Purchases opened on November 14 must be kept until the weekly control zone 0.6453-0.6441. The test of this zone will be decisive, since the pair is in the medium-term flat, and its upper border coincides with the November high. Support is WCZ 1/2 0.6358-0.6352, which was already tested last week. A retest must be used to find a buy pattern.
Work within the framework of the flat involves consolidating most of the position on its border. This will leave a part in case of entering the flat phase.
An alternative model will be developed if today's trading closes below the level of 0.6352. This will reverse the upward pattern and allow us to seek sales in the medium term. The probability of implementing this model is 30%, which makes selling from current grades not profitable.
Daily CZ - daily control zone. The area formed by important data from the futures market, which change several times a year.
Weekly CZ - weekly control zone. The zone formed by important marks of the futures market, which change several times a year.
Monthly CZ - monthly control zone. The zone, which is a reflection of the average volatility over the past year.
The material has been provided by InstaForex Company - www.instaforex.com