Today, the pair is trading within the WCZ 1/2 1.1911-1.1901. Opening the European session below this zone and closing the US session with it will allow us to consider sales up to the weekly control zone of 1.1811-1.1791 in the second half of this week.
It is important to note that yesterday, a false breakout pattern formed on the monthly high. If the fall develops, the downward movement may become the main one in the first half of September.
To resume the upward movement, you will need to close today's trading above the WCZ 1/2. This will open the way for updating the monthly high. Working in an upward direction is stll a priority as long as the daily trade closes above the 1.1901 level.
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