For the Euro/Dollar pair, we expect the continuation of the development of the upward structure from July 23 after the breakout of 1.1896, the level of 1.1855 is a key support within the day. For the Pound/Dollar pair, we expect the continuation of the upward movement upon the breakout of 1.3967, the level of 1.3864 is the key support within the day. For the Dollar/Franc pair, we expect the main continuation of the downward movement after the breakdown of 0.9036, the level of 0.9102 is the key support.
For the Dollar/Yen pair, we are following the downward structure from July 23, the level of 108.82 is the key resistance, and the level of 109.46 is the key support within the day. For the Euro/Yen pair, we are following the development of the downward structure from July 29, the level of 129.15 is the key resistance, the level of 129.93 is the key support within the day. As for the Pound/Yen pair, we expect the upward movement to resume after the breakout of 152.46, the level of 151.45 is the key support.
Forecast for August 4:
Analytical review of currency pairs on the H1 scale:
For the Euro/Dollar pair, the key levels are: 1.1984, 1.1962, 1.1948, 1.1920, 1.1896, 1.1870, 1.1855, and 1.1833. We are following the development of the upward structure from July 23. The continuation of the upward movement is expected after the breakout of 1.1896, with the target at 1.1920 and consolidation near this level. A breakout of level 1.1922 will lead to the development of a pronounced upward movement, with the target at 1.1948 and price consolidation in the 1.1948 – 1.1962 corridor. We consider the level of 1.1984 as a potential value for the high. Upon reaching this, we expect a rollback downward.
A short-term downward movement is possible in the 1.1870 – 1.1855 corridor. A breakdown of the last value will lead to a deep correction with the target at 1.1833, a key support for the high.
The main trend is the upward structure from July 23.
Key levels of structure development:
Upward resistance: 1.1896. Target: 1.1919
Upward resistance: 1.1921. Target: 1.1948
Downward resistance: 1.1870. Target: 1.1856
Downward resistance: 1.1853. Target: 1.1835
For the Pound/Dollar pair, the key levels are: 1.4066, 1.4037, 1.3967, 1.3934, 1.3893, 1.3864, 1.3813, and 1.3781. We are following the development of the July 20 upward structure. A short-term upward movement, as well as consolidation, is expected in the 1.3934 – 1.3967 corridor, the breakout of the last value should be accompanied by a pronounced upward movement with the target at 1.4037. We consider the level of 1.4066 as a potential value for the high. Upon reaching which we expect consolidation, as well as a pullback downward.
A short-term downward movement is expected in the 1.3893 – 1.3864 corridor. A breakdown of the last value will lead to a deep correction with the target at 1.3813. The 1.3813 – 1.3781 range is the key support for the upward structure from July 20.
The main trend is the upward structure from July 20.
Key levels of structure development:
Upward resistance: 1.3935. Target: 1.3966
Upward resistance: 1.3969. Target: 1.4035
Downward resistance: 1.3892. Target: 1.3866
Downward resistance: 1.3862. Target: 1.3815
For the Dollar/Franc pair, the key levels are: 0.9127, 0.9102, 0.9083, 0.9053, 0.9036, 0.9002, 0.8988, and 0.8963. Here we are following the development of the downward structure from July 20. A short-term downward movement is expected in the 0.9053 – 0.9036 corridor. The breakdown of the last value should be accompanied by a pronounced downward movement with the target at 0.9002, and consolidation in the 0.9002 – 0.8988 corridor. The potential value for the low is the level of 0.8963, upon reaching which we expect a rollback upward.
A short-term upward movement is possible in the 0.9083 – 0.9102 corridor. A breakout of the last value will lead to a deep correction with the target at 0.9127, the key support for the downward cycle.
The main trend is the downward cycle of July 20.
Key levels of structure development:
Upward resistance: 0.9083. Target: 0.9101
Upward resistance: 0.9104. Target: 0.9125
Downward resistance: 0.9034. Target: 0.9004
Downward resistance: 0.8988. Target: 0.8965
For the Dollar/Yen pair, the key levels are: 109.72, 109.46, 109.22, 108.82, 108.51, and 108.19. We are following the development of the downward structure from July 23. We expect the downward movement to continue after the breakdown of 108.82 with the target at 108.51. The breakdown of which, in turn, will allow us to count on a movement to the potential target of 108.19, near this level we expect a pullback into correction.
