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12.06.2018 10:56 PM
Fractal analysis of major currency pairs as of June 12

Dear colleagues.

For the pair Euro / Dollar, the price is in correction from the upward structure and forms the potential for the bottom of June 7. For Pound / Dollar pair, the continuation of the upward movement is possible after the breakdown of 1.3457 and the level of 1.3381 is the key support. For the pair Dollar / Franc, the price forms a strong potential for the upward movement of June 7. For the pair of Dollar / Yen, the price is in a deep correction. For the pair Euro / Yen, the continuation of the upward trend from May 29, we expect after the breakdown of 129.85, the level of 128.68 is the key support. For the Pound / Yen pair, we follow the development of the upward cycle from May 29, the continuation of the upward movement is expected after the breakdown of 147.50.

Forecast for June 12:

Analytical review of currency pairs in the scale of H1:

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For the EUR / USD pair, the key levels on the scale of H1 are: 1.1955, 1.1907, 1.1849, 1.1824, 1.1752, 1.1721, 1.1672 and 1.1631. Here, we continue to follow the upward structure of May 30. The continued development of the upward trend is expected after the passage at the price of the noise range of 1.1824 - 1.1849. In this case, the target is 1.1907 and near this level is the consolidation. The potential value for the top is the level of 1.1955, upon reaching which we expect a pullback downwards.

The short-term downward movement is possible in the corridor of 1.1752-1.1721 and the breakdown of the last value will lead to an in-depth correction. Here, the target is 1.1672 and this level is the key support for the upward structure of May 30. Its breakdown will have to develop a downward structure. In this case, the target is 1.1631.

The main trend is the upward structure of May 30.

Trading recommendations:

Buy: 1.1850 Take profit: 1.1905

Buy 1.1908 Take profit: 1.1955

Sell: 1.1750 Take profit: 1.1722

Sell: 1.1718 Take profit: 1.1674

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For the Pound / Dollar pair, the key levels on the scale of H1 are: 1.3548, 1.3495, 1.3457, 1.3381, 1.3354, 1.3311 and 1.3273. Here, we follow the upward structure from May 29. Currently, we expect the move to the level of 1.3457 and the breakdown of which, in turn, will lead to a movement to the level of 1.3495, near which, we expect consolidation. The potential value for the top is the level of 1.3548, from this level we expect a departure to correction.

The short-term downward movement is possible in the corridor of 1.3381 - 1.3354 and the breakdown of the last value will lead to an in-depth correction. Here, the target is 1.3311 and this level is the key support for the top. Its breakdown will have a downward structure. In this case, the potential target is 1.3273.

The main trend is the upward structure of May 29.

Trading recommendations:

Buy: 1.3460 Take profit: 1.3490

Buy: 1.3497 Take profit: 1.3545

Sell: 1.3380 Take profit: 1.3355

Sell: 1.3352 Take profit: 1.3313

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For the pair Dollar / Franc, the key levels on the scale of H1 are: 0.9990, 0.9963, 0.9924, 0.9896, 0.9835, 0.9812, 0.9784 and 0.9754. Here, the price has issued a pronounced structure from June 7 to develop an upward trend. The continued upward movement is expected after the breakdown of 0.9896. In this case, the target is 0.9924 and near this level is the consolidation. The breakdown of 0.9926 should be accompanied by a pronounced upward movement, the target here is 0.9963. The potential value for the top is the level of 0.9990, upon reaching this level, we expect the correction to go.

The short-term downward movement is possible in the corridor of 0.9835 - 0.9812. Hence, the probability of a reversal is high and the breakdown of the level of 0.9812 will have a downward trend. In this case, the target is 0.9784.

The main trend is a local downward structure from May 29, the formation of the potential for the top of June 7.

Trading recommendations:

Buy: 0.9896 Take profit: 0.9922

Buy: 0.9926 Take profit: 0.9960

Sell: 0.9833 Take profit: 0.9814

Sell: 0.9810 Take profit: 0.9786

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For the pair Dollar / Yen, the key levels on the scale of H1 are: 112.24, 111.90, 111.31, 110.92, 110.69, 110.30, 109.79, 109.46 and 108.91. Here, we follow the development of the upward structure of May 29. The continued upward movement is expected after the breakdown of 110.30. In this case, the target is 110.69 and in the corridor of 110.69 - 110.92 is the consolidation. The breakdown of the level of 110.92 will allow to count on the movement to the level of 111.31. We consider the level of 112.24 to be a potential value for the top, after which we expect consolidation in the corridor of 112.24 - 111.90.

