Today's trading plan should take into account yesterday's weekly test. Keeping the price below the trading range of the European sessions for the last two days will allow us to talk about the continuation of the downward movement. The main goal of the correctional fall is 1/2 WCZ of 0.9819-0.9808.
Downward trade should be oriented towards the next support. Part of the profit is required to be fixed during the test of 1/2 WCZ.
An alternative model will be developed in the event that the reverse absorption of yesterday's fall occurs. This will lead to the formation of a local accumulation zone and the continuation of the bullish momentum in the medium term. Purchases from current marks are not profitable. Therefore, a deeper decline in the pair is required.
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 area formed by marks from the important futures market, which changes several times a year.
Monthly CZ - monthly control zone. The area is a reflection of the average volatility over the past year.
The material has been provided by InstaForex Company - www.instaforex.com