FX.co ★ Fractal analysis of major currency pairs on June 11, 2021

Outlook on June 11:

Analytical overview of popular currency pairs on the H1 chart:

The key levels for the EUR/USD pair are 1.2274, 1.2249, 1.2206, 1.2186, 1.2147, 1.2133, 1.2108, 1.2094, 1.2065, 1.2036 and 1.2018. The price has been moving in a local downward trend since June 1, but it is currently in the correction and is forming an upward potential from June 4. We expect the decline to continue after the price breaks through the 1.2147 - 1.2133 range. The first target is set at 1.2108. After that, the price may consolidate in the range of 1.2108 - 1.2094. If the latter is broken, a strong decline will continue to the next target of 1.2065. The final potential downward target is 1.2018. After reaching it, the price may consolidate in the range of 1.2036 - 1.2018 and pull back upwards.

A short-term growth, in turn, is possible in the range of 1.2186 - 1.2206. If the last value breaks down, the upward trend from June 4 will develop. The first target is set at 1.2249. The next potential upward target is 1.2274.

The main trend is the downward trend from June 1, correction stage.

Trading recommendations:

Buy: 1.2186 Take profit: 1.2204

Buy: 1.2208 Take profit: 1.2249

Sell: 1.2133 Take profit: 1.2108

Sell: 1.2092 Take profit: 1.2065

The key levels for the GBP/USD pair are 1.4271, 1.4253, 1.4212, 1.4188, 1.4126, 1.4105, 1.4079, 1.4059, 1.4007, 1.3985 and 1.3922. The price has been moving in a bearish trend since June 1, but it is in a correction stage, forming an upward potential from June 10. The key upward support is the range of 1.4126 - 1.4105. The breakdown of which will dispose to the further development of the downward trend. The first target is set at 1.4079. The continuation of the development of the main trend is expected after the price breaks through the noise range of 1.4079 - 1.4059. The target here is 1.4007 and the price may consolidate in the range of 1.4007 - 1.3985. The ultimate potential downward target is 1.3922. After reaching it, an upward pullback can be expected.

Short-term growth is likely in the 1.4188 - 1.4212 range. If the level of 1.4212 breaks down, the strong upward movement will continue to the next target of 1.4253. An upward potential target is 1.4271. After reaching it, the price may consolidate.

The main trend is the downward trend from June 1, correction stage.

Trading recommendations:

Buy: 1.4188 Take profit: 1.4211

Buy: 1.4214 Take profit: 1.4253

Sell: 1.4105 Take profit: 1.4080

Sell: 1.4059 Take profit: 1.4008

The key levels for the USD/CHF pair are 0.9009, 0.8988, 0.8973, 0.8940, 0.8924, 0.8911, 0.8878 and 0.8862. The price has been moving in a downward trend since June 4. We expect this trend to resume after the level of 0.8940 is broken. The first target is set at 0.8924. This can be followed by a short-term decline in the range of 0.8924 - 0.8911. The breakdown of the latter should be accompanied by a strong decline to the next target of 0.8878. The ultimate potential downward target is 0.8862. After reaching it, an upward pullback will follow.

A short-term decline can be expected in the range of 0.8973 - 0.8988. If the last value breaks down, a deep correction will occur. The target is set at 0.9009, which is the key support level.

The main trend is the downward trend from June 4.

Trading recommendations:

Buy: 0.8973 Take profit: 0.8988

Buy: 0.8990 Take profit: 0.9009

Sell: 0.8940 Take profit: 0.8924

Sell: 0.8910 Take profit: 0.8878

The key levels for the USD/JPY pair are 110.34, 109.98, 109.81, 109.68, 109.38, 109.15, 108.78, and 108.64. We are following the development of the long-term upward trend from May 25 and the formation of the downward trend from June 3. We expect the decline to continue after the level of 109.38 is broken. The target is set at 109.15 and the price may consolidate near it. If the indicated target is broken, it will lead to the cancellation of the upward trend from May 25. In this case, we can expect the strong decline to develop to the level of 108.78. The final potential downward target is 108.64. After reaching it, an upward pullback can be expected.

