The goal of the decline is the weekly control zone 1.0786-1.0769, which indicates the need to keep sales. Looking for new sales will require growth to weekly control zone 1/2 1.0915-1.0907. The pair continues to move towards the medium-term bearish impulse that occurred in March.
Sales from current levels are no longer profitable, as the ratio of risk to profit will be lower than 1 to 3.
An alternative growth model will only be developed if today's trading closes above the Weekly Control Zone 1/2. This will indicate the emergence of demand from major players and the opening of a large number of market orders.
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