Dear colleagues.
For the currency pair euro/dollar, we follow the development of the upward cycle from May 30 and the continuation of the upward movement is expected after the breakdown of 1.1266. For the currency pair pound/dollar, we follow the development of the upward structure from May 31 and we expect the continuation of the upward movement after the breakdown of 1.2727. For the currency pair dollar/franc, we have expanded the potential for downward movement to the level of 0.9840. For the currency pair dollar/yen, the continuation of the downward movement is expected after the breakdown of 107.76 and the level of 108.43 is the key support. For the currency pair euro/yen, the price forms the potential for the top of June 3 and the upward cycle development is expected after the breakdown of 121.98. For the currency pair pound/yen, the price is in the correction zone; the level of 137.83 is the key support for the bottom and the level of 136.52 is the key resistance for the continuation of the main trend.
Forecast for June 5:
Analytical review of H1-scale currency pairs:
For the currency pair euro/dollar, the key levels on the H1 scale are 1.1310, 1.1282, 1.1266, 1.1238, 1.1225, 1.1204 and 1.1182. We continue to follow the development of the upward cycle of May 30. The short-term upward movement is expected in the area of 1.1266 – 1.1282 and the breakdown of the last value will lead to a movement to the potential target – 1.1310, from this level, we expect a rollback to the bottom.
The short-term downward movement is possible in the area of 1.1238 – 1.1225 and the breakdown of the last value will lead to a prolonged correction. The goal is 1.1204 and this level is the key support for the top. Its price will have the formation of the initial conditions for the downward trend. In this case, the potential goal – 1.1182.
The main trend is the upward cycle of May 30.
Trading recommendations:
Buy 1.1266 Take profit: 1.1280
Buy 1.1284 Take profit: 1.1310
Sell: 1.1224 Take profit: 1.1206
Sell: 1.1202 Take profit: 1.1182
For the currency pair pound/dollar, the key levels on the H1 scale are 1.2808, 1.2789, 1.2754, 1.2727, 1.2687, 1.2667 and 1.2633. We follow the development of the upward cycle of May 31. The continuation of the upward movement is expected after the breakdown of 1.2727. In this case, the goal is 1.2754 and near this level is the price consolidation. The breakdown of the level of 1.2755 should be accompanied by a pronounced upward movement. The goal is 1.2808 and in the area of 1.2789 – 1.2808 is the price consolidation, hence, we expect a rollback to the bottom.
The short-term downward movement is possible in the area of 1.2687 – 1.2667 and the breakdown of the latter value will lead to a prolonged correction. The goal is 1.2633 and this level is the key support for the upward structure.
The main trend is the upward cycle of May 31.
Trading recommendations:
Buy: 1.2728 Take profit: 1.2752
Buy: 1.2755 Take profit: 1.2787
Sell: 1.2686 Take profit: 1.2668
Sell: 1.2664 Take profit: 1.2638
For the currency pair dollar/franc, the key levels on the H1 scale are 1.0000, 0.9970, 0.9946, 0.9933, 0.9916, 0.9897, 0.9876 and 0.9840. We follow the development of the downward structure of May 30. The short-term downward movement is expected in the range of 0.9916 – 0.9897 and the breakdown of the last value will lead to the movement to the level – 0.9876, from this level, we expect a rollback to the top. The potential value for the downward structure is the level of 0.9840, the movement to which is possible after the breakdown of 0.9874.
The short-term upward movement is possible in the area of 0.9946 – 0.9970 and the breakdown of the latter value will lead to a prolonged correction. The target is 1.0000 and this level is the key support for the downward structure of May 30.
The main trend is the downward cycle of May 30.
Trading recommendations:
Buy: 0.9948 Take profit: 0.9970
Buy: 0.9972 Take profit: 1.0000
Sell: 0.9915 Take profit: 0.9898
Sell: 0.9895 Take profit: 0.9878
For the currency pair dollar/yen, the key levels on the H1 scale are 108.84, 108.43, 108.18, 107.76, 107.44 and 106.99. We continue to monitor the downward structure of May 30. The short-term downward movement is expected in the area of 107.76 – 107.44 and the breakdown of the last value will lead to the movement to the potential target – 106.99, upon reaching this level, we expect a rollback to the top.
