Today's movement in the Asian session has already exceeded the average daily rate, which indicates a high probability of a fall to stop. It is important to understand that any growth will be corrective. Therefore, it is necessary to look again for favorable prices for the sale of the instrument. The first goal of the fall is a weekly minimum, testing of which will require partial fixation of a short position.
The next reduction target will be the 1/2 WCZ of 0.6844-0.6837, formed from the previous control zone. Achieving this zone will allow you to completely close sales and expect further developments.
An alternative model will be developed if the closure of today's US session occurs above the Asian maximum. This will indicate the appearance of a large buyer and a possible trend change to an upward one. The probability of implementing this model is 30%, which makes it auxiliary. Purchases from the current rates are not profitable.
Daily CZ - daily control zone. The area formed by important data from the futures market, which changes several times a year.
Weekly CZ - weekly control zone. The area formed by marks from the important futures market, which changes several times a year.
Monthly CZ - monthly control zone. The area is a reflection of the average volatility over the past year.
The material has been provided by InstaForex Company - www.instaforex.com