The downward movement is a correction, the purpose of which can be considered WCZ 1/2 0.9861-0.9849. Achieving this zone will allow you to consolidate part of the profit, and transfer the rest of the sales to breakeven in case the decline continues and there is a change in the medium-term priority.
Changing the daily priority can be the starting point for a new downward momentum. To do this, close the current week's trade below WCZ 1/2.
An alternative growth model is less likely due to the formation of absorption at yesterday's European session, however, it must be considered, since the close of trading below WCZ 1/4 did not happen yesterday. In case growth resumes, the first goal will be a weekly high.
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