Outlook on July 5:
Analytical overview of popular currency pairs on the H1 chart:
The key levels for the EUR/USD pair are 1.1976, 1.1928, 1.1890, 1.1866, 1.1834, 1.1807, 1.1766, 1.1741, and 1.1688. The price has been moving in a downward trend since June 9. Now, we expect a short-term decline in the range of 1.1834 - 1.1807. If the latter is broken, strong movement will continue to the target of 1.1766. After that, the price may consolidate in the 1.1766 - 1.1741 range. The final potential downward target is 1.1688. After reaching it, an upward pullback will occur.
A short-term growth, in turn, is possible in the range of 1.1866 - 1.1890. If the last value is broken, a deep correction will occur. The target is set at 1.1928, which is also the key support level.
The main trend is a local downward trend from June 9.
Trading recommendations:
Buy: 1.1866 Take profit: 1.1890
Buy: 1.1892 Take profit: 1.1928
Sell: 1.1834 Take profit: 1.1808
Sell: 1.1806 Take profit: 1.1767
The key levels for the GBP/USD pair are 1.3930, 1.3912, 1.3870, 1.3845, 1.3786, 1.3759, 1.3734, 1.3710, 1.3660, 1.3637 and 1.3602. The price has been moving in a bearish trend since June 23, but it is currently in correction and is forming an upward potential from July 2. In this case, we expect a short-term growth in the range of 1.3845 - 1.3870. If the last value breaks down, strong growth will resume to the target of 1.3912. The ultimate potential upward target is the level of 1.3930. After reaching it, price consolidation can be expected.
A short-term decline can be expected in the range of 1.3786 - 1.3759. If the level of 1.3759 is broken, the downward trend will develop. The first target is 1.3734. After that, a short-term decline and consolidation can be expected in the 1.3734 - 1.3710 range. If the latter breaks down, a strong decline will continue to the target of 1.3660. The price may consolidate in the range of 1.3660 - 1.3637. A potential downward target is 1.3602. After reaching it, an upward pullback can be expected.
The main trend is the downward trend from June 23, deep correction stage.
Trading recommendations:
Buy: 1.3845 Take profit: 1.3870
Buy: 1.3872 Take profit: 1.3912
Sell: 1.3785 Take profit: 1.3762
Sell: 1.3757 Take profit: 1.3734
The key levels for the USD/CHF pair are 0.9364, 0.9331, 0.9315, 0.9291, 0.9269, 0.9212, 0.9188 and 0.9141. The price has been moving in a local upward trend since June 25. We expect a short-term upward movement in the range of 0.9269 - 0.9291. If the latter is broken, it will allow us to move to the level of 0.9315. It will be followed by another short-term growth and consolidation in the range of 0.9315 - 0.9331. The final potential upward target is 0.9364. After reaching it, a downward pullback can be expected.
A short-term decline is likely in the 0.9212 - 0.9188 range. If the last value is broken, the downward trend will develop. The potential target is set at 0.9141.
The main trend is the upward trend from June 9, local upward trend from June 25.
Trading recommendations:
Buy: 0.9270 Take profit: 0.9290
Buy: 0.9292 Take profit: 0.9315
Sell: 0.9211 Take profit: 0.9190
Sell: 0.9186 Take profit: 0.9144
The key levels for the USD/JPY pair are 112.52, 112.29, 111.94, 111.61, 111.21, 110.97 and 110.69. We are following the local upward trend from June 21. In this case, we expect a short-term growth in the range of 111.61 - 111.94. If the last value is broken, strong growth will continue to the target of 112.29. The ultimate potential upward target is 112.52. After reaching it, the price may consolidate and pull back downwards.
A short-term decline and consolidation are possible in the 111.21 - 110.97 range. If the level of 110.97 is broken, a deep correction will occur. The target is set at 110.69, which is also the key support level.
The main trend is the local upward trend from June 21.
