17.06.201904:24 Forex Analysis & Reviews: Fractal analysis of major currency pairs on June 17

Forecast for June 17:

Analytical review of H1-scale currency pairs:

For the euro / dollar pair, the key levels on the H1 scale are: 1.1268, 1.1246, 1.1231, 1.1194, 1.1181, 1.1153 and 1.1131. Here, we are following the development of the downward cycle of June 12. Short-term downward movement is expected in the range of 1.1194 - 1.1181. The breakdown of the latter value will lead to a pronounced movement. Here, the goal is 1.1153. We consider the level of 1.1131 to be a potential value for the bottom. After reaching which, we expect consolidation, as well as a rollback to the top.

Short-term upward movement is possible in the range of 1.1231 - 1.1246. The breakdown of the last value will lead to a deep correction. Here, the goal is 1.1268. Up to this level, we expect the initial conditions for the upward cycle.

The main trend is the downward cycle of June 12.

Trading recommendations:

Buy 1.1231 Take profit: 1.1244

Buy 1.1247 Take profit: 1.1266

Sell: 1.1180 Take profit: 1.1155

Sell: 1.1150 Take profit: 1.1132

For the pound / dollar pair, the key levels on the H1 scale are: 1.2652, 1.2626, 1.2605, 1.2568, 1.2538, 1.2497 and 1.2471. Here, we follow the formation of the potential for the bottom of June 7. Short-term downward movement is expected in the range of 1.2568 - 1.2538. The breakdown of the latter value should be accompanied by a pronounced downward movement. Here, the target is 1.2497. For the potential value for the bottom, we consider the level of 1.2471. After reaching which, we expect consolidation, as well as a rollback to the correction.

Short-term upward movement is possible in the range of 1.2605 - 1.2626. The breakdown of the last value will lead to a prolonged correction. Here, the target is 1.2652. This level is a key support for the downward structure.

The main trend is the downward cycle of June 7.

Trading recommendations:

Buy: 1.2605 Take profit: 1.2625

Buy: 1.2627 Take profit: 1.2651

Sell: 1.2566 Take profit: 1.2540

Sell: 1.2536 Take profit: 1.2498

For the dollar / franc pair, the key levels on the H1 scale are: 1.0059, 1.0044, 1.0015, 0.9995, 0.9970, 0.9954 and 0.9934. Here, we are following the development of the ascending structure of June 7. Short-term upward movement is possible in the range of 0.9995 - 1.0015. The breakdown of the latter value should be accompanied by a pronounced upward movement. Here, the target is 1.0044. We consider the level of 1.0059 to be a potential value for the top. After reaching which, we expect consolidation as well as a rollback to the bottom.

Short-term downward movement is possible in the range of 0.9970 - 0.9954. The breakdown of the latter value will lead to the development of a prolonged correction. Here, the target is 0.9934. This level is a key support for the top.

The main trend is the upward cycle of June 7.

Trading recommendations:

Buy : 0.9995 Take profit: 1.0015

Buy : 1.0017 Take profit: 1.0044

Sell: 0.9970 Take profit: 0.9955

Sell: 0.9952 Take profit: 0.9936

For the dollar / yen pair, the key levels on the scale are : 109.58, 109.37, 109.01, 108.70, 108.08, 107.76 and 107.35. Here, the situation is in equilibrium. Short-term upward movement is possible in the range of 108.70 - 109.01. The breakdown of the latter value should be accompanied by a pronounced upward movement. Here, the target is 109.37. Meanwhile, there is a price consolidation in the range of 109.37 - 109.58.

The level of 108.08 is a key support for the ascending structure. Its price passage will lead to the development of a downward trend. Here, the first target is 107.76. For the potential value for the bottom, we consider the level of 107.35.

The main trend: the equilibrium state.

