The fall yesterday was the reason for the formation of insignificant movement of the daily level. The probability of closing below today's movement has increased significantly for the week. The closing of trading below the WCZ 1/4 0.9133-0.9126 indicates an increase in the probability of a downward movement up to 70%. The fall target is the wcz 1/2 0.9067-0.9053.
It is important to note that the movement going up is not complete so the test of the lower wcz 1/2 can be the starting point of resuming growth. It indicates the need to record sales during the support test.
If today's closing will go above the opening, an alternative accumulation model will be developed. This will lead to the formation of a flute which will allow you to get more favorable prices for the sale of the instrument.
Day Control Zone. An area formed by important data from the futures market that changes several times a year.
Weekly Control Zone. An area formed by important marks of the futures market that changes several times a year.
Monthly Control Zone. A zone that reflects the average volatility over the past year.
The material has been provided by InstaForex Company - www.instaforex.com