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02.07.202111:03 Forex Analysis & Reviews: Fractal analysis of major currency pairs on July 2, 2021

Outlook on July 2:

Analytical overview of popular currency pairs on the H1 chart:

Exchange Rates 02.07.2021 analysis

The key levels for the EUR/USD pair are 1.1976, 1.1928, 1.1890, 1.1866, 1.1834, 1.1807, 1.1766, 1.1741, and 1.1688. The price has been moving in a downward trend since June 9. Now, we expect a short-term decline in the 1.1834 - 1.1807 range. If the last value is broken, strong movement will continue to the target of 1.1766. After that, the price may consolidate in the range of 1.1766 - 1.1741. The final potential downward target is 1.1688. After reaching it, an upward pullback will occur.

A short-term growth, in turn, is possible in the range of 1.1866 - 1.1890. If the latter is broken, a deep correction will occur. The target is set at 1.1928, which is also the key support level.

The main trend is a local downward trend from June 9.

Trading recommendations:

Buy: 1.1866 Take profit: 1.1890

Buy: 1.1892 Take profit: 1.1928

Sell: 1.1834 Take profit: 1.1808

Sell: 1.1806 Take profit: 1.1767

Exchange Rates 02.07.2021 analysis

The key levels for the GBP/USD pair are 1.3863, 1.3823, 1.3786, 1.3734, 1.3710, 1.3660, 1.3637, and 1.3602. The price has been moving in a downward trend since June 23. Here, we expect a short-term decline in the range of 1.3734 - 1.3710. If the latter breaks down, a strong decline will continue to the target of 1.3660. After that, the price can consolidate in the range of 1.3660 - 1.3637. The ultimate potential downward target is 1.3602. After reaching it, the price may pull back upwards.

Short-term growth is likely in the 1.3786 - 1.3823 range. If the level of 1.3823 is broken, a deep correction may follow. The target is set at 1.3863, which is also the key support level.

The main trend is the downward trend from June 23

Trading recommendations:

Buy: 1.3786 Take profit: 1.3820

Buy: 1.3825 Take profit: 1.3863

Sell: 1.3710 Take profit: 1.3662

Sell: 1.3660 Take profit: 1.3638

Exchange Rates 02.07.2021 analysis

The key levels for the USD/CHF pair are 0.9364, 0.9331, 0.9315, 0.9291, 0.9269, 0.9234, 0.9212 and 0.9188. The price has been moving in a local upward trend since June 25. We expect a short-term upward movement in the range of 0.9269 - 0.9291. If the latter is broken, it will allow us to move to the level of 0.9315. It will be followed by another short-term growth and consolidation in the range of 0.9315 - 0.9331. The final potential upward target is 0.9364. After reaching it, a downward pullback can be expected.

A short-term decline is likely in the 0.9234 - 0.9212 range. If the last value is broken, a deep correction will occur. The target is set at 0.9188, which is also the key support level.

The main trend is the upward trend from June 9, the local upward trend from June 25.

Trading recommendations:

Buy: 0.9270 Take profit: 0.9290

Buy: 0.9292 Take profit: 0.9315

Sell: 0.9234 Take profit: 0.9212

Sell: 0.9211 Take profit: 0.9190

Exchange Rates 02.07.2021 analysis

The key levels for the USD/JPY pair are 112.52, 112.29, 111.94, 111.61, 111.21, 110.97 and 110.69. We are following the local upward trend from June 21. In this case, we expect a short-term growth in the range of 111.61 - 111.94. If the last value is broken, strong growth will continue to the target of 112.29. The ultimate potential upward target is 112.52. After reaching it, the price may consolidate and pull back downwards.

A short-term decline is possible in the range of 111.21 - 110.97. If the level of 110.97 is broken, a deep correction will occur. The target is set at 110.69, which is also the key support level.

The main trend is the local upward trend from June 21.

