Dear colleagues.
The pair EUR / USD continue the movement downwards after the breakdown of 1.1716. The Pound / Dollar pair continue the downward movement after the breakdown of 1.2960, we consider the upward movement as a correction. For the Dollar / Franc pair, the price has so far entered the correction zone, but has not formalized the initial conditions for the downward cycle. For the pair Dollar / Yen, the continuation of the movement downwards is expected after the breakdown of 109.44. The Euro / Yen pair follow the downward cycle from August 2. The Pound / Yen pair follow the downward cycle from August 2.
Forecast for August 9:
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, 1.1890, 1.1832, 1.1810, 1.1771, 1.1718, 1.1666, 1.1605 and 1.1561. Here, we continue to monitor the formation of the downward structure of August 3. The continued downward movement is expected after the breakdown of the level of 1.1715. In this case, the target is 1.1666 and the breakdown of which should be accompanied by a pronounced movement to the level of 1.1605. The potential value for the bottom is the level of 1.1561, after reaching which we expect the departure to correction.
The departure of the correction is possible after the breakdown of 1.1771. In this case, the target is 1.1810. The short-term upward movement is expected in the corridor of 1.1810 - 1.1832 and breakdown of the last value will have an upward structure. In this case, the target is 1.1890 and 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: 1.1771 Take profit: 1.1810
Buy: 1.1833 Take profit: 1.1890
Sell: 1.1715 Take profit: 1.1668
Sell: 1.1664 Take profit: 1.1607
For the Pound / Dollar pair, the key levels on the scale of H1 are: 1.3157, 1.3106, 1.3074, 1.3029, 1.2960, 1.2905 and 1.2867. Here, we continue to follow the development of the downward structure of August 3. The continued downward movement is expected after the breakdown of 1.2960. In this case, the target is 1.2905. The potential value for the bottom is the level of 1.2867, upon reaching which we expect consolidation in the corridor of 1.2867 - 1.2905.
The departure of the correction is possible after the breakdown of 1.3030. Here, the first target is 1.3074. The short-term upward movement is expected in the corridor of 1.3074 - 1.3106 and breakdown of the last value will have to form the initial conditions for the upward cycle. Here, the target is 1.3155.
The main trend is the downward structure of August 3.
Trading recommendations:
Buy: 1.3030 Take profit: 1.3074
Buy: 1.3108 Take profit: 1.3155
Sell: 1.2958 Take profit: 1.2907
Sell: 1.2905 Take profit: 1.2870
For the pair Dollar / Frank, the key levels on the scale of H1 are: 0.9914, 0.9845, 0.9811, 0.9753, 0.9714, 0.9655, 0.9630 and 0.9595. Here, the price is in correction from the ascending structure on July 21. The short-term upward movement is expected in the range of 0.9714 - 0.9753 and the breakdown of the last value should be accompanied by a pronounced upward movement. Here, the target is 0.9811 and in the corridor of 0.9811 - 0.9845 is the consolidation. The potential value for the upward trend is the level of 0.9814, upon reaching of which we expect a rollback to correction.
The short-term downward movement is possible in the corridor of 0.9655 - 0.9630 and the breakdown of the last value will have to form the initial conditions for the downward cycle. In this case, the target is 0.9595.
The main trend is the upward structure from July 21, the correction stage.
Trading recommendations:
Buy: 0.9714 Take profit: 0.9751
Buy: 0.9755 Take profit: 0.9810
Sell: 0.9630 Take profit: 0.9595
Sell: Take profit:
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 and at the moment, the price is in correction. The short-term upward movement is possible in the corridor of 110.76 - 111.32 and the breakdown of the latter value will have to develop an ascending structure. Here, the potential target is 112.18.
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 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: 1.2912, 1.2838, 1.2803, 1.2743, 1.2700, 1.2615, 1.2573 and 1.2513. Here, we follow the upward structure of July 27. The continued upward movement is expected after the breakdown of 1.2700. In this case, the target is 1.2743 and near this level is the consolidation. The break of the level of 1.2745 should be accompanied by a pronounced movement to the top. Here, the target is 1.2803 and in the corridor of 1.2803 - 1.2838 is the consolidation. The potential value for the top is the level of 1.2912, upon reaching which we expect the correction to go.
The short-term downward movement is possible in the corridor of 1.2615 - 1.2573 and the breakdown of the last value will lead to an in-depth correction. Here, the target is 1.2513 and 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 Australian Dollar / Dollar pair, the key levels on the scale of H1 are: 0.8001, 0.7970, 0.7920, 0.7838, 0.7802 and 0.7754. Here, the short-term downward movement is expected in the range of 0.7838 - 0.7802 and the breakdown of the last value will lead to a movement to the potential target of 0.7754, upon reaching which we expect a pullback upward.
The correction is possible after the breakdown of 0.7920. The target is 0.7970 and the range of 0.7970 - 0.8001 is the key support for the downward structure. Its passage by the price will have to develop an upward structure. In this case, the target is 0.8066.
The main trend is the downward structure of July 27.
Trading recommendations:
Buy: 0.7920 Take profit: 0.7970
Buy: 0.8003 Take profit: 0.8065
Sell: 0.7838 Take profit: 0.7804
Sell: 0.7800 Take profit: 0.7756
For the pair of Euro / Yen, the key levels on the scale of H1 are: 130.18, 129.62, 129.29, 128.77, 128.33, 128.04 and 127.47. Here, we follow the downward cycle of August 2. The continued downward movement is expected after the breakdown of 128.77. In this case, the target is 128.33 and in the corridor of 128.33 - 128.04 is the consolidation of the price. The potential value for the bottom is the level of 127.47, after reaching which we expect a rollback upward.
The short-term upward movement is possible in the corridor of 129.29 - 129.62 and the breakdown of the last value will lead to an in-depth correction. Here, the target is 130.18 and this level is the key support for the downward structure.
The main trend is the downward structure of August 2.
Trading recommendations:
Buy: 129.30 Take profit: 129.60
Buy: 129.65 Take profit: 130.15
Sell: 128.75 Take profit: 128.35
Sell: 128.02 Take profit: 127.50
For the Pound / Yen pair, the key levels on the scale of H1 are: 144.99, 144.37, 143.51, 142.51, 141.91 and 140.95. Here, we follow the development of the downward structure of August 2. The short-term downward movement is expected in the corridor of 142.51 - 141.91. The potential value for the bottom is the level of 140.95, upon reaching which we expect a rollback to the top.
Departure in the correction is possible after the breakdown of 143.51. Here, the target is 144.37. The range of 144.37 - 144.99 is the key support for the downward structure from August 2, before it is possible to design initial conditions for the upward cycle.
The main trend is the downward structure of August 2.
Trading recommendations:
Buy: 143.51 Take profit: 144.37
Buy: 144.40 Take profit: 144.95
Sell: 142.50 Take profit: 141.95
Sell: 141.85 Take profit: 141.00
