Forecast for June 3:
Analytical review of currency pairs on the scale of H1:
For the euro / dollar pair, the key levels on the H1 scale are: 1.1344, 1.1294, 1.1254, 1.1168, 1.1137 and 1.1087. Here, we continue to monitor the ascending structure of May 25. At the moment, we expect a movement to the level of 1.1254. Short-term downward movement, as well as consolidation is in the range of 1.1254 – 1.1294. For the potential value for the top, we consider the level of 1.1344. Upon reaching this level, we expect a downward pullback.
A short-term downward movement is expected in the range of 1.1168 – 1.1137. The breakdown of the last value will lead to an in-depth correction. In this case, the target is 1.1087. This level is a key support for the upward structure.
The main trend is the local structure for the top of May 25
Trading recommendations:
- Buy: 1.1255 Take profit: 1.1292
- Buy: 1.1295 Take profit: 1.1344
- Sell: 1.1168 Take profit: 1.1138
- Sell: 1.1135 Take profit: 1.1088
For the pound / dollar pair, the key levels on the H1 scale are: 1.2777, 1.2690, 1.2642, 1.2566, 1.2515 and 1.2441. Here, we are following the ascending structure of May 25. Short-term upward movement is expected in the range of 1.2642 – 1.2690. The breakdown of the last level will allow us to expect movement to a potential target – 1.2777. Upon reaching which, we expect consolidation, as well as a pullback to correction.
A short-term downward movement is expected in the range of 1.2566 – 1.2515. The breakdown of the last level will lead to an in-depth correction. Here, the target is 1.2441. This level is a key support for the top.
The main trend is the local ascending structure of May 25
Trading recommendations:
- Buy: 1.2642 Take profit: 1.2690
- Buy: 1.2692 Take profit: 1.2775
- Sell: 1.2566 Take profit: 1.2515
- Sell: 1.2513 Take profit: 1.2450
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 : 109.56, 109.20, 109.01, 108.72, 108.37, 108.19 and 107.93. Here, we are following the development of the upward cycle of May 29. The continuation of the upward movement is expected after the breakdown of the level of 108.72. In this case, the target is 109.01. Short-term downward movement, as well as consolidation is in the range of 109.01 – 109.20. We consider the level of 109.56 to be a potential value for the upward trend; upon reaching this level, we expect a downward pullback.
A short-term downward movement is possible in the range of 108.37 – 108.19. The breakdown of the last value will lead to an in-depth correction. Here, the target is 107.93.
The main trend is the upward cycle of May 29
Trading recommendations:
- Buy: 108.73 Take profit: 109.00
- Buy : 109.03 Take profit: 109.20
- Sell: 108.36 Take profit: 108.21
- Sell: 108.16 Take profit: 107.95
For the Canadian dollar / US dollar pair, the key levels on the H1 scale are: 1.3735, 1.3634, 1.3583, 1.3545, 1.3452, 1.3422, 1.3346 and 1.3299. Here, we are following the development of the local downward cycle of May 29. The continuation of the downward movement is expected after the price passes the noise range 1.3452 – 1.3422. In this case, the target is 1.3346. For the potential value for the bottom, we consider the level of 1.3299. Upon reaching which, we expect consolidation, as well as an upward pullback.
A short-term upward movement is possible in the range of 1.3545 – 1.3583. The breakdown of the last level will lead to the development of an in-depth correction. Here, the potential target is 1.3634. This level is a key support for the downward structure and its breakdown will lead to the formation of initial conditions for the upward cycle. In this case, the target is 1.3735.
The main trend is the local descending structure of May 29
Trading recommendations:
- Buy: 1.3445 Take profit: 1.3581
- Buy : 1.3585 Take profit: 1.3632
- Sell: 1.3422 Take profit: 1.3348
- Sell: 1.3344 Take profit: 1.3300
For the Australian dollar / US dollar pair, the key levels on the H1 scale are : 0.7132, 0.7073, 0.7011, 0.6902, 0.6850 and 0.6774. Here, we are following the development of the upward cycle of May 15. The continuation of the upward movement is expected after the breakdown of the level of 0.7011. In this case, the target is 0.7073. For the potential value for the top, we consider the level of 0.7132. Upon reaching which, we expect a downward pullback. However, it is most likely that the reversal to the correction will occur earlier than reaching the potential level, namely from the range 0.7011 – 0.7073.
A short-term downward movement is possible in the range of 0.6902 – 0.6850. The breakdown of the latter value will lead to an in-depth correction. Here, the target is 0.6774. This level is a key support for the top.
The main trend is the upward structure of May 15
Trading recommendations:
- Buy: 0.7011 Take profit: 0.7070
- Buy: 0.7075 Take profit: 0.7130
- Sell : 0.6902 Take profit : 0.6853
- Sell: 0.6848 Take profit: 0.6780
For the euro / yen pair, the key levels on the H1 scale are: 122.53, 121.85, 121.23, 120.87 and 120.24. Here, we continue to monitor the ascending structure of May 22. The continuation of upward movement is expected after the breakdown of the level of 121.85. In this case, the potential target is 122.53. Upon reaching this level, we expect a downward pullback.
A short-term downward movement is possible in the range of 121.23 – 120.87. The breakdown of the last level will lead to an in-depth correction. Here, the goal is 120.24. This level is a key support for the top.
The main trend is the local ascending structure of May 22
Trading recommendations:
- Buy: 121.87 Take profit: 122.51
- Buy: Take profit:
- Sell: 121.23 Take profit: 120.88
- Sell: 120.85 Take profit: 120.26
For the pound / yen pair, the key levels on the H1 scale are : 138.98, 137.82, 137.25, 136.04, 135.62 and 135.03. Here, we are following the development of the upward cycle of May 29. Short-term upward movement is possible in the range of 137.25 – 137.82. The breakdown of the last level will lead to movement to a potential target – 138.98. We expect a pullback to the bottom from this level.
A short-term downward movement is possible in the range of 136.04 – 135.62. The breakdown of the last level will lead to an in-depth correction. Here, the potential target is 135.03. This level is a key support for the upward structure.
The main trend is the upward structure of May 29
Trading recommendations:
- Buy: 137.25 Take profit: 137.80
- Buy: 137.86 Take profit: 138.96
- Sell: 136.04 Take profit: 135.64
- Sell: 135.60 Take profit: 135.05
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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