27.07.202110:15 Forex Analysis & Reviews: Fractal analysis of major currency pairs on July 27, 2021

Outlook on July 27:

Analytical overview of popular currency pairs on the H1:

The key levels for the EUR/USD pair are 1.1881, 1.1851, 1.1825, 1.1771, 1.1758, 1.1726, and 1.1710. The local initial downward conditions from July 9 are still being monitored. We expect the downward trend to resume after the price breaks through the range of 1.1771 - 1.1758. The target is set at 1.1726. The final potential downward target is 1.1710. After reaching this level, the price may consolidate and pull back upwards.

A short-term growth, in turn, is possible in the range of 1.1825 - 1.1851. If the latter is broken, it will encourage the formation of a strong upward trend. The potential target is 1.1881.

The main trend is the local downward trend from July 9.

Trading recommendations:

Buy: 1.1827 Take profit: 1.1850

Buy: 1.1853 Take profit: 1.1880

Sell: 1.1758 Take profit: 1.1727

Sell: 1.1725 Take profit: 1.1710

The key levels for the GBP/USD pair are 1.3967, 1.3934, 1.3888, 1.3865, 1.3838, 1.3789, 1.3758, and 1.3721. The price has been moving in an upward trend since July 20. We expect this growth to resume after the level of 1.3838 is broken. The target is set at 1.3865. After that, the price may consolidate in the range of 1.3865 - 1.3888. If the latter is broken, it should be accompanied by a strong growth towards the next target of 1.3934. The ultimate potential upward target is 1.3967. After reaching it, the price may consolidate and pull back downwards.

A short-term decline can be expected in the range of 1.3789 - 1.3758. If the latter is broken, a deep correction will follow. The target is set at 1.3721, which is also the key support level.

The main trend is the upward trend from July 20.

Trading recommendations:

Buy: 1.3838 Take profit: 1.3865

Buy: 1.3890 Take profit: 1.3934

Sell: 1.3789 Take profit: 1.3760

Sell: 1.3756 Take profit: 1.3723

The key levels for the USD/CHF pair are 0.9275, 0.9262, 0.9239, 0.9220, 0.9194, 0.9175, 0.9145, 0.9111, 0.9098 and 0.9075. The price has been moving in a bullish trend since July 15, but it is currently close to canceling this trend, which requires a breakdown of the level of 0.9145. In this case, we expect a strong development of the downward trend from July 20. The first target is set at 0.9111 and the price may consolidate in the 0.9111 - 0.9098 range. The final potential downward target is 0.9075. After reaching it, a downward pullback can be expected.

A short-term upward movement is likely in the 0.9175 - 0.9194 range. If the level of 0.9194 is broken, it will favor the development of an upward trend from July 15. The first target is set at 0.9220. After that, a short-term upward movement, as well as consolidation can be expected in the range of 0.9220 - 0.9239.

The main trend is the upward trend from July 15, deep correction stage.

Trading recommendations:

Buy: 0.9175 Take profit: 0.9192

Buy: 0.9196 Take profit: 0.9220

Sell: 0.9144 Take profit: 0.9113

Sell: 0.9098 Take profit: 0.9077

The key levels for the USD/JPY pair are 111.32, 111.15, 110.88, 110.61, 110.38, 110.06, 109.86, and 109.57. The price has been moving in an upward trend since July 19. Here, we expect a short-term growth in the range of 110.38 - 110.61 If the last value is broken, it will lead the pair to the target of 110.88, and the price can consolidate near it. The breakdown of this target will be accompanied by strong growth towards the next level of 111.15. The ultimate potential upward target is 111.32. After reaching it, the price can consolidate and pull back downwards.

A short-term decline is expected in the range of 110.06 - 109.86. If the latter is broken, a deep correction will follow. The target is set at 109.57, which is also the key support level.

The main trend is the upward trend from July 19.

