Last week, sales were opened. The current week should be completely closed, as the tool went beyond the weekly move. This fact suggests an increase in the probability of corrective movement up to 90%. We can not talk about the end of the downward medium-term impulse; however, we should expect a corrective growth, the size of which may exceed the daily average.
It is important to note that the probability of closing the current week trading above 0.7043 is more than 70%. This makes it possible to search for favorable prices for the purchase. One of the profitable patterns will be "false breakdown", which can be formed today.
An alternative model will be developed if the pair can consolidate below the level of 0.7043 today. This speaks about artificial pressure put on the Australian dollar. Working in the downward direction remains a priority in the medium term; however, according to statistics, the probability of compensatory movement increases to 90%, which is necessary to use.
Daily CZ - daily control zone. The area formed by important data from the futures market, which changes several times a year.
Weekly CZ - weekly control zone. The zone formed by important marks of the futures market, which changes several times a year.
Monthly CZ - 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