Upward movement makes it possible for you to get favorable prices for selling the tools. The determining resistance is the NKZ 1/2 1.1364-1.1365. As long as the pair is trading below the specified zone, the drop is still an impulse. The target of the downward movement is the weekly short-term fault of 1.1263-1.1245. Achieving this zone will make it possible to consolidate a large part of the profit, and transfer the rest of the position to breakeven.
Yesterday's high can be an excellent price for forming a "false breakdown" pattern. In case of a large offer, the best prices will be received after its renewal.
An alternative model will be developed if the pair can continue to grow, and the closing of the current US session will occur above the level of 1.1374. This movement will indicate a cancellation of the downward option and make it possible to consider purchases tomorrow. The probability of implementing this model is at 30%, which makes it a support.
Daily KZ - 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