FX.co ★ Fractal analysis of major currency pairs on June 21, 2021

Outlook on June 21:

Analytical overview of popular currency pairs on the H1 chart:

The key levels for the EUR/USD pair are 1.1976, 1.1924, 1.1892, 1.1834, 1.1807, 1.1766, 1.1741, and 1.1688. The price has been moving in a downward trend since June 9. Now, we expect a short-term decline in the 1.1834 - 1.1807 range. If the latter is broken, strong a movement will continue to the target of 1.1766. After that, the price may consolidate in the range of 1.1766 - 1.1741. The final potential downward target is 1.1688. After reaching it, an upward pullback can be expected.

A short-term growth, in turn, is possible in the range of 1.1892 - 1.1924. If the last value breaks down, a deep correction will occur. The target is set at 1.1976, which is also the key support level.

The main trend is a local downward trend from June 9.

Trading recommendations:

Buy: 1.1894 Take profit: 1.1922

Buy: 1.1926 Take profit: 1.1974

Sell: 1.1833 Take profit: 1.1808

Sell: 1.1806 Take profit: 1.1767

The key levels for the GBP/USD pair are 1.3946, 1.3893, 1.3865, 1.3799, 1.3760, and 1.3732. The price has been moving in a bearish trend since June 1. We expect this trend to continue after the level of 1.3799 is broken. The target is set at 1.3760. The ultimate potential downward target is 1.3732. After reaching it, the price may pull back upwards.

Short-term growth can be expected in the range of 1.3865 - 1.3893. If the level of 1.3893 is broken, a deep correction will follow. The potential target is set at 1.3946, which is also the key support level.

The main trend is the downward trend from June 1.

Trading recommendations:

Buy: 1.3865 Take profit: 1.3891

Buy: 1.3895 Take profit: 1.3946

Sell: 1.3799 Take profit: 1.3762

Sell: 1.3758 Take profit: 1.3732

The key levels for the USD/CHF pair are 0.9238, 0.9192, 0.9167, and 0.9129. We are following the development of the upward trend from June 9. The price is currently near the limit values (0.9238), so a correction is expected. In such a case, we expect a short-term decline in the range of 0.9192 - 0.9167. If the latter is broken, a deep correction will occur. The target is set at 0.9129, which is also the key support level.

The main trend is the upward trend from June 9.

Trading recommendations:

Buy: Take profit:

Buy: Take profit:

Sell: 0.9192 Take profit: 0.9168

Sell: 0.9165 Take profit: 0.9132

The key levels for the USD/JPY pair are 110.86, 110.54, 110.31, 110.17, 109.75, 109.62, 109.30, and 109.14. The price has been moving in a local upward trend since June 7, but it is in a deep correction right now, forming a downward potential from June 17. We expect a short-term growth in the range of 110.17 - 110.31. If the last value is broken, a deep correction will follow. The target is set at 110.54, which is a key resistance for the subsequent development of an upward trend. The final potential upward target is 110.86.

The downward trend from June 17 is likely to develop after the price breaks through the 109.75 - 109.62 range. Here, the target is 109.30. The potential downward target is seen at 109.14. After reaching it, the price may consolidate and pull back upwards.

The main trend is the local upward trend from June 7, deep correction stage.

Trading recommendations:

Buy: 110.31 Take profit: 110.52

Buy: 110.56 Take profit: 110.86

Sell: 109.62 Take profit: 109.35

Sell: 109.30 Take profit: 109.15

The key levels for the USD/CAD pair are 1.2484, 1.2439, 1.2413, 1.2376, and 1.2353. The price has been moving in a bullish trend since June 1. Currently, it is near the limit values (1.2484), and so, we expect a correction. Against this background, we expect a short-term decline in the range of 1.2439 - 1.2413. If the latter is broken, a deep correction can be expected. The target is set at 1.2376. The ultimate potential downward target is 1.2353. After reaching it, the potential for a downward trend may form.

The main trend is the upward trend from June 1, correction is expected.

Trading recommendations:

Buy: Take profit:

Buy: Take profit:

Sell: 1.2336 Take profit: 1.2414

Sell: 1.2410 Take profit: 1.2380

The key levels for the AUD/USD pair are 0.7595, 0.7549, 0.7528, 0.7479, 0.7462, 0.7441 and 0.7405. The price has been moving in a downward trend since June 11. Now, we expect a short-term decline in the range of 0.7479 - 0.7462. If the latter breaks down, it will allow us to move to the level of 0.7441 and the price may consolidate closer to it. The final potential downward target is 0.7405. After reaching it, the price may pull back upwards.

On the other hand, short-term growth is possible in the 0.7528 - 0.7549 range. If the level of 0.7549 breaks down, a deep correction will occur. The target is set at 0.7595, which is the key support level.

The main trend is the downward trend from June 11.

Trading recommendations:

Buy: 0.7528 Take profit: 0.7547

Buy: 0.7552 Take profit: 0.7595

Sell: 0.7479 Take profit: 0.7462

Sell: 0.7460 Take profit: 0.7441

The key levels for the EUR/JPY pair are 131.47, 131.13, 130.92, 130.23, 129.89, 129.65, and 129.22. The price has been moving in a bearish trend since June 15. We expect this trend to resume after the level of 130.23 is broken. The target is set at 129.89. After that, the price may consolidate in the range of 129.89 - 129.65. The ultimate potential downward target is 129.22. After reaching it, an upward pullback is possible.

In turn, a short-term growth can be expected in the range of 130.92 - 131.13. If the latter is broken, a deep correction will follow. The target is located at 131.47, which is the key support level.

The main trend is the downward trend from June 15.

Trading recommendations:

Buy: 130.92 Take profit: 131.12

Buy: 131.15 Take profit: 131.47

Sell: 130.23 Take profit: 129.90

Sell: 129.65 Take profit: 129.25

The key levels for the GBP/JPY pair are 153.25, 152.82, 152.50, 151.72, 151.48, and 150.94. We expect the main downward trend from May 28 to develop after the price breaks through the noise range of 151.72 - 151.48. The target is set at 150.94. After reaching it, an upward pullback can be expected.

Meanwhile, short-term growth is likely in the range of 152.50 - 152.82. If the last value is broken, a deep correction will occur. The target is set at 153.25, which is also the key support level.

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

Trading recommendations:

Buy: 152.50 Take profit: 152.80

Buy: 152.90 Take profit: 153.25

Sell: 151.48 Take profit: 151.00

Sell: Take profit: