The downward movement led to a breakdown and consolidation below the Weekly Control Zone 1/2 1.1025-1.1018. This makes it possible to consider any growth as an opportunity to search for favorable prices for the sale of an instrument. On the other hand, the sales area starts from yesterday's maximum and reaches the Weekly Control Zone 1/4 1.1043-1.1040. However, the ascending model is considered not implemented.
The target of the fall is the weekly control zone 1.0953-1.0939. It coincides with the zone of monthly volatility, which makes it determining in November.
An alternative growth model and the formation of a medium-term accumulation zone will require the closure of today's trading above the Weekly Control Zone 1/4 1.1043-1.1040. This will allow you to consider selling at better prices in the second half of the week. The probability of implementing this model is below 30%, which makes it an auxiliary.
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