Outlook on June 18:
Analytical overview of popular currency pairs on the H1 chart:
The key levels for the EUR/USD pair are 1.1997, 1.1958, 1.1931, 1.1892, 1.1834, and 1.1807. The price has been moving in a downward trend since June 9. We expect this trend to continue after the level of 1.1892 is broken. The target is set at 1.1834. The final potential downward target is 1.1807. After reaching it, the price may consolidate and pull back upwards.
A short-term growth, in turn, can be expected in the range of 1.1931 - 1.1958. If the latter breaks down, a deep correction will develop. The target is set at 1.1997, which is the key support level.
The main trend is the local downward trend from June 9.
Trading recommendations:
Buy: 1.1931 Take profit: 1.1957
Buy: 1.1960 Take profit: 1.1995
Sell: 1.1890 Take profit: 1.1840
Sell: 1.1833 Take profit: 1.1808
The key levels for the GBP/USD pair are 1.4008, 1.3985, 1.3952, 1.3867, 1.3922, 1.3831, 1.3804, and 1.3760. The price has been moving in a bearish trend since June 1. We expect the main trend to further develop after the level of 1.3867 breaks down. The target is set at 1.3831. After that, a short-term decline and price consolidation can be expected in the range of 1.3831 - 1.3804. The ultimate potential downward target is 1.3760. After reaching it, an upward pullback can be expected.
Short-term growth is possible in the range of 1.3922 - 1.3952. If the last value breaks down, it will lead to a deep correction. The potential target is seen at 1.3985. We expect the initial conditions for the upward cycle to be formed before going to the noise range of 1.3985 - 1.4008.
The main trend is the downward trend from June 1.
Trading recommendations:
Buy: 1.3922 Take profit: 1.3950
Buy: 1.3954 Take profit: 1.3985
Sell: 1.3867 Take profit: 1.3831
Sell: 1.3830 Take profit: 1.3805
The key levels for the USD/CHF pair are 0.9238, 0.9207, 0.9192, 0.9154, 0.9121 and 0.9100. The price has been moving in an upward trend since June 9. We expect this trend to resume after the price breaks through the noise range of 0.9192 - 0.9207. The target is set at 0.9238. After reaching it, a price consolidation and withdrawal into a correction can be expected.
The corrective movement from the upward trend on June 9 is likely to develop after the level of 0.9154 is broken. The target is set at 0.9121 and the key support is in the range of 0.9121 - 0.9100.
The main trend is the upward trend from June 9.
Trading recommendations:
Buy: 0.9207 Take profit: 0.9238
Buy: Take profit:
Sell: 0.9154 Take profit: 0.9123
Sell: 0.9119 Take profit: 0.9100
The key levels for the USD/JPY pair are 111.55, 111.34, 111.21, 110.91, 110.76, 110.47, 110.00, 109.90, 109.67 and 109.55. The price is following the development of the local upward trend from June 7. We expect the growth to continue after the breakdown of 110.47. The first target is set at 110.76. After that, short-term growth is possible in the 110.76 - 110.91 range. If the latter is broken, strong growth will continue to the next target of 111.21. The price may consolidate in the range of 111.21 - 111.34. The final potential upward target is 111.55. After reaching it, the price may pull back downwards.
The key upward support is the range of 110.00 - 109.90. The price breaking through it will encourage the development of a downward trend. The target is set at 109.67. The price may consolidate in the range of 109.67 - 109.55.
The main trend is the local upward trend from June 7, deep correction stage.
Trading recommendations:
Buy: 110.47 Take profit: 110.76
Buy: 110.92 Take profit: 111.20
Sell: 109.90 Take profit: 109.70
Sell: 109.67 Take profit: 109.55
The key levels for the USD/CAD pair are 1.2484, 1.2439, 1.2413, 1.2389, 1.2334, 1.2303, and 1.2252. The price has been moving in a bullish trend since June 1. Now, we expect a short-term growth in the 1.2389 - 1.2413 range. If the last value is broken, it will allow us to move to the level of 1.2439. The breakdown of which will lead to a movement to a potential target of 1.2484, wherein a downward pullback is possible.
Meanwhile, a short-term decline can be expected in the range of 1.2334 - 1.2303. If the latter breaks down, a deep correction will follow. The target is set at 1.2252, which is the key support level.
The main trend is the upward trend from June 1.
Trading recommendations:
Buy: 1.2389 Take profit: 1.2413
Buy: 1.2415 Take profit: 1.2439
Sell: 1.2334 Take profit: 1.2305
Sell: 1.2301 Take profit: 1.2260
The key levels for the AUD/USD pair are 0.7608, 0.7595, 0.7567, 0.7549, 0.7509, 0.7488, 0.7458 and 0.7441. H The price has been moving in a bearish trend since June 11. At the moment, we expect a short-term decline in the range of 0.7509 - 0.7488. If the last value is broken, a strong decline will continue to the potential target of 0.7441. After reaching it, consolidation in the range of 0.7441 - 0.7458 and a correction should be expected.
Short-term growth is possible in the range of 0.7549 - 0.7567. If the last value is broken, a deep correction will occur. The target is set at 0.7595. The key support for the decline is the range of 0.7595 - 0.7608.
The main trend is the downward trend from June 11.
Trading recommendations:
Buy: 0.7550 Take profit: 0.7565
Buy: 0.7570 Take profit: 0.7595
Sell: 0.7509 Take profit: 0.7490
Sell: 0.7485 Take profit: 0.7460
The key levels for the EUR/JPY pair are 131.99, 131.67, 131.47, 130.93, 130.47, 130.26, and 129.94. The price has been moving in a downward trend since June 15. We expect this trend to resume after the level of 130.93 is broken. The target is set at 130.47. After that, a short-term decline and price consolidation can be expected in the 130.47 - 130.26 range. The ultimate potential downward target is 129.94. After reaching it, the price may pull back upwards.
Alternatively, a short-term upward movement is expected in the range of 131.47 - 131.67. If the last value is broken, a deep correction will occur. The target is set at 131.99, which is also the key support level.
The main trend is the downward trend from June 15.
Trading recommendations:
Buy: 131.47 Take profit: 131.65
Buy: 131.68 Take profit: 131.99
Sell: 130.91 Take profit: 130.48
Sell: 130.46 Take profit: 130.27
The key levels for the GBP/JPY pair are 154.07, 153.90, 153.53, 153.21, 152.82, 152.35, 152.08, 152.72, and 151.48. We expect the main downward trend from May 28 to resume after the level of 152.82 is broken. The target is set at 152.35. After that, the price may consolidate in the range of 152.35 - 152.08. If the latter is broken, the movement will continue to the level of 151.48. After reaching it, the price may consolidate in the range of 151.72 - 151.48 and pull back upwards.
In turn, short-term growth is possible in the range of 153.21 - 153.53. If the level of 153.53 is broken, a deep correction will occur. The target is set at 153.90. We expect the initial conditions for the upward cycle to be formed before the noise range 153.90 - 154.07.
The main trend is the downward trend from May 28, correction stage.
Trading recommendations:
Buy: 153.21 Take profit: 153.51
Buy: 153.55 Take profit: 153.90
Sell: 152.80 Take profit: 152.35
Sell: 152.08 Take profit: 151.72
