Yesterday, the pair did not reach the weekly CZ 1.3138-1.3119, which is the target of the downward impulse. This indicates a high probability of the appearance of a sentence in one of the significant zones of resistance. The NKZ 1/4 1.3203-1.3198 test is currently underway. The main resistance is NKZ 1/2 1.3259-1.3248, the test of which will indicate further priority. If the pair continues to trade below this zone, the pair will continue to fall, and the probability of a renewal of the low will remain above 70%.
It is important to note that the NKZ 1/2 coincides with the area of the latest important sales of the instrument. In this range, an increase in the number of limit orders was observed, which could become a support for new sales of the instrument.
An alternative model will be developed if the pair can break through and consolidate above the level of 1.3259 during today's US session. This will make it possible to consider buying for tomorrow. Work towards growth will be carried out within the framework of the medium-term accumulation zone. This implies a partial consolidation of purchases at the upper boundary with the transfer of the rest to breakeven.
Day short - daily control zone. The zone formed by important data from the futures market, which change several times a year.
Weekly KZ - weekly control zone. The zone formed by the important marks of the futures market, which change 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