The short-term upward movement is possible in the area of 108.18 – 108.43 and the breakdown of the latter value will lead to an in-depth correction. The goal is 108.84 and this level is the key support for the downward cycle.
The main trend is the local structure for the bottom of May 30.
Trading recommendations:
Buy: 108.18 Take profit: 108.41
Buy: 108.45 Take profit: 108.82
Sell: 107.75 Take profit: 107.45
Sell: 107.42 Take profit: 107.00
For the currency pair Canadian dollar/dollar, the key levels on the H1 scale are 1.3458, 1.3432, 1.3414, 1.3386, 1.3369, 1.3339 and 1.3313. We follow the development of the downward structure of May 31. The continuation of the development of the main trend is expected after the price passes the range of 1.3386 – 1.3369. In this case, the goal is 1.3339. We consider the level of 1.3313 as a potential value for the bottom, after reaching which, we expect to go to the correction zone.
The short-term upward movement is possible in the area of 1.3414 – 1.3432 and the breakdown of the latter value will lead to a prolonged correction. The target is 1.3458 and this level is the key support for the bottom.
The main trend is the downward structure of May 31.
Trading recommendations:
Buy: 1.3415 Take profit: 1.3431
Buy: 1.3433 Take profit: 1.3456
Sell: 1.3368 Take profit: 1.3340
Sell: 1.3337 Take profit: 1.3315
For the currency pair Australian dollar/dollar, the key levels on the H1 scale are 0.7058, 0.7042, 0.7013, 0.7003, 0.6983, 0.6970, 0.6953 and 0.6941. We follow the upward structure of May 23. The continuation of the upward movement is expected after the price passes the range of 0.7003 – 0.7013. In this case, the goal is 0.7042. We consider the level of 0.7058 as a potential value for the top, after reaching which, we expect consolidation, as well as a rollback to the bottom.
The short term downward movement is possible in the range of 0.6983 – 0.6970 and the breakdown of the latter value will lead to a prolonged movement. The target is 0.6953 and the range of 0.6953 – 0.6941 is the key support for the upward structure.
The main trend is the upward structure of May 23.
Trading recommendations:
Buy: 0.7014 Take profit: 0.7040
Buy: 0.7044 Take profit: 0.7058
Sell: 0.6983 Take profit: 0.6971
Sell: 0.6969 Take profit: 0.6955
For the currency pair euro/yen, the key levels on the H1 scale are 122.31, 121.98, 121.71, 121.20, 121.01, 120.56 and 119.98. The price forms the potential for upward movement of June 3 in the correction of the downward structure. The breakdown of the level of 121.71 will lead to the formation of pronounced initial conditions for the top. The goal is 121.98 and the breakdown of this level will lead to the development of an upward trend. In this case, the potential target is 122.31.
The short-term downward movement is expected in the area of 121.20 – 121.01 and the breakdown of the last value will cancel the upward structure from June 3. In this case, we expect the movement to the level of 120.56. We consider the level 119.98 to be a potential value for the bottom, from this level, we expect a rollback to the top.
The main trend is the design of the initial conditions for the upward cycle of June 3.
Trading recommendations:
Buy: 121.71 Take profit: 121.96
Buy: 122.00 Take profit: 122.30
Sell: 121.20 Take profit: 121.03
Sell: 120.98 Take profit: 120.58
For the currency pair pound/yen, the key levels on the H1 scale are 138.39, 137.83, 137.49, 136.52, 135.98, 135.48 and 134.82. The price is still in the correction zone from the downward trend. The continuation of the development of the downward trend of May 21 is expected after the breakdown of 136.50. In this case, the target is 135.98 and the breakdown of which, in turn, will allow us to expect to move to the level of 135.48, consolidation is near this value, and also from here, a high probability of a reversal in the correction. We consider the level of 134.82 as a potential value for the bottom.
The short-term upward movement is expected in the area of 137.49 – 137.83 and the breakdown of the last value will lead to a prolonged correction. The target is 138.39 and the range of 138.39 – 138.76.
The main trend is the local downward structure of May 21, the stage of correction.
Trading recommendations:
Buy: 136.50 Take profit: 136.00
Buy: 135.94 Take profit: 135.50
Sell: 137.46 Take profit: 136.90
Sell: 135.44 Take profit: 134.84
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