The development in the downward direction becomes the main one at the end of the current week and the beginning of the next. The main goal of the bearish pattern was the weekly control zone 1.1151-1.1133. The probability of reaching this is 75%. We can get favorable selling prices while testing the weekly control zone 1/4 1.1241-1.1236.
An accumulation zone is formed on the instrument for the third week, which requires taking into account weekly extremes when consolidating daily and medium-term positions.
On the other hand, the alternative growth pattern has 25% probability, therefore, it will only be considered as an auxiliary one. Growth will resume if the closing of today's trading occurs above the opening of Thursday's trading, which will lead to the formation of an absorption pattern of the daily level.
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