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Hello, dear colleagues.

For the Euro/Dollar pair, we follow the development of the downward structure from July 18 and we expect the continuation of the downward movement after the passage of the price of the range of 1.1160 – 1.1149. For the Pound/Dollar pair, the level of 1.2420 is the key support for the upward structure of July 17. For the Dollar/Franc pair, the development of the downward structure from July 17 is expected after the breakdown of 0.9779 and the level of 0.9858 is the key support. For the Dollar/Yen pair, we follow the development of the upward structure from July 18. For the Euro/Yen pair, we expect to reach the level of 120.62. For the Pound/Yen pair, the upward structure development from July 18 is expected after the breakdown of 135.04 and the level of 134.38 is the key support.

Forecast for July 23:

Analytical review of the currency pairs in H1 scale:

Exchange Rates 23.07.2019 analysis

For the Euro/Dollar pair, the key levels on the H1 scale are: 1.1212, 1.1192, 1.1178, 1.1160, 1.1149, and 1.129 1.1100. We identified the subsequent targets for the downward movement from the local structure on July 18. The continuation of the downward movement is expected after the price passage of the range of 1.1160 – 1.1149. In this case, the goal is 1.1129 and near this level is the consolidation. We consider the level of 1.1100 as a potential value for the bottom, upon reaching which, we expect a rollback to the top.

The short-term upward movement is possible in the area of 1.1178 – 1.1192 and the breakdown of the last value will lead to a protracted correction. The goal is 1.1212 and near this level is the consolidation.

The main trend is the local downward structure of July 18.

Trading recommendations:

Buy 1.1178 Take profit: 1.1190

Buy 1.1194 Take profit: 1.1212

Sell: 1.1149 Take profit: 1.1130

Sell: 1.1127 Take profit: 1.1100

Exchange Rates 23.07.2019 analysis

For the Pound/Dollar pair, the key levels on the H1 scale are: 1.2623, 1.2598, 1.2568, 1.2522, 1.2492, 1.2486, and 1.2420 1.2379. The price is close to the cancellation of the upward structure from July 17, which requires a breakdown of the level of 1.2420. In this case, the first potential target is 1.2379. The short-term upward movement is expected in the area of 1.2468 – 1.2492 and the breakdown of the last value will have to form a local structure for the top. The goal is 1.2522 and this level is the key resistance for the upward trend. Its breakdown should be accompanied by a pronounced upward movement to the potential goal – 1.2568.

The main trend is the formation of the upward structure from July 17, the stage of deep correction.

Trading recommendations:

Buy: 1.2468 Take profit: 1.2490

Buy: 1.2493 Take profit: 1.2522

Sell: 1.2420 Take profit: 1.2380

Sell: Take profit:

Exchange Rates 23.07.2019 analysis

For the Dollar/Franc pair, the key levels in the H1 scale are: 0.9902, 0.9881, 0.9858, 0.9841, 0.9798, 0.9779, and 0.9745 0.9731. We continue to monitor the formation of the downward structure of July 17. The short-term downward movement is expected in the area of 0.9798 – 0.9779 and the breakdown of the last value should be accompanied by a pronounced downward movement. The goal is 0.9745. The potential value for the bottom is the level 0.9731, upon reaching which we expect consolidation, as well as a rollback to the top.

The short-term upward movement is possible in the area of 0.9841 – 0.9858 and the breakdown of the last value will lead to an in-depth correction. The goal is 0.9881 and this level is the key support for the downward structure.

The main trend is the local downward structure of July 17.

Trading recommendations:

Buy: 0.9841 Take profit: 0.9856

Buy: 0.9860 Take profit: 0.9880

Sell: 0.9798 Take profit: 0.9780

Sell: 0.9776 Take profit: 0.9747

Exchange Rates 23.07.2019 analysis

For the Dollar/Yen pair, the key levels in the H1 scale are: 108.94, 108.72, 108.39, 108.26, 107.97, and 107.83 107.58. We follow the development of the upward structure from July 18. We expect the movement to continue to the top after the price passes the range of 108.26 – 108.39. In this case, the target is 108.72. We consider the level of 108.94 as a potential value for the top, upon reaching which, we expect consolidation, as well as a rollback to the bottom.

The short-term downward movement is possible in the area of 107.97 – 107.83 and the breakdown of the last value will lead to a protracted correction. The goal is 107.60 and this level is the key support for the upward structure.

The main trend: the upward structure of July 18.

