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Fractal analysis
Fractal analysis of the main currency pairs for July 13th Aleksey Almazov
2020-07-13 07:00:29
For the euro/dollar pair, the price is close to the cancellation of the downward structure of July 9, which requires a breakdown of the level of 1.1343. For the pound/dollar pair, the continuation of the upward movement is expected after the breakdown of the level of 1.2697. The level of 1.2557 is the key support. For the dollar/franc pair, the price forms the potential for the top of July 9. The level of 0.9427 is the key resistance, while the level of 0.9380 is the key support. For the dollar/yen pair, the continuation of the downward movement is possible after the breakdown of the level of 106.71. The level of 107.20 is the key support. For the euro/yen pair, the price forms the potential for the bottom of July 9. The development of which is possible after the breakdown of the level of 120.51. The level of 121.38 is the key support. For the pound/yen pair, the continuation of the development of the ascending structure from June 29 is expected after the breakdown of the level of 135.50. The level of 134.30 is the key support.
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Wave analysis
Elliott wave analysis of EUR/JPY for July 13, 2020 Torben Melsted
2020-07-13 06:33:32
EUR/JPY may find resistance near 121.44 for renewed downside pressure. After the break below short-term key resistance at 122.10 last week, we have shifted our preferred count to wave 2. A second dip should be expected to 118.23 and maybe even closer to 117.00 before wave 2 finally is completed and a new impulsive rally unfolds. From resistance at 121.44 or upon a break below minor support at 120.65 renewed downside pressure is expected towards 119.78 and 119.26 on the way lower to 118.23.
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