Friday’s growth was provoked by the fact that the pair reached the zone of the average course of the week. This made it possible to form an accumulation zone, where the extremums of last week became the main support and resistance levels. The growth target is the WCZ 1/2 1.1223-1.1215, the test of which will determine the next priority. It is important to understand that working within the framework of a flat means consolidating a profit at the borders of the range and partial withdrawal of positions in the medium term.
The purpose of the downward impulse, if it continues, is the weekly CZ 1.1105-1.1089. The most favorable prices for selling are within the WCZ 1/2, discussed above.
To cancel the downward movement, you will need to close today’s trading above the level of 1.1223. If this happens, the next growth target will again be the weekly CZ 1.1287-1.1271, which was not tested during the formation of the previous bullish momentum. The current phase of the flat does not make it possible for us to search for long-range targets, since the probability of working in the local range is high.
Daily CZ – daily control zone. The area formed by important data from the futures market, which change 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. 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
Friday’s growth was provoked by the fact that the pair reached the zone of the average course of the week. This made it possible to form an accumulation zone, where the extremums of last week became the main support and resistance levels. The growth target is the WCZ 1/2 1.1223-1.1215, the test of which will determine the next priority. It is important to understand that working within the framework of a flat means consolidating a profit at the borders of the range and partial withdrawal of positions in the medium term.
The purpose of the downward impulse, if it continues, is the weekly CZ 1.1105-1.1089. The most favorable prices for selling are within the WCZ 1/2, discussed above.
To cancel the downward movement, you will need to close today’s trading above the level of 1.1223. If this happens, the next growth target will again be the weekly CZ 1.1287-1.1271, which was not tested during the formation of the previous bullish momentum. The current phase of the flat does not make it possible for us to search for long-range targets, since the probability of working in the local range is high.
Daily CZ – daily control zone. The area formed by important data from the futures market, which change 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. 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
Related Posts: