Working at today's session requires holding a short position and open after the test to determine the resistance of the 1/2 WCZ at 108.79-108.70. It is important to understand that the probability of updating the June minimum is 70%. Purchases from current grades are not profitable.
It is important to understand that the entire current month is the formation of an accumulation zone. This imposes some restrictions on trade in the flat framework.
To exit from the flat phase, it will be necessary to close trades in the American session, either above the level of 108.79 or below the June minimum. In this case, it will be possible to talk about a phase change. This will provide an opportunity to withdraw part of the position in the medium-term trend and leave it at breakeven.
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 area formed by marks from the important futures market, which changes several times a year.
Monthly CZ - monthly control zone. The area is a reflection of the average volatility over the past year.
The material has been provided by InstaForex Company - www.instaforex.com