Forecast for June 10:
Analytical review of currency pairs on the scale of H1:
The key levels for the euro / dollar pair on the H1 scale are: 1.1429, 1.1365, 1.1299, 1.1254 and 1.1170. Here, the price drew up the local initial conditions for the top of June 9th. A short-term upward movement is possible in the range of 1.1365 – 1.1429. Price consolidation is near the level of 1.1429.
A short-term downward movement, as well as consolidation are expected in the range of 1.1299 – 1.1254. The breakdown of the last reading will lead to a deeper correction. In this case, the target is 1.1170. This level acts as a key support for the upward structure.
The main trend is the local structure for the top of June 9
Trading recommendations:
- Buy: 1.1365 Take profit: 1.1420
- Buy: Take profit:
- Sell: 1.1299 Take profit: 1.1255
- Sell: 1.1252 Take profit: 1.1180
The key levels for the pound / dollar pair are 1.2845, 1.2777, 1.2685, 1.2626, 1.2566, 1.2515. Here, we follow the ascending structure of May 25th. The continuation of the upward movement is expected after the breakdown of the level of 1.2777. In this case, the target is 1.2845. A short-term upward movement, as well as consolidation are in the range of 1.2845 – 1.2901. For the potential upward level, we consider the level of 1.2974. We expect a downward pullback upon reaching this level.
A short-term downward movement is expected in the range of 1.2685 – 1.2626. The breakdown of the last level will lead to a deeper correction. Here, the target is 1.2566. The range of 1.2566 – 1.2515 is the key support level. The initial conditions for the downward cycle is expected to be formed to the level 1.2515.
The main trend is the local ascending structure of May 25
Trading recommendations:
- Buy: 1.2777 Take profit: 1.2845
- Buy: 1.2845 Take profit: 1.2900
- Sell: 1.2685 Take profit: 1.2628
- Sell: 1.2640 Take profit: 1.2568
The key levels for the dollar / franc pair on the H1 scale are: 0.9582, 0.9539, 0.9518, 0.9476, 0.9443, 0.9423 and 0.9387. Here, we are following the development of the descending structure of June 5th. The continuation of the downward movement is expected after the breakdown of the level of 0.9476. In this case, the target is 0.9443. Price consolidation is in the range of 0.9443 – 0.9423. For the potential value for the bottom, we consider the level of 0.9387. We expect an upward pullback upon reaching this level.
A short-term upward movement is possible in the range of 0.9518 – 0.9539. The breakdown of the latter level will lead to a deeper correction. Here, the target is 0.9582. This is the key support level downwards.
The main trend is the downward cycle of June 5
Trading recommendations:
- Buy : 0.9518 Take profit: 0.9537
- Buy : 0.9541 Take profit: 0.9580
- Sell: 0.9475 Take profit: 0.9443
- Sell: 0.9422 Take profit: 0.9388
The key levels for the dollar / yen pair on the scale are : 108.58, 108.15, 107.88, 107.34, 107.04, 106.64 and 106.07. Here, we are following the development of the descending structure of June 5th. A short-term downward movement is expected in the range of 107.34 – 107.04. The breakdown of the last level will lead to a movement to the level of 106.64. Price consolidation is near this level. For the potential value for the bottom, we consider the level of 106.07. Upon reaching which, we expect an upward pullback.
A short-term upward movement is possible in the range of 107.88 – 108.15. The breakdown of the last value will lead to an in-depth correction. Here, the target is 108.58. This is the key support level downwards.
The main trend: building potential for the bottom of June 5
Trading recommendations:
- Buy: 107.88 Take profit: 108.15
- Buy : 108.17 Take profit: 108.58
- Sell: 107.34 Take profit: 107.06
- Sell: 107.03 Take profit: 106.66
The key levels for the Canadian dollar / US dollar pair on the H1 scale are: 1.3634, 1.3579, 1.3510, 1.3452, 1.3371, 1.3340 and 1.3283. 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 1.3371 – 1.3340. In this case, the potential target is 1.3283, after which we expect consolidation, as well as an upward pullback.
A short-term upward movement is possible in the range of 1.3452 – 1.3510. The breakdown of the last level will lead to the development of a deeper correction. Here, the target is 1.3579. We consider the level 1.3634 to be the potential value for the top, to which we expect the initial conditions to be formed for the upward cycle.
The main trend is the local descending structure of May 29
Trading recommendations:
- Buy: 1.3452 Take profit: 1.3510
- Buy : 1.3512 Take profit: 1.3578
- Sell: 1.3340 Take profit: 1.3285
- Sell: Take profit:
The key levels for the Australian dollar / US dollar pair on the H1 scale are : 0.7132, 0.7073, 0.7011, 0.6941, 0.6901 and 0.6840. 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. After which we expect a downward pullback. However, it is most likely that the reversal to the correction will occur earlier than reaching the potential value, namely from the range 0.7011 – 0.7073.
A short-term downward movement is possible in the range of 0.6941 – 0.6901. The breakdown of the last level will lead to an in-depth correction. Here, the target is 0.6840. This is the key support level 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 : 0.6940 Take profit : 0.6903
- Sell: 0.6900 Take profit: 0.6843
The key levels for the euro / yen pair on the H1 scale are: 123.13, 122.61, 122.21, 121.67, 121.34, 120.52 and 119.94. Here, the price forms a pronounced potential for the downward movement of June 5th. A short-term downward movement is expected in the range of 121.67 – 121.34, The breakdown of the last level should be accompanied by a pronounced downward movement. Here, the target is 120.52. For the potential value for the bottom, we consider the level of 119.94. We expect consolidation, as well as an upward pullback upon reaching this level.
A short-term upward movement is expected in the range of 122.21 – 122.61. The breakdown of the last level will lead to an in-depth correction. Here, the goal is 123.13. This is the key support level for the bottom.
The main trend is the formation of potential for the downward cycle of June 5
Trading recommendations:
- Buy: 122.21 Take profit: 122.60
- Buy: 122.63 Take profit: 123.10
- Sell: 121.67 Take profit: 121.35
- Sell: 121.32 Take profit: 120.55
The key levels for the pound / yen pair are 140.68, 139.60, 138.73, 138.02, 137.48, 136.88, 136.47, 135.65 and 135.05. Here, we are following the development of the descending structure of June 5th. The continuation of the downward movement is expected after the price passes the noise range 136.88 – 136.47. In this case, the target is 135.65. For the potential value for the bottom, we consider the level of 135.05. Upon reaching which, we expect consolidation, as well as an upward pullback.
A short-term upward movement is possible in the range of 137.48 – 138.02. The breakdown of the last level will lead to an in-depth correction. Here, the potential target is 138.70. This level is a key support for the downward structure and its breakdown will lead to the development of the upward movement. In this case, the target is 139.60.
The main trend is the descending structure of June 5
Trading recommendations:
- Buy: 137.48 Take profit: 138.01
- Buy: 138.04 Take profit: 138.70
- Sell: 136.88 Take profit: 136.48
- Sell: 136.44 Take profit: 135.70
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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