Outlook on June 22:
Analytical overview of popular currency pairs on the H1 chart:
The key levels for the EUR/USD pair are 1.1976, 1.1924, 1.1892, 1.1834, 1.1807, 1.1766, 1.1741, and 1.1688. The price has been moving in a downward trend since June 9. At present, we expect a short-term decline in the range of 1.1834 - 1.1807. If the latter is broken, strong a movement will continue to the target of 1.1766. After that, the price may consolidate in the 1.1766 - 1.1741 range. The final potential downward target is 1.1688. After reaching it, an upward pullback can be expected.
A short-term growth, in turn, is possible in the range of 1.1892 - 1.1924. If the last value breaks down, a deep correction will occur. The target is set at 1.1976, which is also the key support level.
The main trend is a local downward trend from June 9.
Trading recommendations:
Buy: 1.1894 Take profit: 1.1922
Buy: 1.1926 Take profit: 1.1974
Sell: 1.1833 Take profit: 1.1808
Sell: 1.1806 Take profit: 1.1767
The key levels for the GBP/USD pair are 1.4075, 1.4049, 1.3993, 1.3971, 1.3937, 1.3879, 1.3858, 1.3823 and 1.3784. The price is forming a strong upward potential from June 21. We expect the upward movement to resume after breaking through the level of 1.3937. The target is set at 1.3971 and the price may consolidate in the range of 1.3971 - 1.3993. The price breaking through the last value will lead to the development of strong growth. The target is 1.4049. The ultimate potential upward target is 1.4075. After reaching it, the price may consolidate and pull back downwards.
A short-term decline can be expected in the range of 1.3879 - 1.3858. If the latter breaks down, a deep correction will follow. The potential target is set at 1.3823, which is also the key support level. The breakdown of which will be conducive to the subsequent development of the downward trend. The first target is 1.3784.
The main trend is the downward trend from June 1, deep correction stage.
Trading recommendations:
Buy: 1.3938 Take profit: 1.3971
Buy: 1.3995 Take profit: 1.4049
Sell: 1.3879 Take profit: 1.3859
Sell: 1.3856 Take profit: 1.3825
The key levels for the USD/CHF pair are 0.9238, 0.9192, 0.9167, and 0.9129. We are following the development of the upward trend from June 9. The price is currently near the limit values (0.9238), so a correction is expected. Here, we expect a short-term decline in the range of 0.9192 - 0.9167. If the level of 0.9167 breaks down, a deep correction will occur. The target is set at 0.9129, which is also the key support level.
The main trend is the upward trend from June 9.
Trading recommendations:
Buy: Take profit:
Buy: Take profit:
Sell: 0.9192 Take profit: 0.9168
Sell: 0.9165 Take profit: 0.9132
The key levels for the USD/JPY pair are 111.31, 111.18, 110.86, 110.75, 110.57, 110.25, 110.07, 109.75, 109.62 and 109.30. The price forms a local upward potential from June 21 for the subsequent development of an upward trend. We expect this trend to continue after the level of 110.57 is broken. The target is set at 110.75 and consolidation is around it. If the price breaks through the noise range of 110.75 - 110.86, strong growth will continue to the next target of 111.18. The ultimate potential upward target is 111.31. After reaching it, the price may consolidate and pull back downwards.
Meanwhile, a short-term decline can be expected in the 110.25 - 110.07 range, from which a key upward reversal may occur. In the event that the level of 110.05 breaks down, it will lead to the development of a downward trend. The target is set at 109.75. After that, the price may consolidate in the range of 109.75 - 109.62. The potential downward target is 109.30.
The main trend is the local upward trend from June 21.
Trading recommendations:
Buy: 110.58 Take profit: 110.75
Buy: 110.87 Take profit: 111.18
Sell: 110.25 Take profit: 110.08
Sell: 110.05 Take profit: 109.75
The key levels for the USD/CAD pair are 1.2486, 1.2453, 1.2420, 1.2400, 1.2350, 1.2317, 1.2298, 1.2246 and 1.2222. The price is in the correction from the upward trend on June 1. Now, we expect the downward movement to resume after the level of 1.2350 is broken. The target is set at 1.2317 and price consolidation is near it. If the price breaks through the 1.2317 - 1.229 range, a strong decline will develop. The target is set at 1.2246. The final potential downward target is 1.2222. After reaching it, the price may consolidate and pull back upwards.
On the other hand, short-term growth is likely in the range of 1.2400 - 1.2420. If the latter is broken, a deep correction will occur. The target is set at 1.2453, which is also the key support level. The first potential target is 1.2486.
The main trend is the upward trend from June 1, correction stage.
Trading recommendations:
Buy: 1.2400 Take profit: 1.2420
Buy: 1.2422 Take profit: 1.2453
Sell: 1.2350 Take profit: 1.2318
Sell: 1.2297 Take profit: 1.2250
The key levels for the AUD/USD pair are 0.7595, 0.7549, 0.7528, 0.7479, 0.7462, 0.7441 and 0.7405. The price has been moving in a bearish trend since June 11. In this case, we expect a short-term decline in the range of 0.7479 - 0.7462. If the latter breaks down, it will allow us to move to the level of 0.7441 and the price may consolidate closer to it. The final potential downward target is 0.7405. After reaching it, the price may pull back upwards.
Short-term growth is possible in the range of 0.7528 - 0.7549. If the last value breaks down, a deep correction will occur. The target is set at 0.7595, which is the key support level.
The main trend is the downward trend from June 11, correction stage.
Trading recommendations:
Buy: 0.7528 Take profit: 0.7547
Buy: 0.7552 Take profit: 0.7595
Sell: 0.7479 Take profit: 0.7462
Sell: 0.7460 Take profit: 0.7441
The key levels for the EUR/JPY pair are 132.93, 132.67, 132.09, 131.87, 131.53, 131.13, 130.92, 130.55, and 129.99. The price is in a correction and is forming an upward potential from June 21. We expect growth to resume after the level of 131.55 is broken. The target is set at 131.87 and the price may consolidate near it. If the price breaks through the 131.87 - 132.09 range, strong growth will continue to the target of 132.67. The ultimate potential upward target is 132.93. After reaching it, the price may consolidate and pull back downwards.
In turn, a short-term decline can be expected in the range of 131.13 - 130.92. If the level of 130.92 is broken, a deep correction will occur. The target is set at 130.55, which is also the key support level.
The main trend is the downward trend from June 15, correction stage.
Trading recommendations:
Buy: 131.57 Take profit: 131.87
Buy: 132.10 Take profit: 132.67
Sell: 131.13 Take profit: 130.93
Sell: 130.90 Take profit: 130.57
The key levels for the GBP/JPY pair are 155.98, 155.56, 154.65, 154.30, 153.75, 153.17, 152.82, and 152.26. The price forms a strong potential for the development of an upward cycle. We expect the upward movement to continue after the level of 153.75 is broken. The target is set at 154.30. After that, short-term growth and consolidation are possible in the 154.30 - 154.65 range. The breakdown of the latter will lead to strong growth. The target is 155.56. The final potential upward target is 155.98. After reaching it, price consolidation and a downward pullback can be expected.
A short-term decline is possible in the range of 153.17 - 152.82. If the last value is broken, a deep correction will occur. The target is set at 152.26, which is also the key support level.
The main trend is the downward trend from May 28 and formation of the upward potential from June 21.
Trading recommendations:
Buy: 153.75 Take profit: 154.30
Buy: 154.32 Take profit: 154.65
Sell: 153.17 Take profit: 152.84
Sell: 152.80 Take profit: 152.30
