The upward movement remains a priority since the test 1/2 WCZ of 1.1005-1.0997 led to the emergence of demand, and the closing of the American session took place above the zone. The first goal of growth will be the weekly control zone of 1.1086-1.1102. The test of which will fix part of the profit while the rest of the position need to be transferred to breakeven.
Working in the upward direction allows you to get a favorable risk to profit ratio. It is important to note that on Monday there will be a transition to a new futures contract, which may affect the volatility of the coming days.
An alternative fall model will become relevant if the closure of today's US session occurs below the level of 1.0997. This will allow rebuilding its trade towards the weakening of the European currency. The main purpose of the fall will be the lower range of the average stroke.
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 area formed by marks from the important futures market, which changes several times a year.
Monthly CZ - monthly control zone. The area 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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