Last week, the pair tested the WCZ 1/2 1.1281-1.1273 once again. This allowed us to enter into a short position. The potential reduction is 88 points to the first goal, which is the minimum of last week. The further decrease will depend on the reaction to the weekly extremum.
The main goal after passing the weekly minimum will be the WCZ 1/2 1.1155-1.1148, formed from the previous week's CZ.
To continue the work within the medium-term flat, demand will be required after the retest of last week's minimum. This will allow you to buy the tool to return to the top of the WCZ 1/2. Work within flat means partial commit when reaching the range limits and break-even the rest position.
Daily CZ - daily control zone. The area formed by important data from the futures market, which change several times a year.
Weekly CZ - weekly control zone. The zone formed by important marks of the futures market, which change several times a year.
Monthly CZ - 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