Keeping sales that were opened yesterday is the main plan for today. The first target of the fall is the WCZ 1/2 1.0129-1.0119. Achieving this zone will make it possible for you to close a large part of sales and considering purchases after forming the "false breakdown" pattern. It is important to note that the pair has been trading within the medium-term accumulation zone for the third week. The main boundaries of this zone are the highs and lows of the previous weeks.
Work in the framework of the flat involves partial consolidation. Expect a strong impulsive movement with a probability of 30%, so the size of the stop losses should correspond to the expected profits.
In order to break the flat structure and continue growth, it will be necessary to absorb yesterday's fall in the US session and close the auction above 1.0233. This will lead to a trend phase, where new targets will be determined by the strength of the impulse. It is important to note that April growth is still the trend and the current movement on the pair is only a local accumulation zone. The probability of the pair's continued growth in the medium term is 70%.
Daily CZ - daily control zone. The area formed by important data from the futures market, which change several times a year.
Weekly CZ - weekly control zone. The zone formed by important marks of the futures market, which change 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