Work in the downward direction has become the main one this week. The target weekly CZ 0.9560-0.9527 is located at a distance of 30 points, which makes it the main one for determining further priority. If the test of this zone leads to an increase in demand and the formation of a pattern of "absorption", then next week, purchases will come to the fore.
Yesterday's downward movement indicates interest in buying the Swiss franc from major players, so some of the sales should be left and transferred to breakeven.
An alternative model for continuing the decline will develop if the current week's trading closes below the weekly short-term limit. This will open the way for a fall to the next target level of 0.9313. The plan for next week will depend entirely on today's test of the specified zone.
Daily CZ - daily control zone. A zone formed by important data from the futures market that changes 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. A zone that reflects the average volatility over the past year.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.