Meanwhile, short-term growth is possible in the range of 109.68 - 109.81. If the latter breaks down, a deep correction will occur. The target is set at 109.98, which is the key support level for the downward potential from June 3.

The main trend is the long-term upward trend from May 25, the formation of the downward trend from June 3.

Trading recommendations:

Buy: 109.68 Take profit: 109.80

Buy: 109.82 Take profit: 109.96

Sell: 109.38 Take profit: 109.17

Sell: 109.13 Take profit: 108.80

The key levels for the USD/CAD pair are 1.2241, 1.2205, 1.2147, 1.2124, 1.2092, 1.2074, and 1.2048. The formation of the upward trend from June 1 is being monitored. At present we expect a short-term growth in the 1.2124 - 1.2147 range. If the level of 1.2147 is broken, a strong upward movement will continue to the target of 1.2205. The final potential upward target is 1.2241. After reaching it, a downward pullback can be expected.

The price is expected to consolidate in the range of 1.2092 - 1.2074. If the last value is broken, a deep correction will occur. The target is set at 1.2048, which is also the key support level.

The main trend is the formation of the upward trend from June 1.

Trading recommendations:

Buy: 1.2125 Take profit: 1.2146

Buy: 1.2148 Take profit: 1.2205

Sell: 1.2073 Take profit: 1.2050

Sell: 1.2046 Take profit: 1.2005

The key levels for the AUD/USD pair are 0.7841, 0.7824, 0.7709, and 0.7686. The price has been moving in an upward trend since June 3. A consolidated movement is expected in the range of 0.7749 - 0.7772. If the price breaks through the range of 0.7772 - 0.7786, strong growth will continue to the next target of 0.7824. The ultimate potential upward target is 0.7841. After reaching it, a downward pullback may occur.

On the other hand, the short-term decline is expected in the range of 0.7724 - 0.7709. If the last value is broken, a deep correction will follow. The target is set at 0.7686, which is also the key support level for the downward trend.

The main trend is the upward trend from June 3.

Trading recommendations:

Buy: 0.7787 Take profit: 0.7824

Buy: 0.7826 Take profit: 0.7840

Sell: 0.7724 Take profit: 0.7710

Sell: 0.7707 Take profit: 0.7690

The key levels for the EUR/JPY pair are 133.72, 133.48, 133.33, 132.87, 132.73, 132.34, and 132.19. The price has been moving in a downward trend since June 1. We expect this trend to resume after the price breaks through the range of 132.87 - 132.73. The target is set at 132.34. The final potential downward target is 132.19. After reaching it, the price may consolidate and pull back upwards.

In turn, short-term growth can be expected in the range of 133.33 - 133.48. If the latter is broken, a deep correction will occur. The target is set at 133.72, which is also the key support level.

The main trend is the downward trend from June 1.

Trading recommendations:

Buy: 133.33 Take profit: 133.46

Buy: 133.50 Take profit: 133.72

Sell: 132.73 Take profit: 132.36

Sell: 132.33 Take profit: 132.20

The key levels for the GBP/JPY pair are 156.04, 155.30, 154.49, 154.04, 153.68, 153.14, and 152.85. The price has been moving in a bearish trend since May 28, but it is at a correction right now. The key support level for the decline is 155.30. The downward is expected to continue after the level of 154.49 is broken. The first target is set at 154.04. After that, a short-term decline may occur in the 154.04 - 153.68 range. If the latter is broken, a strong decline will continue to the next target of 153.14. The final potential downward target is 152.85. After reaching it, the price may consolidate and pull back upwards.

The main trend is the downward trend from May 28, correction stage.

Trading recommendations:

Buy: 155.30 Take profit: 156.00

Buy: Take profit:

Sell: 154.49 Take profit: 154.06

Sell: 154.02 Take profit: 153.68