Dear colleagues.
For the EUR / USD pair, the development of the upward structure is expected after the breakdown of 1.1695. For the GBP / USD pair, we monitor the formation of the potential for the top of May 29. For the USD / CHF, the continuation to the bottom is expected after passing through the price range of the noise range at 0.9842 - 0.9826. For the USD / JPY pair, the price is in deep correction from the downward structure. The level of 110.08 is the key resistance for the top. For the EUR / JPY pair, the development of the upward structure of May 29 is expected after the breakdown of 128.16. For the GBP / JPY pair, we follow the development of the upward cycle of May 29.
Forecast for June 4:
Analytical review of currency pairs in the scale of H1:
For the EUR / USD pair, the key levels on the scale of H1 are: 1.1824, 1.1774, 1.1743, 1.1693, 1.1622, 1.1593, 1.1562, 1.1515, 1.1453 and 1.1397. Here, we continue to follow the upward structure of May 30. The continuation of the development of the upward trend is expected after the breakdown of 1.1693. In this case, the target is 1.1743. In the area of 1.1743 - 1.1774 is the consolidation of the price. For the potential value for the top, consider the level of 1.1824. Upon reaching this level, we expect a pullback to the bottom.
Short-term downward movement is possible in the area of 1.1622-1.1593. The breakdown of the last value will lead to in-depth correction. Here, the target is 1.1562. This level is the key support for the upward structure from May 30. Its breakdown will lead to the development of a downward structure. In this case, the first target is 1.1515.
The main trend is the formation of the potential for the top of May 30.
Trading recommendations:
Buy: 1.1695 Take profit: 1.1742
Buy 1.1775 Take profit: 1.1822
Sell: 1.1622 Take profit: 1.1593
Sell: 1.1560 Take profit: 1.1515
For the GBP / USD pair, the key H1 scale levels are 1.3495, 1.3457, 1.3403, 1.3381, 1.3338, 1.3311, 1.3273 and 1.3202. Here, we follow the upward structure of May 29. The continuation of the development of the upward trend is expected after passing the price of the noise range at 1.3381 - 1.3403. In this case, the target is 1.3457. For the potential value for the top, consider the level of 1.3495. Upon reaching this level, we expect a pullback to the bottom.
Short-term downward movement is possible in the area of 1.3338 - 1.3311. The breakdown of the last value will lead to in-depth correction. Here, the target is 1.3273. This level is the key support for the top.
The main trend is the formation of an upward structure from May 29.
Trading recommendations:
Buy: 1.3405 Take profit: 1.3455
Buy: 1.3460 Take profit: 1.3490
Sell: 1.3336 Take profit: 1.3314
Sell: 1.3308 Take profit: 1.3280
For the USD / CHF pair, the key levels on the scale of H1 are: 0.9954, 0.9927, 0.9897, 0.9876, 0.9842, 0.9826, 0.9784 and 0.9754. Here, the subsequent development of the downward structure from May 29 is expected after passing the price of the noise range of 0.9842 - 0.9826. In this case, the target is 0.9784. For the potential value for the bottom, consider the level of 0.9754. Upon reaching this level, we expect a pullback to the top.
Short-term upward trend is possible in the area of 0.9876 - 0.9897. The breakdown of the last value will lead to in-depth correction. Here, the target is 0.9927. This level is the key support for the downward structure. Its breakdown will allow us to count on the movement towards 0.9954.
The main trend is a local downward structure from May 29.
Trading recommendations:
Buy: 0.9876 Take profit: 0.9895
Buy: 0.9898 Take profit: 0.9925
Sell: 0.9826 Take profit: 0.9786
Sell: 0.9782 Take profit: 0.9755
For the USD / JPY pair, the key levels on a scale are: 110.92, 110.69, 110.08, 109.13, 108.77, 108.14, 107.64, 106.99 and 106.58. Here, the price is in deep correction from the downward structure on May 21. The development of the upward movement is expected after the breakdown of 110.08. In this case, the first target is 110.69. In the area of 110.69 - 110.92 is the consolidation of the price.
Short-term upward movement is possible in the area of 109.13 - 108.77, hence the probability of a turn to the top is high. The level breakdown of the level of 108.75 caused the continuation of the development of a downward trend. In this case, the first potential target is 108.14.
The main trend is a downward structure from May 21, a stage of deep correction.
