FX.co ★ Fractal analysis of the main currency pairs on June 5

Dear colleagues.

For the EUR / USD pair, we expect movement towards the level of 1.1743. For the GBP / USD pair, the level of 1.3273 is the key support for the upward structure from May 29. For the USD / CHF pair, the continuation of the movement downwards is possible after passing the price of the noise range of 0.9842 - 0.9826. For the USD / JPY pair, the price is in deep correction from the downward structure. The level of 110.08 is the key resistance for the top. For the EUR / JPY pair, we expect the movement towards the level of 129.22. The level of 127.52 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 146.90.

Forecast for June 5:

Analytical review of currency pairs in the scale of H1:

For the EUR / USD pair, the key levels on the scale of H1 are: 1.1824, 1.1774, 1.1743, 1.1693, 1.1622, 1.1593, 1.1562, 1.1515, 1.1453 and 1.1397. Here, we continue to follow the upward structure of May 30. The continuation of the development of the upward trend is expected after the breakdown of 1.1693. In this case, the target is 1.1743. In the area of 1.1743 - 1.1774 is the consolidation of the price. The potential value for the top is the level of 1.1824. Upon reaching this level, we expect a pullback downwards.

Short-term downward movement is possible in the area of 1.1622-1.1593. The breakdown of the last value will lead to in-depth correction. Here, the target is 1.1562. This level is the key support for the upward structure from May 30. Its breakdown will lead to the development of the downward structure. In this case, the target is the level of 1.1515.

The main trend is the formation of the potential for the top of May 30.

Trading recommendations:

Buy: 1.1695 Take profit: 1.1742

Buy 1.1775 Take profit: 1.1822

Sell: 1.1622 Take profit: 1.1593

Sell: 1.1560 Take profit: 1.1515

For the GBP / USD pair, the key H1 scale levels are 1.3495, 1.3457, 1.3403, 1.3381, 1.3338, 1.3311, 1.3273 and 1.3202. Here, we follow the upward structure of May 29. At the moment, the price is in the zone of initial conditions. The continuation of the development of the upward trend is expected after passing the price of the noise range of 1.3381 - 1.3403. In this case, the target is 1.3457. The potential value for the top is the level of 1.3495. Upon reaching this level, we expect a pullback downwards.

Consolidated traffic is possible in the area of 1.3338 - 1.3311. The breakdown of the last value will lead to in-depth correction. Here, the target is 1.3273. This level is the key support for the top.

The main trend is the formation of an upward structure from May 29.

Trading recommendations:

Buy: 1.3405 Take profit: 1.3455

Buy: 1.3460 Take profit: 1.3490

Sell: 1.3336 Take profit: 1.3314

Sell: 1.3308 Take profit: 1.3280

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 the level of 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

For the USD / JPY pair, the key levels on a scale are: 110.92, 110.69, 110.08, 109.13, 108.77, 108.14, 107.64, 106.99 and 106.58. Here, the price is in deep correction from the downward structure of May 21. The development of the upward movement is expected after the breakdown of 110.08. In this case, the first target is 110.69. In the area of 110.69 - 110.92 is the consolidation of the price.

Short-term upward movement is possible in the area of 109.13 - 108.77, hence the probability of a turn to the top is high. The breakdown at the level of 108.75 continued the development of a downward trend. In this case, the first potential target is 108.14.

The main trend is a downward structure from May 21, a stage of deep correction.

Trading recommendations:

Buy: 110.10 Take profit: 110.66

Buy: Take profit:

Sell: 109.12 Take profit: 108.80

Sell: 108.70 Take profit: 108.20

For the CAD / USD pair, the key levels on the H1 scale are: 1.3204, 1.3159, 1.3093, 1.3012, 1.2960, 1.2922, 1.2825, 1.2758, 1.2674 and 1.2621. Here, we follow the upward structure of May 22. At the moment, the price is in deep correction from this structure and forms the potential for the bottom of May 29. Consolidated traffic is expected in the area of 1.2922 - 1.2960. The breakdown of the last value will lead to a movement towards the level of 1.3012. This level is the key resistance for the subsequent development of the upward trend.

The development of the downward trend from May 29, is expected after the breakdown of 1.2825. Here, the first target is 1.2758. Near this level is the consolidation of the price. The breakdown of 1.2755 should be accompanied by a pronounced movement towards the potential target of 1.2674.

The main trend is the rising trend from May 22, a deep correction.

Trading recommendations:

Buy: 1.2960 Take profit: 1.3012

Buy: 1.3014 Take profit: 1.3090

Sell: 1.2825 Take profit: 1.2760

Sell: 1.2755 Take profit: 1.2680

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 area is the consolidation of the price. The breakdown at the level of 0.7692 should be accompanied by a pronounced upward movement. The target here 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

For the EUR / JPY pair, the key levels on the scale of H1 are: 131.40, 130.83, 129.85, 129.22, 128.16, 127.52 and 126.55. Here, we follow the upward structure of May 29. Short-term upward movement is expected in the area of 129.22 - 129.85. The breakdown of the last value should be accompanied by a pronounced upward movement. Here, the target is 130.83. In the area of 130.83 - 131.40 is the consolidation of the price.

Short-term downward movement is possible in the area of 128.16 - 127.52. The breakdown of the last value will lead to in-depth correction. Here, the target is 126.55. This level is the key support for the top.

The main trend is the upward structure of May 29.

Trading recommendations:

Buy: 129.22 Take profit: 129.83

Buy: 129.87 Take profit: 131.40

Sell: 128.14 Take profit: 127.55

Sell: 127.50 Take profit: 126.60

For the GBP / JPY pair, the key levels on the scale of H1 are: 148.79, 147.96, 147.50, 146.89, 146.09, 145.64 and 145.01. Here, we follow the development of the upward cycle of May 29. The continuation of the upward movement is expected after the breakdown of 146.90. In this case, the target is 147.50. In the area of 147.50 - 147.96 is the consolidation of the price. The potential value for the top is level 148.79. Upon reaching this level, we expect a pullback downwards.

Short-term downward movement is possible in the area of 146.09 - 145.64. The breakdown of the last value will lead to in-depth correction. Here, the target is 145.01. This level is the key support for the top.

The main trend is the upward cycle from May 29.

Trading recommendations:

Buy: 146.90 Take profit: 147.50

Buy: 148.00 Take profit: 148.75

Sell: 146.04 Take profit: 145.66

Sell: 145.60 Take profit: 145.12