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Outlook on May 26:
Analytical overview of popular currency pairs on the H1 TF:
The key levels for the EUR/USD pair are 1.2359, 1.2314, 1.2290, 1.2259, 1.2245, 1.2213, 1.2190 and 1.2161. The price is expected to continue its growth after it breaks through the range of 1.2245 - 1.2259. The target is set at 1.2290. After that, short-term growth and consolidation may occur in the 1.2290 - 1.2314 range. The final potential upward target is 1.2359. After reaching it, a downward pullback can be expected.
A short-term decline, in turn, is likely in the range of 1.2213 - 1.2190. If the last value breaks down, a deep correction will occur. The target is set at 1.2161, which is the key support level.
The main trend is the local upward trend from May 13.
Trading recommendations:
Buy: 1.2260 Take profit: 1.2290
Buy: 1.2292 Take profit: 1.2314
Sell: 1.2213 Take profit: 1.2192
Sell: 1.2189 Take profit: 1.2161
The key levels for the GBP/USD pair are 1.4343, 1.4323, 1.4275, 1.4252, 1.4221, 1.4174, 1.4109, 1.4085, 1.4045 and 1.4007. The price has been moving in an upward trend since May 13. We expect this trend to resume after the level of 1.4174 is broken. The first target is 1.4221, whose breakdown will allow us to move to the level of 1.4252. After that, the price may consolidate in the range of 1.4252 - 1.4275. If the latter is broken, it should be accompanied by a strong decline towards the potential target of 1.4343. After reaching this level, the price may consolidate and pull back downwards.
A short-term decline is possible in the range of 1.4109 - 1.4085. If the latter breaks down, it will encourage the development of a downward trend. Here, the first potential target is 1.4045 and consolidation is near it.
The main trend is the local upward trend from May 13.
Trading recommendations:
Buy: 1.4174 Take profit: 1.4220
Buy: 1.4221 Take profit: 1.4252
Sell: 1.4109 Take profit: 1.4087
Sell: 1.4085 Take profit: 1.4047
The key levels for the USD/CHF pair are 0.9020, 0.8993, 0..8976, 0.8956, 0.8942, 0.8919 and 0.8903. The downward trend from May 12 is considered as the main trend. We expect a short-term decline in the range of 0.8956- 0.8942. If the level of 0.8942 breaks down, a strong decline will continue to the target of 0.8919. The ultimate potential downward target is 0.8903. After reaching this level, a price consolidation and upward pullback can be expected.
Meanwhile, short-term growth is expected in the range of 0.8976 - 0.8993. If the last value is broken, a deep correction will occur. The target is set at 0.9020, which is also the key support level. The price breaking through it will cause the formation of initial conditions for an upward trend. The potential target is set at 0.9046.
The main trend is the downward trend from May 12.
Trading recommendations:
Buy: 0.8976 Take profit: 0.8991
Buy: 0.8995 Take profit: 0.9020
Sell: 0.8956 Take profit: 0.8943
Sell: 0.8940 Take profit: 0.8920
The key levels for the USD/JPY pair are 109.35, 109.10, 108.95, 108.72, 108.59, 108.28 and 108.09. The price has been moving in a bearish trend since May 20. Thus, we expect a short-term decline in the 108.72 - 108.59 range. If the latter breaks down, a strong decline will continue to the next target of 108.28. The final potential downward target is 108.09. After reaching it, an upward pullback can be expected.
On the other hand, short-term growth in the range of 108.95 - 109.10 is possible. If the level of 109.10 breaks down, this will lead to the formation of an upward trend. The potential target is 109.35.
The main trend is the local downward trend from May 20.
Trading recommendations:
Buy: 108.95 Take profit: 109.10
Buy: 109.12 Take profit: 109.33
Sell: 108.72 Take profit: 108.61
Sell: 108.57 Take profit: 108.30
The key levels for the USD/CAD pair are 1.2143, 1.2097, 1.2053, 1.2016, 1.1978, 1.1950, and 1.1897. The price has been moving in a downward trend since May 19. So, we expect a short-term decline in the range of 1.2053 - 1.2016. If the latter breaks down, this will lead to a movement to the level of 1.1978. Afterward, the price may consolidate in the 1.1978 - 1.1950 range. The ultimate potential downward target is 1.1897. After reaching it, an upward pullback is possible.
The key support for the downward trend from May 19 is the level of 1.2097. The breakdown of which will lead to the formation of an upward trend. The first target is 1.2143.
The main trend is the downward trend from May 19.
Trading recommendations:
Buy: 1.2097 Take profit: 1.2143
Buy: Take profit:
Sell: 1.2052 Take profit: 1.2017
Sell: 1.2015 Take profit: 1.1978
The key levels for the AUD/USD pair are 0.7895, 0.7866, 0.7827, 0.7815, 0.7766, 0.7742, 0.7728 and 0.7690. The price has been moving in a bullish trend since May 13. We expect this trend to extend after the price breaks through the range of 0.7815 - 0.7827. The target is set at 0.7866, and the price may consolidate near it. The final potential upward target is 0.7895. After reaching it, a downward pullback can be expected.
A short-term decline is possible in the 0.7766 - 0.7742 range. The key support is 0.7742 - 0.7728. If the price breaks through it, the downward trend will develop. The potential target is 0.7690.
The main trend is the upward trend from May 13.
Trading recommendations:
Buy: 0.7828 Take profit: 0.7865
Buy: 0.7868 Take profit: 0.7895
Sell: 0.7765 Take profit: 0.7743
Sell: 0.7727 Take profit: 0.7692
The key levels for the EUR/JPY pair are 134.74, 134.39, 133.98, 133.71, 133.03, 132.80 and 132.48. The subsequent targets for the upward trend from the local trend on May 24 are already determined. Now, we expect a short-term growth in the 133.71 - 133.98 range. If the latter is broken, strong growth will resume to the next target of 134.39. The price may consolidate around it. The final potential upward target is 134.74. After reaching it, a downward pullback can be expected.
A short-term decline can be expected in the range of 133.03 - 132.80. If the last value breaks down, this will favor the development of a downward movement. The first potential target is 132.48.
The main trend is the local upward trend from May 24.
Trading recommendations:
Buy: 133.71 Take profit: 133.96
Buy: 134.00 Take profit: 134.39
Sell: 133.03 Take profit: 132.80
Sell: 132.79 Take profit: 132.50
The key levels for the GBP/JPY pair are 156.01, 154.97, 154.51, 153.42, 152.96 and 152.16. The price has been moving in an upward trend since April 23. In this case, we expect a short-term growth in the range of 154.51 - 154.97. The final potential upward target is set at 156.01, from which a downward pullback may occur.
In turn, a short-term decline can be expected in the 153.42 - 152.96 range. If the latter breaks down, a deep correction will occur. The target is set at 152.16.
The main trend is the upward trend from April 23.
Trading recommendations:
Buy: 154.51 Take profit: 154.96
Buy: 155.00 Take profit: 156.00
Sell: 153.40 Take profit: 152.96
Sell: 152.94 Take profit: 152.20
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