The bearish movement of the pair is still a priority, which makes it possible for you to keep sales open last week. The first goal of the decline is WCZ 1/2 0.6561-0.6555. Reaching this zone will close most of the sales, and also transfer the rest to breakeven.
The positioning of the Asian sessions of the last three days indicates pressure on the course from the major players. This must be used to re-enter a short position in case of obtaining favorable prices.
An alternative model will be developed if the closure of today's trading occurs above yesterday's high. This will make it possible to form an absorption pattern at the daily level, which will open the way for renewed growth to WCZ 1/2.
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 zone formed by important marks of the futures market, which changes 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