The upward movement of the previous day continued the formation of the medium-term impulse model and made it possible to achieve the important target weekly KZ 1.3478-2.3458. Part of the purchases can be closed, the rest is transferred to breakeven.
Yesterday’s weekly short test led to the emergence of proposals and a halt in growth. So far, this movement is corrective, which does not allow considering sales from the current levels. To form a reversal pattern, it may be necessary to update yesterday’s high and absorb most of the recent growth. The upward movement remains a priority, as the decline did not violate any of the lower control zones. It is better to search for purchases after a decrease in the pair to NKZ 1/4 or 1/2, formed from yesterday’s high.
Purchases from the current levels, as well as sales, are not profitable, therefore entry is required to create conditions. Today, open market operations are underway, which can be the basis for building an important level of support or resistance after the close of today’s trading in the Asian session.
When building a trading plan, it is necessary to take into account that the pair is trading near the monthly short-term. This can lead to a large supply and a halt in medium-term growth. For those who hold purchases, they will need full fixation. The emergence of a strong reaction and the breakdown of one of the control zones after the monthly short-term test will allow us to consider short trades as a priority.
Day short – daily control zone. The zone formed by important data from the futures market, which change several times a year.
Weekly KZ – weekly control zone. The zone formed by the important marks of the futures market, which change several times a year.
Monthly KZ – 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
The upward movement of the previous day continued the formation of the medium-term impulse model and made it possible to achieve the important target weekly KZ 1.3478-2.3458. Part of the purchases can be closed, the rest is transferred to breakeven.
Yesterday’s weekly short test led to the emergence of proposals and a halt in growth. So far, this movement is corrective, which does not allow considering sales from the current levels. To form a reversal pattern, it may be necessary to update yesterday’s high and absorb most of the recent growth. The upward movement remains a priority, as the decline did not violate any of the lower control zones. It is better to search for purchases after a decrease in the pair to NKZ 1/4 or 1/2, formed from yesterday’s high.
Purchases from the current levels, as well as sales, are not profitable, therefore entry is required to create conditions. Today, open market operations are underway, which can be the basis for building an important level of support or resistance after the close of today’s trading in the Asian session.
When building a trading plan, it is necessary to take into account that the pair is trading near the monthly short-term. This can lead to a large supply and a halt in medium-term growth. For those who hold purchases, they will need full fixation. The emergence of a strong reaction and the breakdown of one of the control zones after the monthly short-term test will allow us to consider short trades as a priority.
Day short – daily control zone. The zone formed by important data from the futures market, which change several times a year.
Weekly KZ – weekly control zone. The zone formed by the important marks of the futures market, which change several times a year.
Monthly KZ – 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
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