Trading recommendations:

Buy: 111.63 Take profit: 111.94

Buy: 111.96 Take profit: 112.29

Sell: 111.21 Take profit: 110.98

Sell: 110.95 Take profit: 110.70

Exchange Rates 02.07.2021 analysis

The key levels for the USD/CAD pair are 1.2575, 1.2545, 1.2525, 1.2486, 1.2465, 1.2407, 1.2375, and 1.2353. The price has been moving in a bullish trend since June 23. We expect this trend to extend after the breakdown of the range 1.2465 - 1.2486. Here, the target is set at 1.2525. After that, short-term growth can be expected in the 1.2525 - 1.2545 range. The final potential upward target is 1.2575. After reaching it, a downward pullback can be expected.

On the other hand, a short-term downward trend is possible in the range of 1.2407 - 1.2375. The key support for the upside is the range of 1.2375 - 1.2353.

The main trend is the upward structure from June 23

Trading recommendations:

Buy: 1.2486 Take profit: 1.2525

Buy: 1.2545 Take profit: 1.2575

Sell: 1.2406 Take profit: 1.2375

Sell: Take profit:

Exchange Rates 02.07.2021 analysis

The key levels for the AUD/USD pair are 0.7567, 0.7536, 0.7485, 0.7468, 0.7427 and 0.7408. The price has been moving in a downward trend since June 25. We expect this trend to resume after the price breaks through the 0.7485 - 0.7468 range. The target is set at 0.7427. The ultimate potential downward target is 0.7408. After reaching it, the price may consolidate and pull back upwards.

Meanwhile, short-term growth is possible in the 0.7516 - 0.7536 range. If the level of 0.7536 is broken, a deep correction will occur. The target is set at 0.7567, which is also the key support level.

The main trend is the downward trend from June 25.

Trading recommendations:

Buy: 0.7516 Take profit: 0.7534

Buy: 0.7538 Take profit: 0.7565

Sell: 0.7467 Take profit: 0.7430

Sell: 0.7425 Take profit: 0.7408

Exchange Rates 02.07.2021 analysis

The key levels for the EUR/JPY pair are 133.65, 133.29, 133.11, 132.67, 132.41, 131.94, 131.65, 131.22, and 131.22. The subsequent upward targets have been determined from the local upward trend of June 30 Now, we expect a short-term growth in the 132.41 - 132.67 range. If the latter is broken, strong growth will continue to the target of 133.11. After that, the price may consolidate in the range of 133.11 - 133.29. The final potential upward target is set at 133.65. After reaching it, a downward target can be expected.

A short-term decline can be expected in the range of 131.94 - 131.65, hence an upward reversal is very likely. If the latter is broken, this will encourage the development of a downward trend. The first potential target is 131.22.

The main trend is the local upward trend of June 30.

Trading recommendations:

Buy: 132.41 Take profit: 132.65

Buy: 132.68 Take profit: 133.11

Sell: 131.94 Take profit: 131.67

Sell: 131.63 Take profit: 131.22

Exchange Rates 02.07.2021 analysis

The key levels for the GBP/JPY pair are 154.09, 153.63, 152.80, 152.38, 151.97, 151.68, and 151.06. The price has been moving in a bearish trend since June 23, but it is currently in a correction and forms an upward potential from June 29. We expect a short-term decline in the 152.80 - 152.38 range. If the latter is broken, it will allow us to move to the level of 151.97. After that, the price may consolidate in the range of 151.97 - 151.68. The ultimate potential downward target is 151.06. After reaching it, the price may pull back upwards.

Short-term growth can be expected in the 153.63 - 154.09 range. We expect the initial conditions for the upward trend to be formed up to the level of 154.09. In general, an upward trend is expected after the level of 154.10 is broken. The potential target is set at 154.61.

The main trend is the downward trend from June 23, correction stage.

Trading recommendations:

Buy: 153.65 Take profit: 154.09

Buy: 154.14 Take profit: 154.60

Sell: 152.78 Take profit: 152.40

Sell: 152.36 Take profit: 152.00

*Účelem zde zveřejněné analýzy trhu je zvýšení vašeho povědomí, nikoli dávání pokynů k obchodování.

Daichi Takahashi,
Odborný analytik společnosti InstaForex
© 2007-2021
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