Further growth of the pair is an excellent opportunity to hold a long position, open after the WCZ 1/2 test 1.2562-1.2543. Some purchases can be closed, the rest of the transfer to breakeven. It is important to note that the next growth target will be WCZ 1/2 1.2769-1.2750 in case the pair can consolidate above the level of 1.2663.
The upward movement is also confirmed by the fact that the two-day growth exceeds the decline of the previous days in strength, which allows us to determine the pattern of absorption at a high level.
To cancel the upward movement, it will be necessary to stop the growth at the current level and absorb yesterday's growth. The closing of the American session should occur below the opening of the current week. If this happens, then a return to the May minimum will be the first goal in the path of continuing the medium-term fall.
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