Purchases made last week after the test of WCZ 1/2 105.43-105.28 continue to be relevant. The first goal of the upward movement is the monthly high. The main growth target for implementing the priority model is the weekly CZ of 107.75-107.42. Testing this zone will complete the bullish cycle.
Working in an upward direction is a priority, so any reduction to the WCZ 1/2 should be considered for buying the instrument.
To break the upward momentum, today's trading will have to close below the WCZ 1/2. This will require closing the purchase and opening a short position after a corrective pattern has formed. The probability of this reversal is at 25%.
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