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Outlook on July 1:
Analytical overview of popular currency pairs on the H1 chart:
The key levels for the EUR/USD pair are 1.1976, 1.1928, 1.1890, 1.1866, 1.1834, 1.1807, 1.1766, 1.1741, and 1.1688. The price has been moving in a downward trend since June 9, but it is currently in a correction. So, we expect a short-term decline in the range of 1.1834 - 1.1807. If the latter is broken, strong movement will continue to the target of 1.1766. After that, the price may consolidate in the 1.1766 - 1.1741 range. The final potential downward target is 1.1688. After reaching it, an upward pullback is possible.
A short-term growth, in turn, is likely in the range of 1.1866 - 1.1890. If the latter is broken, a deep correction will occur. The target is set at 1.1928, which is also the key support level.
The main trend is a local downward trend from June 9.
Trading recommendations:
Buy: 1.1866 Take profit: 1.1890
Buy: 1.1892 Take profit: 1.1928
Sell: 1.1834 Take profit: 1.1808
Sell: 1.1806 Take profit: 1.1767
The key levels for the GBP/USD pair are 1.3932, 1.3889, 1.3863, 1.3823, 1.3786, 1.3734, 1.3710, and 1.3660. The price considers the downward trend from June 23 as the main trend. A consolidated movement is expected in the range of 1.3823 - 1.3786. If the last value is broken, a strong decline will continue to the target of 1.3734. After that, a short-term decline and consolidation can be expected in the range of 1.3734 - 1.3710. The ultimate potential downward target is 1.3660. After reaching it, the price may pull back upwards.
Short-term growth is possible in the 1.3863 - 1.3889 range. If the level of 1.3889 is broken, a deep correction will occur. The target is set at 1.3932, which is also the key support level.
The main trend is the downward trend from June 23.
Trading recommendations:
Buy: 1.3863 Take profit: 1.3888
Buy: 1.3890 Take profit: 1.3930
Sell: 1.3784 Take profit: 1.3736
Sell: 1.3734 Take profit: 1.3711
The key levels for the USD/CHF pair are 0.9291, 0.9269, 0.9234, 0.9212 and 0.9188. The price has been moving in a local bullish trend since June 25. Now, we expect a short-term growth in the range of 0.9269 - 0.9291. If the latter is broken, it will allow us to move to the level of 0.9315. This can be followed by a short-term decline and consolidation in the range of 0.9315 - 0.9331. The final potential upward target is 0.9364. After reaching it, the price may pull back downwards.
A short-term decline can be expected in the range of 0.9234 - 0.9212. If the latter is broken, a deep correction will follow. The target is set at 0.9188, which is also the key support level.
The main trend is the upward trend from June 9, local upward trend from June 25.
Trading recommendations:
Buy: 0.9270 Take profit: 0.9290
Buy: 0.9292 Take profit: 0.9315
Sell: 0.9234 Take profit: 0.9212
Sell: 0.9211 Take profit: 0.9190
The key levels for the USD/JPY pair are 111.94, 111.61, 111.21, 110.97, 110.57, 110.38, and 110.13. The price has been moving in a local upward trend since June 21. We expect this trend to continue after the level of 111.21 is broken. Here, the target is set at 111.61. The ultimate potential upward target is 111.94. After reaching it, the price may consolidate and pull back downwards.
Meanwhile, a short-term decline can be expected in the range of 110.97 - 110.76. If the last value breaks down, a deep correction will occur. The target is set at 110.42, which is also the key support level.
The main trend is the local upward trend from June 21.
Trading recommendations:
Buy: 111.24 Take profit: 111.60
Buy: 111.63 Take profit: 111.94
Sell: 110.97 Take profit: 110.77
Sell: 110.74 Take profit: 110.44
The key levels for the USD/CAD pair are 1.2525, 1.2486, 1.2465, 1.2420, 1.2375, 1.2350, 1.2305, and 1.2250. The price has been moving in a bullish trend since June 23. We expect this trend to resume after the level of 1.2420 is broken. The target is set at 1.2465. After that, short-term growth and consolidation can be expected in the 1.2465 - 1.2486 range. The final potential upward target is 1.2525. After reaching it, a downward pullback is possible.
A short-term decline is expected in the range of 1.2375 - 1.2350. If the last value is broken, a deep correction will occur. The target is set at 1.2305, which is also the key support level.
The main trend is the upward trend from June 23.
Trading recommendations:
Buy: 1.2420 Take profit: 1.2465
Buy: 1.2486 Take profit: 1.2525
Sell: 1.2375 Take profit: 1.2352
Sell: 1.2348 Take profit: 1.2307
The key levels for the AUD/USD pair are 0.7567, 0.7536, 0.7485, 0.7468, 0.7427 and 0.7408. The price has formed a local potential from June 25 for the next development of the downward trend. We expect this trend to develop after the price breaks through the range of 0.7485 - 0.7468. In this case, the target is set at 0.7427. The ultimate potential downward target is 0.7408. After reaching it, the price may consolidate and pull back upwards.
On the other hand, short-term growth is possible in the 0.7516 - 0.7536 range. If the level of 0.7536 is broken, a deep correction will occur. The target is set at 0.7567, which is also the key support level.
The main trend is the local downward trend from June 25.
Trading recommendations:
Buy: 0.7516 Take profit: 0.7534
Buy: 0.7538 Take profit: 0.7565
Sell: 0.7467 Take profit: 0.7430
Sell: 0.7425 Take profit: 0.7408
The key levels for the EUR/JPY pair are 133.64, 133.16, 132.67, 132.45, 132.05, 131.65, 131.32, and 130.74. The price has been moving in a bullish trend since June 21, but it is in a deep correction right now. The upward movement is likely to resume after the level of 132.05 is broken. The first target is set at 132.45. After that, short-term growth can be expected in the range of 132.45 - 132.67. If the last value is broken, strong growth will continue to the target of 133.16. The price may consolidate near it. The ultimate potential upward target is 133.64. After reaching it, a downward pullback can be expected.
The price may consolidate in the range of 131.65 - 131.32. If the latter is broken, the downward trend will develop. The first potential target is 130.74.
The main trend is the upward trend from June 21, deep correction stage.
Trading recommendations:
Buy: 132.05 Take profit: 132.45
Buy: 132.68 Take profit: 133.14
Sell: 131.30 Take profit: 130.80
Sell: 130.65 Take profit: 130.00
The key levels for the GBP/JPY pair are 154.09, 153.63, 152.80, 152.38, 151.97, 151.68, and 151.06. The price has been moving in a downward trend since June 23. Thus, we expect a short-term decline in the range of 152.80 - 152.38. If the last value breaks down, it will allow us to move to the level of 151.97. After that, the price may consolidate in the range of 151.97 - 151.68. The final potential downward target is 151.06. After reaching it, an upward pullback will occur.
In turn, short-term growth is expected in the 153.63 - 154.09 range. We expect the initial conditions for the upward cycle to be formed up to the level of 154.09.
The main trend is the downward trend from June 23, correction stage.
Trading recommendations:
Buy: Take profit:
Buy: 153.65 Take profit: 154.09
Sell: 152.78 Take profit: 152.40
Sell: 152.36 Take profit: 152.00
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