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Fractal analysis for major currency pairs as of July 20
For the EUR / USD pair, there is a high probability of canceling the downward structure from July 17, for which a...
Dear colleagues.For the EUR / USD pair, there is a high probability of canceling the downward structure from July 17, for which a breakdown of 1.1688 is necessary. For the GBP / USD pair, the continuation of the development of the downward structure from July 16 is expected after the breakdown of 1.2990. For the USD / CHF pair, the situation is in an equilibrium state. We expect its decoupling after 14:00. For the USD / JPY pair, the price is in correction. In order to resume an upward trend,...

Dear colleagues.

For the EUR / USD pair, there is a high probability of canceling the downward structure from July 17, for which a breakdown of 1.1688 is necessary. For the GBP / USD pair, the continuation of the development of the downward structure from July 16 is expected after the breakdown of 1.2990. For the USD / CHF pair, the situation is in an equilibrium state. We expect its decoupling after 14:00. For the USD / JPY pair, the price is in correction. In order to resume an upward trend, local initial conditions are necessary. For the EUR / JPY pair, we follow the downward structure of July 17. For the GBP / JPY pair, we follow the downward structure from July 16. In the morning we expect the move to correction mainly.

The forecast for July 20:

Analytical review of currency pairs in the scale of H1:

analytics5b51581454184.png

For the EUR / USD pair, the key levels on the scale of H1 are: 1.1744, 1.1709, 1.1688, 1.1669, 1.1613, 1.1578, 1.1550 and 1.1517. Here, the price is close to the cancellation of the downward structure from July 17, as it is in the final 8th zone and has formed a small potential for the top. The continuation of the downward movement is expected after the breakdown of 1.1613. In this case, the target is 1.1578. In the area of 1.1578 - 1.1550 the short-term downward movement, as well as is the consolidation of the price. The potential value for the bottom is the level of 1.1517, upon reaching which we expect a pullback upward.

Short-term upward movement is possible in the area of 1.1669 - 1.1688. The breakdown of the last value will lead to in-depth correction. Here, the target is 1.1709. This level is the key support for the downward structure.

The main trend is a downward structure from July 17, a deep correction.

Trading recommendations:

Buy: 1.1670 Take profit: 1.1686

Buy 1.1690 Take profit: 1.1707

Sell: 1.1611 Take profit: 1.1580

Sell: 1.1576 Take profit: 1.1555

analytics5b51582335a92.png

For the GBP / USD pair, the key levels on the H1 scale are 1.3155, 1.3114, 1.3088, 1.3031, 1.2993, 1.2935 and 1.2902. Here, we continue to follow the downward structure of July 16. Short-term downtrend is expected in the area of 1.3031 - 1.2993. The breakdown of the last value should be accompanied by a pronounced movement towards the level of 1.2935, the potential value for the bottom is the level of 1.2902, upon which we expect is the consolidation of the price.

Short-term uptrend is possible in the area of 1.3088 - 1.3114. The breakdown of the last value will lead to in-depth correction. Here, the target is 1.3155. This level is the key support for the bottom.

The main trend is the downward structure of July 16.

Trading recommendations:

Buy: 1.3088 Take profit: 1.3112

Buy: 1.3116 Take profit: 1.3150

Sell: 1.3030 Take profit: 1.2995

Sell: 1.2990 Take profit: 1.2937

analytics5b51582fb8dc5.png

For the USD / CHF pair, the key levels on the scale of H1 are: 1.0029, 1.0002, 0.9987, 0.9957, 0.9935, 0.9921, 0.9879 and 0.9852. Here, the situation has entered the equilibrium state: the downward structure of July 13 and the designed potential for the top of July 17. Decoupling of this situation is expected after 14:00, level 1.0029 is the key resistance for the top, and the level is 0.9957 for the bottom. The continuation of the downward movement is expected after the breakdown of 0.9957. In this case, the target is 0.9935, near this level is the is the consolidation of the price. Passing the price of the noise range 0.9935 - 0.9921 should be accompanied by a pronounced movement towards the level of 0.9879. The potential value for the bottom is the level of 0.9852, the probable date of reaching it is July 18 - 19, upon reaching this level we expect a rollback upward.

Short-term upward movement is possible in the range of 1.0002 - 1.0029, hence we expect a key turn to the bottom. The breakdown at 1.0030 will lead an upward tendency, the target here is 1.0068.

The main trend is the equilibrium situation.

