FX.co ★ Fractal analysis of major currency pairs on June 23, 2021

Outlook on June 23:

Analytical overview of popular currency pairs on the H1 chart:

The key levels for the EUR/USD pair are 1.1976, 1.1924, 1.1874, 1.1834, 1.1807, 1.1766, 1.1741, and 1.1688. The price has been moving in a downward trend since June 9, but it is currently in a correction. We expect the downward movement to continue after the level of 1.1874 is broken. The first target is set at 1.1834. A short-term decline in the range of 1.1834 - 1.1807 may follow. If the latter is broken, strong movement will continue to the target of 1.1766 and then the price may consolidate in the 1.1766 - 1.1741 range. 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 1.1924 - 1.1976. If the last value breaks down, the upward trend on the H1 chart will develop.

The main trend is the local downward trend from June 9, correction stage.

Trading recommendations:

Buy: 1.1940 Take profit: 1.1976

Buy: Take profit:

Sell: 1.1874 Take profit: 1.1835

Sell: 1.1806 Take profit: 1.1767

The key levels for the GBP/USD pair are 1.4075, 1.4049, 1.3993, 1.3971, 1.3915, 1.3879, 1.3858, and 1.3823. The price has been moving in an upward trend since June 21. We expect this growth to resume after the price breaks through the 1.3971 - 1.3993 range. The target is set at 1.4049. The ultimate potential upward target is 1.4075, After reaching it, the price may consolidate and pull back downwards.

The price is likely to make a correction after the level of 1.3915 is broken. The target is set at 1.3879. The key support is in the range of 1.3879 - 1.3858, whose breakdown will favor the development of a downward trend. The first target is set at 1.3823.

The main trend is the upward trend from June 21.

Trading recommendations:

Buy: 1.3995 Take profit: 1.4048

Buy: 1.4051 Take profit: 1.4075

Sell: 1.3915 Take profit: 1.3880

Sell: 1.3856 Take profit: 1.3825

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. Here, we expect a short-term decline in the range of 0.9192 - 0.9167. If the level of 0.9167 breaks down, 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 111.94, 111.61, 111.21, 110.97, 110.57, 110.38 and 110.13. The price has been moving in a local bullish trend since June 21. Now, we expect a short-term growth in the range of 110.97 - 111.21. If the latter is broken, strong growth will continue to the target of 111.61. The final potential upward target is 111.94. After reaching it, the price may consolidate and pull back downwards.

A short-term decline is likely in the range of 110.57 - 110.38. If the latter is broken, a deep correction will occur. The target is set at 110.13, which is also the key support level.

The main trend is the local upward trend from June 21.

Trading recommendations:

Buy: 110.98 Take profit: 111.20

Buy: 111.24 Take profit: 111.60

Sell: 110.57 Take profit: 110.40

Sell: 110.36 Take profit: 110.15

The key levels for the USD/CAD pair are 1.2420, 1.2375, 1.2350, 1.2298, 1.2246, 1.2206, and 1.2162. We are watching the formation of the initial conditions for the downward cycle of June 21. We expect the downward trend to continue after the level of 1.2298 is broken. The target is set at 1.2246. After that, a short-term decline and consolidation are possible in the 1.2246 - 1.2206 range. The ultimate potential downward target is 1.2162. After reaching it, an upward pullback can be expected.

On the other hand, short-term growth can be expected in the range of 1.2350 - 1.2375. If the latter is broken, a deep correction will occur. The target is set at 1.2420, which is also the key support level.

The main trend is the formation of initial downward conditions from June 21.

Trading recommendations:

Buy: 1.2350 Take profit: 1.2375

Buy: 1.2377 Take profit: 1.2420

Sell: 1.2297 Take profit: 1.2248

Sell: 1.2245 Take profit: 1.2208

The key levels for the AUD/USD pair are 0.7595, 0.7567, 0.7509, 0.7479, 0.7462, 0.7441 and 0.7405. The price has been moving in a bearish trend since June 11, but it is now in correction and forms an upward potential. We expect the decline to continue after the level of 0.7509 is broken. The target is set at 0.7479. After that, the price may consolidate in the 0.7479 - 0.7462 range. If the latter is broken, it will allow us to move to the next level of 0.7441. Another price consolidation can be expected around it. We expect a move to the final potential downward target of 0.7405 after the breakdown of 0.7440.

Meanwhile, the breakdown of the level of 0.7567 will favor the development of an upward trend. The first target is set at 0.7595 and the price may consolidate near it.

The main trend is the downward trend from June 11, correction stage.

Trading recommendations:

Buy: 0.7568 Take profit: 0.7594

Buy: Take profit:

Sell: 0.7509 Take profit: 0.7480

Sell: 0.7461 Take profit: 0.7442

The key levels for the EUR/JPY pair are 133.64, 133.16, 132.67, 132.45, 131.87, 131.65, and 131.32. The price has been moving in an upward trend since June 21. In this case, we expect a short-term growth in the range 132.45 - 132.67. If the last value is broken, strong upward movement will resume to the target of 133.16. The price may consolidate near it. The ultimate potential upward target is 133.64. After reaching it, a downward pullback will occur.

Alternatively, a short-term decline is possible in the range of 131.87 - 131.65. If the level of 131.65 is broken, a deep correction will occur. The target is set at 131.32, which is also the key support level.

The main trend is the upward trend from June 21.

Trading recommendations:

Buy: 132.68 Take profit: 133.14

Buy: 133.17 Take profit: 133.64

Sell: 131.87 Take profit: 131.66

Sell: 131.64 Take profit: 131.33

The key levels for the GBP/JPY pair are 156.30, 155.56, 155.22, 154.65, 154.30, and 153.75. The price has been moving in a bullish trend since June 21. Now, we expect a short-term growth in the range of 155.22 - 155.56. If the latter breaks down, the movement will continue to a potential target of 156.30, from which a pullback into a correction is possible.

A short-term decline is likely in the range of 154.65 - 154.30. If the level of 154.30 is broken, a deep correction will occur. The target is set at 153.75, which is also the key support level.

The main trend is the upward trend from June 21.

Trading recommendations:

Buy: 155.22 Take profit: 155.54

Buy: 155.60 Take profit: 156.30

Sell: 154.65 Take profit: 154.32

Sell: 154.28 Take profit: 153.80