Holding the price below the weekly CZ 0.6321-0.6333 indicates the interest of major players. To continue the growth, it will be necessary to close today's US session above the level of 0.6333. If this happens, the beginning of next week will give the opportunity to look for favorable prices for the purchase of the instrument.
Work in the upward direction is a priority, therefore, the retention of purchases opened yesterday after the WCZ 1/2 test is the main plan for the end of this week.
Now, there is a formation of a local accumulation zone, so the main trade is to work inside the flat. The weekly control zone and the formation of the "false breakdown" pattern will allow you to enter the short position. The target of the reduction will again be WCZ 1/2 0.6275-0.6269, where sales fixation will be required.
Daily CZ – daily control zone. An area formed by important data from the futures market that changes several times a year.
Weekly KZ – weekly control zone. The zone formed by the important marks of the futures market, which change several times a year.
Monthly KZ – monthly control zone. An area that reflects the average volatility over the past year.
The material has been provided by InstaForex Company - www.instaforex.com