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14.06.202110:50 Forex Analysis & Reviews: Fractal analysis of major currency pairs on June 14, 2021

Outlook on June 14:

Analytical overview of popular currency pairs on the H1 chart:

Exchange Rates 14.06.2021 analysis

The key levels for the EUR/USD pair are 1.2218, 1.2170, 1.2140, 1.2121, 1.2091, 1.2060, 1.2042, 1.1995, and 1.1972. The price is forming a strong local potential downward trend from June 9. We expect the decline to resume after the level of 1.2091 is broken. The target is set at 1.2060. After that, a short-term decline and consolidation in the 1.2060 - 1.2042 range are possible. If the latter is broken, a strong decline will develop to the next target of 1.1995. The final potential downward target is 1.1972. After reaching it, the price may consolidate and pull back upwards.

A short-term growth, in turn, is possible in the range of 1.2121 - 1.2140. If the last value breaks down, a deep correction will occur. The target is set at 1.2170, which is also the key support level.

The main trend is the formation of a local downward trend from June 9.

Trading recommendations:

Buy: 1.2121 Take profit: 1.2140

Buy: 1.2142 Take profit: 1.2170

Sell: 1.2090 Take profit: 1.2060

Sell: 1.2059 Take profit: 1.2043

Exchange Rates 14.06.2021 analysis

The key levels for the GBP/USD pair are 1.4271, 1.4253, 1.4212, 1.4188, 1.4157, 1.4079, 1.4059, 1.4007, 1.3985 and 1.3922. The price has been moving in a downward trend since June 1, but it is in a correction stage. Now, we expect the development of the main trend to continue after the price breaks through the range of 1.4079 - 1.4059. The target is seen at 1.4007 and the price may consolidate in the range of 1.4007 - 1.3985. The ultimate potential downward target is 1.3922. After reaching it, an upward pullback can be expected.

We expect the correction to develop after the level of 1.4157 is broken. Here, the target is 1.4188. Short-term growth is possible in the range of 1.4188 - 1.4212. If the latter is broken, the strong upward movement will accompany the price to the target of 1.4253. A potential upward target is 1.4271. After reaching it, price consolidation can be expected.

The main trend is the downward trend from June 1, correction stage.

Trading recommendations:

Buy: 1.4158 Take profit: 1.4187

Buy: 1.4188 Take profit: 1.4211

Sell: 1.4105 Take profit: 1.4080

Sell: 1.4059 Take profit: 1.4008

Exchange Rates 14.06.2021 analysis

The key levels for the USD/CHF pair are 0.9056, 0.9044, 0.9016, 0.8999, 0.8970, 0.8953, 0.8924, 0.8911, 0.8878 and 0.8862. The price is forming an upward trend from June 9. In this case, we expect a short-term growth in the range of 0.8999 - 0.9016. If the last value is broken, strong growth will continue to the target of 0.9044. The ultimate potential upward target is 0.9056. After reaching it, the price may consolidate in the range of 0.9044 - 0.9056 and pull back downwards.

A short-term decline can be expected in the range of 0.8970 - 0.8953, wherein we expect a key upward reversal. The breakdown of the last value will favor the development of a downward trend. The first potential target is 0.8924.

The main trend is the downward trend from June 4, forming an upward potential from June 9.

Trading recommendations:

Buy: 0.9000 Take profit: 0.9014

Buy: 0.9017 Take profit: 0.9044

Sell: 0.8970 Take profit: 0.8955

Sell: 0.8951 Take profit: 0.8925

Exchange Rates 14.06.2021 analysis

The key levels for the USD/JPY pair are 110.34, 109.98, 109.81, 109.38, 109.15, 108.78, and 108.64. We are following the development of the long-term upward trend from May 25 and the formation of the downward trend from June 3. We expect the decline to continue after the level of 109.38 is broken. The target is set at 109.15 and the price may consolidate near it. If the indicated target is broken, it will lead to the cancellation of the upward trend from May 25. In this case, we can expect the strong decline to develop to the level of 108.78. The final potential downward target is 108.64. After reaching it, an upward pullback can be expected.

