04.06.201904:48 Forex Analysis & Reviews: Fractal analysis of major currency pairs for June 4

Forecast for June 4:

Analytical review of H1-scale currency pairs:

For the euro / dollar pair, the key levels on the H1 scale are: 1.1310, 1.1282, 1.1266, 1.1238, 1.1225, 1.1204 and 1.1182. Here, we are following the development of the ascending cycle of May 30. Short-term upward movement is expected in the corridor 1.1266 - 1.1282. The breakdown of the last value will lead to movement to the potential target - 1.1310. From this level we expect a rollback to the bottom.

Short-term downward movement is possible in the corridor 1.1238 - 1.1225. The breakdown of the last value will lead to a prolonged correction. Here, the goal is 1.1204. This level is a key support for the top. Its price will have the formation of the initial conditions for the downward trend, in this case, the potential goal is - 1.1182.

The main trend is the ascending cycle of May 30.

Trading recommendations:

Buy 1.1266 Take profit: 1.1280

Buy 1.1284 Take profit: 1.1310

Sell: 1.1224 Take profit: 1.1206

Sell: 1.1202 Take profit: 1.1182

For the pound / dollar pair, the key levels on the H1 scale are: 1.2754, 1.2727, 1.2692, 1.2676, 1.2645, 1.2629, 1.2605 and 1.2558. Here, the price forms a pronounced potential for the upward cycle of May 31. Continuing the development of an upward trend is expected after the price passes the noise range 1.2676 - 1.2692. In this case, the target is 1.2727. Consolidation is near this level. For the potential value to the top, we consider the level of 1.2754, upon reaching which, we expect a rollback.

Short-term downward movement is possible in the corridor 1.2645 - 1.2629. The breakdown of the latter value will lead to a prolonged correction. Here, the target is 1.2605. This level is a key support for the upward structure.

The main trend is the formation of the upward potential of May 31.

Trading recommendations:

Buy: 1.2692 Take profit: 1.2722

Buy: 1.2728 Take profit: 1.2752

Sell: 1.2645 Take profit: 1.2630

Sell: 1.2627 Take profit: 1.2607

For the dollar / franc pair, the key levels on the H1 scale are: 1.0000, 0.9970, 0.9946, 0.9933, 0.9916, 0.9897 and 0.9876. Here, we are following the development of the downward structure of May 30. Short-term downward movement is expected in the range of 0.9916 - 0.9897. The breakdown of the last value will lead to movement to the potential target - 0.9876. From this level, we expect a rollback to the top.

Short-term ascending movement is possible in the corridor 0.9933 - 0.9946. Breaking the last value will lead to a prolonged correction. Here, the target is 0.9970. This level is a key support for the downward structure of May 30. Its price passage will have to form the initial conditions for the upward cycle. In this case, the potential target is 1.0000.

The main trend is the downward cycle of May 30.

Trading recommendations:

Buy : 0.9933 Take profit: 0.9945

Buy : 0.9948 Take profit: 0.9970

Sell: 0.9915 Take profit: 0.9898

Sell: 0.9895 Take profit: 0.9878

For the dollar / yen pair, the key levels on the H1 scale are : 108.84, 108.43, 108.18, 107.76, 107.44 and 106.99. Here, we continue to monitor the downward structure of May 30. Short-term downward movement is expected in the corridor 107.76 - 107.44. The breakdown of the last value will lead to the movement to the potential target - 106.99. And upon reaching this level, we expect a rollback to the top.

Short-term upward movement is possible in the corridor 108.18 - 108.43. The breakdown of the latter value will lead to in-depth correction. Here, the goal is 108.84. This level is a key support for the downward cycle.

The main trend is the local structure for the bottom of May 30.

