FX.co ★ Fractal analysis of major currency pairs on June 15, 2021

Outlook on June 15:

Analytical overview of popular currency pairs on the H1 chart:

The key levels for the EUR/USD pair are 1.2218, 1.2170, 1.2140, 1.2121, 1.2091, 1.2060, 1.2042, 1.1995, and 1.1972. The price is forming a strong local potential downward trend from June 9. We expect the decline to resume after the level of 1.2091 is broken. The target is set at 1.2060. After that, a short-term decline and consolidation in the 1.2060 - 1.2042 range are possible. If the latter is broken, a strong decline will develop to the next target of 1.1995. The final potential downward target is 1.1972. After reaching it, the price may consolidate and pull back upwards.

The price may consolidate in the 1.2121 - 1.2140 range. If the last value is broken, a deep correction will occur. The target is set at 1.2170, which is also the key support level.

The main trend is the formation of a local downward trend from June 9.

Trading recommendations:

Buy: 1.2142 Take profit: 1.2170

Buy: 1.2172 Take profit: 1.2216

Sell: 1.2090 Take profit: 1.2060

Sell: 1.2059 Take profit: 1.2043

The key levels for the GBP/USD pair are 1.4271, 1.4253, 1.4212, 1.4188, 1.4157, 1.4079, 1.4059, 1.4007, 1.3985 and 1.3922. The price has been moving in a downward trend since June 1, but it is in a correction stage. At the moment, we expect the development of the main trend to continue after the price breaks through the range of 1.4079 - 1.4059. The target is set at 1.4007 followed by a price consolidation in the 1.4007 - 1.3985 range. The ultimate potential downward target is 1.3922. After reaching it, an upward pullback can be expected.

We expect the correction to develop after the level of 1.4157 is broken. Here, the target is 1.4188. Short-term growth is possible in the range of 1.4188 - 1.4212. If the level of 1.4212 is broken, the strong upward movement will lead the price to the target of 1.4253. A potential upward target is 1.4271. After reaching it, price consolidation can be expected.

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

Trading recommendations:

Buy: 1.4158 Take profit: 1.4187

Buy: 1.4188 Take profit: 1.4211

Sell: 1.4105 Take profit: 1.4080

Sell: 1.4059 Take profit: 1.4008

The key levels for the USD/CHF pair are 0.9056, 0.9044, 0.9016, 0.8999, 0.8970, 0.8953, 0.8924, 0.8911, 0.8878 and 0.8862. The price is forming an upward trend from June 9. Now, we expect a short-term growth in the range of 0.8999 - 0.9016. If the last value is broken, strong growth will continue to the target of 0.9044. The ultimate potential upward target is 0.9056. After reaching it, the price may consolidate in the range of 0.9044 - 0.9056 and pull back downwards.

A short-term decline, in turn, can be expected in the range of 0.8970 - 0.8953, wherein we expect a key upward reversal. The breakdown of the last value will favor the development of a downward trend. The first potential target is 0.8924.

The main trend is the downward trend from June 4, forming an upward potential from June 9.

Trading recommendations:

Buy: 0.9000 Take profit: 0.9014

Buy: 0.9017 Take profit: 0.9044

Sell: 0.8970 Take profit: 0.8955

Sell: 0.8951 Take profit: 0.8925

The key levels for the USD/JPY pair are 110.76, 110.56, 110.36, 110.25, 109.95, 109.85, and 109.70. We are following the development of the long-term upward trend from May 25, and the formation of the local upward potential from June 7. We expect growth to resume after the price breaks through the 110.25 - 110.36 range. The target is set at 110.56 and the price may consolidate around it. The ultimate potential upward target is 110.76. After reaching it, the price may pull back upwards.

Meanwhile, the short-term decline is likely in the range of 109.95 - 109.85. If the last value is broken, a deep correction will occur. The target is set at 109.70, which is also the key support level.

The main trend is the long-term upward trend from May 25, local upward potential from June 7.

