Work in the upward impulse involves the search for favorable prices for the purchase of an instrument. Any decline should be considered for the appearance of a pattern of continued growth. The nearest support is Weekly Control Zone 1/4 0.6853-0.6849. During the third day, the pair tests this zone, which leads to the emergence of demand.
Continued growth is more likely while the pair is trading above the WCZ 1/2 0.6819-0.6812. Holding on to open purchases is also a good option.
The formation of an alternative model will require the emergence of a strong supply, which will allow the pair to gain a foothold below the WCZ 1/4. If this happens, then corrective sales will come to the fore. In turn, the goal of the reduction will be WCZ 1/2, where the fate of the upward impulse will be determined.
Daily CZ - daily control zone. An area formed by important data from the futures market that changes several times a year.
Weekly CZ - weekly control zone. The zone formed by the important marks of the futures market, which change several times a year.
Monthly CZ - monthly control zone. An area 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.
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