Work within the accumulation zone formed last month is the main one. Favorable prices for selling the instrument were received at the end of last week, so holding a short position and new entries in the sale will be the main ones in the first half of this week. The decline target is last week's low.
Work within the accumulation zone involves consolidating sales at the lower boundary and finding favorable prices for the purchase in case of large demand.
Selling from current marks is still profitable, as it enables you to enter a position with a favorable risk-to-profit ratio. Cancellation of the downward model will occur if today's trading closes above the 0.9773 level. This will open the way for the pair to grow in the monthly control zone of May. The probability of a reversal model is 25%, which makes it secondary/support.
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