Today, the pair is trading within the upper range of the middle course. This indicates a high probability of the formation of a correctional model and the formation of a flat. Moreover, the downward movement must be used to find favorable prices for the purchase of the instrument. Weekly Control Zone 1/4 1.3290-1.3286 will be the first support zone.
The probability of closing the week's trading above today's maximum is 30%. Thus, you should not count on the quick implementation of the upward model.
An alternative model will be developed if the closure of today's trading occurs below the Weekly Control Zone 1/4. This will mean the formation of a deep correction and the continuation of the medium-term flat. In this case, tomorrow's work will be to receive purchases at lower prices at the WCZ 1/2 1.3246-1.3237.
Daily CZ - daily control zone. The zone formed by important data from the futures market that changes several times a year.
Weekly CZ - weekly control zone. The zone formed by the important marks of the futures market, which change several times a year.
Monthly CZ - monthly control zone. The zone that reflects the average volatility over the past year.
The material has been provided by InstaForex Company - www.instaforex.com