The downward movement is still the main one in the medium term. Conditions have been created to continue strengthening the Swiss franc. The first target of the fall is the June low, the test of which will determine future plans for trading. The growth from two weeks ago led to the test WCZ 1/2 0.9552-0.9536. Since there was no consolidation above this zone, the probability of a reversal pattern remains below 25%.
To enter the sale from current levels, it is necessary to form the absorption pattern at the level of M30 or H1. It is important to understand that the probability of retesting the low of last week is at 75%.
To break the current structure and enter an upward momentum, it will be necessary to consolidate the pair above the WCZ 1/2 during one of the US sessions. If this happens, the next growth target will be the weekly CZ 0.9736-0.9702, which will allow you to open purchases this week.
Daily CZ - daily control zone. The area formed by important data from the futures market, which changes several times a year.
Weekly CZ - weekly control zone. The zone formed by important marks of the futures market, which changes several times a year.
Monthly CZ - monthly control zone. The zone, which is a reflection of 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.
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