The upward movement remains a medium-term impulse. This allows you to hold purchases opened last week or the week before. It is not profitable to buy from current grades, since the growth is already twice the average monthly speed.
Friday's movement continued the impulse upward medium-term model. The closing of trading occurred above Thursday's high, and the support zone was not reached. The strength of the bullish momentum is still present. Reversal patterns have not been formed this year. All reductions are corrective in nature, which should be used to find favorable prices for the purchase.
The best rates are within NKZ 1/2 0.7171-0.7165. The achievement of this zone will be decisive for the upward momentum. To continue the growth, it is necessary to keep the price above the specified support.
Breaking the upward movement will require a breakout and consolidation below 0.7165 at one of the US sessions. This will lead to the formation of a medium-term accumulation zone and a return to the significant marks that were passed during the bullish momentum. Sales from current levels are not profitable, as the probability of updating the annual high is 70%. To make decisions about the sale of the instrument will require the formation of a reversal pattern.
Day short - daily control zone. The zone formed by important data from the futures market, which change several times a year.
Weekly KZ - weekly control zone. The zone formed by the important marks of the futures market, which change several times a year.
Monthly KZ - 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