The formation of the downward model occurred last week, which will remain corrective. While the pair is trading above the weekly control zone 1.3956-1.3928. The test of the specified zone will allow searching the pattern for purchase.

Medium-term plan.

The downward movement last week looks corrective for March growth, which allowed us to reach the monthly KZ 1.4202-1.4155 after a natural rollback occurred. The further decline has a target to test the short-term control zone 1.3956-1.3928. While the pair is trading above the specified zone, the medium-term priority continues to ascend. At the end of the week, option contracts will expire which can lead to the rapid implementation of the priority model. This will require searching a favorable price for buying within the weekly control zone.

To form an alternative model, you will need to consolidate one of the American sessions below the level of 1.3928. This will open the way for the fall of the pair to the March low in the medium term.

Intraday plan.

Earlier this week, the downward movement is an impulse which indicates the need to find favorable prices for selling the instrument. The nearest resistance is NKZ 1/4 1.4089-1.4082. The test of this zone will allow gaining favorable prices in finding a pattern for selling the instrument. The target of decline is the weekly control zone 1.3956-1.3928. The determined support for this week will be the NKZ 1/2 1.4168-1.4154. While the pair is trading below this zone, the fall will remain a priority.

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Daytime CP is the daytime control zone. The zone formed by important data from the futures market, which change several times a year.

Weekly CP is the weekly control zone. The zone formed by important futures market marks, which change several times a year.

Monthly CP is the monthly control zone. The zone is a reflection of the average volatility over the past year.

* The presented market analysis is informative and does not constitute a guide to the transaction.