Outlook on August 9:
Analytical overview of popular currency pairs on the H1:
The key levels for the EUR/USD pair are 1.1809, 1.1787, 1.1773, 1.1741, 1.1723, and 1.1705. The price has been moving in a downward trend since July 30. We expect this trend to continue after the breakdown of the level of 1.1741. The target is set at 1.1723. The final potential downward target is 1.1705. After reaching it, the price may consolidate and pull back upwards.
A short-term growth, in turn, is possible in the range of 1.1773 - 1.1787. If the last value is broken, a deep correction will occur. The target is set at 1.1809, which is also the key support level.
The main trend is the downward trend from July 30.
Key levels of structure development:
Upward resistance: 1.1773 Target: 1.1785
Upward resistance: 1.1790 Target: 1.1807
Downward resistance: 1.1740 Target: 1.1725
Downward resistance: 1.1721 Target: 1.1705
The key levels for the GBP/USD pair are 1.4066, 1.4037, 1.3967, 1.3934, 1.3893, 1.3864, 1.3813, and 1.3781. The price has been moving in an upward trend since July 20. Now, we expect a short-term growth and consolidation in the range of 1.3934 - 1.3967. If the latter is broken, strong growth should continue to the target of 1.4037. The final potential upward target is 1.4066. After reaching it, the price may consolidate and pull back downwards.
The price is expected to consolidate in the range of 1.3893 - 1.3864. If the latter is broken, a deep correction will occur. The target is set at 1.3813. The key support for the upward trend from July 20 is the range of 1.3813 - 1.3781.
The main trend is the upward trend from July 20.
Key levels of structure development:
Upward resistance: 1.3935 Target: 1.3966
Upward resistance: 1.3969 Target: 1.4035
Downward resistance: 1.3862 Target: 1.3815
Downward resistance: 1.3811 Target: 1.3781
The key levels for the USD/CHF pair are 0.9208, 0.9196, 0.9169, 0.9158, 0.9138, 0.9122 and 0.9097. The price has been moving in a bullish trend since August 4. We expect a short-term growth in the 0.9158 - 0.9169 range. If the last value is broken, it will lead to strong growth to the target of 0.9196. The ultimate potential upward target is 0.9208. After reaching it, the price may consolidate and pull back downwards.
A short-term decline is likely in the range of 0.9138 - 0.9122. If the last value is broken, a deep correction will follow. The target is set at 0.9097, which is also the key support level.
The main trend is the upward trend from August 4.
Key levels of structure development:
Upward resistance: 0.9158 Target: 0.9168
Upward resistance: 0.9171 Target: 0.9196
Downward resistance: 0.9138 Target: 0.9125
Downward resistance: 0.9120 Target: 0.9100
The key levels for the USD/JPY pair are 111.24, 111.04, 110.73, 110.45, 110.29, 110.08, 109.92, and 109.59. We are following the development of the upward trend from August 4. We expect this trend to resume after the price breaks through the noise range of 110.29 - 110.45. The target is set at 110.73 and the price can consolidate near it. If the level of 110.75 is broken, it will lead to strong growth to the target of 111.04. The final potential upward target is 111.24. After reaching it, the price may consolidate and pull back downwards.
A short-term decline can be expected in the 110.08 - 109.92 range. If the latter is broken, it will lead to a deep correction. The target is set at 109.59, which is also the key support level.
The main trend is the upward trend from August 4.
Key levels of structure development:
Upward resistance: 110.45 Target: 110.71
Upward resistance: 110.75 Target: 111.04
Downward resistance: 110.08 Target: 109.93
Downward resistance: 109.90 Target: 109.61
The key levels for the USD/CAD pair are 1.2741, 1.2691, 1.2631, 1.2594, 1.2495, 1.2459, 1.2420, 1.2364, 1.2327 and 1.2240. We are following the mid-term downward trend from July 19. The price is currently in correction and has formed an upward potential from July 30. We expect the development of the upward trend from July 30 after the breakdown of 1.2594. The first target is 1.2631 and the price may consolidate around it. If the target is broken, it should be accompanied by strong growth to the target of 1.2691. The ultimate potential upward target is 1.2741. After reaching it, a downward pullback can be expected.
Meanwhile, a short-term decline is possible in the range of 1.2495 - 1.2459. If the last value is broken, it will dispose to the subsequent development of the downward trend from July 19. The first target is 1.2420.
The main trend is the downward trend from July 19, deep correction stage.
Key levels of structure development:
Upward resistance: 1.2594 Movement target: 1.2630
Upward resistance: 1.2632 Movement target: 1.2690
Downward resistance: 1.2495 Movement target: 1.2462
Downward resistance: 1.2457 Movement target: 1.2365
The key levels for the AUD/USD pair are 0.7428, 0.7407, 0.7382, 0.7367, 0.7329, 0.7291, 0.7254, 0.7237 and 0.7192. The price has been moving in a bearish trend since August 4. We expect this trend to extend after the level of 0.7329 is broken. The target is set at 0.7291 and the price may consolidate near it. If the specified target is broken, it will lead to the development of a strong decline to the target of 0.7254. There is a short-term downward movement in the 0.7254 - 0.7237 range. The final potential downward target is 0.7192. After reaching it, an upward pullback can be expected.
On the other hand, short-term growth is expected in the range of 0.7367 - 0.7382. If the latter is broken, a deep correction will occur. The target is 0.7407, which is also the key support level.
The main trend is the formation of a downward trend from August 4.
Key levels of structure development:
Upward resistance: 0.7367 Movement target: 0.7380
Upward resistance: 0.7384 Movement target: 0.7407
Downward resistance: 0.7327 Target of movement: 0.7293
Downward resistance: 0.7289 Target of movement: 0.7256
The key levels for the EUR/JPY pair are 130.51, 130.28, 129.93, 129.67, 129.39, 129.15, 128.82, 128.52, and 128.21. The price has been moving in a downward trend since July 29, but it is currently in a correction. We expect this trend to resume after the breakdown of 129.39. The first target is set at 129.15. Its breakdown will continue the development of the main downward trend from July 29. In this case, the target is 128.82, whose breakdown will allow us to move to the level of 128.52. The price may consolidate around it. The final potential downward target is 128.21. After reaching it, an upward pullback will occur.
In turn, short-term growth is likely in the range of 129.67 - 129.93. If the last value is broken, it will encourage the formation of an upward trend. The first potential target is 130.28. We expect a short-term growth and consolidation in the range of 130.28 - 120.51.
The main trend is the downward trend from July 29, correction stage.
Key levels of structure development:
Upward resistance: 129.68 Movement target: 129.91
Upward resistance: 129.95 Movement target: 130.28
Downward resistance: 129.63 Target of movement: 129.41
Downward resistance: 129.37 Target of movement: 129.16
The key levels for the GBP/JPY pair are 154.34, 153.89, 153.31, 153.03, 152.46, 152.16, 151.66, and 151.14. We are following the development of the local upward trend from August 3. In this case, we expect a short-term growth in the range of 153.03 - 153.31. If the latter is broken, strong growth will resume to the target of 153.89. The ultimate potential upward target is 154.34. After reaching it, the price may consolidate and pull back downwards.
A short-term decline is possible in the range of 152.46 - 152.16. If the last value is broken, a deep correction will occur. The target is set at 151.66, which is also the key support level.
The main trend is the mid-term upward trend from July 20, deep correction stage.
Key levels of structure development:
Upward resistance: 153.03 Movement target: 153.30
Upward resistance: 153.36 Movement target: 153.89
Downward resistance: 152.45 Target of movement: 152.17
Downward resistance: 152.12 Movement target: 151.70
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