Trading recommendations:

Buy: 1.0002 Take profit: 1.0030

Buy: 1.0032 Take profit: 1.0065

Sell: 0.9955 Take profit: 0.9937

Sell: 0.9918 Take profit: 0.9882

analytics5b51583d16375.png

For the USD / JPY, the key levels on a scale are: 114.16, 113.78, 113.40, 112.68, 112.36, 112.09 and 111.71. Here, for the continuation of the upward movement, we expect the design of the local structure, while the price has entered the corrective zone and forms the potential for a downward movement from July 18. Continuation of the upward trend is possible after the breakdown of 113.01. Here, the first target is 113.40. In the area of 113.40 - 113.78 the short-term upward movement. The potential value for the top is level 114.16, upon reaching which we expect a pullback downwards.

Short-term downward movement is possible in the area of 112.36 - 112.09. The breakdown of the last value will lead to the development of the downward structure. In this case, the potential target is 111.71.

The main trend: the upward structure of July 9, the correction stage.

Trading recommendations:

Buy: 113.01 Take profit: 113.40

Buy: 113.45 Take profit: 113.75

Sell: 112.05 Take profit: 111.75

Sell: Take profit:

analytics5b515849dd01e.png

For the CAD / USD pair, the key levels on the H1 scale are: 1.3395, 1.3370, 1.3330, 1.3303, 1.3246, 1.3218 and 1.3188. Here, we follow the small upward cycle of July 17, which today is already completed its development and on July 21 we expect a correction. Short-term upward movement is possible in the area of 1.3303 - 1.3330. The breakdown of the last value should be accompanied by a pronounced movement towards the level of 1.3370, the potential value for the top is the level of 1.3395, upon reaching which, we expect a pullback downwards.

Short-term downward movement is possible in the area of 1.3246 - 1.3218. The breakdown of the last value will lead to in-depth correction. Here, the target is 1.3188. This level is the key support for the top.

The main trend is the upward cycle from July 17.

Trading recommendations:

Buy: 1.3303 Take profit: 1.3330

Buy: 1.3333 Take profit: 1.3370

Sell: 1.3246 Take profit: 1.3220

Sell: 1.3216 Take profit: 1.3190

analytics5b51585a0017a.png

For the AUD / USD pair, the key levels on the H1 scale are: 0.7434, 0.7410, 0.7380, 0.7355, 0.7318, 0.7287, 0.7243, 0.7218 and 0.7179. Here, we determined the subsequent objectives from the local downward structure on July 19. The continuation of the downward movement is expected after passing the price of the noise range 0.7318 - 0.7287. In this case, the target is 0.7243. In the area of 0.7243 - 0.7218 is the consolidation of the price. The potential value for the bottom is the level of 0.7179, upon reaching this level, we expect a rollback to the top.

Short-term upward movement is possible in the area of 0.7355 - 0.7380. The breakdown of the last value will lead to in-depth correction. Here, the target is 0.7410. This level is the key support for the bottom.

The main trend is the local structure of July 19.

Trading recommendations:

Buy: 0.7380 Take profit: 0.7408

Buy: Take profit:

Sell: 0.7285 Take profit: 0.7245

Sell: 0.7216 Take profit: 0.7180

analytics5b51586a84bb6.png

For the EUR / JPY, the key levels on the scale of H1 are: 131.92, 131.44, 131.20, 130.47, 130.08, 129.77 and 129.39. Here, we follow the development of the downward movement of July 17. The continuation of the movement downwards is expected after the breakdown of 130.47. In this case, the target is 130.08. In the area of 130.08 - 129.77 the consolidation of the price. We consider the level of 129.39 to be a potential value for the downward movement, after which we expect a pullback to the top.

Short-term upward movement is possible in the area of 131.20 - 131.44. The breakdown of the last value will lead to form a local upward structure. In this case, the potential target is 131.92.

The main trend is the downward structure of July 17.

Trading recommendations:

Buy: 131.20 Take profit: 131.40

Buy: 131.46 Take profit: 131.90

Sell: 130.45 Take profit: 130.15

Sell: 130.05 Take profit: 129.80

analytics5b515876d7911.png

For the GBP / JPY pair, the key levels on the scale of H1 are: 148.11, 147.37, 146.89, 145.91, 145.01, 144.33 and 143.46. Here, we continue to follow the downward structure of July 16. The continuation of the downward movement is expected after the breakdown of 145.91. In this case, the target is 145.01. In the area of 145.01 - 144.33 short-term downward movement, as well as is the consolidation of the price. The potential value for the bottom is the level of 143.46, the probable date of reaching it on July 21 and beyond.

Short-term upward movement is possible in the area of 146.90 - 147.37. The breakdown of the last value will lead to in-depth correction. Here, the target is 148.10. This level is the key support for the downward structure.

The main trend is the downward structure of July 16.

Trading recommendations:

Buy: 146.90 Take profit: 147.35

Buy: 147.45 Take profit: 148.10

Sell: 145.90 Take profit: 145.10

Sell: 145.00 Take profit: 144.40

Forex analysis 20 Jul 2018, 10:49 UTC+00
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