The formation of the medium-term accumulation zone continues for the fifth week. This makes it possible to open deals at the boundaries of the flat. Yesterday, the upper limit was tested, which coincides with the weekly control zone 1.3378-1.3360. This made it possible to consolidate purchases. Today's plan is to find favorable prices for selling the instrument.
Sales from the upper boundary of the flat have a favorable risk to profit ratio, since the width of the range is approximately 150 points.
An alternative model will be developed if the closure of today's US session occurs above the weekly CZ. This will open the way for continued growth and will make it possible to complete the flat medium-term phase. The probability of exit from the flat is 30%, so the model is auxiliary. Buying at the upper boundary of the flat is not recommended.
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