Since the closing of last week's trading occurred above the WCZ 1/2 0.9925-0.9914. The downward momentum can be considered complete. The new phase gives you the opportunity to enter a long position. Today's support is the WCZ 1/4 0.9890-0.9885. The zone is within the average daytime running, so it is a great place to look for a point of entry to purchase.
Work within the upward impulse may require a deeper correction. In this case, a local accumulation zone will be formed.
The second option, which is a time-stretched entry to purchases, is the test of WCZ 1/2 0.9835-0.9825. One day will not be enough for such a fall, so a decline to the specified zone should be considered as a weekly goal. It is difficult to consider purchases from current levels, since the size of the stop loss will be quite large.
Daily CZ - daily control zone. The area formed by important data from the futures market, which change several times a year.
Weekly CZ - weekly control zone. The zone formed by important marks of the futures market, which change 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