Favorable prices were received to buy the EUR/USD pair last Friday. The target of the upward movement remains the Weekly Control Zone of 1.1840-1.1857.
Last week's growth has absorbed the bearish impulse from two weeks ago. This indicates that the upward movement will most likely continue in the first half of this week. The purchases made last Friday can be transferred to breakeven. Thus, it is necessary for a partial or complete consolidation when testing the level of 1.1840.
It is worth noting how this instrument has clearly worked out our trading plan regarding the banking operations zone, which was chosen as the main one on August 26.
Trading plan on August 26:
Today's situation:
The banking level of 1.1734 remained a support and the growth continued. This model indicates a large number of orders to sell the Euro. Most likely, the upward movement will remain the main one for the next two days. Holding purchases is the main tactic until September 1, 2021.
The material has been provided by InstaForex Company - www.instaforex.com