Fractal analysis of main currency pairs on June 12th

For the euro/dollar pair, the price forms a potential for a downward movement on June 10. The level of 1.1361 is the key support. For the pound/dollar pair, we are following the development of the downward structure of June 10. The level of 1.2505 is the key resistance. For the dollar/franc pair, the price is in correction from the downward structure of June 5. The level of 0.9476 is the key support for the bottom. For the dollar/yen pair, we continue to monitor the descending structure of June 5. The level of 106.64 is the key resistance for the bottom. For the euro/yen pair, the continued development of the downward structure from June 5 is expected after the breakdown of the level of 120.52. The level of 121.76 is the key support. For the pound/yen pair, we are following the development of the downward cycle of June 5. The level of 135.65 is the key support.

Forecast for June 12:

Analytical review of currency pairs on the scale of H1:

The key levels for the euro / dollar pair on the H1 scale are: 1.1457, 1.1408, 1.1361, 1.1326, 1.1267, 1.1227, 1.1170, 1.1141 and 1.1090. Here, the price forms the potential for the downward movement of June 10. A short-term downward movement is expected in the range of 1.1267 – 1.1227. The breakdown of the last level will lead to a pronounced movement. Here, the target is 1.1170. Short-term downward movement, as well as consolidation are in the range of 1.1170 – 1.1141. We consider the level 1.1090 to be a potential value for the top. We expect an upward pullback upon reaching this level.

A short-term upward movement is possible in the range 1.1326 – 1.1361. The breakdown of the last level will lead to the formation of an ascending structure. Here, the first goal is 1.1408. We consider the level of 1.1457 for the potential value for the top.

The main trend is the formation of potential for the downward movement of June 10

Trading recommendations:

Buy: 1.1326 Take profit: 1.1359

Buy: 1.1362 Take profit: 1.1408

Sell: 1.1267 Take profit: 1.1230

Sell: 1.1225 Take profit: 1.1170

Exchange Rates 12.06.2020 analysis

The key levels for the pound / dollar pair on the H1 scale are: 1.2727, 1.2668, 1.2620, 1.2547, 1.2505, 1.2451, 1.2419 and 1.2352. Here, we are following the development of the descending structure of June 10. A short-term downward movement in the range 1.2547 – 1.2505 is expected. The breakdown of the last level should be accompanied by a pronounced downward movement. Here, the target is 1.2451. Price consolidation is in the range of 1.2451 – 1.2419. For the potential value for the bottom, we consider the level of 1.2352. We expect an upward pullback upon reaching this level.

A short-term upward movement in the range of 1.2620 – 1.2668 is expected. The breakdown of the last level will lead to a deeper correction. Here, the target is 1.2727. This level is a key support for the top.

The main trend is the descending structure of June 10

Trading recommendations:

Buy: 1.2620 Take profit: 1.2666

Buy: 1.2670 Take profit: 1.2727

Sell: 1.2547 Take profit: 1.2507

Sell: 1.2503 Take profit: 1.2451

Exchange Rates 12.06.2020 analysis

The key levels for the dollar / franc pair on the H1 scale are: 0.9539, 0.9518, 0.9476, 0.9443, 0.9387, 0.9535 and 0.9322. Here, we are following the development of the descending structure of June 5. We expect further downward movement after the breakdown of the level of 0.9387. In this case, the target is 0.9353. There is a high probability of a reversal to correction from this level. For the potential value for the bottom, the level of 0.9322 can be considered. We expect a pullback upon reaching this level.

A short-term upward movement in the range 0.9443 – 0.9476 is expected. The breakdown of the last level will lead to a deeper movement. Here, the target is 0.9518. We expect the design of expressed initial conditions for the upward cycle before the noise range of 0.9518 – 0.9539.

The main trend is the downward cycle of June 5

Trading recommendations:

Buy : 0.9443 Take profit: 0.9474

Buy : 0.9478 Take profit: 0.9518

Sell: 0.9385 Take profit: 0.9355

Sell: 0.9350 Take profit: 0.9322

Exchange Rates 12.06.2020 analysis

The key levels for the dollar / yen pair on the scale are : 108.39, 108.15, 107.67, 107.34, 106.64, 106.07, 105.78 and 105.08. 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 106.64. In this case, the target is 106.07. A short-term downward movement, as well as consolidation are in the range of 106.07 – 105.78. We consider the level of 105.08 to be a potential value for the downward trend. We expect an upward pullback upon reaching this level.

A short-term upward movement is possible in the range of 107.34 – 107.67. The breakdown of the last level will lead to a deeper correction. Here, the target is 108.15. We expect the initial conditions for the upward cycle to be formed before the noise range 108.15 – 108.39.

