Forecast for June 20:
Analytical review of currency pairs in the H1 scale:
For the EUR/USD pair, the key levels on the H1 scale are: 1.1683, 1.1640, 1.1611, 1.1542, 1.1511, 1.1491 and 1.1451. Here, we follow the development of the downward structure of June 7. The downward movement is expected to continue after the breakdown of 1.1542, in this case the target is 1.1511, in the corridor 1.1511 - 1.1491 consolidation. The potential value for the bottom is the 1.1451 level, and we expect a rollback to the top.
Short-term upward movement and consolidation are possible in the corridor 1.1611 - 1.1640, the breakdown of the last value will lead to an in-depth correction, with the target at 1.1683. This level is the key support for the downward movement.
The main trend is the downward cycle from June 7.
Trading recommendations:
Buy: 1.1611 Take profit: 1.1638
Buy 1.1641 Take profit: 1.1680
Sell: 1.1540 Take profit: 1.1511
Sell: 1.1490 Take profit: 1.1453
For the Pound/Dollar pair, the key levels on the H1 scale are 1.3311, 1.3281, 1.3225, 1.3191, 1.3112, 1.3071 and 1.3030. Here, we follow the development of the downward structure of June 7. Short-term downward movement is expected in the corridor 1.3112 - 1.3071, the breakdown of the last value will lead to a move near the potential target at 1.3030, which we expect a rollback to the top.
Short-term upward movement is possible in the corridor 1.3191 - 1.3225, the breakdown of the last value will lead to an in-depth correction, with the target at 1.3281. The range 1.3281 - 1.3311 is the key support for the downward movement, prior that, we expect the initial conditions for the upward cycle to be formalized.
The main trend is the downward cycle from June 7.
Trading recommendations:
Buy: 1.3191 Take profit: 1.3225
Buy: 1.3228 Take profit: 1.3280
Sell: 1.3112 Take profit: 1.3075
Sell: 1.3068 Take profit: 1.3035
For the Dollar/Franc pair, the key levels on the H1 scale are: 1.0092, 1.0048, 1.0025, 0.9990, 0.9949, 0.9924 and 0.9890. Here, we continue to follow the upward cycle from June 7, where the price is currently in correction. The upward movement is expected to continue after the breakdown of 0.9990, in this case the target is 1.0025, in the corridor 1.0025 - 1.0048 consolidation. The potential value for the top is the level of 1.0092 after the breakdown at 1.0050.
Short-term downward movement and consolidation are possible in the corridor 0.9949 - 0.9924. The breakdown of the last value will lead to an in-depth correction, with the target at 0.9890 which is the key support level for the top.
The main trend is the upward cycle from June 7, the correction stage.
Trading recommendations:
Buy: 0.9990 Take profit: 1.0025
Buy: 1.0050 Take profit: 1.0090
Sell: 0.9947 Take profit: 0.9926
Sell: 0.9922 Take profit: 0.9892
For the Dollar/Yen pair, the key levels on the scale are: 112.24, 111.90, 111.31, 110.92, 110.69, 110.15, 109.79, 109.46 and 108.91. Here, we continue to follow the formation of the local structure for the top of June 8. Currently, the price is in correction. The continuation of the upward movement is expected after passing through the price range of 110.69 - 110.92, in this case the target is 111.31. We consider the level 112.24 to be a potential value for the top, and we expect consolidation in the corridor 112.24 - 111.90.
Consolidated movement is expected in the range of 110.15 - 109.79. Short-term downward movement is possible in the corridor 109.79 - 109.46, and the breakdown of the latter value will develop a downward structure, with the potential target at 108.91.
The main trend: a local structure for the top of June 8.
Trading recommendations:
Buy: 110.92 Take profit: 111.30
Buy: 111.33 Take profit: 111.90
Sell: 109.76 Take profit: 109.48
Sell: 109.44 Take profit: 108.95
For the Canadian Dollar/US Dollar pair, the key levels on the H1 scale are: 1.3454, 1.3400, 1.3340, 1.3260, 1.3219, 1.3159 and 1.3116. Here, we follow the local upward structure of May 31. The upward movement is expected to continue after the breakdown of 1.3340, in this case the target is 1.3400 near the consolidation area. The potential value for the top is the level of 1.3454 and a downward pullback is expected from this level.
Short-term downward movement is possible in the corridor 1.3260 - 1.3219. The breakdown of the last value will lead to an in-depth correction, with the target at 1.3160. The range 1.3159 - 1.3116 is the key support for the top.
The main trend is the upward structure of May 31.
Trading recommendations:
Buy: 1.3340 Take profit: 1.3400
Buy: 1.3402 Take profit: 1.3452
Sell: 1.3260 Take profit: 1.3220
Sell: 1.3216 Take profit: 1.3160
For the Australian Dollar/US Dollar pair, the key levels on the H1 scale are: 0.7569, 0.7512, 0.7440, 0.7400, 0.7322, 0.7262 and 0.7216. Here, we continue to follow the downward cycle from June 6. The downward movement is expected to continue after the breakdown of the 0.7322 level, the target here is 0.7262, in the corridor 0.7262 - 0.7216 consolidation and we expect a key upward turn from this point.
Short-term upward movement is possible in the corridor 0.7400 - 0.7440, the breakdown of the last value will lead to an in-depth correction with the target at 0.7512. We expect initial conditions for the upward cycle to reach the level of 0.7569.
The main trend is the downward cycle from June 6.
Trading recommendations:
Buy: 0.7400 Take profit: 0.7440
Buy: 0.7442 Take profit: 0.7510
Sell: 0.7320 Take profit: 0.7264
Sell: 0.7260 Take profit: 0.7218
For the EUR / JPY pair, the key levels on the H1 scale are: 129.52, 128.80, 127.80, 126.77, 126.18, 125.08 and 124.15. Here, we follow the development of the downward structure of June 13. Short-term downward movement is expected in the corridor 126.77 - 126.18, the breakdown of the last value will lead to a move near the consolidation level 125.08. Potential value for the bottom is the level 124.15, where we expect an upward rollback.
Short-term upward movement is possible in the corridor 127.80 - 128.29. The breakdown of the last value will lead to an in-depth correction with the target at 128.80, this level is the key support for the downward structure from June 13. Breaking down this level will develop an upward structure with the potential target at 129.52.
The main trend is the downward structure of June 13.
Trading recommendations:
Buy: 127.80 Take profit: 128.25
Buy: 128.32 Take profit: 128.80
Sell: 126.75 Take profit: 126.20
Sell: 126.14 Take profit: 125.15
For the Pound/Yen pair, the key levels on the H1 scale are: 146.58, 146.20, 145.66, 145.31, 144.47, 143.96, 143.16 and 142.69. Here, we follow the development of the downward cycle of July 7. The downward movement is expected to continue after the breakthrough of level 144.47. In this case, the target is 143.96 zone near the consolidation level. The breakdown of 143.95 is expected with an evident move to the level of 143.16. The potential value for the bottom is the 142.69 level which we expect a rollback to the top.
Short-term upward movement is possible in the corridor 145.31 - 145.66, breakdown of the last value will lead to an in-depth correction with the target at 146.20. The range of 146.20 - 146.58 is the key support for the downward structure, prior that, we expect the initial conditions for the upward cycle to be formalized.
The main trend is the downward cycle from June 7.
Trading recommendations:
Buy: 145.31 Take profit: 145.65
Buy: 145.70 Take profit: 146.20
Sell: 144.45 Take profit: 144.00
Sell: 143.95 Take profit: 143.20
* The presented market analysis is informative and does not constitute a guide to the transaction.
