Today the pair is trading above the WCZ 1/4 0.6710-0.6706. This allows you to consider purchases in the event that the close of trading occurs above the zone. The first goal is the WCZ 1/2 0.6747-0.6740, where the fate of the downward medium-term impulse is determined.
It is important to understand that ongoing growth is corrective. This suggests the need to consolidate part of the purchases at important resistance levels.
To work towards pulling down the pair, it is necessary to absorb the current growth of the Asian session and the opening of European trading below the WCZ 1/4. If this happens, an alternative model will be included in the work, where the first target of the decline will be the zone of the average course of the week.
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