Work in the downward direction is a priority because the bearish pattern is not completed. The determining resistance is WCZ 1/2 0.6478-0.6471. If the zone is tested, this will make it possible to enter the sale at the best prices.
The target weekly shortcut 0.6380-0.6365 makes it possible to obtain a favorable risk-to-profit ratio for sales even from current levels.
To break the downward pattern, closing today's trading above the WCZ 1/2 will be required. This will indicate a shortage of the priority bearish model and allow you to search for purchases at the beginning of next week. A strong upward movement is currently hampered by the monthly CZ in June, the lower border of which is located at 0.6491.
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