Dear Colleagues.
The EUR/USD pair follows the formation of a downward structure from August 3. The GBP/USD pair continues a downward movement after the breakdown at 1.2999. The USD/CHF pair follows an upward cycle from July 21. The USD/JPY formed the potential for an upward structure in the correction. For the EUR/USD pair, we expect a move to the level of 131.62. The GBP/JPY pair follows the formation of a downward structure from August 2.
Forecast for August 7:
Analytical review of currency pairs in the scale of H1:
For the EUR / USD pair, the key levels on the H1 scale are: 1.1969, 1.1890, 1.1832, 1.1810, 1.1761, 1.1718, 1.1666, 1.1605 and 1.1561. Here, we follow the formation of a downward structure from August 3. Continued downward movement is expected after the breakdown at 1.1761. In this case, the target is 1.1718. Near this level is consolidation of the price. A breakdown at level 1.1715 will lead to a move towards the level of 1.1666. Breakdown at this level should be accompanied by a pronounced movement towards the level of 1.1605. The potential value for the bottom is the level of 1.1561, which when reached is expected to move towards correction.
Short-term upward movement is possible in the area of 1.1810 - 1.1832. The breakdown of the last value will lead to an upward structure. In this case, the target is 1.1890. This level is the key resistance for the top.
The main trend is the formation of a downward structure from August 3.
Trading recommendations:
Buy: 1.1834 Take profit: 1.1890
Buy: 1.8094 Take profit: 1.1965
Sell: 1.1758 Take profit: 1.1720
Sell: 1.1715 Take profit: 1.1668
For the GBP/USD pair, the key levels on the H1 scale are: 1.3157, 1.3106, 1.3074, 1.2999, 1.2960, 1.2905 and 1.2867. Here, we follow the development of a downward structure from August 3. The continuation of a downward movement is expected after the breakdown at 1.2999. Here, the target is 1.2960. Near this level the consolidation of the price. Breakdown at 1.2960 should be accompanied by a pronounced downward movement. Here, the target is 1.2905. The potential value for the bottom is the level of 1.2867. Upon reaching this level, we expect consolidation.
Short-term upward movement is possible in the area of 1.3074 - 1.3106. The breakdown of the latter value will lead to in-depth movement. Here, the target is 1.3155. This level is the key support for the downward structure from August 3.
The main trend is the downward structure from August 3.
Trading recommendations:
Buy: 1.3074 Take profit: 1.3104
Buy: 1.3108 Take profit: 1.3155
Sell: 1.2999 Take profit: 1.2962
Sell: 1.2958 Take profit: 1.2907
For the USD/CHF pair, the key levels on the H1 scale 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. Continued upward movement is expected after the breakdown at 0.9714. In this case, the target is 0.9753. Near this level is the consolidation of the price. The breakdown at the level of 0.9755 will allow us to count on the movement to the potential target to 0.9811. Upon reaching this level, we expect a pullback downwards.
Short-term downward movement is possible in the area of 0.9655 - 0.9630. The breakdown of the last value will lead to in-depth correction. Here, the target is 0.9595. This level is the key support for the top.
The main trend is the upward structure from 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 USD/JPY pair, the key levels on the H1 scale are: 111.32, 110.76, 109.74, 109.44 and 108.85. Here, we follow the development of a local downward structure from July 26. At the moment, the price is in correction and forms the potential for a top from August 4. Short-term upward movement is possible in the area of 110.76 - 111.32. The breakdown of the last value will lead to a development in ascending structure. Here, the potential target is 112.18.
Short-term downward movement is possible in the area of 109.74 - 109.44. The breakdown of the last value will lead to a movement to the potential target of 108.85. Upon reaching this level, we expect a rollback upward.
The main trend is a downward structure from 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 CAD/USD pair, the key levels on the H1 scale are:1.2912, 1.2838, 1.2803, 1.2743, 1.2700, 1.2615, 1.2573 and 1.2513. Here, we follow an upward structure from July 27. Continued upward movement is expected after the breakdown at 1.2700. In this case, the target is 1.2743. Near this level is the consolidation of the price. A break at the level of 1.2745 should be accompanied by a pronounced movement to the top. Here, the target is 1.2803. In the range of 1.2803 - 1.2838 is the consolidation. The potential value for the top is at the level of 1.2912. Upon reaching this level, we expect the correction to go.
Short-term downward movement is possible in the area of 1.2615 - 1.2573. The breakdown of the last value will lead to in-depth correction. Here, the target is 1.2513. This level is the key support for the top.
The main trend is the upward cycle of July 27.
Trading recommendations:
Buy: 1.2700 Take profit: 1.2740
Buy: 1.2745 Take profit: 1.2800
Sell: 1.2612 Take profit: 1.2575
Sell: 1.2570 Take profit: 1.2515
For the AUD/USD pair, the key levels on the H1 scale 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 at 0.7886. In this case, the target is 0.7838. In the area of 0.7838 - 0.7802 is the consolidation of the price. The potential value for the bottom is at the level of 0.7754. Upon reaching this level, we expect a move towards correction.
Short-term upward movement is possible in the area of 0.7970 - 0.8001. 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 in in 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 EUR/JPY pair, key levels on the H1 scale are: 132.40, 131.88. 131.62, 130.39, 129.71, 129.23 and 128.52. Here, we expect the move to 131.62. In the area of 131.62 - 131.88 is the consolidation of the price. The potential value for the top is at the level of 132.40. Upon reaching this level, we expect a move towards correction.
We expect the correction to go down after the breakdown at 130.39. In this case, the target is 129.71. Short-term downward movement is possible in the area of 129.71 - 129.23. 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 an 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 GBP/JPY pair, the key levels on the H1 scale are: 146.77, 145.53, 144.99, 144.17, 143.43, 142.51 and 141.91. Here, we follow the formation of a downward structure from August 2. Continued downward movement is expected after the breakdown at 144.17. Here, the target is 143.43. In this level, we expect the formation of a pronounced structure. The breakdown at 143.40 will lead to a move towards 142.51. The potential value for the bottom is at the level of 141.91. Upon reaching this level, we expect consolidation.
Short-term upward movement is possible in the area of 144.99 - 145.53. The breakdown of the last value will lead to a formation of an upward structure. Here, the potential target is 146.77.
The main trend is a downward structure from 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
