Konstantin Boykachev

CEO Proforexea LLC

Honest Coder

Professional Trader

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Konstantin Boykachev

CEO Proforexea LLC

Honest Coder

Professional Trader

Blog Post

Fractal analysis for major currency pairs as of July 18

July 19, 2018 Analytics

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Dear colleagues.

For the EUR / USD pair, the price forms the potential for the top of July 13. The dynamics increase can be expected after 15:00. For the GBP / USD pair, the price forms the potential for the top of July 13. The development of this structure can be expected at 10:00 – 12:00. The breakdown at the level of 1.3248 is required. For the USD / CHF pair, the price is in correction from the upward trend. For the USD / JPY pair, the continuation of the development of the upward structure from July 9 is expected after passing the price of the noise range at 112.73 – 112.93. For the EUR / JPY pair, we follow the local upward structure of July 11. The level of 130.85 is the key support. For the GBP / JPY pair, the development of the local upward structure is possible after the breakdown of 149.45.

Forecast for July 18:

Analytical review of currency pairs in the scale of H1:

analytics5b4eaea5d593a.png

For the EUR / USD pair, the key levels on the scale of H1 are: 1.1769, 1.1750, 1.1719, 1.1669, 1.1650, 1.1613 and 1.1586. Here, the price is close to the lifting of the upward structure from July 13, which requires passing the level of 1.1650. In this case, the first target is 1.1613. The potential value for the bottom is still the level of 1.1586. The continuation of the upward movement is expected after the breakdown of 1.1719. In this case, the target is 1.1750. We still consider the level of 1.1769 to be a potential value for the top. After reaching this level, we expect the consolidation of the price.

The main trend is the formation of the potential for the top of July 13, the stage of deep correction.

Trading recommendations:

Buy: 1.1720 Take profit: 1.1750

Buy 1.1752 Take profit: 1.1767

Sell: 1.1648 Take profit: 1.1615

Sell: 1.1611 Take profit: 1.1588

analytics5b4eaeb5668fa.png

For the GBP / USD pair, the key levels on the scale of H1 are 1.3289, 1.3216, 1.3178, 1.3155, 1.3088, 1.3051, 1.3031 and 1.2993. Here, the price has canceled the development of the upward trend and we are following the local structure for the bottom of July 16. The continuation of the downward movement is expected after the breakdown of 1.3088. In this case, the target is 1.3051. In the area of 1.3051 – 1.3031 is the consolidation of the price. The potential value for the bottom is the level of 1.2993. Reaching this level can be expected on July 19 – 20.

Short-term upward movement is possible in the area of 1.3155 – 1.3178. The breakdown of the last value will lead to in-depth correction. Here, the target is 1.3216. The breakdown of this level will lead to the development of the upward structure. Here, the target is 1.3289.

The main trend is the formation of a local downward structure from July 16.

Trading recommendations:

Buy: 1.3155 Take profit: 1.3176

Buy: 1.3180 Take profit: 1.3214

Sell: 1.3086 Take profit: 1.3055

Sell: 1.3028 Take profit: 1.2995

analytics5b4eaec278854.png

For the USD / CHF pair, the key levels on the scale of H1 are: 1.0029, 1.0002, 0.9987, 0.9957, 0.9935, 0.9921, 0.9879 and 0.9852. Here, we follow the formation of a downward structure from July 13. At the moment, the price is in a deep correction. The continuation of the downward movement is expected after the breakdown of 0.9957. In this case, the target is 0.9935. Near this level is the consolidation of the price. Passing the price of the noise range of 0.9935 – 0.9921 should be accompanied by a pronounced movement towards the level of 0.9879. The potential value for the bottom is the level of 0.9852. The probable date of reaching it is July 18 – 19. Upon reaching this level, we expect a rollback upward.

Short-term upward movement is possible in the range of 1.0002 – 1.0029 hence, we expect a key down turn. The breakdown at the level of 1.0030 will lead to an upward tendency, the target here is 1.0068.

The main trend is the formation of a downward structure from July 13.

Trading recommendations:

Buy: 1.0002 Take profit: 1.0030

Buy: 1.0032 Take profit: 1.0065

Sell: 0.9955 Take profit: 0.9937

Sell: 0.9918 Take profit: 0.9882

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For the USD / JPY pair, the key levels on a scale are: 114.16, 113.78, 113.40, 112.68, 112.36, 112.09 and 111.71. Here, we expect the movement towards 113.40. In the area of 113.40 – 113.78 is short-term upward movement. The potential value for the top is level 114.16. Upon reaching this level, we expect a pullback downwards.