Meanwhile, short-term growth is possible in the 109.81 - 109.98 range. If the last value is broken, the upward trend will develop to the potential target of 110.34.

The main trend is the long-term upward trend from May 25, the formation of the downward trend from June 3.

Trading recommendations:

Buy: 109.81 Take profit: 109.96

Buy: 110.00 Take profit: 110.34

Sell: 109.38 Take profit: 109.17

Sell: 109.13 Take profit: 108.80

Exchange Rates 14.06.2021 analysis

The key levels for the USD/CAD pair are 1.2278, 1.2241, 1.2205, 1.2188, 1.2147, 1.2124, and 1.2093. The price has been moving in a bullish trend since June 1. Now, we expect a short-term growth in the range of 1.2188 - 1.2205. If the level of 1.2205 breaks down, it will lead to a strong growth towards the target of 1.2241. The price may consolidate near it. The final potential upward target is 1.2278. After reaching it, a downward pullback can be expected.

On the other hand, the short-term decline is likely in the range of 1.2147 - 1.2124. If the latter is broken, a deep correction will follow. The target is set at 1.2093, which is the key support level.

The main trend is the upward trend from June 1.

Trading recommendations:

Buy: 1.2205 Take profit: 1.2240

Buy: 1.2243 Take profit: 1.2278

Sell: 1.2145 Take profit: 1.2125

Sell: 1.2123 Take profit: 1.2095

Exchange Rates 14.06.2021 analysis

The key levels for the AUD/USD pair are 0.7841, 0.7824, 0.7786, 0.7772, 0.7749, 0.7709, 0.7686 and 0.7648. The price has been moving in an upward trend since June 3 but it is in a deep correction right now. We expect the upward movement to continue after the level of 0.7749 is broken. The first target is set at 0.7772. The price breaking through the range of 0.7772 - 0.7786 should be accompanied by a strong growth towards the target of 0.7824. The ultimate potential upward target is 0.7841. After reaching it, the price may consolidate and pull back downwards.

A short-term decline is possible in the 0.7709 - 0.7686 range. If the latter is broken, the upward trend from June 3 will be canceled. The first potential target is set at 0.7648.

The main trend is the upward trend from June 3, deep correction stage.

Trading recommendations:

Buy: 0.7750 Take profit: 0.7772

Buy: 0.7786 Take profit: 0.7824

Sell: 0.7707 Take profit: 0.7690

Sell: 0.7685 Take profit: 0.7650

Exchange Rates 14.06.2021 analysis

The key levels for the EUR/JPY pair are 133.48, 133.16, 132.95, 132.48, 132.34, 132.00, and 131.68. The price has been moving in a bearish trend since June 1. We expect this trend to resume after the price breaks through the noise range of 132.48 - 132.34. The target is set at 132.00 and the price may consolidate around it. The final potential downward target is 131.68. After reaching it, the price may consolidate and pull back upwards.

In turn, short-term growth can be expected in the 132.95 - 133.16 range. If the last value is broken, a deep correction will occur. The target is set at 133.48, which is also the key support level.

The main trend is the downward trend from June 1.

Trading recommendations:

Buy: 132.95 Take profit: 133.16

Buy: 133.18 Take profit: 133.48

Sell: 132.33 Take profit: 132.03

Sell: 131.98 Take profit: 131.68

Exchange Rates 14.06.2021 analysis

The key levels for the GBP/JPY pair are 156.04, 155.30, 154.49, 154.04, 153.68, 153.14, and 152.85. The price has been moving in a bearish trend since May 28, but it is at a correction right now. The key support level for the decline is 155.30. The downward is expected to continue after the level of 154.49 is broken. The first target is set at 154.04. After that, a short-term decline may occur in the 154.04 - 153.68 range. If the latter is broken, a strong decline will continue to the next target of 153.14. The final potential downward target is 152.85. After reaching it, the price may consolidate and pull back upwards.

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

Trading recommendations:

Buy: 155.30 Take profit: 156.00

Buy: Take profit:

Sell: 154.49 Take profit: 154.06

Sell: 154.02 Take profit: 153.68

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

Daichi Takahashi,
Analytical expert
InstaForex Group © 2007-2021
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