Fractal analysis of main currency pairs on June 23, 2020

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For the euro/dollar pair, the price forms expressed initial conditions for the top of June 22. The level of 1.1212 is the key support. For the pound/dollar pair, the price also forms the potential for the top of June 22. The level of 1.2388 is the key support. For the dollar/franc pair, the price is in equilibrium. The level of 0.9462 is the key resistance for the downward movement. For the dollar/yen pair, the price is in equilibrium. For the euro/yen pair, we continue to monitor the local structure from June 16. The level of 120.22 is the key support. For the pound/yen pair, the price forms the initial conditions for the top of June 22. The level of 134.40 is the key resistance, while the level of 132.69 is the key support.

Outlook for June 23:

Analytical review of currency pairs on the scale of H1:

The key levels for the euro / dollar pair on the H1 scale are: 1.1397, 1.1368, 1.1324, 1.1286, 1.1238, 1.1212 and 1.1168. Here, the price forms expressed initial conditions for the top of June 22. Further upward movement is expected after the breakdown of the level of 1.1286. In this case, the target is 1.1324. Price consolidation is near this level. The breakdown of the level of 1.1325 will lead to a pronounced movement. Here, the goal is 1.1368. We consider the level of 1.1397 to be a potential value for the top. We expect consolidation, as well as a downward pullback upon reaching which.

A short-term downward movement is possible in the range of 1.1238 – 1.1212. The breakdown of the last level will lead to the development of a downward structure. In this case, the target is 1.1168. We expect the formation of a local potential for the bottom to this level.

The main trend is the formation of initial conditions for the top of June 22

Trading recommendations:

Buy: 1.1286 Take profit: 1.1322

Buy: 1.1326 Take profit: 1.1368

Sell: 1.1238 Take profit: 1.1213

Sell: 1.1210 Take profit: 1.1170

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The key levels for the pound / dollar pair on the H1 scale are: 1.2745, 1.2684, 1.2638, 1.2572, 1.2517, 1.2419, 1.2388 and 1.2334. Here, the price forms the initial conditions for the top of June 22. Further upward movement is expected after the breakdown of the level of 1.2517. In this case, the target is 1.2572. Price consolidation is near this level. The breakdown of the level of 1.2572 will lead to a pronounced upward movement. In this case, the target is 1.2638. Price consolidation is in the range of 1.2638 – 1.2684. A potential value for the top is considered to be the level of 1.2745. We expect a downward pullback upon reaching which.

A short-term downward movement is expected in the range 1.2419 – 1.2388. The breakdown of the last level will lead to the development of a downward movement. Here, the first goal is 1.2334.

The main trend is the formation of initial conditions for the top of June 22

Trading recommendations:

Buy: 1.2517 Take profit: 1.2570

Buy: 1.2573 Take profit: 1.2638

Sell: 1.2388 Take profit: 1.2335

Sell: Take profit:

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The key levels for the dollar / franc pair on the H1 scale are: 0.9687, 0.9618, 0.9561, 0.9488, 0.9462, 0.9416 and 0.9373. Here the price has entered an equilibrium state. Further upward movement is expected after the breakdown of the level of 0.9561. In this case, the target is 0.9618. Price consolidation is near this level. The breakdown of the level of 0.9618 will lead to a pronounced movement to the potential target – 0.9687. We expect a downward pullback from this level.

A consolidated movement is expected in the range of 0.9488 – 0.9462. The breakdown of the last level will lead to a deeper movement. Here, the target is 0.9416. This is the key support level for the top.

The main trend is the equilibrium state.

Trading recommendations:

Buy : 0.9561 Take profit: 0.9615

Buy : 0.9620 Take profit: 0.9685

Sell: 0.9460 Take profit: 0.9418

Sell: 0.9414 Take profit: 0.9375

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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 the price is in equilibrium. Further downward movement is expected after a 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 which.

A short-term upward movement is possible in the range 107.34 – 107.67. The breakdown of the last value 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 of 108.15 – 108.39.

