In case of a downward movement, it is necessary to focus on finding a pattern for selling. The current resistance is NKZ 1/4 0.7102-0.7098. Yesterday, the high was slightly located above this zone. This range must be used to enter a short position when the first signs of the offer appear.
The target of a downward movement is the weekly KZ of 0.7032-0.7019. Until it is reached, the probability of updating the daily and weekly lows will be 70%.
For the formation of an alternative model, a breakdown and consolidation above the level of 0.7102 will be required at today's US session. This will entail the formation of a deeper correctional model, the goal of which will be the NKZ 1/2 0.7132-0.7139, where you can get the most favorable prices for selling the current downward impulse. The probability of implementing this model is close to 50%, which makes it a support.
Daily KZ - 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