Trading recommendations:

Buy: 108.70 Take profit: 109.00

Buy : 109.03 Take profit: 109.37

Sell: 108.08 Take profit: 107.76

Sell: 107.74 Take profit: 107.37

For the Canadian dollar / US dollar pair, the key levels on the H1 scale are: 1.3564, 1.3515, 1.3492, 1.3451, 1.3424, 1.3385, 1.3364 and 1.3334. Here, we are following the development of the ascending structure of June 7. Short-term upward movement is expected in the range of 1.3424 - 1.3451. The breakdown of the last value should be accompanied by a pronounced upward movement. Here, the target is 1.3492. Meanwhile, in the range of 1.3492 - 1.3515, there is a short-term upward movement, as well as consolidation. We consider the level of 1.3564 as a potential value for the top, to which we expect movement, after the breakdown of the level of 1.3517.

Short-term downward movement is possible in the range of 1.3385 - 1.3364. The breakdown of the latter value will lead to a prolonged correction. Here, the target is 1.3334.

The main trend is the upward cycle of June 7.

Trading recommendations:

Buy: 1.3424 Take profit: 1.3450

Buy : 1.3453 Take profit: 1.3490

Sell: 1.3385 Take profit: 1.3365

Sell: 1.3363 Take profit: 1.3335

For the Australian dollar / US dollar pair, the key levels on the H1 scale are : 0.6919, 0.6896, 0.6883, 0.6859, 0.6830 and 0.6808. Here, we are following the development of the downward cycle of June 7th. The continuation of the movement to the bottom is expected after the breakdown of the level of 0.6859. In this case, the goal is 0.6830, wherein consolidation is near this level. For the potential value for the bottom, we consider the level of 0.6808. After reaching which, we expect a rollback to the top.

Short-term upward movement is possible in the range of 0.6883 - 0.6896. The breakdown of the last value will lead to a prolonged correction. Here, the goal is 0.6919. This level is a key support for the downward structure.

The main trend is the downward cycle of June 7.

Trading recommendations:

Buy: 0.6883 Take profit: 0.6895

Buy: 0.6897 Take profit: 0.6919

Sell : 0.6857 Take profit : 0.6833

Sell: 0.6828 Take profit: 0.6810

For the euro / yen pair, the key levels on the H1 scale are: 122.39, 122.09, 121.91, 121.39, 121.14, 120.75 and 120.54. Here, we are following the development of the downward cycle of June 11th. The continuation of the movement to the bottom is expected after the breakdown of the level of 121.39. In this case, the target is 121.14, wherein consolidation is near this level. The breakdown of the level of 121.14 must be accompanied by a pronounced downward movement. Here, the goal is 120.75. For the potential value for the bottom, we consider the level of 120.54. After reaching which, we expect a consolidation, as well as a departure to the correction.

Short-term upward movement is expected in the range of 121.91 - 122.09. The breakdown of the last value will lead to a prolonged correction. Here, the goal is 122.39. This level is a key support for the downward structure.

The main trend is the development of the downward structure of June 11.

Trading recommendations:

Buy: 121.91 Take profit: 122.09

Buy: 122.11 Take profit: 122.37

Sell: 121.39 Take profit: 121.18

Sell: 121.12 Take profit: 120.77

For the pound / yen pair, the key levels on the H1 scale are : 137.38, 137.05, 136.83, 136.36, 136.18, 135.88 and 135.47. Here, we are following the development of the downward structure of June 12. The continuation of the movement to the bottom is expected after the price passes the noise range 136.36 - 136.18. In this case, the target is 135.88, wherein price consolidation is near this level. For the potential value for the bottom, we consider the level of 135.47. After reaching which, we expect a rollback to the top.

Short-term upward movement is possible in the range of 136.83 - 137.05. The breakdown of the latter value will lead to in-depth correction. Here, the target is 137.38. This level is a key support for the downward structure.

The main trend - the downward structure of June 12.

Trading recommendations:

Buy: 136.83 Take profit: 137.03

Buy: 137.07 Take profit: 137.35

Sell: 136.18 Take profit: 135.90

Sell: 135.85 Take profit: 135.50