Developing in the direction of the upward movement is now becoming less profitable, as the pair is trading above the zone of the average weekly move. At the same time, the probability of a return to the level of 0.6576 is 90%; thus, it is necessary to wait for the formation of a pattern of "false breakdown" and enter the direction of return to the middle stroke zone. This pattern becomes the main one in the second half of this week.
This week, further development will be targeted at returning to the level of 0.6576. The probability of closing trades above this level is 30%.
An alternative pattern will be developed if growth continues. This will allow you to get more favorable prices for the sale of the instrument in the future. In addition, buying from current levels is not profitable, since according to statistics, the probability of a return to the middle course zone is 90%. Any purchase should have a risk-to-profit ratio above 1 in 9, which is unlikely.
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