A short-term upward movement is expected in the 109.22 – 109.46 corridor. A breakout of the last value will lead to a deep correction with the target at 109.72, the key support for the downward cycle.
The main trend is the downward structure from 23 July.
Key levels of structure development:
Upward resistance: 109.22. Target: 109.45
Upward resistance: 109.47. Target: 109.70
Downward resistance: 108.80. Target: 108.53
Downward resistance: 108.49. Target: 108.20
For the Canadian dollar/US dollar pair, the key levels are: 1.2741, 1.2691, 1.2631, 1.2594, 1.2495, 1.2459, 1.2420, 1.2364, 1.2327, and 1.2240. Here we are following the medium-term downward structure from July 19, at the moment the price is in correction and has formed a potential high from July 30. The development of the upward structure from July 30 is expected after the breakout of 1.2594, with the initial target at 1.2631, and consolidation near this level. The breakout of 1.2631 should be accompanied by a pronounced upward movement with the target at 1.2691. We consider the level of 1.2741 as a potential value for the high. Upon reaching which, we expect a rollback downward.
A short-term downward movement is possible in the range of 1.2495 – 1.2459. A breakdown of the last value will be conducive to the subsequent development of the downward structure from July 19, with the initial target at 1.2420.
The main trend is the downward cycle from July 19, the stage of deep correction.
Key levels of structure development:
Upward resistance: 1.2594. Target: 1.2630
Upward resistance: 1.2632. Target: 1.2690
Downward resistance: 1.2495. Target: 1.2462
Downward resistance: 1.2457. Target: 1.2365
For the Australian dollar/US dollar pair, the key levels are: 0.7482, 0.7467, 0.7442, 0.7425, 0.7388, 0.7370, 0.7345, and 0.7291. We are following the July 21 upward structure. A short-term upward movement is expected in the 0.7425 – 0.7442 corridor. A breakout of the last value will lead to a pronounced upward movement with the target at 0.7467 and price consolidation in the 0.7467 – 0.7482 corridor.
A short-term downward movement is expected in the range of 0.7388 – 0.7370. A breakdown of the last value will lead to a deep correction with the target at 0.7345, a key support for the high.
The main trend is the downward cycle from July 6, the stage of correction.
Key levels of structure development:
Upward resistance: 0.7426. Target: 0.7441
Upward resistance: 0.7443. Target: 0.7467
Downward resistance: 0.7388. Target: 0.7371
Downward resistance: 0.7369. Target: 0.7346
For the Euro/Yen pair, the key levels are: 130.51, 130.28, 129.93, 129.67, 129.15, 128.82, 128.52, and 128.21. We are following the development of the downward structure from July 29. The continuation of the downward movement is expected after the breakdown of 129.15 with the target at 128.82. The breakdown of which will allow us to count on a movement to the level of 128.52, with consolidation near this level. We consider the level of 128.21 as a potential value for the low. Upon reaching this level, we expect an upward rollback.
A short-term upward movement is possible in the 129.67 – 129.93 corridor. A breakout of the last value will encourage the formation of an upward structure with the initial potential target at 130.28.
The main trend is the downward structure from July 29.
Key levels of structure development:
Upward resistance: 129.68. Target: 129.91
Upward resistance: 129.95. Target: 130.28
Downward resistance: 129.15. Target: 128.84
Downward resistance: 128.80. Target: 128.55
For the Pound/Yen pair, the key levels are: 155.18, 154.29, 153.41, 153.03, 152.46, 151.45, 151.04, 150.34, and 150.05. We are following the development of the medium-term upward structure from July 20, at the moment, the price is in a deep correction and is forming a potential low from July 29. The upward movement is expected to resume after the breakout of 152.46 with the initial target at 153.03. Passing by the price of the noise range 153.03 – 153.41 will lead to the development of a pronounced upward movement with the target at 154.29 and consolidation near this level. We consider the level 155.18 as a potential value for the high. Upon reaching which, we expect a rollback downward.
A short-term downward movement is possible in the range of 152.45 – 151.04. A breakdown of the last value will lead to the development of a downward potential from July 29, with the target at 150.34 and price consolidation in the 150.34 – 150.05 corridor.
The main trend is the medium-term upward structure of July 20, the stage of deep correction.
Key levels of structure development:
Upward resistance: 152.48. Target: 153.03
Upward resistance: 153.42. Target: 154.27
Downward resistance: 151.45. Target: 151.06
Downward resistance: 151.02. Target: 150.36
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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