The short-term downward movement is possible in the corridor of 109.79 - 109.46 and the breakdown of the last value will lead to an in-depth correction. Here, the target is 108.91 and this level is the key support for the top.

The main trend is an upward cycle from May 29.

Trading recommendations:

Buy: 110.30 Take profit: 110.66

Buy: 110.92 Take profit: 111.30

Sell: 109.77 Take profit: 109.47

Sell: 109.44 Take profit: 108.93

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For the Canadian Dollar / Dollar pair, the key levels on the scale of H1 are: 1.3278, 1.3219, 1.3159, 1.3093, 1.3053, 1.2905, 1.2856, 1.2819 and 1.2758. Here, we follow the upward structure of May 31. The development of which is expected after the pass at the price of the noise range of 1.3053 - 1.3093. In this case, the target is 1.3159 and near this level is the consolidation. The break level of 1.3160 will lead to the movement to the level of 1.3219, from which there is a high probability of leaving the correction. The potential value for the top is the level of 1.3278.

The short-term downward movement is possible in the range of 1.2905 - 1.2856 and the breakdown of the last value will have to develop the downward structure. In this case, the potential target is 1.2758.

The main trend is the upward structure of May 31.

Trading recommendations:

Buy: 1.3093 Take profit: 1.3156

Buy: 1.3162 Take profit: 1.3216

Sell: 1.2905 Take profit: 1.2858

Sell: 1.2819 Take profit: 1.2760

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For the Australian Dollar / Dollar pair, the key levels in the scale of H1 are: 0.7719, 0.7677, 0.7639, 0.7619, 0.7553, 0.7515 and 0.7474. Here, the price forms the potential for a downward movement from June 6. The continued downward movement is expected after the breakdown of 0.7553. In this case, the target is 0.7515 and near this level is the consolidation. The potential value for the bottom is the level of 0.7474.

The short-term upward movement is possible in the corridor of 0.7619 - 0.7639 and the breakdown of the latter value will have to develop an ascending structure. Here, the first target is 0.7677 and this level is the key resistance for the subsequent development of the upward trend.

The main trend is the formation of a downward structure from June 6.

Trading recommendations:

Buy: 0.7640 Take profit: 0.7674

Buy: 0.7679 Take profit: 0.7717

Sell: 0.7550 Take profit: 0.7516

Sell: 0.7513 Take profit: 0.7476

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For the pair of Euro / Yen, the key levels on the scale of H1 are: 132.58, 131.40, 130.83, 129.85, 129.22, 128.68 and 127.77. Here, we follow the upward structure of May 29. The continued upward movement is expected after the breakdown of 129.85. In this case, the target is 130.83 and in the corridor of 130.83 - 131.40 is the consolidation of the price. The potential value for the top is the level of 132.58, upon reaching which we expect a pullback downwards.

The short-term downward movement is possible in the corridor of 129.22 - 128.68 and the breakdown of the last value will lead to an in-depth correction. Here, the target is 127.77 and this level is the key support for the top.

The main trend is the upward structure of May 29.

Trading recommendations:

Buy: 129.87 Take profit: 130.80

Buy: 131.42 Take profit: 132.55

Sell: 129.20 Take profit: 128.70

Sell: 128.65 Take profit: 127.80

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For the Pound / Yen pair, the key levels on the scale of H1 are: 149.48, 148.79, 147.96, 147.50, 146.89, 146.38 and 145.64. Here, we follow the development of the upward cycle of May 29. The short-term upward movement is possible in the corridor of 147.50 - 147.96 and the breakdown of the last value should be accompanied by a pronounced upward movement. Here, the target is 148.79. The potential value for the top is the level of 149.48, upon reaching which we expect a pullback downwards.

The short-term downward movement is possible in the corridor of 146.89 - 146.38 and the breakdown of the last value will lead to an in-depth correction. Here, the target is 145.64 and this level is the key support for the top.

The main trend is the upward cycle from May 29.

Trading recommendations:

Buy: 147.50 Take profit: 147.94

Buy: 148.00 Take profit: 148.75

Sell: 146.85 Take profit: 146.40

Sell: 146.35 Take profit: 145.70

Daichi Takahashi,
Analytical expert of InstaForex
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