The upward corrective movement remains a priority, since there has not been a return to the monthly CZ of December. The main target of growth is the level of 0.9757. WCZ 1/2 0.9774-0.9763 and the range of the average weekly move are located slightly above this mark. If today the pair is testing these marks, then it is likely that the offer will increase and a false breakout pattern will form.
The current growth is only a small correction from a medium-term point of view. Keeping the price below WCZ 1/2 will indicate continued interest in the strengthening of the Swiss franc by the national bank.
An alternative growth model will be developed if the close of trading this week occurs above the WCZ 1/2. This will open the way for the further weakening of the franc in the medium term. The probability of implementing this model is 30%, so it should be considered as an auxiliary one.
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 zone formed by important marks of the futures market, which changes 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