Today, the pair is testing the NKZ 1/2 1.1277-1.1267. While this zone acts as resistance, it is necessary to consider the pattern for selling as the main one. The first goal of the decline, in the event of an offer, will be the low of March. This will allow you to take 100 points of profit. This fact indicates the need to find a pattern with a stop of no more than 30 points within the control zone.
The appearance of the offer will be marked by the uptake in growth in the Asian session, which will provide the opportunity to enter a short position with the lowest stop.
An alternative growth model will be developed if the pair is able to consolidate above the NKZ 1/2 in today's US session. This will open the way for growth to a weekly KZ of 1.1378-1.1360. Work in the upward direction will be relevant only by tomorrow, so you should not rush into buying. Friday's fall remains decisive, as it is a strong impulse.
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