Dear colleagues.
For the pair Euro / Dollar, the potential value for the top is at 1.1969. For the Pound / Dollar pair, we follow the formation of the downward structure of August 3. For the pair Dollar / Franc, the price is still in correction from the upward structure. For the Dollar / Yen pair, we follow the downward cycle from July 26. The price for the current moment is in correction and the level of 111.32 is the key support. For the pair Euro / Yen, we expect the move to the level of 131.62. For the Pound / Yen pair, we follow the formation of the downward structure of August 2.
Forecast for August 4:
Analytical review of currency pairs in the scale of H1:
For the EUR / USD pair, the key levels on the scale of H1 are: 1.1969, 1.1917, 1.1849, 1.1816, 1.1761 and 1.1705. Here, we continue to follow the development of the upward structure of July 26. The continued upward movement is expected after the breakdown of 1.1917. In this case, the potential target is 1.1969 and from this level we expect a correction.
The short-term downward movement is possible in the corridor of 1.1849-1.1816 and the breakdown of the last value will lead to an in-depth correction. Here, the target is 1.1761 and this level is the key support for the upward structure of July 26. Its breakdown will lead to the formation of a downward structure and in this case, the potential target is 1.1705 .
The main trend is a local structure for the top of July 26.
Trading recommendations:
Buy: 1.1918 Take profit: 1.1967
Buy: Take profit:
Sell: 1.1847 Take profit: 1.1818
Sell: 1.1814 Take profit: 1.1766
For the Pound / Dollar pair, the key levels on the scale of H1 are: 1.3261, 1.3224, 1.3187, 1.3157, 1.3106, 1.3056, 1.2999 and 1.2960. Here, we follow the formation of a downward structure from August 3. The continuation of the movement downwards is expected after the breakdown of 1.3106. In this case, the target is 1.3056 and near this level is the consolidation of the price. The break level of 1.3054 should be accompanied by a pronounced downward movement. Here, the target is 1.2999 and the potential value for the bottom is the level of 1.2960, upon reaching which we expect a departure to correction.
The short-term upward movement is possible in the corridor of 1.3157 - 1.3187 and the breakdown of the last value will lead to an in-depth movement. Here, the target is 1.3224 and this level is the key support for the downward structure from August 3.
The main trend is the formation of a downward structure from August 3.
Trading recommendations:
Buy: 1.3157 Take profit: 1.3185
Buy: 1.3188 Take profit: 1.3222
Sell: 1.3104 Take profit: 1.3058
Sell: 1.3054 Take profit: 1.3010
For the pair Dollar / Frank, the key levels on the scale of H1 are: 0.9811, 0.9753, 0.9714, 0.9655, 0.9630 and 0.9595. Here, we continue to follow the upward structure of July 21. The continued upward movement is expected after the breakdown of 0.9714. In this case, the target is 0.9753 and near this level is the consolidation. The breakdown at the level of 0.9755 will allow us to count on the movement to the potential target of 0.9811, upon reaching which we expect a pullback downwards.
The short-term downward movement is possible in the corridor of 0.9655 - 0.9630 and the breakdown of the last value will lead to an in-depth correction. Here, the target is 0.9595 and this level is the key support for the top.
The main trend is the upward structure of July 21.
Trading recommendations:
Buy: 0.9716 Take profit: 0.9750
Buy: 0.9755 Take profit: 0.9810
Sell: 0.9655 Take profit: 0.9633
Sell: 0.9628 Take profit: 0.9600
For the pair Dollar / Yen, the key levels on the scale of H1 are: 111.32, 110.76, 109.74, 109.44 and 108.85. Here, we follow the development of the local downward structure of July 26. The short-term downward movement is possible in the corridor of 109.74 - 109.44 and the breakdown of the last value will lead to a movement to the potential target of 108.85, from which we expect a rollback upward.
The short-term upward movement is possible in the corridor of 110.76 - 111.32 and the breakdown of the last value will have to develop an ascending structure. Here, the potential target is 112.18.