Trading recommendations:

Buy: 110.38 Take profit: 110.60

Buy: 110.62 Take profit: 110.86

Sell: 110.06 Take profit: 109.87

Sell: 109.84 Take profit: 109.60

The key levels for the USD/CAD pair are 1.2667, 1.2624, 1.2595, 1.2537, 1.2495, 1.2467, and 1.2412. We are following the mid-term downward trend from July 19. This trend is expected to continue after the level of 1.2537 is broken. The target is set at 1.2495. After that, the price may consolidate in the 1.2495 - 1.2467 range. The ultimate potential downward target is 1.2412. After reaching it, an upward pullback will occur.

On the other hand, short-term growth is possible in the 1.2595 - 1.2624 range. If the last value is broken, a deep correction will follow. The target is set at 1.2667, which is also the key support level.

The main trend is the downward trend from July 19.

Trading recommendations:

Buy: 1.2595 Take profit: 1.2623

Buy: 1.2625 Take profit: 1.2665

Sell: 1.2536 Take profit: 1.2495

Sell: 1.2466 Take profit: 1.2414

The key levels for the AUD/USD pair are 0.7444, 0.7409, 0.7374, 0.7340, 0.7319, 0.7291, 0.7239 and 0.7214. The downward trend from July 6 is considered as the main trend. The price is currently in correction and has formed an upward potential from July 21. In this case, we expect a short-term decline in the 0.7340 - 0.7319 range. If the latter is broken, it will allow us to move to the next level of 0.7291. Its breakdown should be accompanied by a strong decline to the target of 0.7239. The final potential downward target is 0.7214. After reaching it, the price may consolidate and pull back upwards.

Meanwhile, short-term growth is likely in the range of 0.7374 - 0.7409. If the level of 0.7409 is broken, it will lead to the development of an upward trend from July 21. The first potential target is 0.7444.

The main trend is the downward trend from July 6, correction stage.

Trading recommendations:

Buy: 0.7376 Take profit: 0.7407

Buy: 0.7410 Take profit: 0.7444

Sell: 0.7340 Take profit: 0.7320

Sell: 0.7317 Take profit: 0.7292

The key levels for the EUR/JPY pair are 131.11, 130.90, 130.58. 130.28, 130.13, 129.67, 129.46 and 129.15. The price has been moving in an upward trend since July 20. We expect this trend to extend after the 130.13 - 130.28 range is broken. The target is set at 130.58 and the price may consolidate around it. If the latter is broken, strong growth will develop. The final potential upward target is 131.11. After reaching it, the price can consolidate in the range of 130.90 - 131.11 and pull back downwards.

In turn, a short-term decline is possible in the range of 129.67 - 129.46. If the last value is broken, a deep correction will occur. The target is set at 129.15, which is also the key support level.

The main trend is the upward trend from July 20.

Trading recommendations:

Buy: 130.30 Take profit: 130.56

Buy: 130.60 Take profit: 130.90

Sell: 129.66 Take profit: 129.48

Sell: 129.45 Take profit: 129.18

The key levels for the EUR/JPY pair are 131.11, 130.90, 130.58. 130.28, 130.13, 129.67, 129.46 and 129.15. The price has been moving in an upward trend since July 20. We expect this trend to extend after the 130.13 - 130.28 range is broken. The target is set at 130.58 and the price may consolidate around it. If the latter is broken, strong growth will develop. The final potential upward target is 131.11. After reaching it, the price can consolidate in the range of 130.90 - 131.11 and pull back downwards.

In turn, a short-term decline is possible in the range of 129.67 - 129.46. If the last value is broken, a deep correction will occur. The target is set at 129.15, which is also the key support level.

The main trend is the upward trend from July 20.

Trading recommendations:

Buy: 130.30 Take profit: 130.56

Buy: 130.60 Take profit: 130.90

Sell: 129.66 Take profit: 129.48

Sell: 129.45 Take profit: 129.18