Fractal analysis for major currency pairs as of June 7

Dear colleagues.

For the EUR / USD pair, the continuation of the upward trend is expected after passing through the noise range of 1.1824 - 1.1849. For the GBP / USD pair, the continuation of the upward movement is possible after the breakdown of 1.3457. The level of 1.3381 is the key support. For the USD / CHF pair, the continuation of the move downwards is expected after passing through the price of the noise range at 0.9842 - 0.9826. The level of 0.9897 is the key support. For the USD / JPY pair, the continuation of the upward movement is expected after the breakdown at 110.30. The level of 109.46 is the key support. For the EUR / JPY pair, the continuation of the upward trend from May 29 is expected after the breakdown of 129.85. The level of 128.68 is the key support. For the GBP / JPY pair, we follow the development of the upward cycle from May 29. The continuation of the upward movement is expected after the breakdown of 148.00. The level of 146.90 is the key support.

Forecast for June 7:

Analytical review of currency pairs in the scale of H1:

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For the EUR / USD pair, the key levels on the scale of H1 are: 1.1955, 1.1907, 1.1849, 1.1824, 1.1752, 1.1721, 1.1672 and 1.1631. Here, we continue to follow the upward structure of May 30. The continuation of the development of the upward trend is expected after passing the price of the noise range of 1.1824 - 1.1849. In this case, the target is 1.1907. Near this level is the consolidation of the price. The potential value for the top is the level of 1.1955. Upon reaching this level, we expect a pullback downwards.

Short-term downward movement is possible in the area of 1.1752-1.1721. The breakdown of the last value will lead to in-depth correction. Here, the target is 1.1672. This level is the key support for the upward structure of May 30. Its breakdown will lead to the development of a downward structure. In this case, the potential target is 1.1631.

The main trend is the upward structure of May 30.

Trading recommendations:

Buy: 1.1850 Take profit: 1.1905

Buy 1.1908 Take profit: 1.1955

Sell: 1.1750 Take profit: 1.1722

Sell: 1.1718 Take profit: 1.1674

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For the GBP / USD pair, the key levels on the scale of H1 are 1.3548, 1.3495, 1.3457, 1.3381, 1.3354, 1.3311 and 1.3273. Here, we follow the upward structure from May 29. Currently, we are waiting for the movement towards the level of 1.3457. The breakdown of this level, in turn, will lead to a movement towards the level of 1.3495. Near this level, we expect the consolidation of the price. The potential value for the top is the level of 1.3548. From this level, we expect a departure towards correction.

Short-term downward movement is possible in the area of 1.3381 - 1.3354. The breakdown of the last value will lead to in-depth correction. Here, the target is 1.3311. This level is the key support for the top. Its breakdown will lead a downward structure. In this case, the potential target is 1.3273.

The main trend is the upward structure of May 29.

Trading recommendations:

Buy: 1.3460 Take profit: 1.3490

Buy: 1.3497 Take profit: 1.3545

Sell: 1.3380 Take profit: 1.3355

Sell: 1.3352 Take profit: 1.3313

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For the USD / CHF pair, the key levels on the scale of H1 are: 0.9954, 0.9927, 0.9897, 0.9876, 0.9842, 0.9826, 0.9784 and 0.9754. Here, the subsequent development of the downward structure from May 29 is expected after passing the price of the noise range at 0.9842 - 0.9826. In this case, the target is 0.9784. The potential value for the bottom is the level of 0.9754. Upon reaching this level, we expect a rollback upward.

Short-term upward movement is possible in the area of 0.9876 - 0.9897. The breakdown of the last value will lead to in-depth correction. Here, the target is 0.9927. This level is the key support for the downward structure. Its breakdown will allow us to count on the movement towards 0.9954.

The main trend is a local downward structure from May 29.

Trading recommendations:

Buy: 0.9876 Take profit: 0.9895

Buy: 0.9898 Take profit: 0.9925

Sell: 0.9826 Take profit: 0.9786

Sell: 0.9782 Take profit: 0.9755

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For the USD / JPY pair, the key levels on a scale are: 112.24, 111.90, 111.31, 110.92, 110.69, 110.30, 109.79, 109.46 and 108.91. Here, we follow the development of the upward structure of May 29. The continuation of the upward movement is expected after the breakdown of 110.30. In this case, the target is 110.69. In the area of 110.69 - 110.92 is the consolidation of the price. The breakdown of the level of 110.92 will allow us to count on the movement towards the level of 111.31. We consider the level 112.24 to be a potential value for the top. After reaching this level, we expect consolidation in the area of 112.24 - 111.90.