The main trend is the downward structure of July 26, the correction stage.
Trading recommendations:
Buy: 110.80 Take profit: 111.30
Buy: 111.34 Take profit: 112.15
Sell: 109.74 Take profit: 109.45
Sell: 109.42 Take profit: 108.90
For the Canadian Dollar / Dollar pair, the key levels on the scale of H1 are: 1.2803, 1.2743, 1.2700, 1.2615, 1.2536, 1.2493 and 1.2411. Here, we moved to the scale of H1 and follow the upward structure of July 27. The continued upward movement is expected after the breakdown of 1.2615. In this case, the target is 1.2700 and in the corridor of 1.2700 - 1.2743 is the price consolidation. The potential value for the top is the level of 1.2803 and the movement to which we expect after the breakdown of 1.2745.
The short-term downward movement is possible in the corridor of 1.2536 - 1.2493 and the breakdown of the last value will have a downward structure. In this case, the target is 1.2411.
The main trend is the upward cycle of July 27.
Trading recommendations:
Buy: 1.2615 Take profit: 1.2700
Buy: 1.2702 Take profit: 1.2740
Sell: 1.2534 Take profit: 1.2495
Sell: 1.2490 Take profit: 1.2415
For the Australian Dollar / Dollar pair, the key levels on the scale of H1 are: 0.8150, 0.8116, 0.8066, 0.8001, 0.7970, 0.7886, 0.7838, 0.7802 and 0.7754. Here, we expect the development of the downward trend after the breakdown of 0.7886. In this case, the target is 0.7838 and in the corridor of 0.7838 - 0.7802 is the consolidation of the price. The potential value for the bottom is the level of 0.7754, upon reaching which we expect a departure to correction.
The short-term upward movement is possible in the corridor of 0.7970 - 0.8001 and the breakdown of the latter value will lead to the development of an upward structure. Here, the first target is 0.8066. As a potential value for the top, we are currently considering the level of 0.8150.
The main trend is the equilibrium situation.
Trading recommendations:
Buy: 0.7970 Take profit: 0.8000
Buy: 0.8003 Take profit: 0.8065
Sell: 0.7884 Take profit: 0.7840
Sell: 0.7800 Take profit: 0.7756
For the pair Euro / Yen, the key levels on the scale of H1 are: 132.40, 131.88. 131.62, 130.39, 129.71, 129.23 and 128.52. Here, we expect the move to 131.62 and in the corridor of 131.62 - 131.88 is the consolidation of the price. The potential value for the top is the level of 132.40, after reaching which we expect a departure to correction.
We expect the correction to go down after the breakdown at 130.39. In this case, the target is 129.71. The short-term downward movement is possible in the corridor of 129.71 - 129.23 and the breakdown of the latter value will lead to the development of a downward structure. Here, the target is 128.52.
The main trend is the upward structure of July 19.
Trading recommendations:
Buy: 130.80 Take profit: 131.60
Buy: 131.88 Take profit: 132.40
Sell: 130.37 Take profit: 129.74
Sell: 129.70 Take profit: 129.26
For the Pound / Yen pair, the key levels on the scale of H1 are: 146.77, 145.53, 144.99, 144.17, 143.43, 142.51 and 141.91. Here, we follow the formation of the downward structure of August 2. The continuation of the movement downwards is expected after the breakdown of 144.17. Here, the target is 143.43 and to this level, we expect the formation of a pronounced structure. The breakdown of 143.40 will lead to a move to 142.51 and the potential value for the bottom is the level of 141.91, upon the achievement of which we expect consolidation.
The short-term upward movement is possible in the corridor of 144.99 - 145.53 and the breakdown of the last value will have to form an upward structure. Here, the potential target is 146.77.
The main trend is the downward structure of August 2.
Trading recommendations:
Buy: 145.00 Take profit: 145.50
Buy: 145.60 Take profit: 146.70
Sell: 144.15 Take profit: 143.50
Sell: 143.40 Take profit: 142.55