The main trend is the equilibrium state.

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

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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 is in equilibrium. Further upward movement is expected after the breakdown of the level of 1.3683. In this case, the target is 1.3737. Price consolidation is near this level. The price passing the noise range 1.3737 – 1.3779 should be accompanied by a pronounced upward movement. Here, the target is 1.3889. We consider the level 1.3967 to be a potential value for the top. We expect a downward pullback upon reaching which.

A consolidated 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 goal is 1.3452. This is a key support level for the top and its breakdown will allow you to count on movement to the level of 1.3371.

The main trend is the equilibrium state.

Trading recommendations:

Buy: 1.3683 Take profit: 1.3737

Buy : 1.3780 Take profit: 1.3888

Sell: 1.3508 Take profit: 1.3452

Sell: 1.3450 Take profit: 1.3371

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The key levels for the Australian dollar / US dollar pair on the H1 scale are : 0.7052, 0.6990, 0.6941, 0.6849, 0.6789, 0.6741, 0.6705. 0.6613 and 0.6549. Here the price is in equilibrium. The resumption of the development of the downward trend is possible after the breakdown of the level of 0.6849. Here, the first goal is 0.6789. The breakdown of which, in turn, will allow us to rely on the movement to 0.6741. The price passing the noise range 0.6741 – 0.6705 will lead to a pronounced downward movement. Here, the target is 0.6613. For the potential value for the downward trend, we consider the level of 0.6549. We expect an upward pullback upon reaching which.

We expect a short-term upward movement in the range of 0.6941 – 0.6990. The breakdown of the level of 0.6990 will lead to the cancellation of the downward trend. In this case, the first target is 0.7052.

The main trend is the equilibrium state.

Trading recommendations:

Buy: 0.6941 Take profit: 0.6988

Buy: 0.6992 Take profit: 0.7050

Sell : 0.6849 Take profit : 0.6790

Sell: 0.6787 Take profit: 0.6741

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The key levels for the euro / yen pair on the H1 scale are: 122.40, 121.93, 121.57, 121.08, 120.28, 119.94 and 119.29. Here, the price forms expressed initial conditions for the top of June 22. Further upward movement is expected after the breakdown of the level of 121.08. In this case the target is 121.57. Short-term upward movement, as well as consolidation are in the range of 121.57 – 121.93. For the potential value for the top, we consider the level of 122.40. We expect a downward pullback upon reaching which.

A short-term downward movement is possible in the range of 120.28 – 119.94. The breakdown of the last level will lead to the development of a downward trend. In this case, the target is 119.29. Price consolidation is near this level.

The main trend is the formation of initial conditions for the top of June 22

Trading recommendations:

Buy: 121.08 Take profit: 121.57

Buy: 121.59 Take profit: 121.91

Sell: 120.28 Take profit: 119.95

Sell: 119.92 Take profit: 119.31

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The key levels for the pound / yen pair on the H1 scale are : 136.35, 135.65, 135.15, 134.40, 133.86, 133.15, 132.69, 132.17 and 131.71. Here, the price forms the potential for the top of June 22. A short-term upward movement is expected in the range of 133.86 – 134.40. The breakdown of the last level will lead to a pronounced upward movement. Here, the target is 135.15. Price consolidation is in the range of 135.15 – 135.65. We consider the level 136.35 to be a potential value for the top. We expect a downward pullback upon reaching this level.

A short-term downward movement is possible in the range 133.15 – 132.69. The breakdown of the last value will lead to a deeper correction. Here, the goal is 132.17. This is the key support level for the top.

The main trend is the formation of initial conditions for the upward cycle of June 22

Trading recommendations:

Buy: 133.86 Take profit: 134.40

Buy: 134.44 Take profit: 135.15

Sell: 133.15 Take profit: 132.70

Sell: 132.66 Take profit: 132.17

The material has been provided by InstaForex Company – www.instaforex.com

Source:: Fractal analysis of main currency pairs on June 23rd

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