The previous week's movement was quite difficult, especially at the equator. The close of trading indicates a downward priority, which makes it possible to keep a portion of sales or open new ones in the event that a downward movement continues.
On Friday, the pair tested a defining resistance zone, which made it possible to get favorable prices for selling the instrument. The first target of the decline is the low of last week. Further goals can be defined as NCH 1/2 1.2628-1.2613. The movement of the instrument goes against the other majors, but there are reasons for this. Given the current situation, you should not count on the correlation of these tools. It is important to note that the margin will be changed on Monday, so it is necessary to rebuild all the unprocessed zones.
Work in the downward direction is a priority, but it is necessary to understand that this fact is artificially formed. This may indicate a sharp change in the dynamics of the medium-term flat. Such moments happen in the modern market. If you are not an experienced trader, it is better to refrain from working on this tool.
The reversal pattern will be developed if the pair resumes growth, and the US session needs to close above the level of 1.2867. This will indicate the continuation of the formation of a long-term accumulation zone, where the main goal will be the November high. This model has a probability of implementation of 30%, which makes it impossible to buy from the current levels and requires certain conditions.
Daily KZ - daily control zone. The zone formed by important data from the futures market, which changes several times a year.
Weekly KZ - weekly control zone. The zone formed by the important marks of the futures market, which changes several times a year.
Monthly KZ - monthly control zone. The zone, which is a reflection of the average volatility over the past year.
The material has been provided by InstaForex Company - www.instaforex.com