Forecast for August 5 :
Analytical review of H1-scale currency pairs:
For the euro / dollar pair, the key levels on the H1 scale are: 1.1187, 1.1162, 1.1145, 1.1118, 1.1074, 1.1057, 1.1025, 1.0989 and 1.10962. Here, the development of the ascending structure of August 1 is expected after the breakdown of the level of 1.1118. In this case, the goal is 1.1145. Meanwhile, in the range of 1.1145 - 1.1162, there is a price consolidation. For the potential value for the top, we consider the level of 1.1187. After reaching which, we expect a rollback to the bottom.
The range of 1.1074 - 1.1057 is the key support for the ascending structure. Its price passage will have a downward trend. Here, the goal is 1.1025. This level is the key resistance for the subsequent downward movement. Its breakdown will make it possible to count on pronounced movement. Here, the goal is 1.0989. For the potential value for the bottom, we consider the level of 1.0962, and near which, we expect consolidation.
The main trend is the local downward structure of July 31, the formation of the structure for the top of August 1.
Trading recommendations:
Buy 1.1118 Take profit: 1.1145
Buy 1.1162 Take profit: 1.1186
Sell: 1.1056 Take profit: 1.1027
Sell: 1.1023 Take profit: 1.0990
For the pound / dollar pair, the key levels on the H1 scale are: 1.2254, 1.2192, 1.2158, 1.2099, 1.2069 and 1.2021. Here, we are following the downward cycle of July 19, as well as the local downward structure of July 31. Short-term movement to the bottom is expected in the range of 1.2099 - 1.2069. The breakdown of the last value will allow to expect movement to the potential target - 1.2021. From this level, we expect a departure to the correction.
Short-term upward movement is possibly in the range of 1.2158 - 1.2192. The breakdown of the latter value will lead to the formation of the initial conditions for the top. Here, the potential target is 1.2254.
The main trend is the downward cycle of July 19, the local structure of July 31.
Trading recommendations:
Buy: 1.2158 Take profit: 1.2191
Buy: 1.2194 Take profit: 1.2254
Sell: 1.2099 Take profit: 1.2070
Sell: 1.2067 Take profit: 1.2025
For the dollar / franc pair, the key levels on the H1 scale are: 0.9875, 0.9854, 0.9839, 0.9816, 0.9797, 0.9766 and 0.9746. Here, we are following the development of the downward cycle of August 1. Short-term downward movement is expected in the range of 0.9816 - 0.9797. The breakdown of the last value should be accompanied by a pronounced downward movement. Here, the goal is 0.9766. For the potential value for the bottom, we consider the level of 0.9746. After reaching which, we expect consolidation, as well as rollback to the top.
Short-term upward movement is possibly in the range of 0.9839 - 0.9854. The breakdown of the latter value will lead to in-depth correction. Here, the goal is 0.9875. This level is a key support for the downward structure of August 1.
The main trend is the downward structure of August 1.
Trading recommendations:
Buy : 0.9839 Take profit: 0.9854
Buy : 0.9856 Take profit: 0.9875
Sell: 0.9815 Take profit: 0.9800
Sell: 0.9795 Take profit: 0.9766
For the dollar / yen pair, the key levels on the scale are : 107.98, 107.62, 107.20, 106.48, 105.71, 105.14, 104.44 and 104.00. Here, we are following the formation of the downward structure of August 1. The continuation of the movement to the bottom is expected after the breakdown of the level of 106.48. In this case, the goal is 105.71. Short-term downward movement, as well as consolidation is in the range 105.71 - 105.14. The breakdown of the level of 105.14 should be accompanied by a pronounced downward movement. Here, the goal is 104.45. For the potential value for the bottom, we consider the level of 104.00. After reaching which, we expect to go into a correction.
Care in the adjustment zone is expected after the breakdown of the level of 107.20. Here, the goal is 107.62. The range of 107.62 - 107.98 is the key support for the downward structure.
