A downward medium-term model is under development. This makes it possible to hold previously opened sales and consider new ones. The main goal of the fall is the weekly control zone 105.69-105.33. It is important to understand that any growth is corrective until the WCZ 1/2 is broken.
Work in the downward direction is profitable even from current levels, however, to get more favorable prices, you can wait for growth to the opening point of yesterday's trading.
An alternative model has a lower probability of being implemented. Purchases from current levels are not profitable. To disrupt the current downward trend, it will be necessary to close today's trade above yesterday's high. This will allow you to start working within the flat zone that was formed at the end of last week.
Daily CZ - daily control zone. The area formed by important data from the futures market, which changes several times a year.
Weekly CZ - weekly control zone. The zone formed by important marks of the futures market, which changes 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