Trading recommendations:

Buy: 108.18 Take profit: 108.41

Buy: 108.45 Take profit: 108.82

Sell: 107.75 Take profit: 107.45

Sell: 107.42 Take profit: 107.00

For the Canadian dollar / US dollar pair, the key levels on the H1 scale are: 1.3495, 1.3471, 1.3454, 1.3432, 1.3414, 1.3386 and 1.3369. Here, we are following the development of the downward structure of May 31. Short-term downward movement is expected in the corridor 1.3432 - 1.3414. The breakdown of the last value should be accompanied by a pronounced downward movement. Here, the target is 1.3386. For a potential value for the bottom, we consider the level of 1.3369. After reaching which, we expect consolidation, as well as a rollback to the top.

Short-term upward movement is possible in the corridor 1.3454 - 1.3471. The breakdown of the latter value will lead to a prolonged correction. Here, the target is 1.3495. This level is a key support for the bottom.

The main trend is the downward structure of May 31.

Trading recommendations:

Buy: 1.3454 Take profit: 1.3470

Buy : 1.3472 Take profit: 1.3495

Sell: 1.3432 Take profit: 1.3416

Sell: 1.3413 Take profit: 1.3388

For the Australian dollar / US dollar pair, the key levels on the H1 scale are : 0.7042, 0.7013, 0.6994, 0.6983, 0.6955, 0.6941, 0.6919 and 0.6910. Here, we are following the ascending structure of May 23. Short-term upward movement is expected in the corridor of 0.6983 - 0.6994. The breakdown of the latter value will lead to the movement to the level of 0.7013. Consolidation is near this level. For a potential value to the top, we consider the level of 0.7042. From this level, we expect a departure to a correction.

Short-term downward movement is possible in the range of 0.6955 - 0.6941. The breakdown of the latter value will lead to a prolonged movement. Here, the target is 0.6919. The range 0.6919 - 0.6910 is a key support for the ascending structure.

The main trend is the ascending structure of May 23.

Trading recommendations:

Buy: 0.6995 Take profit: 0.7013

Buy: 0.7015 Take profit: 0.7040

Sell : 0.6955 Take profit : 0.6942

Sell: 0.6939 Take profit: 0.6920

For the euro / yen pair, the key levels on the H1 scale are: 122.31, 121.98, 121.71, 121.20, 121.01, 120.56 and 119.98. Here, the price forms the potential for the upward movement of June 3 in the correction of the downward structure. The breakdown of the level 121.71 will lead to the formation of pronounced initial conditions to the top. Here, the goal is 121.98. The breakdown of this level will lead to the development of an upward trend. In this case, the potential target is 122.31.

Short-term downward movement is expected in the corridor 121.20 - 121.01. The breakdown of the last value will cancel the ascending structure from June 3. In this case, we expect movement to the level of 120.56. We consider the level 119.98 to be a potential value for the bottom. We expect a rollback to the top from this level.

The main trend is the mid-term downward structure of May 21, the stage of correction.

Trading recommendations:

Buy: 121.71 Take profit: 121.96

Buy: 122.00 Take profit: 122.30

Sell: 121.20 Take profit: 121.03

Sell: 120.98 Take profit: 120.58

For the pound / yen pair, the key levels on the H1 scale are : 138.39, 137.83, 137.49, 136.52, 135.98, 135.48 and 134.82. Here, we continue the development of the downward trend of May 21 after the breakdown of 136.50. In this case, the target is 135.98. The breakdown of which, in turn, will allow us to expect a movement to the level of 135.48. Consolidation is near this value, and hence the probability of a turn into a correction . For the potential value to the bottom, we consider the level of 134.82.

Short-term upward movement is expected in the corridor 137.49 - 137.83. The breakdown of the last value will lead to a prolonged correction. Here, the target is 138.39. The range is 138.39 - 138.76 noise.

The main trend is a local downward structure of May 21.

Trading recommendations:

Buy: 136.50 Take profit: 136.00

Buy: 135.94 Take profit: 135.50

Sell: 137.46 Take profit: 136.90

Sell: 135.44 Take profit: 134.84