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13.02.2018 08:17 AM
Trading forecast EUR/USD 13.02.2018

Last week, a correction model was formed for the upward medium-term impulse. The determining resistance is a weekly control zone (KZ) of 1.2390-1.2374. While the EUR/USD pair is trading below the zone, while the bearish movement will remain a priority.

Medium-term plan.

The main task for this week should take place within the framework of two weekly control zones. The resistance zone is the range 1.2390-1.2374, while the support and target for the downward medium-term model are the NKZ 1.2170-1.2154. Working in the flat range implies transactions from its boundaries with the fixation of the larger portion of profit towards the opposite boundary. The remaining part can be transferred to a breakeven point in case the instrument leaves the flat. The entry points can be easily determined on the lower timeframe after the breakdown of one of the small control zones.

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To form a descending model from the current marks, the formation of a reversal model is required at the lower time interval. The target of the downward movement will be the weekly KZ 1.2170-1.2154.

Intraday plan.

Today, there is a series of test at NKZ 1/2 1.2298-1.2290, which is the determining resistance. If the American session closed above this zone, then the upward movement will acquire the condition of the short-term momentum. The goal of the ascending model will be a weekly KZ of 1.2390-1.2374 which is located within the daily average. Holding the price below the NKZ 1/2 will open the way for a decline to the weekly KZ1.2170-1.2154, which is located at the boundary of the monthly short-term, its importance is indicated upon stopping the downward movement.

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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.

Samanta Kruder,
Analytical expert of InstaForex
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