Outlook on July 22:
Analytical overview of popular currency pairs on the H1 chart:
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 continue 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 1.1825 - 1.1851 range. 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 1.3861, 1.3838, 1.3780, 1.3761, 1.3711, 1.3687, 1.3647, and 1.3570. The price has been moving in an upward trend since July 20. We expect this trend to resume after the price breaks through the 1.3761 - 1.3780 range. The target is 1.3838. The final potential upward target is 1.3861. After reaching it, the price may consolidate and pull back downwards.
A short-term decline can be expected in the range of 1.3711 - 1.3687. If the latter is broken, a deep correction will occur. The target is set at 1.3647, which is also the key support level.
The main trend is the upward trend from July 20.
Trading recommendations:
Buy: 1.3780 Take profit: 1.3836
Buy: 1.3839 Take profit: 1.3860
Sell: 1.3711 Take profit: 1.3688
Sell: 1.3685 Take profit: 1.3648
The key levels for the USD/CHF pair are 0.9275, 0.9262, 0.9239, 0.9220, 0.9182, 0.9163, 0.9145 and 0.9116. The price has been moving in a bullish trend since July 15. In this case, we expect a short-term growth in the range of 0.9220 - 0.9239. If the latter is broken, it should be accompanied by strong growth to the potential target of 0.9275. After that, the price can consolidate in the range of 0.9262 - 0.9275, and hence, a downward pullback can be expected.
A short-term decline can be expected in the range of 0.9182 - 0.9163. If the last level is broken, a deep correction will occur. The target is set at 0.9145, which is also the key support level.
The main trend is the upward trend from July 15.
Trading recommendations:
Buy: 0.9220 Take profit: 0.9238
Buy: 0.9241 Take profit: 0.9262
Sell: 0.9161 Take profit: 0.9146
Sell: 0.9144 Take profit: 0.9118
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. Now, we expect a short-term growth in the 110.38 - 110.61 If the last value is broken, it will lead the pair to the target of 110.88, where 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 final 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 110.06 - 109.86 range. If the level of 109.86 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 development of the downward trend from July 19, which will be considered as initial conditions. We expect the downward trend to resume 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 can be expected.
Meanwhile, a short-term growth is possible in the range of 1.2595 - 1.2624. If the latter is broken, it will lead to a deep correction. 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 0.7409, 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. In view of this, we expect a short-term decline in the range of 0.7340 - 0.7319. If the latter is broken, it will allow us to move to the level of 0.7291. Its breakdown should be accompanied by a strong decline to the target of 0.7239. The ultimate potential downward target is 0.7214. After reaching it, the price can consolidate and pull back upwards.
On the other hand, short-term growth is likely in the range of 0.7374 - 0.7409. We expect the formation of strong initial conditions for the upward trend up to the level of 0.7409.
The main trend is the downward trend from July 6, correction stage.
Trading recommendations:
Buy: 0.7376 Take profit: 0.7407
Buy: Take profit:
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 a bullish trend since July 20. We expect this trend to extend after the breakdown of the 130.13 - 130.28 range. The target is set at 130.58 and the price may consolidate around it. If the level of 130.60 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 129.67 - 129.46 range. 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 GBP/JPY pair are 153.41, 152.36, 151.96, 151.68, 150.68, 150.27 and 149.60. We are monitoring the formation of the mid-term initial upward conditions from July 20. We expect this growth to continue after the price breaks through the range of 151.68 - 151.96. The target is set at 152.36, and the price may consolidate near it. If the level of 152.40 is broken, this will lead to the development of a strong rise. The target is 153.41 and the price can consolidate around it.
A short-term decline is expected in the 150.68 - 150.27 range. If the latter is broken, a deep correction will occur. The target is set at 149.60, which is also the key support level.
The main trend is the formation of a medium-term upward trend from July 20.
Trading recommendations:
Buy: 151.96 Take profit: 152.32
Buy: 152.40 Take profit: 153.40
Sell: 150.68 Take profit: 150.30
Sell: 150.24 Take profit: 149.62
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