Dear colleagues.
For the EUR/USD pair, the price is in correction from the upward structure and forms the potential for the bottom of June 7. For GBP/USD pair, continuation of the upward movement is possible after the breakdown of 1.3457, level 1.3381 key support. For the USD/CHF pair, the price forms a strong potential for the upward movement of June 7. For the USD/JPY pair, the price is in a deep correction. For the EUR/JPY pair, the continuation of the upward trend from May 29, we expect after the breakdown of 129.85, the level of 128.68 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 147.50.
Forecast for June 11:
Analytical review of currency pairs in the scale of H1:
For the EUR/USD pair, 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. Continued development of the upward trend is expected after the passage at the price of the noise range 1.1824-1.1849, in this case the target is 1.1907, near this level the consolidation. The potential value for the top is the level of 1.1955, upon reaching which we expect a pullback downwards.
Short-term downward movement is possible in the area 1.1752-1.1721, 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 have to develop a downward structure, in this case, 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
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 move to the level of 1.3457, the breakdown of which, in turn, will lead to a movement to the level of 1.3495, near which we expect consolidation. The potential value for the peak is the level of 1.3548, from this level we expect an exit to correction.
Short-term downward movement is possible in the area 1.3381 - 1.3354, 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 have 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
For the USD/CHF pair, the key levels on the scale of H1 are: 0.9990, 0.9963, 0.9924, 0.9896, 0.9835, 0.9812, 0.9784 and 0.9754. Here the price has issued a pronounced structure from June 7 to develop an upward trend. Continued upward movement is expected after the breakdown of 0.9896, in this case the target is 0.9924, near this level is the consolidation. The breakdown of 0.9926 should be accompanied by a pronounced upward movement, the target here is 0.9963. Potential value for the top is the level of 0.9990, upon reaching this level, we expect the correction to go.
Short-term downward movement is possible in the area 0.9835-0.9812, hence the probability of a reversal is high, the breakdown of the level of 0.9812 will have a downward trend, in this case the target is 0.9784.
The main trend is a local downward structure from May 29, the formation of the potential for the top of June 7.
Trading recommendations:
Buy: 0.9896 Take profit: 0.9922
Buy: 0.9926 Take profit: 0.9960
Sell: 0.9833 Take profit: 0.9814
Sell: 0.9810 Take profit: 0.9786
For the USD/JPY pair, key levels on a range 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. Continued upward movement is expected after the breakdown of 110.30, in this case the target is 110.69, in the area 110.69 - 110.92 consolidation. Breakdown of the level 110.92 will allow to count on the movement to the level of 111.31. We consider the level 112.24 to be a potential value for the top, after which we expect consolidation in the area 112.24 - 111.90.
Short-term downward movement is possible in the area 109.79 - 109.46, 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: 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
For the CAD/USD pair, 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 which is expected after the pass at the price of the noise range 1.3053-1.3093, in this case the target is 1.3159, near this level the consolidation. Break 1.3160 will lead to the movement to the level of 1.3219, from which 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, breakdown of the last value will have to develop 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
For the AUD/USD pair, the key levels in the scale of H1 are: 0.7719, 0.7677, 0.7639, 0.7619, 0.7553, 0.7515 and 0.7474. Here the price forms the potential for a downward movement from June 6. Continued downward movement is expected after the breakdown of 0.7553, in this case the target is 0.7515, near this level is consolidation. The potential value for the bottom is the level of 0.7474.
Short-term upward movement is possible in the area 0.7619 - 0.7639, breakdown of the latter value will have to develop an ascending structure, here the first target is 0.7677, this level is the key resistance for the subsequent development of the upward trend.
The main trend is the formation of a downward structure from June 6.
Trading recommendations:
Buy: 0.7640 Take profit: 0.7674
Buy: 0.7679 Take profit: 0.7717
Sell: 0.7550 Take profit: 0.7516
Sell: 0.7513 Take profit: 0.7476
For the EUR/JPY pair, 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. Continued upward movement is expected after the breakdown of 129.85, in this case the target is 130.83, in the area 130.83 - 131.40 the consolidation of the price. The potential value for the top is the level of 132.58, upon reaching which we expect a pullback downwards.
Short-term downward movement is possible in the area 129.22 - 128.68, 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
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 147.50 - 147.96, 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 which we expect a pullback downwards.
Short-term downward movement is possible in the area 146.89 - 146.38, 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