Fractal analysis of major currency pairs on June 6

Dear colleagues,

For the Euro/Dollar pair, the price forms the potential for the downward movement of June 5 to the key support level of 1.1274. On the Pound/Dollar pair, we are following the development of the ascending structure from May 31. Hence, we expect a continuation of the upward movement after the breakdown 1.2727. For theDollar/Franc pair, the price forms the potential for the upward movement of June 5 to the key support level of 0.9876. For the Dollar/Yen pair, the price is in the correction zone at the moment. We can expect a continuation of the movement to the bottom after the breakdown 107.76. For the Euro/Yen pair, the price forms the potential for the top of June 3. The upward cycle development is expected after the breakdown of 121.98. The Pound/Yen pair forms a small potential for the top of June 4. We expect a development of this structure after the breakdown of 137.85.

Forecast for June 6:

Analytical review of H1-scale currency pairs:

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For the Euro/Dollar pair, the key levels on the H1 scale: 1.1310, 1.1274, 1.1254, 1.1238, 1.1214, 1.1198, 1.1187 and 1.1152. Here, the price forms the potential for the downward movement of June 5th. We expect the continuation of the development of the downward structure after the breakdown of 1.1214, which in this case, the goal is consolidation near the level of 1.1198. Passing through the noise range of 1.1198 - 1.1187 will lead to the development of a pronounced motion. Here, the potential target is 1.1152.

The short-term downward movement will possibly be in the area of 1.1238 - 1.1254. The breakdown of the latter value will lead to a prolonged correction with the target key support for the downward structure at 1.1274. Its price will have the formation of the initial conditions for the upward cycle, which in this case, the potential target is 1.1310.

The main trend is the formation of the potential for the downward movement of 5 June.

Trading recommendations:

Buy 1.1238 Take profit: 1.1252

Buy 1.1255 Take profit: 1.1274

Sell: 1.1214 Take profit: 1.1200

Sell: 1.1185 Take profit: 1.1152

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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, while the price is in the correction area at the moment. We expect a continuation of the movement after the breakdown of 1.2727, which in this case, the goal is consolidation near the level of 1.2754. A break at 1.2755 should be accompanied by a pronounced upward movement with the target of 1.2808 in the area of price consolidation at 1.2789 - 1.2808. From here, we expect a rollback to the bottom.

A short-term downward movement will possibly be in the area of 1.2687 - 1.2667. The breakdown of the latter value will lead to a prolonged correction with the target key support for the rising structure at 1.2633.

The main trend is the upward cycle of May 31 at 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

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For the Dollar/Frank pair, the key levels on the H1 scale: 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. We expect a continuation of the movement after the breakdown of 0.9954, which in this case, the target is consolidation near the level of 0.9970. The passage of the price range of 0.9970 - 0.9987 will lead to the development of a pronounced upward movement with the target of 1.0024. We consider the level of 1.0048 as a potential value for the top. Upon reaching this level, we expect consolidation and a rollback to the bottom.

A short-term downward movement will possibly be in the area of 0.9925 - 0.9903 and breaking the last value will lead to a prolonged correction with the target of 0.9876. This level is key support for the top and its price will lead to the subsequent development of the main trend, with the potential target of 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: 0.9925 Take profit: 0.9904

Sell: 0.9901 Take profit: 0.9878

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For the Dollar/Yen pair, the key levels on the scale are 108.84, 108.43, 108.18, 107.76, 107.44 and 106.99. Here, we continue to monitor the downward structure of May 30. We expect a short-term downward movement in the area of 107.76 - 107.44. The breakdown of the last value will lead to the movement to the potential target of 106.99 and upon reaching this level, we expect a rollback to the top.

A short-term upward movement and consolidation are possible in the area of 108.18-108.43. The breakdown of the latter value will lead to in-depth correction. Here, the target key support for the downward cycle is 108.84.

The main trend is the local structure for the bottom of May 30 at the stage of correction.

Trading recommendations:

Buy: 108.18 Take profit: 108.41

Buy: 108.45 Take profit: 108.82

Sell: 107.75 Take profit: 107.45

Sell: 107.42 Take profit: 107.00

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For the Canadian dollar/Dollar pair, the key levels on the H1 scale: 1.3458, 1.3432, 1.3414, 1.3386, 1.3369, 1.3339 and 1.3313. Here, we are following the development of the downward structure of May 31, while the price is in the correction at the moment. The continuation of the development of the main trend is expected after the price passes the noise range of 1.3386 - 1.3369, which in this case, the target of 1.3339. We consider the level of 1.3313 with the potential value for the bottom. After reaching of which, we expect to go to the correction zone.

Short-term upward movement will possibly be in the area of 1.3414 - 1.3432 and the breakdown of the latter value will lead to a prolonged correction to the target key support for the bottom at 1.3458.

The main trend is the downward structure of May 31.

Trading recommendations:

Buy: 1.3415 Take profit: 1.3431

Buy : 1.3433 Take profit: 1.3456

Sell: 1.3368 Take profit: 1.3340

Sell: 1.3337 Take profit: 1.3315

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For the Australian dollar/Dollar pair 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 rising structure of May 23,while the price is in deep correction at the moment. We expect a continuation of the movement after the breakdown at the level of 0.698. Here, the first target is 0.7003. Passing through the noise range of 0.7003 - 0.7013 will lead to the development of a pronounced movement, which in this case the goal is 0.7042. We consider the level of 0.7058 with the potential value for the top, after reaching of which, we expect consolidation and a 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 at 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

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For the Euro/Yen pair, the key levels on the H1 scale: 122.82, 122.31, 121.98, 121.71, 121.20, 121.01, 120.56 and 119.98. Here, the price forms the potential for upward movement of June 3 in the correction of the downward structure. We expect a continuation of the movement after the breakdown of 121.71. Here, the first target is 121.98 and the breakdown of this level will lead to the development of an upward trend, which in this case the target is consolidation near 122.31. We consider the level of 122.82 with the potential value for the top after the breakdown of 122.35.

A short-term downward movement is expected in the area of 121.20 - 121.01. The breakdown of the last value will cancel the ascending structure from June 3, and in this case, we expect movement to the level of 120.56. We consider the level 119.98 to be a potential value for the bottom and a rollback to the top from this level is expected.

The main trend is the design of the initial conditions for the ascending cycle of June 3.

Trading recommendations:

Buy: 121.71 Take profit: 121.96

Buy: 122.00 Take profit: 122.30

Sell: 121.20 Take profit: 121.03

Sell: 120.98 Take profit: 120.58

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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. We expect the continuation of the development of the downward trend of May 21 after the breakdown of 136.50, which in this case, the target is 135.98. In turn, the breakdown of which will allow us to expect to move to consolidation near 135.48. Also from here, there is a high probability of a reversal in the correction. We consider the level of 134.82 with the potential value for the bottom

A short-term upward movement is expected in the area of 137.49 - 137.83. The breakdown of the last value will lead to a prolonged correction with the target of 138.39. The noise range is at 138.39 - 138.76.

The main trend is the local downward structure of May 21 at 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

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