The main trend is the downward cycle of June 5

Trading recommendations:

Buy: 107.35 Take profit: 107.66

Buy : 107.69 Take profit: 108.15

Sell: 106.64 Take profit: 106.07

Sell: 105.76 Take profit: 105.10

Exchange Rates 12.06.2020 analysis

The key levels for the Canadian dollar / US dollar pair on the H1 scale are: 1.3967, 1.3889, 1.3779, 1.3737, 1.3683, 1.3560, 1.3510 and 1.3452. Here, the price forms the expressed initial conditions for the top of June 10. We expect further upward movement after the breakdown of the level of 1.3683. In this case, the target is 1.3737. Price consolidation is near this level. The passage at the price of the noise range 1.3737 – 1.3779 should be accompanied by a pronounced upward movement. Here, the target is 1.3889. For the potential value for the top, the level of 1.3967 can be considered. We expect a downward pullback upon reaching this level.

A short-term downward movement is possible in the range of 1.3560 – 1.3510. The breakdown of the last level will lead to the development of a deeper correction. Here, the target is 1.3452. This level is a key support for the top.

The main trend is the formation of initial conditions for the top of June 10

Trading recommendations:

Buy: 1.3683 Take profit: 1.3737

Buy : 1.3780 Take profit: 1.3888

Sell: 1.3560 Take profit: 1.3513

Sell: 1.3508 Take profit: 1.3452

Exchange Rates 12.06.2020 analysis

The key levels for the Australian dollar / US dollar pair on the H1 scale are : 0.6990, 0.6941, 0.6901, 0.6789, 0.6741, 0.6705. 0.6613 and 0.6549. Here the price forms expressed initial conditions for the downward cycle of June 10. The continuation of the downward movement is possible after the breakdown of the level of 0.6789. In this case, the target is 0.6741. Price consolidation is near this level. The price overcoming the noise range 0.6741 – 0.6705 will lead to a pronounced downward movement. Here, the target is 0.6613. The level of 0.6549 can be considered as a potential value for the downward trend. We expect an upward pullback upon reaching this level.

A short-term upward movement is possible in the range of 0.6901 – 0.6941. The breakdown of the last level will lead to a deeper correction. Here, the target is 0.6990. This level is a key support for the bottom.

The main trend is the descending structure of June 10

Trading recommendations:

Buy: 0.6901 Take profit: 0.6940

Buy: 0.6943 Take profit: 0.6990

Sell : 0.6789 Take profit : 0.6741

Sell: 0.6705 Take profit: 0.6615

Exchange Rates 12.06.2020 analysis

The key levels for the euro / yen pair on the H1 scale are: 122.39, 121.76, 121.34, 120.52, 119.94, 119.13 and 118.68. Here, we follow the descending structure of June 5. A short-term downward movement is expected in the range of 120.52 – 119.94. The breakdown of the last level will lead to a pronounced downward movement. In this case, the target is 119.13. For the potential value for the bottom, the level of 118.68 can be considered. We expect consolidation, as well as an upward pullback upon reaching this level.

A short-term upward movement in the range of 121.34 – 121.76 can be considered. The breakdown of the last level will lead to a deeper correction. Here, the target is 122.39. This is the key support level for the bottom.

The main trend is the downward cycle of June 5

Trading recommendations:

Buy: 121.34 Take profit: 121.72

Buy: 121.77 Take profit: 122.39

Sell: 120.52 Take profit: 119.96

Sell: 119.92 Take profit: 119.13

Exchange Rates 12.06.2020 analysis

The key levels for the pound / yen pair on the H1 scale are : 136.90, 136.45, 135.65, 135.05, 134.36, 133.81 and 132.81. Here, we follow the development of the descending structure of June 5. A short-term downward movement in the range 134.36 – 133.81 is expected. The breakdown of the last level will allow us to count on movement to a potential target – 132.81. And when this level is reached, we expect an upward pullback.

A short-term upward movement is possible in the range 135.05 – 135.65. The breakdown of the last level will lead to a deeper correction. Here, the potential target is 136.45. We expect the expressed initial conditions to formulate for the upward cycle before the noise range of 136.45 – 136.90.

The main trend is the descending structure of June 5

Trading recommendations:

Buy: 135.05 Take profit: 135.65

Buy: 135.70 Take profit: 136.45

Sell: 134.36 Take profit: 133.83

Sell: 133.78 Take profit: 132.81

Source: Fractal analysis of main currency pairs on June 12th

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