Last week, the close of trading occurred outside the middle course, which allows you to work in the purchases with a probability of a return of 90%. The level of the lower limit of the average course of last week is at 0.6914. For those who have already entered a long position, this level will be the main goal of growth. On the way of the upward movement, the WCZ 1/2 0.6906-0.6899 will be the first resistance, the test of which will provide the opportunity to determine the next priority.
It is important to understand that the upward movement is still a correction to the fall, which was formed last week. If there is no consolidation above the level of 0.6906, the bearish momentum will continue.
An alternative pattern of growth and absorption of last week's fall will develop if today's trading closes above the level of 0.6906. This will make it possible to change the direction of the medium-term trade and to keep part of yesterday's purchases up to the June high.
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