Trading recommendations:
Buy: 110.10 Take profit: 110.66
Buy: Take profit:
Sell: 109.12 Take profit: 108.80
Sell: 108.70 Take profit: 108.20
For the CAD / USD pair, the key levels on the H1 scale are: 1.3204, 1.3159, 1.3093, 1.3012, 1.2960, 1.2922, 1.2825, 1.2758, 1.2674 and 1.2621. Here, we follow the upward structure of May 22. At the moment, the price is in deep correction from this structure and forms the potential for the bottom of May 29. Consolidated movement is expected in the area of 1.2922 - 1.2960. The breakdown of the last value will lead to a movement towards the level of 1.3012. This level is the key resistance for the subsequent development of the upward trend.
The development of a downward trend from May 29 is expected after the breakdown of 1.2825. Here, the first target is 1.2758. Near this level is the consolidation of the price. The breakdown of 1.2755 should be accompanied by a pronounced movement towards the potential value of 1.2674.
The main trend is the rising from May 22, a deep correction.
Trading recommendations:
Buy: 1.2960 Take profit: 1.3012
Buy: 1.3014 Take profit: 1.3090
Sell: 1.2825 Take profit: 1.2760
Sell: 1.2755 Take profit: 1.2680
For the AUD / USD pair, the key levels on the scale of H1 are: 0.7713, 0.7678, 0.7661, 0.7632, 0.7612, 0.7543, 0.7525, 0.7505 and 0.7474. Here, the price forms the potential for the upward movement of May 30. Short-term upward movement is expected in the area of 0.7612 - 0.7632. The breakdown of the last value should be accompanied by a pronounced movement towards the level of 0.7678. Upon reaching this level, we expect consolidation in the area of 0.7678 - 0.7661. For the potential value for the top, consider the level of 0.7713. From this level, we expect a pullback to the bottom.
Short-term downward movement is possible in the area of 0.7543 - 0.7525. The breakdown of the last value will lead to in-depth correction. Here, the target is 0.7505. This level is the key support for the upward structure. Its breakdown will lead to a downward movement. In this case, the target is 0.7474.
The main trend is the formation of the potential for the top of May 30.
Trading recommendations:
Buy: 0.7612 Take profit: 0.7630
Buy: 0.7634 Take profit: 0.7660
Sell: 0.7541 Take profit: 0.7526
Sell: 0.7505 Take profit: 0.7478
For the EUR / JPY pair, the key levels on the scale of H1 are: 131.40, 129.85, 129.22, 128.16, 127.52, 126.22, 125.53, 124.59 and 123.17. Here, we follow the downward structure from May 22. At the moment, the price is in correction and forms a small potential for the top. The continuation of the movement towards the top is expected after passing the price of the noise range of 127.52 - 128.16. In this case, the target is 129.22. In the area of 129.22 - 129.85 is the consolidation of the price. For the potential value for the top, consider the level of 131.40. Upon reaching this level, we expect a pullback to the bottom.
Short-term downward movement is possible in the area of 126.22 - 125.53, hence the probability of a turn to the top is high. The breakdown of the level of 125.50 will lead to the development of a downward structure. Here, the first target is 124.59. For the potential value for the bottom, consider the level of 123.17.
The main trend is the downward structure from May 22, the correction stage.
Trading recommendations:
Buy: 128.16 Take profit: 129.20
Buy: 129.85 Take profit: 131.40
Sell: 126.20 Take profit: 125.55
Sell: 125.50 Take profit: 124.60
For the GBP / JPY pair, the key levels on the scale of H1 are: 148.79, 147.96, 147.50, 146.89, 146.09, 145.64 and 145.01. Here, we follow the development of the upward cycle of May 29. The continuation of the movement towards the top is expected after the breakdown of 146.90. In this case, the target is 147.50. In the area of 147.50 - 147.96 is the consolidation of the price. For the potential value for the top, consider the level of 148.79. From this level, we expect a pullback to the bottom.
Short-term downward movement is possible in the area of 146.09 - 145.64. The breakdown of the last value will lead to in-depth correction. Here, the target is 145.01. This level is the key support for the top.
The main trend is the upward cycle from May 29.
Trading recommendations:
Buy: 146.90 Take profit: 147.50
Buy: 148.00 Take profit: 148.75
Sell: 146.04 Take profit: 145.66
Sell: 145.60 Take profit: 145.12
