07.06.201903:59 Forex Analysis & Reviews: Fractal analysis of major currency pairs for June 7

Forecast for June 7:

Analytical review of H1-scale currency pairs:

For the euro/dollar pair, the key levels on the H1 scale are: 1.1363, 1.1331, 1.1305, 1.1259, 1.1238, 1.1214 and 1.1198. Here, the price has issued a local structure from June 5 to continue the movement to the top. The subsequent development of the upward movement is expected after the breakdown of the level of 1.1305. Here, the target is 1.1331, wherein consolidation is near this level. For the potential value for the top, we consider the level of 1.1363, after reaching which, we expect a rollback to the bottom.

Short-term downward movement is possible in the range of 1.1259 - 1.1238. The breakdown of the latter value will have the formation of a downward structure. Here, the goal is 1.1214. The noise range is 1.1214 - 1.1198.

The main trend is the formation of a local structure for the top of June 5.

Trading recommendations:

Buy 1.1305 Take profit: 1.1330

Buy 1.1333 Take profit: 1.1362

Sell: 1.1258 Take profit: 1.1240

Sell: 1.1236 Take profit: 1.1216

For the pound/dollar pair, the key levels on the H1 scale are: 1.2808, 1.2789, 1.2754, 1.2727, 1.2687, 1.2667 and 1.2633. Here, we continue to monitor the development of the upward cycle of May 31. At the moment, the price is in the correction area. Continuation of the movement to the top is expected after the breakdown of the level of 1.2727. In this case, the goal is 1.2754, wherein near this level, there is a price consolidation. The breakdown of the level of 1.2755 should be accompanied by a pronounced upward movement. Here, the goal is 1.2808. Meanwhile, in the range of 1.2789 - 1.2808, there is a price consolidation. From here, we expect a rollback to the bottom.

Short-term downward movement is possible in the range of 1.2687 - 1.2667. The breakdown of the latter value will lead to a prolonged correction. Here, the target is 1.2633. This level is a key support for the ascending structure.

The main trend is the upward cycle of May 31, the stage of correction.

Trading recommendations:

Buy: 1.2728 Take profit: 1.2752

Buy: 1.2755 Take profit: 1.2787

Sell: 1.2686 Take profit: 1.2668

Sell: 1.2664 Take profit: 1.2638

For the dollar/franc pair, the key levels on the H1 scale are: 1.0048, 1.0024, 0.9987, 0.9970, 0.9954, 0.9925, 0.9903, 0.9876 and 0.9840. Here, the price forms the potential for upward movement from June 5th. Continuation of the movement to the top is expected after the breakdown of the level of 0.9954. In this case, the target is 0.9970, wherein consolidation is near this level. The passage of the price range of 0.9970 - 0.9987 will lead to the development of a pronounced upward movement. In this case, the target is 1.0024. We consider the level of 1.0048 as a potential value for the top. Upon reaching this level, we expect consolidation, as well as a rollback to the bottom.

Consolidated movement is possible in the range of 0.9925 - 0.9903. The breakdown of the last value will lead to a prolonged correction. Here, the goal is 0.9876. This level is a key support for the top, while its price passage will lead to the subsequent development of the main trend. Here, the potential goal is 0.9840.

The main trend is the downward cycle of May 30, the formation of potential for the top of June 5.

Trading recommendations:

Buy : 0.9955 Take profit: 0.9970

Buy : 0.9988 Take profit: 1.0024

Sell: 0.9901 Take profit: 0.9878

Sell: 0.9874 Take profit: 0.9840

For the dollar/yen pair, the key levels on the scale are : 108.84, 108.43, 107.76, 107.44 and 106.99. Here, we continue to monitor the downward structure of May 30. Short-term downward movement is expected in the range of 107.76 - 107.44. The breakdown of the last value will lead to the movement to the potential target - 106.99. Upon reaching this level, we expect a rollback to the top.

Short-term upward movement, as well as consolidation, are possible in the range of 108.45 - 108.84. The level of 108.84 is a key support for the downward structure. Its price passage will lead to the formation of the initial conditions for the upward cycle.

The main trend: the local structure for the bottom of May 30, the stage of correction.

