Forecast for June 2:
Analytical review of currency pairs on the scale of H1:
For the euro / dollar pair, the key levels on the H1 scale are: 1.1294, 1.1254, 1.1197, 1.1168, 1.1115, 1.1085, 1.1037 and 1.0994. Here, we continue to monitor the ascending structure of May 25. Short-term upward movement is expected in the range of 1.1168 – 1.1197. The breakdown of the last level will lead to a pronounced movement. Here, the target is 1.1254. For the potential value for the top, we consider the level of 1.1294. Upon reaching which, we expect consolidation, as well as a downward pullback.
A short-term downward movement is expected in the range of 1.1115 – 1.1085. The breakdown of the last value will lead to an in-depth correction. In this case, the goal is 1.1037. This level is a key support for the upward structure and its breakdown will lead to the formation of initial conditions for the downward cycle. Here, the potential goal is 1.0994.
The main trend is the local structure for the top of May 25
Trading recommendations:
- Buy: 1.1198 Take profit: 1.1252
- Buy: 1.1255 Take profit: 1.1292
- Sell: 1.1085 Take profit: 1.1038
- Sell: 1.1035 Take profit: 1.0995
For the pound / dollar pair, the key levels on the H1 scale are: 1.2690, 1.2642, 1.2566, 1.2515, 1.2456, 1.2407 and 1.2347. Here, we are following the ascending structure of May 25. Short-term upward movement is expected in the range of 1.2515 – 1.2566. The breakdown of the latter value will lead to a pronounced movement. Here, the target is 1.2642. For the potential value for the top, we consider the level of 1.2690. Upon reaching this value, we expect consolidation, as well as a downward pullback.
Short-term downward movement is expected in the range of 1.2456 – 1.2407. The breakdown of the last level will lead to an in-depth correction. Here, the target is 1.2347. This level is a key support for the top.
The main trend is the local ascending structure of May 25
Trading recommendations:
- Buy: 1.2515 Take profit: 1.2564
- Buy: 1.2567 Take profit: 1.2640
- Sell: 1.2456 Take profit: 1.2409
- Sell: 1.2405 Take profit: 1.2348
For the dollar/franc pair, the key levels on the H1 scale are: 0.9671, 0.9639, 0.9618, 0.9586, 0.9564, 0.9533 and 0.9515. Here, we are following the descending structure of May 25. Short-term downward movement is expected in the range of 0.9586 – 0.9564. The breakdown of the last level will lead to a pronounced movement. Here, the target is 0.9533. For the potential value for the bottom, we consider the level of 0.9515. Upon reaching which, we expect consolidation, as well as an upward pullback.
A short-term upward movement is possible in the range of 0.9618 – 0.9639. The breakdown of the latter value will lead to an in-depth correction. In this case, the target is 0.9671. This level is a key support for the bottom.
The main trend is the descending structure of May 25
Trading recommendations:
- Buy : 0.9618 Take profit: 0.9637
- Buy : 0.9641 Take profit: 0.9670
- Sell: 0.9586 Take profit: 0.9566
- Sell: 0.9562 Take profit: 0.9535
For the dollar / yen pair, the key levels on the scale are : 108.72, 108.50, 108.07, 107.93, 107.73, 107.38, 107.23 and 107.04. Here, the price forms a pronounced potential for the upward movement of May 29. The continuation of the upward movement is expected after the breakdown of the level of 107.73. In this case, the target is 107.93. Price consolidation is in the range of 107.93 – 108.07. The breakdown of the level of 108.07 will lead to a pronounced movement. In this case, the target is 108.50. For the potential value for the top, we consider the level of 108.72. Upon reaching which, we expect consolidation, as well as a downward pullback.
A short-term downward movement is possible in the range of 107.38 – 107.23. The breakdown of the last level will lead to the cancellation of the upward structure from May 29. In this case, the target is 107.04.
