After testing the Weekly Control Zone 1/2 0.6837-0.6831, we obtained favorable selling prices. Meanwhile, a short position can be continued, however, profit should be partially fixed, as the pair approached the minimum of November. This increases the probability of large demand, which will lead to the formation of a local accumulation zone.
In the case of accumulation, the main resistance will continue the zone tested last week by the Weekly Control Zone 1/2. Thus, repeated sales will come to the fore.
If today's growth does not exceed yesterday, then the resumption of the fall will update November's minimum, and the target of the fall will be Weekly Control Zone 1/2 0.6739-0.6733. The probability of reaching this goal is 75%, which suggests repeated sales when forming a pattern in the direction of the pair falling.
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