Trading recommendations:
Buy: 111.63 Take profit: 111.94
Buy: 111.96 Take profit: 112.29
Sell: Take profit:
Sell: 110.95 Take profit: 110.70
The key levels for the USD/CAD pair are 1.2450, 1.2416, 1.2375, 1.2353, 1.2307, 1.2276, 1.2222, 1.2198 and 1.2155. We are watching the formation of the downward trend from July 2. Thus, we expect a short-term decline in the range of 1.2307 - 1.2276. If the last value is broken, a strong decline will continue to the target of 1.2222. After that, the price may consolidate in the range of 1.2222 - 1.2198. The final potential downward target is 1.2155. After reaching it, an upward pullback can be expected.
On the other hand, short-term growth is likely in the range of 1.2353 - 1.2375. If the latter is broken, a deep correction will occur. The target is set at 1.2416, which is the key support level for the downward trend.
The main trend is the formation of the upward trend from July 2.
Trading recommendations:
Buy: 1.2353 Take profit: 1.2374
Buy: 1.2377 Take profit: 1.2416
Sell: 1.2307 Take profit: 1.2278
Sell: 1.2274 Take profit: 1.2222
The key levels for the AUD/USD pair are 0.7567, 0.7536, 0.7485, 0.7468, 0.7427 and 0.7408. The price has been moving in a downward trend since June 25, but it is in a correction and is forming an upward potential from July 2. If the price breaks through the range of 0.7485 - 0.7468, a downward trend will develop. The target is set at 0.7427. The final potential downward target is 0.7408. After reaching it, the price may consolidate and pull back upwards.
Meanwhile, short-term growth is expected in the range of 0.7516 - 0.7536. If the level of 0.7536 is broken, a deep correction will occur. The target is set at 0.7567, which is also the key support level.
The main trend is the downward trend from June 25.
Trading recommendations:
Buy: 0.7516 Take profit: 0.7534
Buy: 0.7538 Take profit: 0.7565
Sell: 0.7467 Take profit: 0.7430
Sell: 0.7425 Take profit: 0.7408
The key levels for the EUR/JPY pair are 133.65, 133.29, 133.11, 132.67, 132.41, 131.94, 131.65, 131.22, and 131.22. The subsequent upward targets have been determined from the local upward trend of June 30. Now, we expect a short-term growth in the range of 132.41 - 132.67. If the latter is broken, strong growth will continue to the target of 133.11. After that, the price may consolidate in the range of 133.11 - 133.29. The final potential upward target is set at 133.65. After reaching it, a downward target can be expected.
A short-term decline can be expected in the 131.94 - 131.65 range, hence an upward reversal is very likely. If the latter is broken, this will encourage the development of a downward trend. The first potential target is 131.22.
The main trend is the local upward trend of June 30.
Trading recommendations:
Buy: 132.41 Take profit: 132.65
Buy: 132.68 Take profit: 133.11
Sell: 131.63 Take profit: 131.22
Sell: 131.20 Take profit: 130.75
The key levels for the GBP/JPY pair are 154.09, 153.63, 152.80, 152.38, 151.97, 151.68, and 151.06. The price has been moving in a bearish trend since June 23, but it is currently in a correction and forms an upward potential from June 29. We expect a short-term decline in the 152.80 - 152.38 range. If the latter is broken, it will allow us to move to the level of 151.97. After that, the price may consolidate in the range of 151.97 - 151.68. The ultimate potential downward target is 151.06. After reaching it, the price may pull back upwards.
Short-term growth can be expected in the 153.63 - 154.09 range. We expect the initial conditions for the upward trend to be formed up to the level of 154.09. In general, an upward trend is expected after the level of 154.10 is broken. The potential target is set at 154.61.
The main trend is the downward trend from June 23, correction stage.
Trading recommendations:
Buy: 153.65 Take profit: 154.09
Buy: 154.10 Take profit: 154.60
Sell: 152.78 Take profit: 152.40
Sell: 152.36 Take profit: 152.00