Short-term downward movement is possible in the area of 109.79 - 109.46. The breakdown of the last value will lead to in-depth correction. Here, the target is 108.91. This level is the key support for the top.

The main trend is an upward cycle from May 29.

Trading recommendations:

Buy: 110.30 Take profit: 110.66

Buy: 110.92 Take profit: 111.30

Sell: 109.77 Take profit: 109.47

Sell: 109.44 Take profit: 108.93

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For the CAD / USD pair, the key levels on the scale of H1 are: 1.3278, 1.3219, 1.3159, 1.3093, 1.3053, 1.2905, 1.2856, 1.2819 and 1.2758. Here, we follow the upward structure of May 31. The development of this level is expected after passing the price of the noise range at 1.3053 - 1.3093. In this case, the target is 1.3159. Near this level is the consolidation of the price. The breakdown of 1.3160 will lead to the movement towards the level of 1.3219. From this level, there is a high probability of leaving the correction. The potential value for the top is the level of 1.3278.

Short-term downward movement is possible in the range 1.2905 - 1.2856. The breakdown of the last value will lead to the development of the the downward structure. In this case, the potential target is 1.2758.

The main trend is the upward structure of May 31.

Trading recommendations:

Buy: 1.3093 Take profit: 1.3156

Buy: 1.3162 Take profit: 1.3216

Sell: 1.2905 Take profit: 1.2858

Sell: 1.2819 Take profit: 1.2760

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For the AUD / USD pair, the key H1 scale levels are: 0.7756, 0.7731, 0.7692, 0.7666, 0.7628, 0.7607 and 0.7573. Here, we follow the development of the upward cycle of May 30. The continuation of the upward movement is expected after the breakdown of 0.7666. In this case, the target is 0.7692. In this range is the consolidation of the price. The breakdown at the level of 0.7692 should be accompanied by a pronounced upward movement. Here, the target is 0.7731. The potential value for the top is the level of 0.7756. Upon reaching this level, we expect a pullback downwards.

Short-term downward movement is possible in the area of 0.7628 - 0.7607. The breakdown of the last value will lead to in-depth correction. Here, the target is 0.7573. This level is the key support for the upward structure.

The main trend is the upward cycle of May 30.

Trading recommendations:

Buy: 0.7666 Take profit: 0.7690

Buy: 0.7694 Take profit: 0.7730

Sell: 0.7626 Take profit: 0.7608

Sell: 0.7602 Take profit: 0.7575

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For the EUR / JPY, the key levels on the scale of H1 are: 132.58, 131.40, 130.83, 129.85, 129.22, 128.68 and 127.77. Here, we follow the upward structure of May 29. The continuation of the upward movement is expected after the breakdown of 129.85. In this case, the target is 130.83. In the area of 130.83 - 131.40 is the consolidation of the price. The potential value for the top is the level of 132.58. Upon reaching this level, we expect a pullback downwards.

Short-term downward movement is possible in the area of 129.22 - 128.68. The breakdown of the last value will lead to in-depth correction. Here, the target is 127.77. This level is the key support for the top.

The main trend is the upward structure of May 29.

Trading recommendations:

Buy: 129.87 Take profit: 130.80

Buy: 131.42 Take profit: 132.55

Sell: 129.20 Take profit: 128.70

Sell: 128.65 Take profit: 127.80

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For the GBP / JPY pair, the key levels on the scale of H1 are: 149.48, 148.79, 147.96, 147.50, 146.89, 146.38 and 145.64. Here, we follow the development of the upward cycle of May 29. Short-term upward movement is possible in the area of 147.50 - 147.96. The breakdown of the last value should be accompanied by a pronounced upward movement. Here, the target is 148.79. The potential value for the top is the level of 149.48. Upon reaching this level, we expect a pullback downwards.

Short-term downward movement is possible in the area of 146.89 - 146.38. The breakdown of the last value will lead to in-depth correction. Here, the target is 145.64. This level is the key support for the top.

The main trend is the upward cycle from May 29.

Trading recommendations:

Buy: 147.50 Take profit: 147.94

Buy: 148.00 Take profit: 148.75

Sell: 146.85 Take profit: 146.40

Sell: 146.35 Take profit: 145.70

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