Trading recommendations:

Buy: 110.36 Take profit: 110.54

Buy: 110.58 Take profit: 110.76

Sell: 109.95 Take profit: 109.86

Sell: 109.83 Take profit: 109.70

The key levels for the USD/CAD pair are 1.2278, 1.2241, 1.2205, 1.2188, 1.2147, 1.2124, and 1.2093. The price has been moving in an upward trend since June 1. In this case, we expect a short-term growth in the range of 1.2188 - 1.2205. If the latter breaks down, it will lead to a strong growth towards the target of 1.2241. The price may consolidate near it. The ultimate potential upward target is 1.2278. After reaching it, a downward pullback can be expected.

On the other hand, the short-term decline is possible in the 1.2147 - 1.2124 range. If the level of 1.2124 is broken, a deep correction will follow. The target is set at 1.2093, which is the key support level.

The main trend is the upward trend from June 1.

Trading recommendations:

Buy: 1.2205 Take profit: 1.2240

Buy: 1.2243 Take profit: 1.2278

Sell: Take profit:

Sell: 1.2123 Take profit: 1.2095

The key levels for the AUD/USD pair are 0.7841, 0.7824, 0.7786, 0.7772, 0.7749, 0.7709, 0.7686 and 0.7648. The price has been moving in an upward trend since June 3 but it is in a deep correction right now. We expect the upward movement to resume after the level of 0.7749 is broken. The first target is set at 0.7772. The price breaking through the range of 0.7772 - 0.7786 should be accompanied by a strong growth towards the target of 0.7824. The final potential upward target is 0.7841. After reaching it, the price may consolidate and pull back downwards.

Alternatively, the short-term decline is possible in the range of 0.7709 - 0.7686. If the latter is broken, the upward trend from June 3 will be canceled. The first potential target is set at 0.7648.

The main trend is the upward trend from June 3, deep correction stage.

Trading recommendations:

Buy: 0.7750 Take profit: 0.7772

Buy: 0.7786 Take profit: 0.7824

Sell: 0.7707 Take profit: 0.7690

Sell: 0.7685 Take profit: 0.7650

The key levels for the EUR/JPY pair are 134.16, 134.02, 133.70, 133.48, 133.27, 133.14, 132.95, and 132.60. The price is forming a potential upward trend from June 14. Now, we expect a short-term growth in the 133.48 - 133.70 range. If the last value is broken, strong growth will continue to the target of 134.02. The final potential upward target is 134.16. After reaching it, the price may consolidate and pull back downwards.

In turn, the short-term decline can be expected in the 133.27 - 133.14 range. If the last value is broken, a deep correction will follow. The target is set at 132.95, which is also the key support level. Its breakdown will allow us to develop a downward trend. The first target is set at 132.60.

The main trend is the downward trend from June 1, the formation of an upward potential from June 14.

Trading recommendations:

Buy: 133.50 Take profit: 133.70

Buy: 133.72 Take profit: 134.02

Sell: 133.27 Take profit: 133.14

Sell: 133.12 Take profit: 132.95

The key levels for the GBP/JPY pair are 156.33, 156.00, 155.59, 155.16, 154.91, 154.64, and 154.08. The price has been moving in a bearish trend since May 28, but it is currently in a correction. We expect the upward potential from June 10 to develop after the level of 155.60 is broken. The target is set at 156.00. The ultimate potential upward target is 156.33. After reaching it, the price may consolidate and pull back downwards.

A short-term decline is likely in the range of 155.16 - 154.91. If the latter is broken, a deep correction will occur. The target is set at 154.64, which is also the key support level. The price breaking through it will develop a downward trend. In this case, the first target is 154.08.

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

Trading recommendations:

Buy: 155.60 Take profit: 156.00

Buy: 156.03 Take profit: 156.33

Sell: 155.16 Take profit: 154.92

Sell: 154.89 Take profit: 154.64