Yesterday, there was a stop of the downward movement and the emergence of large demand. On Monday, absorption of the bearish movement did not happen, however, we are observing the closing of yesterday's trading above Weekly Control Zone 1/4 1.0923-1.0919, which indicates a possible change in dynamics. The first growth target is the Weekly Control Zone 1/2 1.0967-1.0959.
It is important to note that there was a test of the monthly middle course zone at the end of last month, which is a strong medium-term support.
The option to reduce the pair will be developed if today's closing of trading occurs below the Weekly Control Zone 1/4 1.0903-1.0899. This will allow to consider the sale of the instrument again. The purpose of which will be the Weekly Control Zone 1/2 1.0854-1.0846.
Daily CZ - daily control zone. The zone formed by important data from the futures market that changes several times a year.
Weekly CZ - weekly control zone. The zone formed by the important marks of the futures market, which change several times a year.
Monthly CZ - monthly control zone. The zone that reflects the average volatility over the past year.
The material has been provided by InstaForex Company - www.instaforex.com