Today the pair is trading below a two-day low. This indicates the presence of a proposal above current levels. The opening of US trading below the WCZ 1/4 1.3290-1.3286 will enter a short position. The first target of the fall will be the WCZ 1/2 1.3250-1.3243. Medium-term sales potential may grow to a weekly control zone 1.3171-1.3155. This will make it possible to hold part of the position.
Work in the downward direction may become the main one in the second half of the current week and the beginning of the next, so you need to determine the exit points from at different levels.
An alternative model will be developed if the closing of today's trading occurs above the WCZ 1/4. This will indicate continued upward movement. The probability of updating the monthly high will increase to 75%.
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