The main trend: the formation of the downward structure of August 1.
Trading recommendations:
Buy: 107.20 Take profit: 107.60
Buy : 107.62 Take profit: 107.98
Sell: 106.45 Take profit: 105.71
Sell: 105.69 Take profit: 105.20
For the Canadian dollar / US dollar pair, the key levels on the H1 scale are: 1.3324, 1.3297, 1.3256, 1.3224, 1.3175, 1.3156, 1.3129 and 1.3102. Here, we continue to monitor the local ascending structure of July 31. The continuation of the movement to the top is expected after the breakdown of the level of 1.3224. Here, the goal is 1.3256, where consolidation is near this level. The breakdown of the level 1.3257 should be accompanied by a pronounced upward movement. Here, the target is 1.3297. We consider the level of 1.3324 to be a potential value for the top. Upon reaching this level, we expect consolidation as well as a rollback to the bottom.
Short-term downward movement is possibly in the range of 1.3175 - 1.3156. The breakdown of the latter value will lead to a prolonged correction. Here, the goal is 1.3129. This level is a key support for the top.
The main trend is the local ascending structure of July 31.
Trading recommendations:
Buy: 1.3225 Take profit: 1.3255
Buy : 1.3257 Take profit: 1.3295
Sell: 1.3175 Take profit: 1.3156
Sell: 1.3153 Take profit: 1.3130
For a pair of Australian dollar / US dollar key levels on the H1 scale are : 0.6857, 0.6834, 0.6817, 0.6786, 0.6761 and 0.6738. Here, we are following the downward structure of July 31. The continuation of the downward trend is expected after the breakdown of the level of 0.6786. In this case, the target is 0.6761. For the potential value for the downward structure of July 31, we consider the level of 0.6738. Upon reaching which, we expect a rollback to the top.
Short-term upward movement is possibly in the range of 0.6817 - 0.6834. The breakdown of the latter value will lead to in-depth correction. Here, the target is 0.6857. This level is a key support for the downward structure.
The main trend is the local downward structure of July 31.
Trading recommendations:
Buy: 0.6817 Take profit: 0.6832
Buy: 0.6835 Take profit: 0.6855
Sell : 0.6786 Take profit : 0.6764
Sell: 0.6760 Take profit: 0.6738
For the euro / yen pair, the key levels on the H1 scale are: 119.52, 119.27, 118.94, 118.69, 118.22, 117.88 and 117.46. Here, we are following the development of the downward cycle of July 30th. Short-term downward movement is expected in the range of 118.22 - 117.88. Hence, there is a high probability of movement in the correction. For the potential value for the bottom, we consider the level of 117.46. From which, we expect a rollback to the top.
Short-term upward movement is possibly in the range of 118.69 - 118.94. The breakdown of the latter value will lead to a prolonged correction. Here, the target is 119.27. The range of 119.27 - 119.52 is a key support for the downward structure.
The main trend is the downward cycle of July 30th.
Trading recommendations:
Buy: 118.70 Take profit: 118.92
Buy: 118.96 Take profit: 119.27
Sell: 118.20 Take profit: 117.90
Sell: 117.86 Take profit: 117.46
For the pound / yen pair, the key levels on the H1 scale are : 130.86, 130.23, 129.80, 128.98, 128.30 and 127.85. Here, we are following the local downward structure of July 31. The continuation of the movement to the bottom is expected after the breakdown of the level of 128.98. In this case, the goal is 128.30. Price consolidation is in the range of 128.30 - 127.85.
Short-term upward movement is possibly in the range of 129.80 - 130.23. The breakdown of the latter value will lead to a prolonged correction. Here, the goal is 130.86. This level is a key support for the bottom.
The main trend is the local downward structure of July 31.
Trading recommendations:
Buy: 129.80 Take profit: 130.20
Buy: 130.26 Take profit: 130.84
Sell: 128.95 Take profit: 128.30
Sell: 128.28 Take profit: 127.85
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