FX.co ★ Fractal analysis of major currency pairs on June 29, 2021

Outlook on June 29:

Analytical overview of popular currency pairs on the H1 chart:

The key levels for the EUR/USD pair are 1.2044, 1.2002, 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 stage. We expect the decline to resume after the level of 1.1874 is broken. The first target is set at 1.1834. After that, a short-term decline in the range of 1.1834 - 1.1807 may occur. If the last value is broken, strong movement will continue to the target of 1.1766. After that, 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.

In turn, short-term growth and consolidation are expected in the range of 1.1924 - 1.1976. If the latter is broken, the upward cycle on the H1 chart will develop. The target is 1.2002. A potential upward target is 1.2044. After reaching it, strong initial conditions for an upward trend will form.

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

Trading recommendations:

Buy: 1.1940 Take profit: 1.1976

Buy: 1.1976 Take profit: 1.2002

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, 1.3936, 1.3879, 1.3858, and 1.3823. The price has been moving in an upward trend since June 21. This trend is likely to continue after the level of 1.3936 is broken The first target is set at 1.3971. The continuation of the main trend can be expected after the price breaks through the range of 1.3971 - 1.3993. Here, the target is 1.4049. The ultimate potential upward target is 1.4075. After reaching it, the price may consolidate and pull back downwards.

The key support is the range of 1.3879 - 1.3858, whose breakdown will favor the development of a downward trend. The first target is 1.3823. A downward potential target is 1.3784 and price consolidation can be expected near it.

The main trend is the upward trend from June 21, initial conditions zone.

Trading recommendations:

Buy: 1.3936 Take profit: 1.3970

Buy: 1.3995 Take profit: 1.4049

Sell: 1.3858 Take profit: 1.3825

Sell: 1.3821 Take profit: 1.3785

The key levels for the USD/CHF pair are 0.9238, 0.9192, 0.9167, and 0.9129. We expect the formation of local initial values for the subsequent development of the upward trend up to the level of 0.9238. Here, a short-term decline is expected in the 0.9192 - 0.9167 range. If the level of 0.9167 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 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. Thus, we expect a short-term growth in the range of 110.97 - 111.21. If the last value 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.

Meanwhile, a short-term decline is possible in the range of 110.57 - 110.38. If the latter breaks down, 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 bearish trend of June 21. We expect this 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 range of 1.2246 - 1.2206. The final 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 1.2350 - 1.2375 range. 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 0.7663, 0.7646, 0.7625, 0.7603, 0.7564, 0.7541, 0.7514 and 0.7479. The price has been moving in an upward trend since June 18. In this case, we expect a short-term growth in the range of 0.7603 - 0.7625. The final potential upward target is 0.7663. After reaching it, the price may consolidate in the range of 0.7646 - 0.7663.

A downward correction is expected in the range of 0.7564 - 0.7541. If the latter is broken, a deep correction will occur. The target is set at 0.7514, which is also the key support level.

The main trend is the upward trend from June 18.

Trading recommendations:

Buy: 0.7603 Take profit: 0.7623

Buy: 0.7626 Take profit: 0.7646

Sell: 0.7564 Take profit: 0.7542

Sell: 0.7539 Take profit: 0.7515

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

Alternatively, a short-term decline can be expected in the range of 131.65 - 131.32. If the latter is broken, the downward trend will develop. The first potential target is set at 130.74.

The main trend is the upward cycle of June 21

Trading recommendations:

Buy: 132.68 Take profit: 133.14

Buy: 133.17 Take profit: 133.64

Sell: 131.64 Take profit: 131.33

Sell: 131.30 Take profit: 130.80

The key levels for the GBP/JPY pair are 156.30, 155.56, 155.22, 154.50, 154.12, 153.80, 153.02, 152.80, 152.38, 152.00 and 151.35. The price has been moving in an upward trend since June 21, but it is in a deep correction right now and has formed the potential for a downward trend from June 23. We expect the downward trend to resume after the price breaks through the 153.02 - 152.80 range. The target is set at 152.38. After that, a short-term decline and consolidation can be expected in the range of 152.38 - 152.00. The ultimate potential downward target is 151.35. After reaching it, an upward pullback is possible.

A short-term growth, in turn, is expected in the range of 153.80 - 154.12. If the level of 154.12 is broken, a deep correction will follow. The target is set at 154.50, which is the key resistance for the next development of an upward trend. Here, the first potential target is 155.22.

The main trend is the upward trend from June 21, deep correction stage.

Trading recommendations:

Buy: 153.80 Take profit: 154.12

Buy: 154.14 Take profit: 154.50

Sell: 152.80 Take profit: 152.38

Sell: 152.36 Take profit: 152.00