Work in the downward direction is the main one, so growth should be considered as an opportunity to sell the instrument at a more favorable price. Purchases are high-risk since it will take a long time to form a reversal model against a strong fall.
The strengthening of the US dollar is taking place on all instruments, so the current bearish impulses should be perceived as a long-term structure.
An alternative model will be developed if the closing of today's trading occurs above the WCZ 1/2 1.2212-1.2195. This will indicate the appearance of a large buyer. The next growth target will be the weekly CZ 1.2423-1.2385. It is important to understand that the probability of forming a reversal model is less than 25%, which makes working in the upward direction not profitable.
Daily CZ - daily control zone. A zone formed by important data from the futures market that changes 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. A zone that reflects the average volatility over the past year.
The material has been provided by InstaForex Company - www.instaforex.com