The main trend is building potential for the top of May 29
Trading recommendations:
- Buy: 107.73 Take profit: 107.93
- Buy : 108.08 Take profit: 108.50
- Sell: 107.38 Take profit: 107.25
- Sell: 107.20 Take profit: 107.06
For the Canadian dollar / US dollar pair, the key levels on the H1 scale are: 1.3688, 1.3634, 1.3585, 1.3513, 1.3452, 1.3422 and 1.3346. Here, we determine the next goals from the local descending structure on May 29. The continuation of the downward movement is expected after the breakdown of the level of 1.3513. In this case, the target is 1.3452. Price consolidation is in the range of 1.3452 – 1.3422. For the potential value for the bottom, we consider the level of 1.3346. Upon reaching this level, we expect an upward pullback.
A short-term upward movement is possible in the range of 1.3585 – 1.3634. The breakdown of the latter value will lead to the development of an in-depth correction. Here, the potential target is 1.3688. We expect the initial conditions to be formed for the upward cycle to this level.
The main trend is the local descending structure of May 29
Trading recommendations:
- Buy: 1.3585 Take profit: 1.3633
- Buy : 1.3635 Take profit: 1.3688
- Sell: 1.3513 Take profit: 1.3452
- Sell: 1.3422 Take profit: 1.3346
For the Australian dollar / US dollar pair, the key levels on the H1 scale are : 0.6967, 0.6919, 0.6866, 0.6764, 0.6729, 0.6666 and 0.6614. Here, we are following the development of the upward cycle of May 15. At the moment, we expect a movement to the level of 0.6866. Price consolidation is near which and its breakdown will allow us to expect a movement to 0.6919. For the potential value for the top, we consider the level of 0.6967. Upon reaching which, we expect a downward pullback.
A short-term downward movement is possible in the range of 0.6764 – 0.6729. The breakdown of the last value will lead to an in-depth correction. Here, the target is 0.6666. The breakdown of which will lead to the formation of initial conditions for the downward cycle. Here, the potential target is 0.6614.
The main trend is the upward structure of May 15
Trading recommendations:
- Buy: 0.6814 Take profit: 0.6865
- Buy: 0.6867 Take profit: 0.6918
- Sell : 0.6764 Take profit : 0.6730
- Sell: 0.6727 Take profit: 0.6670
For the euro / yen pair, the key levels on the H1 scale are: 121.23, 120.78, 120.24, 119.97, 119.51, 119.18 and 118.70. Here, we continue to monitor the ascending structure of May 22. A short-term upward movement is expected in the range of 119.97 – 120.24. The breakdown of the last level will lead to a pronounced movement. Here, the target is 120.78. For the potential value for the top, we consider the level of 121.23. Upon reaching which, we expect consolidation, as well as a downward pullback.
A short-term downward movement is possible in the range of 119.51 – 119.18. The breakdown of the last level will lead to an in-depth correction. Here, the goal is 118.70. This level is a key support for the top.
The main trend is the local ascending structure of May 22
Trading recommendations:
- Buy: 119.97 Take profit: 120.23
- Buy: 120.26 Take profit: 120.76
- Sell: 119.50 Take profit: 119.20
- Sell: 119.16 Take profit: 118.72
For the pound / yen pair, the key levels on the H1 scale are : 136.70, 135.99, 135.62, 135.03, 134.28, 133.93 and 133.37. Here, the subsequent goals for the top are determined from the local ascending structure on May 29. The continuation of the upward movement is expected after the breakdown of the level of 135.03. In this case, the target is 135.62. Price consolidation is in the range of 135.62 – 135.99. For the potential value for the top, we consider the level of 136.70. Upon reaching which, we expect a downward pullback.
A short-term downward movement is possible in the range of 134.28 – 133.93. The breakdown of the latter value will lead to an in-depth correction. Here, the potential target is 133.37. This level is a key support for the upward structure.
The main trend is the upward structure of May 15
Trading recommendations:
- Buy: 135.05 Take profit: 135.62
- Buy: 136.00 Take profit: 136.70
- Sell: 134.28 Take profit: 133.95
- Sell: 133.91 Take profit: 133.40
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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