Trading recommendations:

Buy: 108.40 Take profit: 108.70

Buy: 108.73 Take profit: 108.94

Sell: 107.96 Take profit: 107.84

Sell: 107.81 Take profit: 107.60

Exchange Rates 23.07.2019 analysis

For the Canadian dollar/Dollar pair, the key levels on the H1 scale are: 1.3256, 1.3236, 1.3201, 1.3178, 1.3163, 1.3130, 1.3112 and 1.3085. We follow the upward structure from July 19. We expect the movement to continue to the top after the price passes the range of 1.3163 – 1.3178. In this case, the target is 1.3201 and near this level is the consolidation. The breakdown of the level of 1.3201 will lead to significant motion. The target – 1.3236. We consider the level of 1.3256 as a potential value for the top, upon reaching which, we expect a rollback to the bottom.

The short-term downward movement is possible in the area of 1.3130 – 1.3112 and the breakdown of the last value will lead to a protracted correction. The goal is 1.3085 and this level is the key support for the top.

The main trend is the upward structure of July 19.

Trading recommendations:

Buy: 1.3178 Take profit: 1.3200

Buy: 1.3203 Take profit: 1.3234

Sell: 1.3130 Take profit: 1.3112

Sell: 1.3110 Take profit: 1.3085

Exchange Rates 23.07.2019 analysis

For the Australian dollar/Dollar pair, the key levels on the H1 scale are: 0.7145, 0.7111, 0.7101, 0.7085, 0.7066, 0.7050, 0.7015, and 0.6995 0.6977. We expect the cancellation of the upward structure development from July 17 after the breakdown of 0.7015. In this case, the first goal is 0.6995. We consider the level of 0. 0.6977 as a potential value for the bottom, near which consolidation is expected. The short-term upward movement is possible in the range of 0.7050 – 0.7066 and the breakdown of the last value will lead to the development of the upward structure from July 17. The first target is 0.7085.

The main trend is the local structure for the top of July 17, the stage of deep correction.

Trading recommendations:

Buy: 0.7050 Take profit: 0.7064

Buy: 0.7067 Take profit: 0.7085

Sell: 0.7013 Take profit: 0.6995

Sell: 0.6993 Take profit: 0.6978

Exchange Rates 23.07.2019 analysis

For the Euro/Yen pair, the key levels on the H1 scale are: 121.66, 121.35, 121.18, 120.92, 120.62, 120.48, and 120.14 119.91. We expect to reach the level of 120.62 and in the area of 120.62 – 120.48 is the price consolidation. The breakdown of the level of 120.46 should be accompanied by a pronounced downward movement. The goal is 120.14. We consider the level of 119.91 as a potential value for the bottom, upon reaching which, we expect a rollback to the top.

The short-term upward movement is possible in the area of 121.18 – 121.35 and the breakdown of the last value will lead to a protracted correction. The goal is 121.66 and this level is the key support for the downward structure.

The main trend is the downward structure of July 10.

Trading recommendations:

Buy: 121.18 Take profit: 121.33

Buy: 121.37 Take profit: 121.66

Sell: 120.90 Take profit: 120.62

Sell: 120.46 Take profit: 120.14

Exchange Rates 23.07.2019 analysis

For the Pound/Yen pair, the key levels on the H1 scale are: 135.96, 135.63, 135.40, 135.04, 134.79, 134.38, 134.15, and 133.81 133.44. The price forms the expressed initial conditions for the top of July 18. The short-term upward movement is expected in the area of 134.79 – 135.04 and the breakdown of the last value should be accompanied by a pronounced upward movement. The goal is 135.40 and in the area of 135.40 – 135.63 is the short-term upward movement, as well as consolidation. We consider the level of 135.96 as a potential value for the top, upon reaching which, we expect consolidation, as well as a rollback to the bottom.

The short-term downward movement is possible in the range of 134.38 – 134.15 and the breakdown of the last value will have to develop a downward trend. The goal is 133.81. We consider the level of 133.44 as a potential value for the bottom.

The main trend is the downward cycle of July 9, the formation of the potential for the top of July 18.

Trading recommendations:

Buy: 135.06 Take profit: 135.40

Buy: 135.42 Take profit: 135.62

Sell: 134.38 Take profit: 134.17

Sell: 134.12 Take profit: 133.81

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

Performed by Daichi Takahashi,
Analytical expert
InstaForex Group © 2007-2019
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