Departure towards correction is possible after the breakdown of 112.65. Here, the first target is 112.36. Short-term downward movement is possible in the area of 112.36 – 112.09. The breakdown of the last value will lead to the development of the downward structure. In this case, the potential target is 111.71.

The main trend is the upward structure of July 9.

Trading recommendations:

Buy: 113.42 Take profit: 113.76

Buy: 113.80 Take profit: 114.14

Sell: 112.65 Take profit: 112.38

Sell: 112.05 Take profit: 111.75

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For the CAD / USD pair, the key levels on the H1 scale are: 1.3384, 1.3247, 1.3193, 1.3071, 1.3025 and 1.2938. Here, the situation is still in an equilibrium state. Short-term upward movement is expected in the area of 1.3193 – 1.3247. The breakdown of the last value should lead to the formation of initial conditions for the upward cycle. Here, the potential target is 1.3384.

Short-term downward movement is possible in the area of 1.3071 – 1.3025. The breakdown of the latter value will lead to the formation of a potential for the downward movement. Here, the target is 1.2938.

The main trend is the equilibrium situation.

Trading recommendations:

Buy: 1.3250 Take profit: 1.3380

Buy: Take profit:

Sell: 1.3025 Take profit: 1.2940

Sell: Take profit:

analytics5b4eaee8ef193.png

For the AUD / USD pair, the key levels on the scale of H1 are: 0.7434, 0.7410, 0.7355, 0.7341, 0.7318 and 0.7281. Here, we follow a small downward cycle from July 9. At the moment, the price is in correction. A more dynamic development of the situation can be expected after 15:00. The continuation of the downward movement is expected after passing through the noise range of 0.7355 – 0.7341. In this case, the target is 0.7318. The potential value for the top is the level of 0.7281 (the probable date of reaching July 13)

Short-term upward movement is possible in the area of 0.7410 – 0.7434. The breakdown of the last value will lead to the development of an upward structure. Here, the potential target is 0.7483.

The main trend is the downward cycle from July 9, the correction stage.

Trading recommendations:

Buy: 0.7436 Take profit: 0.7465

Buy: 0.7411 Take profit: 0.7432

Sell: 0.7340 Take profit: 0.7320

Sell: 0.7316 Take profit: 0.7284

analytics5b4eaef51574b.png

For the of EUR / JPY pair, the key levels on the scale of H1 are: 133.11, 132.38, 132.01, 131.73, 131.20, 130.85 and 130.42. Here, we follow the local upward structure of July 11. Mainly, we expect the departure towards correction. Short-term upward movement is expected in the area of 131.73 – 132.01. The breakdown of the last value will allow us to count on the movement towards the level of 132.38. Near this level is the consolidation of the price and hence, there is a high probability of leaving towards correction. For the potential value for the top, consider the level of 133.11. The probable date of reaching this level is July 17 – 18. Upon reaching this level, we expect a pullback downwards.

Short-term downward movement is possible in the area of 131.20 – 130.85. The breakdown of the last value will lead to in-depth correction. Here, the target is 130.42. This level is the key support for the upward structure of July 11.

The main trend is a local structure for the top of 11 July.

Trading recommendations:

Buy: 131.73 Take profit: 131.00

Buy: 132.05 Take profit: 132.35

Sell: 131.15 Take profit: 130.90

Sell: 130.80 Take profit: 130.45

analytics5b4eaf01e6127.png

For the GBP / JPY pair, the key levels on the scale of H1 are: 151.26, 150.47, 150.11, 149.44, 149.01, 148.10, 147.58 and 147.04. Here, we follow the formation of the local upward structure from July 9. Mainly, we expect the departure towards correction. The continuation of the development of the upward structure of July 9 is expected after the breakdown of 149.01. The target is 149.44. From this area, there is a high probability of going down. The break at the level of 149.45 should be accompanied by a pronounced upward movement. Here, the target is 150.11. In the area of 150.11 – 150.47 is the consolidation of the price and from here, we expect a key turn down. The potential value for the top is the level of 151.26. The probable date of achievement is July 17 – 18.

Short-term downward movement is possible in the area of 148.10 – 147.58. The breakdown of the last value will lead to in-depth correction. Here, the target is 147.04. This level is the key support for the upward structure.

The main trend is a local structure for the top of July 9.

Trading recommendations:

Buy: 149.01 Take profit: 149.40

Buy: 149.48 Take profit: 150.10

Sell: 148.10 Take profit: 147.60

Sell: 147.55 Take profit: 147.07

The material has been provided by InstaForex Company – www.instaforex.com

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