If today's repeated test of 1/2 WCZ at 0.9839-0.9819 leads to the formation of a false breakdown pattern, this will make it possible to open a sale. The target of the downward movement remains the weekly control zone of 0.9662-0.9642. The reduction range is large enough, which will allow obtaining a favorable risk to profit ratio.
Since testing of 1/2 WCZ is repeated, this increases the likelihood of a reversal pattern. Purchases from current levels are not profitable. However, fixing above the control zone cancels the downward priority model.
An alternative model will be developed if the closure of today's American session occurs above the 1/2 WCZ. This will open the way for the pair to grow towards the weekly control zone of 0.9951-0.9929 in the second half of the week. It is important to understand that purchases will become profitable only tomorrow after the formation of a reversal pattern.
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