buy: 123.22 Take profit: 123.65

Buy: 123.70 Take profit: 124.26

Sell: 122.56 Take profit: 122.28

Sell: 122.24 Take profit: 121.80

The key levels for the pound / yen pair on the H1 scale are : 137.73, 137.25, 136.55, 136.04, 135.48, 135.18 and 134.75. Here, price is forming a pronounced potential for the July 17 high. A short-term upward movement, as well as consolidation are expected in the range of 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. We consider the level of 137.73 as a potential value for the top. Upon reaching which, we expect consolidation, as well as downward pullback.

A short-term downward movement is expected in the range of 135.48 - 135.18. The breakdown of the last level 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: 136.08 Take profit: 136.53

Buy: 136.57 Take profit: 137.25

Sell: 135.48 Take profit: 135.20

Sell: 135.16 Take profit: 134.80