Last week, the pair continued to fall, and by the close of trading it was trading below the weekly KZ 0.6815-0.6829. This suggests the need to hold a short position until the next target zone
Today, the test of NKZ 1/4 0.6815-0.6812 took place. If the pair continues to fall from the current levels, sales will be profitable, as the target of the downward movement becomes the NKZ 1/2 0.6745-0.6738. It is important to understand that the bearish momentum is strong enough. This makes it impossible to consider purchases from the current marks. The main resistance is 1/2 knz 0.6854-0.6847. While the pair is trading below this zone, the downward movement remains an impulse. The best prices for selling are within the zone.
Reaching the target zone of the NKZ 1/2 will also allow the pair to test the monthly KZ of December. This can lead to large demand. This fact indicates the need to fix most of the sales or complete exit from a short position.
Growth is required in order to break the downward momentum, which will absorb Friday’s decline. In this case, the ncz 1/2, which is the determining resistance, will be broken. With the implementation of this model, purchases will come to the forefront tomorrow. Now the probability of working out this model is 30%, which makes it auxiliary.
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
Last week, the pair continued to fall, and by the close of trading it was trading below the weekly KZ 0.6815-0.6829. This suggests the need to hold a short position until the next target zone
Today, the test of NKZ 1/4 0.6815-0.6812 took place. If the pair continues to fall from the current levels, sales will be profitable, as the target of the downward movement becomes the NKZ 1/2 0.6745-0.6738. It is important to understand that the bearish momentum is strong enough. This makes it impossible to consider purchases from the current marks. The main resistance is 1/2 knz 0.6854-0.6847. While the pair is trading below this zone, the downward movement remains an impulse. The best prices for selling are within the zone.
Reaching the target zone of the NKZ 1/2 will also allow the pair to test the monthly KZ of December. This can lead to large demand. This fact indicates the need to fix most of the sales or complete exit from a short position.
Growth is required in order to break the downward momentum, which will absorb Friday’s decline. In this case, the ncz 1/2, which is the determining resistance, will be broken. With the implementation of this model, purchases will come to the forefront tomorrow. Now the probability of working out this model is 30%, which makes it auxiliary.
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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