Trading recommendations:

Buy: 108.45 Take profit: 108.82

Buy: Take profit:

Sell: 107.74 Take profit: 107.45

Sell: 107.42 Take profit: 107.00

For the Canadian dollar/US Dollar pair, the key levels on the H1 scale are: 1.3432, 1.3403, 1.3379, 1.3339, 1.3299 and 1.3250. Here, we are following the development of the downward structure of May 31. The continuation of the development of the main trend is expected after the breakdown of the level of 1.3339. In this case, the goal is 1.3299, wherein price consolidation is near this level. For the potential value for the bottom, we consider the level of 1.3250. After reaching which, we expect a rollback to the top.

Short-term upward movement is possible in the range of 1.3379 - 1.3403. The breakdown of the latter value will lead to a prolonged correction. Here, the target is 1.3432. This level is a key support for the bottom.

The main trend is the downward structure of May 31.

Trading recommendations:

Buy: 1.3379 Take profit: 1.3403

Buy : 1.3404 Take profit: 1.3432

Sell: 1.3339 Take profit: 1.3300

Sell: 1.3297 Take profit: 1.3250

For the pair Australian dollar/US Dollar, the key levels on the H1 scale are : 0.7058, 0.7042, 0.7013, 0.7003, 0.6987, 0.6953, 0.6941 and 0.6924. Here, we are following the ascending structure of May 23. At the moment, the price is in deep correction. Continuation of the movement to the top is expected after the breakdown of the level of 0.6987. Here, the first target is 0.7003. The passage of the price of the noise range 0.7003 - 0.7013 will lead to the development of a pronounced movement. In this case, the goal is 0.7042. For the potential value for the top, we consider the level of 0.7058. After reaching which, we expect a consolidation, as well as rollback to the bottom.

The range of 0.6953 - 0.6941 is a key support for the top. Its price passage will lead to the formation of the initial conditions for the downward cycle. In this case, the potential target is 0.6924.

The main trend is the ascending structure of May 23, the stage of deep correction.

Trading recommendations:

Buy: 0.6988 Take profit: 0.7003

Buy: 0.7014 Take profit: 0.7040

Sell : 0.6953 Take profit : 0.6943

Sell: 0.6939 Take profit: 0.6925

For the euro/yen pair, the key levels on the H1 scale are: 123.47, 123.06, 122.87, 122.54, 122.31, 121.98, 121.71 and 121.37. Here, we continue to monitor the ascending structure of June 3. Continuation of the movement to the top is expected after the price passes the noise range of 122.31 - 122.54. In this case, the goal is 122.87. Meanwhile, in the range of 122.87 - 123.06, there is a price consolidation. For the potential value for the top, we consider the level of 123.47. After reaching which, we expect to go into a correction.

Short-term downward movement is expected in the range of 121.98 - 121.71. The breakdown of the last value will lead to a prolonged correction. Here, the goal is 121.37. This level is a key support for the top.

The main trend is the ascending cycle of June 3.

Trading recommendations:

Buy: 122.55 Take profit: 122.87

Buy: 123.06 Take profit: 123.47

Sell: 121.98 Take profit: 121.73

Sell: 121.69 Take profit: 121.40

For the pound/yen pair, the key levels on the H1 scale are : 138.39, 137.83, 137.49, 136.52, 135.98, 135.48 and 134.82. Here, the price is still in the correction zone from the downward trend and forms a small potential for the top of June 4. Continuation of the development of the downward trend of May 21 is expected after the breakdown of the level of 136.50. In this case, the target is 135.98. The breakdown of which, in turn, will allow us to expect to move to the level of 135.48, wherein consolidation is near this value, and also from here, there is a high probability of a reversal in the correction. For the potential value for the bottom, we consider the level of 134.82.

Short-term upward movement is expected in the range of 137.49 - 137.83. The breakdown of the last value will lead to a prolonged correction. Here, the target is 138.39. The noise range is 138.39 - 138.76.

The main trend is the local downward structure of May 21, the stage of correction.

Trading recommendations:

Buy: 136.50 Take profit: 136.00

Buy: 135.94 Take profit: 135.50

Sell: 137.46 Take profit: 136.90

Sell: 135.44 Take profit: 134.84